Lead Ventures: 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.
Lead Ventures
Largest movements
- Receivables within one year -€73,796
down €73,796 (-68.0%), from €108,554 to €34,758
of which Trade receivables: -€40,179
- Financial fixed assets +€51,667
up €51,667 (+2.7%), from €1.9m to €1.9m
- Cash -€29,794
down €29,794 (-37.3%), from €79,806 to €50,011
mainly Debts after one year (-€190,397) and Investment in fixed assets (net) (-€55,539)
- Debts after one year -€190,397
down €190,397 (-18.6%), from €1.0m to €834,135
- Profit (loss) carried forward +€155,952
up €155,952 (+28.4%), from €549,807 to €705,758
- Gross operating margin -€32,393
down €32,393 (-12.3%), from €264,225 to €231,832
- Financial charges +€24,673
up €24,673 (+32.3%), from €76,485 to €101,158
- Taxes -€22,906
down €22,906 (-58.6%), from €39,122 to €16,216
- Staff costs +€13,680
up €13,680 (+30.2%), from €45,330 to €59,010
- Financial income +€9,471
up €9,471 (+9.2%), from €103,381 to €112,852
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 | €2,081,387 | €2,028,983 | -€52,404 | -2.5% |
| Fixed assets | 21/28 | €1,889,993 | €1,938,554 | +€48,561 | +2.6% |
| Tangible fixed assets | 22/27 | €9,375 | €6,269 | -€3,106 | -33.1% |
| Plant, machinery and equipment | 23 | €156 | €4 | -€152 | -97.4% |
| Furniture and vehicles | 24 | €8,237 | €4,345 | -€3,892 | -47.2% |
| Other tangible fixed assets | 26 | - | €1,920 | +€1,920 | |
| Assets under construction and advance payments | 27 | €982 | €0 | -€982 | -100.0% |
| Financial fixed assets | 28 | €1,880,618 | €1,932,285 | +€51,667 | +2.7% |
| Current assets | 29/58 | €191,394 | €90,429 | -€100,965 | -52.8% |
| Amounts receivable within one year | 40/41 | €108,554 | €34,758 | -€73,796 | -68.0% |
| Trade receivables | 40 | €41,596 | €1,416 | -€40,179 | -96.6% |
| Other amounts receivable | 41 | €66,958 | €33,341 | -€33,617 | -50.2% |
| Cash at bank and in hand | 54/58 | €79,806 | €50,011 | -€29,794 | -37.3% |
| Deferred charges and accrued income | 490/1 | €3,035 | €5,660 | +€2,625 | +86.5% |
| Total equity and liabilities | 10/49 | €2,081,387 | €2,028,983 | -€52,404 | -2.5% |
| Equity | 10/15 | €553,807 | €709,758 | +€155,952 | +28.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €549,807 | €705,758 | +€155,952 | +28.4% |
| Amounts payable | 17/49 | €1,527,580 | €1,319,225 | -€208,355 | -13.6% |
| Amounts payable after more than one year | 17 | €1,024,532 | €834,135 | -€190,397 | -18.6% |
| Financial debts | 170/4 | €1,024,532 | €834,135 | -€190,397 | -18.6% |
| Amounts payable within one year | 42/48 | €476,776 | €461,368 | -€15,408 | -3.2% |
| Current portion of amounts payable after more than one year | 42 | €187,049 | €190,397 | +€3,348 | +1.8% |
| Trade debts | 44 | €5,586 | €13,992 | +€8,406 | +150.5% |
| Suppliers | 440/4 | €5,586 | €13,992 | +€8,406 | +150.5% |
| Taxes, remuneration and social security | 45 | €103,494 | €84,604 | -€18,890 | -18.3% |
| Taxes | 450/3 | €92,083 | €68,942 | -€23,141 | -25.1% |
| Remuneration and social security | 454/9 | €11,411 | €15,662 | +€4,251 | +37.3% |
| Other amounts payable | 47/48 | €180,647 | €172,374 | -€8,273 | -4.6% |
| Accrued charges and deferred income | 492/3 | €26,272 | €23,722 | -€2,550 | -9.7% |
| Non-recurring operating income | 76A | - | €10,239 | +€10,239 | |
| Remuneration, social security and pensions | 62 | €45,330 | €59,010 | +€13,680 | +30.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,352 | €6,978 | -€3,374 | -32.6% |
| Other operating charges | 640/8 | €475 | €3,792 | +€3,317 | +697.6% |
| Non-recurring operating charges | 66A | - | €1,578 | +€1,578 | |
| Gross operating margin | 9900 | €264,225 | €231,832 | -€32,393 | -12.3% |
| Operating profit (loss) | 9901 | €208,068 | €160,474 | -€47,594 | -22.9% |
| Financial income | 75/76B | €103,381 | €112,852 | +€9,471 | +9.2% |
| Recurring financial income | 75 | €103,381 | €112,852 | +€9,471 | +9.2% |
| Financial charges | 65/66B | €76,485 | €101,158 | +€24,673 | +32.3% |
| Recurring financial charges | 65 | €76,485 | €101,158 | +€24,673 | +32.3% |
| Profit (loss) for the period before taxes | 9903 | €234,963 | €172,167 | -€62,796 | -26.7% |
| Income taxes | 67/77 | €39,122 | €16,216 | -€22,906 | -58.6% |
| Profit (loss) for the period | 9904 | €195,841 | €155,952 | -€39,890 | -20.4% |
| Profit (loss) for the period to be appropriated | 9905 | €195,841 | €155,952 | -€39,890 | -20.4% |
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.