LEAG: 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.
LEAG
Largest movements
- Current investments +€70,000
new in 2025: €70,000
- Cash -€55,832
down €55,832 (-43.8%), from €127,346 to €71,514
mainly Current investments (-€70,000) and Contributions, distributions and other (-€50,000)
- Receivables within one year -€26,310
down €26,310 (-69.0%), from €38,139 to €11,829
of which Trade receivables: -€25,410
- Deferred charges and accrued income -€1,754
down €1,754 (-88.1%), from €1,990 to €236
- Other debts +€50,000
new in 2025: €50,000
- Debts after one year -€41,148
down €41,148 (-42.1%), from €97,655 to €56,507
- Reserves -€18,313
down €18,313 (-42.8%), from €42,824 to €24,511
- Trade debts -€4,276
down €4,276 (-72.7%), from €5,883 to €1,607
- Accrued charges and deferred income -€2,322
down €2,322 (-100.0%), from €2,322 to €0
- Gross operating margin +€51,747
up €51,747, from -€14,118 to €37,629
- Taxes +€4,577
new in 2025: €4,577
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 | €169,634 | €154,908 | -€14,727 | -8.7% |
| Fixed assets | 21/28 | €2,049 | €1,329 | -€721 | -35.2% |
| Tangible fixed assets | 22/27 | €2,049 | €1,329 | -€721 | -35.2% |
| Furniture and vehicles | 24 | €2,049 | €1,329 | -€721 | -35.2% |
| Current assets | 29/58 | €167,585 | €153,579 | -€14,006 | -8.4% |
| Amounts receivable after more than one year | 29 | €110 | €0 | -€110 | -100.0% |
| Other amounts receivable | 291 | €110 | €0 | -€110 | -100.0% |
| Amounts receivable within one year | 40/41 | €38,139 | €11,829 | -€26,310 | -69.0% |
| Trade receivables | 40 | €33,880 | €8,470 | -€25,410 | -75.0% |
| Other amounts receivable | 41 | €4,259 | €3,359 | -€900 | -21.1% |
| Current investments | 50/53 | - | €70,000 | +€70,000 | |
| Cash at bank and in hand | 54/58 | €127,346 | €71,514 | -€55,832 | -43.8% |
| Deferred charges and accrued income | 490/1 | €1,990 | €236 | -€1,754 | -88.1% |
| Total equity and liabilities | 10/49 | €169,634 | €154,908 | -€14,727 | -8.7% |
| Equity | 10/15 | €61,424 | €43,111 | -€18,313 | -29.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €42,824 | €24,511 | -€18,313 | -42.8% |
| Distributable reserves | 133 | €42,824 | €24,511 | -€18,313 | -42.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €108,210 | €111,797 | +€3,587 | +3.3% |
| Amounts payable after more than one year | 17 | €97,655 | €56,507 | -€41,148 | -42.1% |
| Other amounts payable | 178/9 | €97,655 | €56,507 | -€41,148 | -42.1% |
| Amounts payable within one year | 42/48 | €8,233 | €55,290 | +€47,057 | +571.5% |
| Trade debts | 44 | €5,883 | €1,607 | -€4,276 | -72.7% |
| Suppliers | 440/4 | €5,883 | €1,607 | -€4,276 | -72.7% |
| Taxes, remuneration and social security | 45 | €2,350 | €3,684 | +€1,333 | +56.7% |
| Taxes | 450/3 | €2,350 | €3,684 | +€1,333 | +56.7% |
| Other amounts payable | 47/48 | - | €50,000 | +€50,000 | |
| Accrued charges and deferred income | 492/3 | €2,322 | €0 | -€2,322 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,023 | €721 | -€302 | -29.6% |
| Other operating charges | 640/8 | €513 | €528 | +€14 | +2.8% |
| Gross operating margin | 9900 | -€14,118 | €37,629 | +€51,747 | |
| Operating profit (loss) | 9901 | -€15,654 | €36,380 | +€52,034 | |
| Financial charges | 65/66B | €57 | €116 | +€59 | +104.0% |
| Recurring financial charges | 65 | €57 | €116 | +€59 | +104.0% |
| Profit (loss) for the period before taxes | 9903 | -€15,711 | €36,264 | +€51,975 | |
| Income taxes | 67/77 | - | €4,577 | +€4,577 | |
| Profit (loss) for the period | 9904 | -€15,711 | €31,687 | +€47,398 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,711 | €31,687 | +€47,398 |
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 8 October 2026 via checked.be.