Le Leader: what changed
Two financial 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.
Le Leader
Largest movements
- Tangible fixed assets -€85,702
down €85,702 (-10.8%), from €792,848 to €707,146
of which Land and buildings: -€62,320
- Cash +€56,079
up €56,079 (+64.2%), from €87,306 to €143,384
mainly Depreciation (+€101,805) and Net result for the year (+€70,065)
- Receivables within one year -€40,242
down €40,242 (-45.1%), from €89,208 to €48,967
of which Trade receivables: -€40,952
- Debts after one year -€88,945
down €88,945 (-13.6%), from €656,285 to €567,339
- Tax, wage and social debts -€31,007
down €31,007 (-50.1%), from €61,949 to €30,941
of which Taxes: -€26,895
- Other debts +€29,000
up €29,000 (+77.5%), from €37,428 to €66,428
- Profit (loss) carried forward +€20,065
up €20,065 (+24.3%), from €82,494 to €102,559
- Depreciation -€42,131
down €42,131 (-29.3%), from €143,936 to €101,805
- Staff costs -€27,387
down €27,387 (-19.9%), from €137,373 to €109,986
- Gross operating margin -€25,714
down €25,714 (-6.8%), from €378,544 to €352,830
- Taxes +€10,572
up €10,572 (+83.0%), from €12,731 to €23,303
- Other operating charges -€3,804
down €3,804 (-22.1%), from €17,215 to €13,411
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.
Derived cash bridge
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 | €977,969 | €910,913 | -€67,056 | -6.9% |
| Fixed assets | 21/28 | €792,848 | €707,146 | -€85,702 | -10.8% |
| Tangible fixed assets | 22/27 | €792,848 | €707,146 | -€85,702 | -10.8% |
| Land and buildings | 22 | €679,629 | €617,309 | -€62,320 | -9.2% |
| Plant, machinery and equipment | 23 | €102,880 | €83,475 | -€19,404 | -18.9% |
| Furniture and vehicles | 24 | €10,339 | €6,362 | -€3,977 | -38.5% |
| Current assets | 29/58 | €185,121 | €203,767 | +€18,646 | +10.1% |
| Stocks and contracts in progress | 3 | €6,751 | €9,561 | +€2,810 | +41.6% |
| Stocks | 30/36 | €6,751 | €9,561 | +€2,810 | +41.6% |
| Amounts receivable within one year | 40/41 | €89,208 | €48,967 | -€40,242 | -45.1% |
| Trade receivables | 40 | €44,327 | €3,375 | -€40,952 | -92.4% |
| Other amounts receivable | 41 | €44,882 | €45,592 | +€710 | +1.6% |
| Cash at bank and in hand | 54/58 | €87,306 | €143,384 | +€56,079 | +64.2% |
| Deferred charges and accrued income | 490/1 | €1,856 | €1,855 | -€1 | -0.1% |
| Total equity and liabilities | 10/49 | €977,969 | €910,913 | -€67,056 | -6.9% |
| Equity | 10/15 | €111,009 | €131,075 | +€20,065 | +18.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €9,916 | €9,916 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,916 | €9,916 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,916 | €9,916 | = | 0.0% |
| Profit (loss) carried forward | 14 | €82,494 | €102,559 | +€20,065 | +24.3% |
| Amounts payable | 17/49 | €866,959 | €779,838 | -€87,121 | -10.0% |
| Amounts payable after more than one year | 17 | €656,285 | €567,339 | -€88,945 | -13.6% |
| Financial debts | 170/4 | €656,285 | €567,339 | -€88,945 | -13.6% |
| Amounts payable within one year | 42/48 | €210,287 | €212,099 | +€1,812 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | €105,339 | €103,524 | -€1,816 | -1.7% |
| Trade debts | 44 | €5,572 | €11,206 | +€5,635 | +101% |
| Suppliers | 440/4 | €5,572 | €11,206 | +€5,635 | +101% |
| Taxes, remuneration and social security | 45 | €61,949 | €30,941 | -€31,007 | -50.1% |
| Taxes | 450/3 | €46,030 | €19,135 | -€26,895 | -58.4% |
| Remuneration and social security | 454/9 | €15,919 | €11,806 | -€4,113 | -25.8% |
| Other amounts payable | 47/48 | €37,428 | €66,428 | +€29,000 | +77.5% |
| Accrued charges and deferred income | 492/3 | €387 | €400 | +€12 | +3.2% |
| Remuneration, social security and pensions | 62 | €137,373 | €109,986 | -€27,387 | -19.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €143,936 | €101,805 | -€42,131 | -29.3% |
| Other operating charges | 640/8 | €17,215 | €13,411 | -€3,804 | -22.1% |
| Gross operating margin | 9900 | €378,544 | €352,830 | -€25,714 | -6.8% |
| Operating profit (loss) | 9901 | €80,019 | €127,628 | +€47,608 | +59.5% |
| Financial income | 75/76B | €807 | €476 | -€331 | -41.0% |
| Recurring financial income | 75 | €807 | €476 | -€331 | -41.0% |
| Financial charges | 65/66B | €37,377 | €34,736 | -€2,642 | -7.1% |
| Recurring financial charges | 65 | €37,377 | €34,736 | -€2,642 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €43,449 | €93,368 | +€49,919 | +115% |
| Income taxes | 67/77 | €12,731 | €23,303 | +€10,572 | +83.0% |
| Profit (loss) for the period | 9904 | €30,718 | €70,065 | +€39,347 | +128% |
| Profit (loss) for the period to be appropriated | 9905 | €30,718 | €70,065 | +€39,347 | +128% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.