LEAF: 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.
LEAF
Largest movements
- Cash +€20,390
up €20,390 (+133%), from €15,311 to €35,701
mainly Receivables within one year (+€13,804) and Net result for the year (+€11,041)
- Receivables within one year -€13,804
down €13,804 (-46.3%), from €29,824 to €16,020
of which Trade receivables: -€13,109
- Stocks and contracts -€5,168
down €5,168 (-34.5%), from €14,995 to €9,827
- Deferred charges and accrued income -€4,387
down €4,387 (-84.4%), from €5,200 to €813
- Tangible fixed assets -€1,455
down €1,455 (-22.9%), from €6,349 to €4,894
- Trade debts -€11,154
down €11,154 (-67.4%), from €16,536 to €5,383
- Reserves +€10,215
up €10,215 (+23.3%), from €43,843 to €54,058
- Current portion of long-term debt -€3,236
no longer reported in 2025 (was €3,236)
- Tax, wage and social debts -€1,536
down €1,536 (-32.3%), from €4,760 to €3,225
- Profit (loss) carried forward +€826
no longer reported in 2025 (was -€826)
- Gross operating margin +€21,549
up €21,549 (+286%), from €7,524 to €29,073
- Financial charges +€4,565
up €4,565 (+119%), from €3,825 to €8,391
of which Non-recurring financial charges: +€6,435
- Taxes +€3,869
up €3,869 (+278%), from €1,392 to €5,262
- Other operating charges +€1,410
up €1,410 (+118%), from €1,190 to €2,600
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 | €73,750 | €68,865 | -€4,884 | -6.6% |
| Fixed assets | 21/28 | €8,420 | €6,504 | -€1,916 | -22.8% |
| Intangible fixed assets | 21 | €2,071 | €1,610 | -€461 | -22.3% |
| Tangible fixed assets | 22/27 | €6,349 | €4,894 | -€1,455 | -22.9% |
| Furniture and vehicles | 24 | €6,349 | €4,894 | -€1,455 | -22.9% |
| Current assets | 29/58 | €65,330 | €62,362 | -€2,968 | -4.5% |
| Stocks and contracts in progress | 3 | €14,995 | €9,827 | -€5,168 | -34.5% |
| Stocks | 30/36 | €14,995 | €9,827 | -€5,168 | -34.5% |
| Amounts receivable within one year | 40/41 | €29,824 | €16,020 | -€13,804 | -46.3% |
| Trade receivables | 40 | €20,089 | €6,979 | -€13,109 | -65.3% |
| Other amounts receivable | 41 | €9,735 | €9,040 | -€694 | -7.1% |
| Cash at bank and in hand | 54/58 | €15,311 | €35,701 | +€20,390 | +133% |
| Deferred charges and accrued income | 490/1 | €5,200 | €813 | -€4,387 | -84.4% |
| Total equity and liabilities | 10/49 | €73,750 | €68,865 | -€4,884 | -6.6% |
| Equity | 10/15 | €49,217 | €60,258 | +€11,041 | +22.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €43,843 | €54,058 | +€10,215 | +23.3% |
| Distributable reserves | 133 | €43,843 | €54,058 | +€10,215 | +23.3% |
| Profit (loss) carried forward | 14 | -€826 | - | +€826 | |
| Amounts payable | 17/49 | €24,533 | €8,607 | -€15,925 | -64.9% |
| Amounts payable within one year | 42/48 | €24,533 | €8,607 | -€15,925 | -64.9% |
| Current portion of amounts payable after more than one year | 42 | €3,236 | - | -€3,236 | |
| Trade debts | 44 | €16,536 | €5,383 | -€11,154 | -67.4% |
| Suppliers | 440/4 | €16,536 | €5,383 | -€11,154 | -67.4% |
| Taxes, remuneration and social security | 45 | €4,760 | €3,225 | -€1,536 | -32.3% |
| Taxes | 450/3 | €4,760 | €3,225 | -€1,536 | -32.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,949 | €1,916 | -€33 | -1.7% |
| Other operating charges | 640/8 | €1,190 | €2,600 | +€1,410 | +118% |
| Gross operating margin | 9900 | €7,524 | €29,073 | +€21,549 | +286% |
| Operating profit (loss) | 9901 | €4,386 | €24,557 | +€20,171 | +460% |
| Financial income | 75/76B | €6 | €136 | +€130 | +2,350% |
| Recurring financial income | 75 | €6 | €136 | +€130 | +2,350% |
| Financial charges | 65/66B | €3,825 | €8,391 | +€4,565 | +119% |
| Recurring financial charges | 65 | €3,825 | €1,956 | -€1,869 | -48.9% |
| Non-recurring financial charges | 66B | - | €6,435 | +€6,435 | |
| Profit (loss) for the period before taxes | 9903 | €566 | €16,302 | +€15,736 | +2,780% |
| Income taxes | 67/77 | €1,392 | €5,262 | +€3,869 | +278% |
| Profit (loss) for the period | 9904 | -€826 | €11,041 | +€11,867 | |
| Profit (loss) for the period to be appropriated | 9905 | -€826 | €11,041 | +€11,867 |
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.