LEAD4BELGIUM: 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.
LEAD4BELGIUM
Largest movements
- Receivables within one year +€23,479
up €23,479 (+7.1%), from €330,168 to €353,646
of which Trade receivables: +€22,912
- Tangible fixed assets +€11,585
new in 2025: €11,585
- Cash +€7,692
up €7,692 (+285%), from €2,697 to €10,389
mainly Net result for the year (+€16,705) and Trade debts (+€11,470)
- Profit (loss) carried forward +€16,705
up €16,705 (+8.1%), from €206,714 to €223,419
- Trade debts +€11,470
up €11,470 (+195%), from €5,893 to €17,363
- Tax, wage and social debts +€9,034
up €9,034 (+11.9%), from €75,700 to €84,734
- Other debts +€5,546
up €5,546, from €0 to €5,546
- Gross operating margin -€185,717
down €185,717 (-79.1%), from €234,902 to €49,185
- Taxes +€13,668
up €13,668 (+513%), from €2,662 to €16,330
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 | €332,865 | €375,620 | +€42,755 | +12.8% |
| Fixed assets | 21/28 | - | €11,585 | +€11,585 | |
| Tangible fixed assets | 22/27 | - | €11,585 | +€11,585 | |
| Assets under construction and advance payments | 27 | - | €11,585 | +€11,585 | |
| Current assets | 29/58 | €332,865 | €364,035 | +€31,171 | +9.4% |
| Amounts receivable within one year | 40/41 | €330,168 | €353,646 | +€23,479 | +7.1% |
| Trade receivables | 40 | €27,277 | €50,189 | +€22,912 | +84.0% |
| Other amounts receivable | 41 | €302,891 | €303,457 | +€566 | +0.2% |
| Cash at bank and in hand | 54/58 | €2,697 | €10,389 | +€7,692 | +285% |
| Total equity and liabilities | 10/49 | €332,865 | €375,620 | +€42,755 | +12.8% |
| Equity | 10/15 | €251,272 | €267,977 | +€16,705 | +6.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €32,158 | €32,158 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €30,298 | €30,298 | = | 0.0% |
| Profit (loss) carried forward | 14 | €206,714 | €223,419 | +€16,705 | +8.1% |
| Amounts payable | 17/49 | €81,593 | €107,643 | +€26,050 | +31.9% |
| Amounts payable within one year | 42/48 | €81,593 | €107,643 | +€26,050 | +31.9% |
| Trade debts | 44 | €5,893 | €17,363 | +€11,470 | +195% |
| Suppliers | 440/4 | €5,893 | €17,363 | +€11,470 | +195% |
| Taxes, remuneration and social security | 45 | €75,700 | €84,734 | +€9,034 | +11.9% |
| Taxes | 450/3 | €75,700 | €84,734 | +€9,034 | +11.9% |
| Other amounts payable | 47/48 | €0 | €5,546 | +€5,546 | |
| Non-recurring operating income | 76A | €192,214 | €0 | -€192,214 | -100% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €515 | €601 | +€86 | +16.7% |
| Non-recurring operating charges | 66A | €241,715 | €31,815 | -€209,900 | -86.8% |
| Gross operating margin | 9900 | €234,902 | €49,185 | -€185,717 | -79.1% |
| Operating profit (loss) | 9901 | -€7,328 | €16,770 | +€24,097 | |
| Financial income | 75/76B | €17,697 | €16,749 | -€948 | -5.4% |
| Recurring financial income | 75 | €17,697 | €16,749 | -€948 | -5.4% |
| Financial charges | 65/66B | €601 | €484 | -€118 | -19.6% |
| Recurring financial charges | 65 | €601 | €484 | -€118 | -19.6% |
| Profit (loss) for the period before taxes | 9903 | €9,768 | €33,035 | +€23,267 | +238% |
| Income taxes | 67/77 | €2,662 | €16,330 | +€13,668 | +513% |
| Profit (loss) for the period | 9904 | €7,107 | €16,705 | +€9,599 | +135% |
| Profit (loss) for the period to be appropriated | 9905 | €7,107 | €16,705 | +€9,599 | +135% |
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 14 October 2026 via checked.be.