LEAU: 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.
LEAU
Largest movements
- Receivables within one year +€201,515
up €201,515 (+28.6%), from €704,159 to €905,674
of which Other amounts receivable: +€214,652
- Cash +€152,436
up €152,436 (+146.2%), from €104,300 to €256,736
mainly Net result for the year (+€390,364) and Other debts (+€157,407)
- Tangible fixed assets -€109,841
down €109,841 (-1.8%), from €6.2m to €6.0m
of which Land and buildings: -€109,005
- Reserves +€390,364
up €390,364 (+28.3%), from €1.4m to €1.8m
- Debts after one year -€314,601
down €314,601 (-17.4%), from €1.8m to €1.5m
- Other debts +€157,407
up €157,407 (+9.0%), from €1.8m to €1.9m
- Depreciation -€71,775
down €71,775 (-38.9%), from €184,534 to €112,760
- Gross operating margin -€41,191
down €41,191 (-4.8%), from €866,608 to €825,418
- Financial charges -€16,568
down €16,568 (-10.1%), from €164,175 to €147,606
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 | €6,980,083 | €7,210,824 | +€230,742 | +3.3% |
| Fixed assets | 21/28 | €6,156,171 | €6,046,329 | -€109,841 | -1.8% |
| Tangible fixed assets | 22/27 | €6,156,171 | €6,046,329 | -€109,841 | -1.8% |
| Land and buildings | 22 | €5,849,089 | €5,740,084 | -€109,005 | -1.9% |
| Plant, machinery and equipment | 23 | €3,482 | €2,646 | -€836 | -24.0% |
| Furniture and vehicles | 24 | €303,599 | €303,599 | = | 0.0% |
| Current assets | 29/58 | €823,912 | €1,164,495 | +€340,583 | +41.3% |
| Amounts receivable within one year | 40/41 | €704,159 | €905,674 | +€201,515 | +28.6% |
| Trade receivables | 40 | €69,714 | €56,577 | -€13,137 | -18.8% |
| Other amounts receivable | 41 | €634,445 | €849,097 | +€214,652 | +33.8% |
| Cash at bank and in hand | 54/58 | €104,300 | €256,736 | +€152,436 | +146.2% |
| Deferred charges and accrued income | 490/1 | €15,453 | €2,086 | -€13,368 | -86.5% |
| Total equity and liabilities | 10/49 | €6,980,083 | €7,210,824 | +€230,742 | +3.3% |
| Equity | 10/15 | €960,644 | €1,351,007 | +€390,364 | +40.6% |
| Contributions | 10/11 | €409,778 | €409,778 | = | 0.0% |
| Reserves | 13 | €1,380,353 | €1,770,717 | +€390,364 | +28.3% |
| Distributable reserves | 133 | €1,380,353 | €1,770,717 | +€390,364 | +28.3% |
| Profit (loss) carried forward | 14 | -€829,488 | -€829,488 | = | 0.0% |
| Provisions and deferred taxes | 16 | €1,758,485 | €1,766,861 | +€8,376 | +0.5% |
| Provisions for liabilities and charges | 160/5 | €1,758,485 | €1,766,861 | +€8,376 | +0.5% |
| Other liabilities and charges | 164/5 | €1,758,485 | €1,766,861 | +€8,376 | +0.5% |
| Amounts payable | 17/49 | €4,260,954 | €4,092,956 | -€167,998 | -3.9% |
| Amounts payable after more than one year | 17 | €1,810,285 | €1,495,685 | -€314,601 | -17.4% |
| Financial debts | 170/4 | €1,810,285 | €1,495,685 | -€314,601 | -17.4% |
| Amounts payable within one year | 42/48 | €2,450,622 | €2,597,225 | +€146,602 | +6.0% |
| Current portion of amounts payable after more than one year | 42 | €312,547 | €314,601 | +€2,053 | +0.7% |
| Trade debts | 44 | €3,907 | €7,479 | +€3,572 | +91.4% |
| Suppliers | 440/4 | €3,907 | €7,479 | +€3,572 | +91.4% |
| Advances received on contracts in progress | 46 | €60,500 | €60,500 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €320,168 | €303,738 | -€16,430 | -5.1% |
| Taxes | 450/3 | €320,168 | €303,738 | -€16,430 | -5.1% |
| Other amounts payable | 47/48 | €1,753,499 | €1,910,907 | +€157,407 | +9.0% |
| Accrued charges and deferred income | 492/3 | €46 | €46 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €184,534 | €112,760 | -€71,775 | -38.9% |
| Other operating charges | 640/8 | €10,341 | €10,216 | -€125 | -1.2% |
| Non-recurring operating charges | 66A | €755 | €855 | +€100 | +13.2% |
| Gross operating margin | 9900 | €866,608 | €825,418 | -€41,191 | -4.8% |
| Operating profit (loss) | 9901 | €670,978 | €701,587 | +€30,609 | +4.6% |
| Financial income | 75/76B | €16,460 | €21,924 | +€5,464 | +33.2% |
| Recurring financial income | 75 | €16,460 | €21,924 | +€5,464 | +33.2% |
| Financial charges | 65/66B | €164,175 | €147,606 | -€16,568 | -10.1% |
| Recurring financial charges | 65 | €164,175 | €147,606 | -€16,568 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | €523,263 | €575,905 | +€52,642 | +10.1% |
| Income taxes | 67/77 | €177,393 | €185,541 | +€8,148 | +4.6% |
| Profit (loss) for the period | 9904 | €345,870 | €390,364 | +€44,494 | +12.9% |
| Profit (loss) for the period to be appropriated | 9905 | €345,870 | €390,364 | +€44,494 | +12.9% |
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.