LEASE-BeL: 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.
What changed
LEASE-BeL
NACE 77.110, Renting and leasing of cars and light motor vehicles
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€155,146
2024 · €6,115+€149,032
Equity
€1.5m
2024 · €1.4m+€87,146
Cash
€57,013
2024 · €173,377-€116,364
Balance sheet total
€15.0m
2024 · €12.9m+€2.1m
Largest movements
Assets
- Receivables within one year +€2.3m
up €2.3m (+47.6%), from €4.7m to €7.0m
of which Other amounts receivable: +€2.1m
Equity and liabilities
- Other debts +€3.2m
up €3.2m (+59.9%), from €5.3m to €8.4m
- Trade debts -€665,369
down €665,369 (-89.4%), from €744,498 to €79,129
- Debts after one year -€279,239
down €279,239 (-5.6%), from €4.9m to €4.7m
- Current portion of long-term debt -€190,530
down €190,530 (-40.6%), from €469,769 to €279,239
Income statement
- Financial charges -€429,110
down €429,110 (-97.4%), from €440,723 to €11,613
- Purchases and services +€285,527
up €285,527 (+134%), from €213,113 to €498,640
- Gross operating margin -€155,470
down €155,470 (-33.9%), from €459,122 to €303,651
- Turnover +€115,317
up €115,317 (+18.2%), from €633,234 to €748,551
- Financial income -€81,040
down €81,040 (-81.2%), from €99,848 to €18,808
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.
Result 2024
€6,115
Gross operating margin
-€155,470
Depreciation
+€3,675
Other operating charges
-€1,107
Financial income
-€81,040
Financial charges
+€429,110
Taxes
-€46,136
Result 2025
€155,146
raises the resultlowers the result
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.
From operations
+€451,036
Investment
-€29,631
Financing
-€537,769
Cash 2024
€173,377
From operations (derived)
+€451,036
Net result for the year
+€155,146
Depreciation
+€95,223
Receivables after one year
-€33,451
Receivables within one year
-€2.3m
Smaller working-capital items
+€16
Trade debts
-€665,369
Other debts
+€3.2m
Investment (derived)
-€29,631
Investment in fixed assets (net)
-€129,631
Current investments
+€100,000
Financing
-€537,769
Debts after one year
-€279,239
Current portion of long-term debt
-€190,530
Contributions, distributions and other
-€68,000
Cash 2025
€57,013
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,851,436 | €14,959,138 | +€2.1m | +16.4% |
| Fixed assets | 21/28 | €211,342 | €245,750 | +€34,408 | +16.3% |
| Tangible fixed assets | 22/27 | €211,342 | €245,750 | +€34,408 | +16.3% |
| Plant, machinery and equipment | 23 | €47,213 | €93,005 | +€45,792 | +97.0% |
| Furniture and vehicles | 24 | €164,129 | €152,745 | -€11,384 | -6.9% |
| Current assets | 29/58 | €12,640,094 | €14,713,388 | +€2.1m | +16.4% |
| Amounts receivable after more than one year | 29 | €7,625,126 | €7,658,578 | +€33,451 | +0.4% |
| Trade receivables | 290 | €7,625,126 | €7,658,578 | +€33,451 | +0.4% |
| Amounts receivable within one year | 40/41 | €4,738,625 | €6,994,748 | +€2.3m | +47.6% |
| Trade receivables | 40 | €2,817,663 | €2,940,496 | +€122,834 | +4.4% |
| Other amounts receivable | 41 | €1,920,963 | €4,054,252 | +€2.1m | +111% |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100% |
| Cash at bank and in hand | 54/58 | €173,377 | €57,013 | -€116,364 | -67.1% |
| Deferred charges and accrued income | 490/1 | €2,965 | €3,049 | +€84 | +2.8% |
| Total equity and liabilities | 10/49 | €12,851,436 | €14,959,138 | +€2.1m | +16.4% |
| Equity | 10/15 | €1,425,089 | €1,512,235 | +€87,146 | +6.1% |
| Contributions | 10/11 | €750,000 | €750,000 | = | 0.0% |
| Capital | 10 | €750,000 | €750,000 | = | 0.0% |
| Issued capital | 100 | €750,000 | €750,000 | = | 0.0% |
| Reserves | 13 | €72,268 | €72,268 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,538 | €17,538 | = | 0.0% |
| Legal reserve | 130 | €17,538 | €17,538 | = | 0.0% |
| Tax-exempt reserves | 132 | €54,730 | €0 | -€54,730 | -100% |
| Distributable reserves | 133 | - | €54,730 | +€54,730 | |
| Profit (loss) carried forward | 14 | €602,821 | €689,967 | +€87,146 | +14.5% |
| Amounts payable | 17/49 | €11,426,347 | €13,446,903 | +€2.0m | +17.7% |
| Amounts payable after more than one year | 17 | €4,947,975 | €4,668,736 | -€279,239 | -5.6% |
| Financial debts | 170/4 | €4,947,975 | €4,668,736 | -€279,239 | -5.6% |
| Amounts payable within one year | 42/48 | €6,478,308 | €8,778,002 | +€2.3m | +35.5% |
| Current portion of amounts payable after more than one year | 42 | €469,769 | €279,239 | -€190,530 | -40.6% |
| Trade debts | 44 | €744,498 | €79,129 | -€665,369 | -89.4% |
| Suppliers | 440/4 | €744,498 | €79,129 | -€665,369 | -89.4% |
| Taxes, remuneration and social security | 45 | €0 | €0 | = | |
| Taxes | 450/3 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €5,264,041 | €8,419,635 | +€3.2m | +59.9% |
| Accrued charges and deferred income | 492/3 | €64 | €164 | +€100 | +156% |
| Turnover | 70 | €633,234 | €748,551 | +€115,317 | +18.2% |
| Non-recurring operating income | 76A | €39,000 | €53,740 | +€14,740 | +37.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €213,113 | €498,640 | +€285,527 | +134% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,899 | €95,223 | -€3,675 | -3.7% |
| Other operating charges | 640/8 | €4,366 | €5,473 | +€1,107 | +25.4% |
| Gross operating margin | 9900 | €459,122 | €303,651 | -€155,470 | -33.9% |
| Operating profit (loss) | 9901 | €355,857 | €202,955 | -€152,902 | -43.0% |
| Financial income | 75/76B | €99,848 | €18,808 | -€81,040 | -81.2% |
| Recurring financial income | 75 | €99,848 | €18,808 | -€81,040 | -81.2% |
| Financial charges | 65/66B | €440,723 | €11,613 | -€429,110 | -97.4% |
| Recurring financial charges | 65 | €440,723 | €11,613 | -€429,110 | -97.4% |
| Profit (loss) for the period before taxes | 9903 | €14,982 | €210,150 | +€195,168 | +1,303% |
| Income taxes | 67/77 | €8,867 | €55,003 | +€46,136 | +520% |
| Profit (loss) for the period | 9904 | €6,115 | €155,146 | +€149,032 | +2,437% |
| Transfer from tax-exempt reserves | 789 | - | €54,730 | +€54,730 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,115 | €209,876 | +€203,762 | +3,332% |
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 24 October 2026 via checked.be.