LEASON: 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.
LEASON
Largest movements
- Financial fixed assets +€749,580
up €749,580 (+5.7%), from €13.2m to €13.9m
- Cash -€622,428
down €622,428 (-37.5%), from €1.7m to €1.0m
mainly Investment in fixed assets (net) (-€774,339) and Accrued charges and deferred income (-€380,749)
- Tangible fixed assets -€364,558
down €364,558 (-3.9%), from €9.2m to €8.9m
of which Land and buildings: -€363,012
- Accrued charges and deferred income -€380,749
down €380,749 (-5.8%), from €6.6m to €6.2m
- Financial income +€374,072
up €374,072 (+86.2%), from €433,923 to €807,996
- Financial charges +€135,548
up €135,548 (+430.3%), from €31,500 to €167,048
of which Financial charges: +€135,339
- Gross operating margin -€67,600
down €67,600 (-49.2%), from €137,357 to €69,757
- Staff costs +€10,659
up €10,659 (+12.3%), from €86,350 to €97,009
- Other operating charges -€4,575
down €4,575 (-14.9%), from €30,732 to €26,157
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 | €34,582,902 | €33,774,510 | -€808,391 | -2.3% |
| Fixed assets | 21/28 | €22,392,969 | €22,777,992 | +€385,022 | +1.7% |
| Tangible fixed assets | 22/27 | €9,241,890 | €8,877,332 | -€364,558 | -3.9% |
| Land and buildings | 22 | €9,159,354 | €8,796,342 | -€363,012 | -4.0% |
| Plant, machinery and equipment | 23 | €5,036 | €3,490 | -€1,546 | -30.7% |
| Other tangible fixed assets | 26 | €77,500 | €77,500 | = | 0.0% |
| Financial fixed assets | 28 | €13,151,080 | €13,900,660 | +€749,580 | +5.7% |
| Current assets | 29/58 | €12,189,932 | €10,996,519 | -€1.2m | -9.8% |
| Current investments | 50/53 | €10,175,019 | €9,887,925 | -€287,094 | -2.8% |
| Cash at bank and in hand | 54/58 | €1,657,835 | €1,035,407 | -€622,428 | -37.5% |
| Deferred charges and accrued income | 490/1 | €357,079 | €73,187 | -€283,892 | -79.5% |
| Total equity and liabilities | 10/49 | €34,582,902 | €33,774,510 | -€808,391 | -2.3% |
| Equity | 10/15 | €23,524,713 | €23,385,806 | -€138,907 | -0.6% |
| Contributions | 10/11 | €32,525,123 | €32,525,123 | = | 0.0% |
| Capital | 10 | €32,525,123 | €32,525,123 | = | 0.0% |
| Issued capital | 100 | €32,525,123 | €32,525,123 | = | 0.0% |
| Reserves | 13 | €471,327 | €451,576 | -€19,751 | -4.2% |
| Non-distributable reserves | 130/1 | €1,461 | €1,461 | = | 0.0% |
| Legal reserve | 130 | €1,461 | €1,461 | = | 0.0% |
| Tax-exempt reserves | 132 | €460,849 | €441,098 | -€19,751 | -4.3% |
| Distributable reserves | 133 | €9,017 | €9,017 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,471,737 | -€9,590,894 | -€119,156 | -1.3% |
| Provisions and deferred taxes | 16 | €4,458,773 | €4,173,425 | -€285,348 | -6.4% |
| Provisions for liabilities and charges | 160/5 | €4,305,156 | €4,026,392 | -€278,764 | -6.5% |
| Pensions and similar obligations | 160 | €4,305,156 | €4,026,392 | -€278,764 | -6.5% |
| Deferred taxes | 168 | €153,616 | €147,033 | -€6,584 | -4.3% |
| Amounts payable | 17/49 | €6,599,416 | €6,215,279 | -€384,137 | -5.8% |
| Amounts payable within one year | 42/48 | €8,241 | €4,853 | -€3,388 | -41.1% |
| Trade debts | 44 | €6,055 | €1,833 | -€4,221 | -69.7% |
| Suppliers | 440/4 | €6,055 | €1,833 | -€4,221 | -69.7% |
| Taxes, remuneration and social security | 45 | €2,187 | €3,020 | +€833 | +38.1% |
| Remuneration and social security | 454/9 | €2,187 | €3,020 | +€833 | +38.1% |
| Accrued charges and deferred income | 492/3 | €6,591,175 | €6,210,426 | -€380,749 | -5.8% |
| Remuneration, social security and pensions | 62 | €86,350 | €97,009 | +€10,659 | +12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €388,591 | €389,316 | +€726 | +0.2% |
| Other operating charges | 640/8 | €30,732 | €26,157 | -€4,575 | -14.9% |
| Non-recurring operating charges | 66A | €506,331 | €343,713 | -€162,618 | -32.1% |
| Gross operating margin | 9900 | €137,357 | €69,757 | -€67,600 | -49.2% |
| Operating profit (loss) | 9901 | -€874,647 | -€786,438 | +€88,209 | +10.1% |
| Financial income | 75/76B | €433,923 | €807,996 | +€374,072 | +86.2% |
| Recurring financial income | 75 | €433,923 | €807,996 | +€374,072 | +86.2% |
| Financial charges | 65/66B | €31,500 | €167,048 | +€135,548 | +430.3% |
| Recurring financial charges | 65 | €25,722 | €161,060 | +€135,339 | +526.2% |
| Non-recurring financial charges | 66B | €5,778 | €5,988 | +€209 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | -€472,224 | -€145,490 | +€326,733 | +69.2% |
| Transfer from deferred taxes | 780 | €6,584 | €6,584 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€465,640 | -€138,907 | +€326,733 | +70.2% |
| Transfer from tax-exempt reserves | 789 | €19,751 | €19,751 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€445,889 | -€119,156 | +€326,733 | +73.3% |
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 10 October 2026 via checked.be.