LEANDER: 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.
LEANDER
Largest movements
- Tangible fixed assets +€220,194
up €220,194 (+43.5%), from €506,646 to €726,840
of which Land and buildings: +€250,728
- Cash +€51,479
up €51,479 (+149.8%), from €34,358 to €85,837
mainly Debts after one year (+€200,758) and Net result for the year (+€70,537)
- Receivables after one year -€45,563
down €45,563 (-36.0%), from €126,563 to €81,000
- Receivables within one year +€24,983
up €24,983 (+43.0%), from €58,037 to €83,020
of which Trade receivables: +€19,945
- Debts after one year +€200,758
up €200,758 (+52.9%), from €379,297 to €580,056
- Reserves +€70,537
up €70,537 (+48.4%), from €145,831 to €216,368
- Short-term financial debts +€43,317
new in 2025: €43,317
- Current portion of long-term debt -€37,334
down €37,334 (-100.0%), from €37,334 to €0
- Trade debts -€34,056
down €34,056 (-39.4%), from €86,499 to €52,443
- Gross operating margin +€159,008
up €159,008 (+108.7%), from €146,291 to €305,299
- Staff costs +€91,256
up €91,256 (+940.0%), from €9,708 to €100,965
- Taxes +€17,210
up €17,210 (+122.7%), from €14,028 to €31,239
- Financial charges +€15,449
up €15,449 (+76.5%), from €20,206 to €35,655
- Depreciation +€8,145
up €8,145 (+15.0%), from €54,307 to €62,452
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 | €725,603 | €978,472 | +€252,869 | +34.8% |
| Fixed assets | 21/28 | €506,646 | €726,840 | +€220,194 | +43.5% |
| Tangible fixed assets | 22/27 | €506,646 | €726,840 | +€220,194 | +43.5% |
| Land and buildings | 22 | €434,334 | €685,061 | +€250,728 | +57.7% |
| Plant, machinery and equipment | 23 | €18,250 | €14,622 | -€3,628 | -19.9% |
| Furniture and vehicles | 24 | €46,009 | €22,296 | -€23,714 | -51.5% |
| Other tangible fixed assets | 26 | €8,053 | €4,860 | -€3,192 | -39.6% |
| Current assets | 29/58 | €218,957 | €251,633 | +€32,675 | +14.9% |
| Amounts receivable after more than one year | 29 | €126,563 | €81,000 | -€45,563 | -36.0% |
| Other amounts receivable | 291 | €126,563 | €81,000 | -€45,563 | -36.0% |
| Amounts receivable within one year | 40/41 | €58,037 | €83,020 | +€24,983 | +43.0% |
| Trade receivables | 40 | €58,037 | €77,982 | +€19,945 | +34.4% |
| Other amounts receivable | 41 | €0 | €5,038 | +€5,038 | |
| Cash at bank and in hand | 54/58 | €34,358 | €85,837 | +€51,479 | +149.8% |
| Deferred charges and accrued income | 490/1 | - | €1,776 | +€1,776 | |
| Total equity and liabilities | 10/49 | €725,603 | €978,472 | +€252,869 | +34.8% |
| Equity | 10/15 | €153,831 | €224,368 | +€70,537 | +45.9% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €145,831 | €216,368 | +€70,537 | +48.4% |
| Distributable reserves | 133 | €145,831 | €216,368 | +€70,537 | +48.4% |
| Amounts payable | 17/49 | €571,772 | €754,104 | +€182,332 | +31.9% |
| Amounts payable after more than one year | 17 | €379,297 | €580,056 | +€200,758 | +52.9% |
| Financial debts | 170/4 | €379,297 | €580,056 | +€200,758 | +52.9% |
| Amounts payable within one year | 42/48 | €192,475 | €174,049 | -€18,426 | -9.6% |
| Current portion of amounts payable after more than one year | 42 | €37,334 | €0 | -€37,334 | -100.0% |
| Financial debts | 43 | - | €43,317 | +€43,317 | |
| Credit institutions | 430/8 | - | €43,317 | +€43,317 | |
| Trade debts | 44 | €86,499 | €52,443 | -€34,056 | -39.4% |
| Suppliers | 440/4 | €86,499 | €52,443 | -€34,056 | -39.4% |
| Taxes, remuneration and social security | 45 | €68,418 | €73,291 | +€4,873 | +7.1% |
| Taxes | 450/3 | €65,937 | €50,179 | -€15,758 | -23.9% |
| Remuneration and social security | 454/9 | €2,481 | €23,112 | +€20,631 | +831.5% |
| Other amounts payable | 47/48 | €223 | €4,998 | +€4,775 | +2141.7% |
| Remuneration, social security and pensions | 62 | €9,708 | €100,965 | +€91,256 | +940.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,307 | €62,452 | +€8,145 | +15.0% |
| Other operating charges | 640/8 | €4,329 | €6,854 | +€2,525 | +58.3% |
| Gross operating margin | 9900 | €146,291 | €305,299 | +€159,008 | +108.7% |
| Operating profit (loss) | 9901 | €77,947 | €135,028 | +€57,082 | +73.2% |
| Financial income | 75/76B | €1,716 | €2,402 | +€686 | +40.0% |
| Recurring financial income | 75 | €1,716 | €2,402 | +€686 | +40.0% |
| Financial charges | 65/66B | €20,206 | €35,655 | +€15,449 | +76.5% |
| Recurring financial charges | 65 | €20,206 | €35,655 | +€15,449 | +76.5% |
| Profit (loss) for the period before taxes | 9903 | €59,456 | €101,775 | +€42,319 | +71.2% |
| Income taxes | 67/77 | €14,028 | €31,239 | +€17,210 | +122.7% |
| Profit (loss) for the period | 9904 | €45,428 | €70,537 | +€25,109 | +55.3% |
| Profit (loss) for the period to be appropriated | 9905 | €45,428 | €70,537 | +€25,109 | +55.3% |
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 6 October 2026 via checked.be.