LEA-D: 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.
LEA-D
Largest movements
- Receivables within one year +€85,795
up €85,795 (+192.7%), from €44,524 to €130,319
of which Trade receivables: +€87,437
- Receivables after one year -€73,047
down €73,047 (-50.4%), from €145,050 to €72,003
- Tangible fixed assets -€26,068
down €26,068 (-3.7%), from €704,079 to €678,011
of which Land and buildings: -€24,857
- Cash -€18,589
down €18,589 (-93.7%), from €19,846 to €1,257
mainly Debts after one year (-€88,035) and Receivables within one year (-€85,795)
- Debts after one year -€88,035
down €88,035 (-23.6%), from €372,929 to €284,894
- Trade debts +€31,051
up €31,051 (+4218.9%), from €736 to €31,787
- Tax, wage and social debts +€18,988
up €18,988 (+95.4%), from €19,905 to €38,893
of which Taxes: +€17,683
- Profit (loss) carried forward +€14,377
up €14,377 (+2.2%), from €641,853 to €656,230
- Gross operating margin -€48,664
down €48,664 (-34.6%), from €140,724 to €92,060
- Other operating charges -€23,923
down €23,923 (-86.8%), from €27,575 to €3,652
- Financial income +€8,381
new in 2025: €8,381
- Depreciation -€2,648
down €2,648 (-9.2%), from €28,716 to €26,068
- Financial charges -€2,057
down €2,057 (-16.7%), from €12,338 to €10,281
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 | €1,247,020 | €1,225,754 | -€21,266 | -1.7% |
| Fixed assets | 21/28 | €1,037,079 | €1,011,011 | -€26,068 | -2.5% |
| Tangible fixed assets | 22/27 | €704,079 | €678,011 | -€26,068 | -3.7% |
| Land and buildings | 22 | €702,445 | €677,588 | -€24,857 | -3.5% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €1,634 | €423 | -€1,211 | -74.1% |
| Financial fixed assets | 28 | €333,000 | €333,000 | = | 0.0% |
| Current assets | 29/58 | €209,941 | €214,743 | +€4,802 | +2.3% |
| Amounts receivable after more than one year | 29 | €145,050 | €72,003 | -€73,047 | -50.4% |
| Other amounts receivable | 291 | €145,050 | €72,003 | -€73,047 | -50.4% |
| Amounts receivable within one year | 40/41 | €44,524 | €130,319 | +€85,795 | +192.7% |
| Trade receivables | 40 | €28,745 | €116,182 | +€87,437 | +304.2% |
| Other amounts receivable | 41 | €15,779 | €14,137 | -€1,642 | -10.4% |
| Cash at bank and in hand | 54/58 | €19,846 | €1,257 | -€18,589 | -93.7% |
| Deferred charges and accrued income | 490/1 | €521 | €11,164 | +€10,643 | +2042.8% |
| Total equity and liabilities | 10/49 | €1,247,020 | €1,225,754 | -€21,266 | -1.7% |
| Equity | 10/15 | €649,913 | €664,290 | +€14,377 | +2.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €641,853 | €656,230 | +€14,377 | +2.2% |
| Provisions and deferred taxes | 16 | €22,000 | €22,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €22,000 | €22,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €22,000 | €22,000 | = | 0.0% |
| Amounts payable | 17/49 | €575,107 | €539,464 | -€35,643 | -6.2% |
| Amounts payable after more than one year | 17 | €372,929 | €284,894 | -€88,035 | -23.6% |
| Financial debts | 170/4 | €372,929 | €284,894 | -€88,035 | -23.6% |
| Amounts payable within one year | 42/48 | €194,128 | €253,640 | +€59,512 | +30.7% |
| Current portion of amounts payable after more than one year | 42 | €86,024 | €88,035 | +€2,011 | +2.3% |
| Trade debts | 44 | €736 | €31,787 | +€31,051 | +4218.9% |
| Suppliers | 440/4 | €736 | €31,787 | +€31,051 | +4218.9% |
| Taxes, remuneration and social security | 45 | €19,905 | €38,893 | +€18,988 | +95.4% |
| Taxes | 450/3 | €12,716 | €30,399 | +€17,683 | +139.1% |
| Remuneration and social security | 454/9 | €7,189 | €8,494 | +€1,305 | +18.2% |
| Other amounts payable | 47/48 | €87,463 | €94,925 | +€7,462 | +8.5% |
| Accrued charges and deferred income | 492/3 | €8,050 | €930 | -€7,120 | -88.4% |
| Remuneration, social security and pensions | 62 | €41,210 | €39,600 | -€1,610 | -3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,716 | €26,068 | -€2,648 | -9.2% |
| Other operating charges | 640/8 | €27,575 | €3,652 | -€23,923 | -86.8% |
| Gross operating margin | 9900 | €140,724 | €92,060 | -€48,664 | -34.6% |
| Operating profit (loss) | 9901 | €43,223 | €22,740 | -€20,483 | -47.4% |
| Financial income | 75/76B | - | €8,381 | +€8,381 | |
| Recurring financial income | 75 | - | €8,381 | +€8,381 | |
| Financial charges | 65/66B | €12,338 | €10,281 | -€2,057 | -16.7% |
| Recurring financial charges | 65 | €12,338 | €10,281 | -€2,057 | -16.7% |
| Profit (loss) for the period before taxes | 9903 | €30,885 | €20,840 | -€10,045 | -32.5% |
| Income taxes | 67/77 | €7,069 | €6,463 | -€606 | -8.6% |
| Profit (loss) for the period | 9904 | €23,816 | €14,377 | -€9,439 | -39.6% |
| Profit (loss) for the period to be appropriated | 9905 | €23,816 | €14,377 | -€9,439 | -39.6% |
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 7 October 2026 via checked.be.