LEADERMAN: 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.
LEADERMAN
Largest movements
- Receivables within one year +€347,985
up €347,985 (+165.9%), from €209,704 to €557,690
of which Other amounts receivable: +€248,313
- Stocks and contracts -€100,000
down €100,000 (-40.0%), from €250,000 to €150,000
- Cash +€88,036
up €88,036 (+287.4%), from €30,628 to €118,665
- Profit (loss) carried forward +€336,042
up €336,042 (+1551.3%), from €21,662 to €357,703
- Other debts +€36,217
up €36,217 (+21.9%), from €165,477 to €201,694
- Tax, wage and social debts -€25,481
down €25,481 (-66.4%), from €38,403 to €12,922
- Accrued charges and deferred income -€23,896
down €23,896 (-12.1%), from €198,289 to €174,393
- Trade debts +€15,176
up €15,176 (+92.5%), from €16,406 to €31,582
- Gross operating margin +€93,693
up €93,693 (+36.1%), from €259,362 to €353,054
- Taxes -€12,477
no longer reported in 2025 (was €12,477)
- Financial charges -€5,609
down €5,609 (-31.8%), from €17,667 to €12,058
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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €508,407 | €846,511 | +€338,104 | +66.5% |
| Fixed assets | 21/28 | €13,551 | €13,442 | -€109 | -0.8% |
| Intangible fixed assets | 21 | €6,608 | €3,225 | -€3,383 | -51.2% |
| Tangible fixed assets | 22/27 | €6,942 | €10,217 | +€3,275 | +47.2% |
| Furniture and vehicles | 24 | €6,942 | €10,217 | +€3,275 | +47.2% |
| Current assets | 29/58 | €494,856 | €833,069 | +€338,213 | +68.3% |
| Stocks and contracts in progress | 3 | €250,000 | €150,000 | -€100,000 | -40.0% |
| Contracts in progress | 37 | €250,000 | €150,000 | -€100,000 | -40.0% |
| Amounts receivable within one year | 40/41 | €209,704 | €557,690 | +€347,985 | +165.9% |
| Trade receivables | 40 | €70,276 | €169,948 | +€99,673 | +141.8% |
| Other amounts receivable | 41 | €139,429 | €387,741 | +€248,313 | +178.1% |
| Cash at bank and in hand | 54/58 | €30,628 | €118,665 | +€88,036 | +287.4% |
| Deferred charges and accrued income | 490/1 | €4,524 | €6,715 | +€2,191 | +48.4% |
| Total equity and liabilities | 10/49 | €508,407 | €846,511 | +€338,104 | +66.5% |
| Equity | 10/15 | €89,832 | €425,874 | +€336,042 | +374.1% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €6,197 | €6,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,662 | €357,703 | +€336,042 | +1551.3% |
| Amounts payable | 17/49 | €418,575 | €420,637 | +€2,062 | +0.5% |
| Amounts payable within one year | 42/48 | €220,286 | €246,244 | +€25,958 | +11.8% |
| Financial debts | 43 | - | €45 | +€45 | |
| Credit institutions | 430/8 | - | €45 | +€45 | |
| Trade debts | 44 | €16,406 | €31,582 | +€15,176 | +92.5% |
| Suppliers | 440/4 | €16,406 | €31,582 | +€15,176 | +92.5% |
| Taxes, remuneration and social security | 45 | €38,403 | €12,922 | -€25,481 | -66.4% |
| Taxes | 450/3 | €38,403 | €12,922 | -€25,481 | -66.4% |
| Other amounts payable | 47/48 | €165,477 | €201,694 | +€36,217 | +21.9% |
| Accrued charges and deferred income | 492/3 | €198,289 | €174,393 | -€23,896 | -12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,916 | €7,592 | -€324 | -4.1% |
| Other operating charges | 640/8 | €433 | €550 | +€116 | +26.9% |
| Non-recurring operating charges | 66A | - | €541 | +€541 | |
| Gross operating margin | 9900 | €259,362 | €353,054 | +€93,693 | +36.1% |
| Operating profit (loss) | 9901 | €251,012 | €344,372 | +€93,359 | +37.2% |
| Financial income | 75/76B | €1,831 | €3,728 | +€1,897 | +103.6% |
| Recurring financial income | 75 | €1,831 | €3,728 | +€1,897 | +103.6% |
| Financial charges | 65/66B | €17,667 | €12,058 | -€5,609 | -31.8% |
| Recurring financial charges | 65 | €17,667 | €12,058 | -€5,609 | -31.8% |
| Profit (loss) for the period before taxes | 9903 | €235,176 | €336,042 | +€100,865 | +42.9% |
| Income taxes | 67/77 | €12,477 | - | -€12,477 | |
| Profit (loss) for the period | 9904 | €222,699 | €336,042 | +€113,343 | +50.9% |
| Profit (loss) for the period to be appropriated | 9905 | €222,699 | €336,042 | +€113,343 | +50.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.