Lean Leadership: what changed
Lean Leadership
Largest movements
- Cash -€11,236
down €11,236 (-57.6%), from €19,503 to €8,267
mainly Trade debts (-€9,909) and Investment in fixed assets (net) (-€6,466)
- Intangible fixed assets +€5,957
new in 2025: €5,957
- Receivables within one year +€1,469
up €1,469 (+2.4%), from €61,655 to €63,124
of which Trade receivables: +€6,453
- Reserves +€11,624
up €11,624 (+27.4%), from €42,361 to €53,985
- Trade debts -€9,909
down €9,909 (-40.0%), from €24,776 to €14,866
- Tax, wage and social debts -€5,206
down €5,206 (-46.7%), from €11,140 to €5,934
- Gross operating margin -€38,509
down €38,509 (-71.4%), from €53,903 to €15,394
- Taxes -€8,170
down €8,170 (-73.3%), from €11,140 to €2,970
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €81,315 | €77,834 | -€3,482 | -4.3% |
| Fixed assets | 21/28 | - | €6,257 | +€6,257 | |
| Intangible fixed assets | 21 | - | €5,957 | +€5,957 | |
| Financial fixed assets | 28 | - | €300 | +€300 | |
| Current assets | 29/58 | €81,315 | €71,576 | -€9,739 | -12.0% |
| Amounts receivable within one year | 40/41 | €61,655 | €63,124 | +€1,469 | +2.4% |
| Trade receivables | 40 | €54,312 | €60,765 | +€6,453 | +11.9% |
| Other amounts receivable | 41 | €7,343 | €2,359 | -€4,983 | -67.9% |
| Cash at bank and in hand | 54/58 | €19,503 | €8,267 | -€11,236 | -57.6% |
| Deferred charges and accrued income | 490/1 | €158 | €186 | +€28 | +17.7% |
| Total equity and liabilities | 10/49 | €81,315 | €77,834 | -€3,482 | -4.3% |
| Equity | 10/15 | €45,361 | €56,985 | +€11,624 | +25.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €42,361 | €53,985 | +€11,624 | +27.4% |
| Distributable reserves | 133 | €42,361 | €53,985 | +€11,624 | +27.4% |
| Amounts payable | 17/49 | €35,954 | €20,849 | -€15,105 | -42.0% |
| Amounts payable within one year | 42/48 | €35,945 | €20,830 | -€15,115 | -42.1% |
| Trade debts | 44 | €24,776 | €14,866 | -€9,909 | -40.0% |
| Suppliers | 440/4 | €24,776 | €14,866 | -€9,909 | -40.0% |
| Taxes, remuneration and social security | 45 | €11,140 | €5,934 | -€5,206 | -46.7% |
| Taxes | 450/3 | €11,140 | €5,934 | -€5,206 | -46.7% |
| Other amounts payable | 47/48 | €30 | €30 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €8 | €19 | +€10 | +122% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €208 | +€208 | |
| Other operating charges | 640/8 | €387 | €462 | +€74 | +19.2% |
| Gross operating margin | 9900 | €53,903 | €15,394 | -€38,509 | -71.4% |
| Operating profit (loss) | 9901 | €53,516 | €14,724 | -€38,792 | -72.5% |
| Financial income | 75/76B | - | €122 | +€122 | |
| Recurring financial income | 75 | - | €122 | +€122 | |
| Financial charges | 65/66B | €14 | €252 | +€238 | +1,666% |
| Recurring financial charges | 65 | €14 | €252 | +€238 | +1,666% |
| Profit (loss) for the period before taxes | 9903 | €53,501 | €14,594 | -€38,908 | -72.7% |
| Income taxes | 67/77 | €11,140 | €2,970 | -€8,170 | -73.3% |
| Profit (loss) for the period | 9904 | €42,361 | €11,624 | -€30,738 | -72.6% |
| Profit (loss) for the period to be appropriated | 9905 | €42,361 | €11,624 | -€30,738 | -72.6% |
Next steps
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 5 November 2026 via checked.be.