Leart: 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.
Leart
Largest movements
- Receivables after one year -€117,450
no longer reported in 2025 (was €117,450)
- Cash -€7,557
down €7,557 (-20.9%), from €36,168 to €28,611
mainly Contributions, distributions and other (-€146,800) and Tax, wage and social debts (-€19,099)
- Receivables within one year -€4,621
down €4,621 (-10.5%), from €43,808 to €39,187
of which Trade receivables: -€16,208
- Financial fixed assets +€3,000
new in 2025: €3,000
- Reserves -€142,677
down €142,677 (-97.4%), from €146,530 to €3,853
- Other debts +€31,118
up €31,118 (+50.1%), from €62,122 to €93,241
- Tax, wage and social debts -€19,099
down €19,099 (-81.7%), from €23,366 to €4,267
- Trade debts +€3,676
up €3,676 (+282.5%), from €1,301 to €4,978
- Financial charges +€18,326
up €18,326 (+45.9%), from €39,924 to €58,250
- Gross operating margin -€17,693
down €17,693 (-21.2%), from €83,330 to €65,637
- Taxes -€7,453
down €7,453 (-74.5%), from €10,001 to €2,549
- Financial income -€2,965
down €2,965 (-65.2%), from €4,550 to €1,585
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 | €238,320 | €111,339 | -€126,981 | -53.3% |
| Fixed assets | 21/28 | €6,271 | €8,597 | +€2,326 | +37.1% |
| Tangible fixed assets | 22/27 | €6,271 | €5,597 | -€674 | -10.8% |
| Plant, machinery and equipment | 23 | €4,770 | €3,331 | -€1,439 | -30.2% |
| Furniture and vehicles | 24 | €1,501 | €2,266 | +€765 | +51.0% |
| Financial fixed assets | 28 | - | €3,000 | +€3,000 | |
| Current assets | 29/58 | €232,049 | €102,742 | -€129,307 | -55.7% |
| Amounts receivable after more than one year | 29 | €117,450 | - | -€117,450 | |
| Other amounts receivable | 291 | €117,450 | - | -€117,450 | |
| Amounts receivable within one year | 40/41 | €43,808 | €39,187 | -€4,621 | -10.5% |
| Trade receivables | 40 | €29,810 | €13,601 | -€16,208 | -54.4% |
| Other amounts receivable | 41 | €13,999 | €25,586 | +€11,587 | +82.8% |
| Current investments | 50/53 | €31,219 | €31,219 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €36,168 | €28,611 | -€7,557 | -20.9% |
| Deferred charges and accrued income | 490/1 | €3,404 | €3,725 | +€321 | +9.4% |
| Total equity and liabilities | 10/49 | €238,320 | €111,339 | -€126,981 | -53.3% |
| Equity | 10/15 | €151,530 | €8,853 | -€142,677 | -94.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €146,530 | €3,853 | -€142,677 | -97.4% |
| Distributable reserves | 133 | €146,530 | €3,853 | -€142,677 | -97.4% |
| Amounts payable | 17/49 | €86,790 | €102,485 | +€15,695 | +18.1% |
| Amounts payable within one year | 42/48 | €86,790 | €102,485 | +€15,695 | +18.1% |
| Trade debts | 44 | €1,301 | €4,978 | +€3,676 | +282.5% |
| Suppliers | 440/4 | €1,301 | €4,978 | +€3,676 | +282.5% |
| Taxes, remuneration and social security | 45 | €23,366 | €4,267 | -€19,099 | -81.7% |
| Taxes | 450/3 | €23,366 | €4,267 | -€19,099 | -81.7% |
| Other amounts payable | 47/48 | €62,122 | €93,241 | +€31,118 | +50.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,767 | €2,013 | +€246 | +13.9% |
| Other operating charges | 640/8 | €287 | €287 | = | 0.0% |
| Gross operating margin | 9900 | €83,330 | €65,637 | -€17,693 | -21.2% |
| Operating profit (loss) | 9901 | €81,276 | €63,337 | -€17,940 | -22.1% |
| Financial income | 75/76B | €4,550 | €1,585 | -€2,965 | -65.2% |
| Recurring financial income | 75 | €4,550 | €1,585 | -€2,965 | -65.2% |
| Financial charges | 65/66B | €39,924 | €58,250 | +€18,326 | +45.9% |
| Recurring financial charges | 65 | €39,924 | €58,250 | +€18,326 | +45.9% |
| Profit (loss) for the period before taxes | 9903 | €45,902 | €6,672 | -€39,230 | -85.5% |
| Income taxes | 67/77 | €10,001 | €2,549 | -€7,453 | -74.5% |
| Profit (loss) for the period | 9904 | €35,901 | €4,123 | -€31,777 | -88.5% |
| Profit (loss) for the period to be appropriated | 9905 | €35,901 | €4,123 | -€31,777 | -88.5% |
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 3 October 2026 via checked.be.