LEAD UP ET CO: 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.
What changed
LEAD UP ET CO
NACE 73.200, Market research and public opinion polling
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
-€93,465
2023 · -€137,320+€43,855
Equity
€2.9m
2023 · €1.4m+€1.5m
Cash
€212,377
2023 · €380,728-€168,351
Balance sheet total
€13.7m
2023 · €9.5m+€4.2m
Largest movements
Assets
- Tangible fixed assets +€2.9m
up €2.9m (+161%), from €1.8m to €4.7m
of which Land and buildings: +€2.9m
- Receivables after one year +€2.3m
up €2.3m (+16,960%), from €13,388 to €2.3m
- Financial fixed assets -€1.5m
down €1.5m (-51.5%), from €2.8m to €1.4m
- Stocks and contracts +€752,568
up €752,568 (+28.0%), from €2.7m to €3.4m
- Current investments -€386,665
down €386,665 (-24.5%), from €1.6m to €1.2m
Equity and liabilities
- Debts after one year +€1.6m
up €1.6m (+35.9%), from €4.6m to €6.2m
of which Financial debts: +€1.7m
- Short-term financial debts +€878,750
up €878,750, from €0 to €878,750
- Profit (loss) carried forward +€752,395
up €752,395 (+160%), from €470,991 to €1.2m
- Contributions +€482,709
up €482,709 (+732%), from €65,955 to €548,664
- Other debts -€314,238
down €314,238 (-14.7%), from €2.1m to €1.8m
Income statement
- Gross operating margin +€86,394
up €86,394 (+49.8%), from €173,609 to €260,002
- Depreciation -€48,920
down €48,920 (-37.2%), from €131,616 to €82,696
- Financial income -€44,624
down €44,624 (-78.6%), from €56,742 to €12,118
- Financial charges -€24,555
down €24,555 (-11.6%), from €212,502 to €187,947
From the 2023 result to the 2024 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.
Result 2023
-€137,320
Gross operating margin
+€86,394
Depreciation
+€48,920
Other operating charges
-€1,695
Other operating items
-€66,909
Financial income
-€44,624
Financial charges
+€24,555
Taxes
-€2,280
Deferred taxes and other
-€505
Result 2024
-€93,465
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€3.0m
Investment
-€1.4m
Financing
+€4.3m
Cash 2023
€380,728
From operations (derived)
-€3.0m
Net result for the year
-€93,465
Depreciation
+€82,696
Receivables after one year
-€2.3m
Stocks and contracts
-€752,568
Receivables within one year
+€16,796
Deferred charges and accrued income
-€39,041
Provisions
+€15,737
Trade debts
+€46,954
Tax, wage and social debts
+€208,923
Other debts
-€314,238
Accrued charges and deferred income
+€61,715
Investment (derived)
-€1.4m
Investment in fixed assets (net)
-€1.8m
Current investments
+€386,665
Financing
+€4.3m
Debts after one year
+€1.6m
Current portion of long-term debt
+€153,275
Short-term financial debts
+€878,750
Contributions, distributions and other
+€1.6m
Not broken down
-€1
Cash 2024
€212,377
brings cash intakes cash outdifference the filed balance sheets leave
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,461,342 | €13,686,282 | +€4.2m | +44.7% |
| Formation expenses | 20 | - | €39,822 | +€39,822 | |
| Fixed assets | 21/28 | €4,610,083 | €6,304,905 | +€1.7m | +36.8% |
| Intangible fixed assets | 21 | €0 | €278,661 | +€278,661 | |
| Tangible fixed assets | 22/27 | €1,784,144 | €4,655,269 | +€2.9m | +161% |
| Land and buildings | 22 | €1,740,406 | €4,613,867 | +€2.9m | +165% |
| Plant, machinery and equipment | 23 | €1,132 | €844 | -€288 | -25.4% |
| Furniture and vehicles | 24 | €7,500 | €7,500 | = | 0.0% |
| Other tangible fixed assets | 26 | €35,106 | €33,059 | -€2,047 | -5.8% |
| Financial fixed assets | 28 | €2,825,940 | €1,370,974 | -€1.5m | -51.5% |
| Current assets | 29/58 | €4,851,259 | €7,341,554 | +€2.5m | +51.3% |
| Amounts receivable after more than one year | 29 | €13,388 | €2,283,888 | +€2.3m | +16,960% |
| Other amounts receivable | 291 | €13,388 | €2,283,888 | +€2.3m | +16,960% |
| Stocks and contracts in progress | 3 | €2,684,691 | €3,437,259 | +€752,568 | +28.0% |
| Stocks | 30/36 | €2,684,691 | €3,437,259 | +€752,568 | +28.0% |
| Amounts receivable within one year | 40/41 | €186,369 | €169,573 | -€16,796 | -9.0% |
| Trade receivables | 40 | €5,493 | €28,823 | +€23,330 | +425% |
| Other amounts receivable | 41 | €180,876 | €140,750 | -€40,126 | -22.2% |
| Current investments | 50/53 | €1,576,213 | €1,189,548 | -€386,665 | -24.5% |
| Cash at bank and in hand | 54/58 | €380,728 | €212,377 | -€168,351 | -44.2% |
| Deferred charges and accrued income | 490/1 | €9,868 | €48,909 | +€39,041 | +396% |
| Total equity and liabilities | 10/49 | €9,461,342 | €13,686,282 | +€4.2m | +44.7% |
| Equity | 10/15 | €1,377,639 | €2,904,904 | +€1.5m | +111% |
| Contributions | 10/11 | €65,955 | €548,664 | +€482,709 | +732% |
| Capital | 10 | €65,955 | €548,664 | +€482,709 | +732% |
| Issued capital | 100 | €65,955 | €548,664 | +€482,709 | +732% |
| Reserves | 13 | €840,693 | €1,117,749 | +€277,056 | +33.0% |
| Non-distributable reserves | 130/1 | €6,596 | €54,866 | +€48,270 | +732% |
| Legal reserve | 130 | €6,596 | €14,496 | +€7,900 | +120% |
| Reserves not available under the articles | 1311 | - | €40,371 | +€40,371 | |
| Tax-exempt reserves | 132 | €759,098 | €756,683 | -€2,415 | -0.3% |
| Distributable reserves | 133 | €75,000 | €306,200 | +€231,200 | +308% |
| Profit (loss) carried forward | 14 | €470,991 | €1,223,386 | +€752,395 | +160% |
| Investment grants | 15 | - | €15,105 | +€15,105 | |
| Provisions and deferred taxes | 16 | €253,033 | €268,769 | +€15,737 | +6.2% |
| Provisions for liabilities and charges | 160/5 | - | €27,708 | +€27,708 | |
| Other liabilities and charges | 164/5 | - | €27,708 | +€27,708 | |
| Deferred taxes | 168 | €253,033 | €241,061 | -€11,972 | -4.7% |
| Amounts payable | 17/49 | €7,830,670 | €10,512,608 | +€2.7m | +34.2% |
| Amounts payable after more than one year | 17 | €4,589,472 | €6,236,031 | +€1.6m | +35.9% |
| Financial debts | 170/4 | €2,031,456 | €3,712,675 | +€1.7m | +82.8% |
| Other amounts payable | 178/9 | €2,558,016 | €2,523,356 | -€34,660 | -1.4% |
| Amounts payable within one year | 42/48 | €3,109,848 | €4,083,512 | +€973,664 | +31.3% |
| Current portion of amounts payable after more than one year | 42 | €930,055 | €1,083,330 | +€153,275 | +16.5% |
| Financial debts | 43 | €0 | €878,750 | +€878,750 | |
| Credit institutions | 430/8 | €0 | €878,750 | +€878,750 | |
| Trade debts | 44 | €37,755 | €84,709 | +€46,954 | +124% |
| Suppliers | 440/4 | €37,755 | €84,709 | +€46,954 | +124% |
| Taxes, remuneration and social security | 45 | €3,919 | €212,842 | +€208,923 | +5,332% |
| Taxes | 450/3 | €3,919 | €212,842 | +€208,923 | +5,332% |
| Other amounts payable | 47/48 | €2,138,119 | €1,823,881 | -€314,238 | -14.7% |
| Accrued charges and deferred income | 492/3 | €131,350 | €193,065 | +€61,715 | +47.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €131,616 | €82,696 | -€48,920 | -37.2% |
| Other operating charges | 640/8 | €34,826 | €36,521 | +€1,695 | +4.9% |
| Non-recurring operating charges | 66A | - | €66,908 | +€66,908 | |
| Gross operating margin | 9900 | €173,609 | €260,002 | +€86,394 | +49.8% |
| Operating profit (loss) | 9901 | €7,167 | €73,876 | +€66,709 | +931% |
| Financial income | 75/76B | €56,742 | €12,118 | -€44,624 | -78.6% |
| Recurring financial income | 75 | €56,742 | €12,118 | -€44,624 | -78.6% |
| Financial charges | 65/66B | €212,502 | €187,947 | -€24,555 | -11.6% |
| Recurring financial charges | 65 | €212,502 | €187,947 | -€24,555 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | -€148,593 | -€101,953 | +€46,640 | +31.4% |
| Transfer from deferred taxes | 780 | €12,477 | €11,972 | -€505 | -4.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €1,204 | €3,484 | +€2,280 | +189% |
| Profit (loss) for the period | 9904 | -€137,320 | -€93,465 | +€43,855 | +31.9% |
| Transfer from tax-exempt reserves | 789 | €37,431 | €35,915 | -€1,516 | -4.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€99,889 | -€57,550 | +€42,339 | +42.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.