"L.E.A.P.": what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
"L.E.A.P."
Largest movements
- Deferred charges and accrued income +€9,000
new in 2025: €9,000
- Receivables within one year +€8,393
up €8,393 (+22.5%), from €37,313 to €45,706
- Cash +€3,926
up €3,926 (+6.7%), from €59,013 to €62,938
mainly Other debts (+€31,571) and Tax, wage and social debts (+€22,592)
- Profit (loss) carried forward -€45,000
down €45,000 (-51.0%), from €88,152 to €43,152
- Other debts +€31,571
up €31,571 (+93.3%), from €33,830 to €65,401
- Tax, wage and social debts +€22,592
up €22,592 (+120.4%), from €18,764 to €41,356
- Reserves +€16,314
new in 2025: €16,314
- Debts after one year -€13,799
down €13,799 (-6.8%), from €202,031 to €188,232
- Gross operating margin -€44,028
down €44,028 (-45.1%), from €97,681 to €53,653
- Depreciation +€10,365
up €10,365 (+156.0%), from €6,645 to €17,010
- Taxes -€5,704
down €5,704 (-39.2%), from €14,552 to €8,848
- Financial charges -€4,196
down €4,196 (-29.3%), from €14,328 to €10,132
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €361,844 | €380,229 | +€18,385 | +5.1% |
| Fixed assets | 21/28 | €265,518 | €262,585 | -€2,933 | -1.1% |
| Tangible fixed assets | 22/27 | €265,518 | €262,585 | -€2,933 | -1.1% |
| Land and buildings | 22 | - | €249,856 | +€249,856 | |
| Plant, machinery and equipment | 23 | €3,319 | €2,517 | -€802 | -24.2% |
| Furniture and vehicles | 24 | €10,264 | €5,128 | -€5,136 | -50.0% |
| Other tangible fixed assets | 26 | €3,012 | €5,084 | +€2,072 | +68.8% |
| Assets under construction and advance payments | 27 | €248,922 | - | -€248,922 | |
| Current assets | 29/58 | €96,326 | €117,644 | +€21,318 | +22.1% |
| Amounts receivable within one year | 40/41 | €37,313 | €45,706 | +€8,393 | +22.5% |
| Trade receivables | 40 | €37,313 | €45,706 | +€8,393 | +22.5% |
| Cash at bank and in hand | 54/58 | €59,013 | €62,938 | +€3,926 | +6.7% |
| Deferred charges and accrued income | 490/1 | - | €9,000 | +€9,000 | |
| Total equity and liabilities | 10/49 | €361,844 | €380,229 | +€18,385 | +5.1% |
| Equity | 10/15 | €92,152 | €63,466 | -€28,686 | -31.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | - | €16,314 | +€16,314 | |
| Distributable reserves | 133 | - | €16,314 | +€16,314 | |
| Profit (loss) carried forward | 14 | €88,152 | €43,152 | -€45,000 | -51.0% |
| Amounts payable | 17/49 | €269,691 | €316,763 | +€47,072 | +17.5% |
| Amounts payable after more than one year | 17 | €202,031 | €188,232 | -€13,799 | -6.8% |
| Financial debts | 170/4 | €202,031 | €188,232 | -€13,799 | -6.8% |
| Amounts payable within one year | 42/48 | €67,661 | €128,531 | +€60,871 | +90.0% |
| Current portion of amounts payable after more than one year | 42 | €15,067 | €15,618 | +€551 | +3.7% |
| Trade debts | 44 | - | €6,156 | +€6,156 | |
| Suppliers | 440/4 | - | €6,156 | +€6,156 | |
| Taxes, remuneration and social security | 45 | €18,764 | €41,356 | +€22,592 | +120.4% |
| Taxes | 450/3 | €18,764 | €41,356 | +€22,592 | +120.4% |
| Other amounts payable | 47/48 | €33,830 | €65,401 | +€31,571 | +93.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,645 | €17,010 | +€10,365 | +156.0% |
| Other operating charges | 640/8 | €654 | €1,366 | +€712 | +108.9% |
| Gross operating margin | 9900 | €97,681 | €53,653 | -€44,028 | -45.1% |
| Operating profit (loss) | 9901 | €90,382 | €35,277 | -€55,105 | -61.0% |
| Financial income | 75/76B | €4 | €17 | +€14 | +365.8% |
| Recurring financial income | 75 | €4 | €17 | +€14 | +365.8% |
| Financial charges | 65/66B | €14,328 | €10,132 | -€4,196 | -29.3% |
| Recurring financial charges | 65 | €14,328 | €10,132 | -€4,196 | -29.3% |
| Profit (loss) for the period before taxes | 9903 | €76,057 | €25,162 | -€50,895 | -66.9% |
| Income taxes | 67/77 | €14,552 | €8,848 | -€5,704 | -39.2% |
| Profit (loss) for the period | 9904 | €61,505 | €16,314 | -€45,191 | -73.5% |
| Profit (loss) for the period to be appropriated | 9905 | €61,505 | €16,314 | -€45,191 | -73.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.