Leadwood Capital: what changed
What changed
Leadwood Capital
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€283,086
2024 · €224,927+€58,160
Equity
€1.6m
2024 · €1.4m+€155,886
Cash
€715,751
2024 · €494,049+€221,702
Balance sheet total
€1.9m
2024 · €1.6m+€355,307
Largest movements
Assets
- Cash +€221,702
up €221,702 (+44.9%), from €494,049 to €715,751
mainly Net result for the year (+€283,086) and Other debts (+€185,647)
- Financial fixed assets +€54,150
up €54,150 (+19.1%), from €284,041 to €338,191
- Tangible fixed assets +€44,417
up €44,417 (+8.8%), from €506,413 to €550,830
of which Other tangible fixed assets: +€57,543
- Receivables within one year +€29,106
up €29,106 (+11.0%), from €265,371 to €294,477
of which Other amounts receivable: +€29,540
Equity and liabilities
- Other debts +€185,647
up €185,647 (+258%), from €72,013 to €257,660
- Reserves +€155,886
up €155,886 (+11.3%), from €1.4m to €1.5m
Income statement
- Gross operating margin +€46,359
up €46,359 (+11.6%), from €398,202 to €444,561
- Taxes -€14,093
down €14,093 (-13.1%), from €107,188 to €93,095
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€224,927
Gross operating margin
+€46,359
Depreciation
-€2,027
Other operating charges
-€299
Other operating items
+€28
Financial income
+€1,741
Financial charges
-€1,735
Taxes
+€14,093
Result 2025
€283,086
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€496,853
Investment
-€147,951
Financing
-€127,200
Cash 2024
€494,049
From operations (derived)
+€496,853
Net result for the year
+€283,086
Depreciation
+€49,383
Receivables within one year
-€29,106
Deferred charges and accrued income
-€5,931
Trade debts
-€2,911
Tax, wage and social debts
+€14,996
Other debts
+€185,647
Accrued charges and deferred income
+€1,689
Investment (derived)
-€147,951
Investment in fixed assets (net)
-€147,951
Financing
-€127,200
Contributions, distributions and other
-€127,200
Cash 2025
€715,751
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,550,719 | €1,906,025 | +€355,307 | +22.9% |
| Fixed assets | 21/28 | €790,454 | €889,021 | +€98,567 | +12.5% |
| Tangible fixed assets | 22/27 | €506,413 | €550,830 | +€44,417 | +8.8% |
| Furniture and vehicles | 24 | €164,856 | €151,731 | -€13,125 | -8.0% |
| Other tangible fixed assets | 26 | €341,557 | €399,099 | +€57,543 | +16.8% |
| Financial fixed assets | 28 | €284,041 | €338,191 | +€54,150 | +19.1% |
| Current assets | 29/58 | €760,265 | €1,017,004 | +€256,739 | +33.8% |
| Amounts receivable within one year | 40/41 | €265,371 | €294,477 | +€29,106 | +11.0% |
| Trade receivables | 40 | €434 | - | -€434 | |
| Other amounts receivable | 41 | €264,937 | €294,477 | +€29,540 | +11.1% |
| Cash at bank and in hand | 54/58 | €494,049 | €715,751 | +€221,702 | +44.9% |
| Deferred charges and accrued income | 490/1 | €844 | €6,776 | +€5,931 | +703% |
| Total equity and liabilities | 10/49 | €1,550,719 | €1,906,025 | +€355,307 | +22.9% |
| Equity | 10/15 | €1,402,378 | €1,558,264 | +€155,886 | +11.1% |
| Contributions | 10/11 | €17,885 | €17,885 | = | 0.0% |
| Reserves | 13 | €1,384,493 | €1,540,379 | +€155,886 | +11.3% |
| Distributable reserves | 133 | €1,384,493 | €1,540,379 | +€155,886 | +11.3% |
| Amounts payable | 17/49 | €148,341 | €347,761 | +€199,420 | +134% |
| Amounts payable after more than one year | 17 | €3,911 | €3,911 | = | 0.0% |
| Other amounts payable | 178/9 | €3,911 | €3,911 | = | 0.0% |
| Amounts payable within one year | 42/48 | €131,948 | €329,680 | +€197,732 | +150% |
| Trade debts | 44 | €6,388 | €3,477 | -€2,911 | -45.6% |
| Suppliers | 440/4 | €6,388 | €3,477 | -€2,911 | -45.6% |
| Taxes, remuneration and social security | 45 | €53,547 | €68,543 | +€14,996 | +28.0% |
| Taxes | 450/3 | €53,547 | €68,543 | +€14,996 | +28.0% |
| Other amounts payable | 47/48 | €72,013 | €257,660 | +€185,647 | +258% |
| Accrued charges and deferred income | 492/3 | €12,482 | €14,170 | +€1,689 | +13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,357 | €49,383 | +€2,027 | +4.3% |
| Other operating charges | 640/8 | €9,503 | €9,801 | +€299 | +3.1% |
| Non-recurring operating charges | 66A | €179 | €152 | -€28 | -15.4% |
| Gross operating margin | 9900 | €398,202 | €444,561 | +€46,359 | +11.6% |
| Operating profit (loss) | 9901 | €341,164 | €385,225 | +€44,061 | +12.9% |
| Financial income | 75/76B | €2,856 | €4,596 | +€1,741 | +61.0% |
| Recurring financial income | 75 | €2,856 | €4,596 | +€1,741 | +61.0% |
| Financial charges | 65/66B | €11,905 | €13,640 | +€1,735 | +14.6% |
| Recurring financial charges | 65 | €11,905 | €13,640 | +€1,735 | +14.6% |
| Profit (loss) for the period before taxes | 9903 | €332,114 | €376,181 | +€44,067 | +13.3% |
| Income taxes | 67/77 | €107,188 | €93,095 | -€14,093 | -13.1% |
| Profit (loss) for the period | 9904 | €224,927 | €283,086 | +€58,160 | +25.9% |
| Profit (loss) for the period to be appropriated | 9905 | €224,927 | €283,086 | +€58,160 | +25.9% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.