Leblanc Advisory: 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.
Leblanc Advisory
Largest movements
- Cash +€66,744
up €66,744 (+50.2%), from €132,839 to €199,583
mainly Net result for the year (+€67,662) and Receivables within one year (+€20,917)
- Receivables within one year -€20,917
down €20,917 (-58.2%), from €35,933 to €15,016
- Tangible fixed assets +€2,229
up €2,229 (+334%), from €668 to €2,897
- Reserves +€67,662
up €67,662 (+59.1%), from €114,398 to €182,060
- Trade debts -€15,179
down €15,179 (-86.9%), from €17,461 to €2,282
- Other debts -€4,986
down €4,986 (-40.4%), from €12,355 to €7,370
- Gross operating margin -€1,820
down €1,820 (-2.0%), from €89,708 to €87,888
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €169,440 | €217,496 | +€48,056 | +28.4% |
| Fixed assets | 21/28 | €668 | €2,897 | +€2,229 | +334% |
| Tangible fixed assets | 22/27 | €668 | €2,897 | +€2,229 | +334% |
| Furniture and vehicles | 24 | €668 | €2,897 | +€2,229 | +334% |
| Current assets | 29/58 | €168,772 | €214,599 | +€45,827 | +27.2% |
| Amounts receivable within one year | 40/41 | €35,933 | €15,016 | -€20,917 | -58.2% |
| Trade receivables | 40 | €35,933 | €15,016 | -€20,917 | -58.2% |
| Cash at bank and in hand | 54/58 | €132,839 | €199,583 | +€66,744 | +50.2% |
| Total equity and liabilities | 10/49 | €169,440 | €217,496 | +€48,056 | +28.4% |
| Equity | 10/15 | €114,898 | €182,560 | +€67,662 | +58.9% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €114,398 | €182,060 | +€67,662 | +59.1% |
| Distributable reserves | 133 | €114,398 | €182,060 | +€67,662 | +59.1% |
| Amounts payable | 17/49 | €54,542 | €34,936 | -€19,606 | -35.9% |
| Amounts payable within one year | 42/48 | €53,781 | €34,391 | -€19,390 | -36.1% |
| Trade debts | 44 | €17,461 | €2,282 | -€15,179 | -86.9% |
| Suppliers | 440/4 | €17,461 | €2,282 | -€15,179 | -86.9% |
| Taxes, remuneration and social security | 45 | €23,964 | €24,739 | +€775 | +3.2% |
| Taxes | 450/3 | €23,964 | €24,739 | +€775 | +3.2% |
| Other amounts payable | 47/48 | €12,355 | €7,370 | -€4,986 | -40.4% |
| Accrued charges and deferred income | 492/3 | €761 | €545 | -€216 | -28.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €392 | €823 | +€431 | +110% |
| Other operating charges | 640/8 | - | €144 | +€144 | |
| Gross operating margin | 9900 | €89,708 | €87,888 | -€1,820 | -2.0% |
| Operating profit (loss) | 9901 | €89,316 | €86,921 | -€2,395 | -2.7% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €2,443 | €1,754 | -€689 | -28.2% |
| Recurring financial charges | 65 | €2,443 | €1,754 | -€689 | -28.2% |
| Profit (loss) for the period before taxes | 9903 | €86,873 | €85,167 | -€1,706 | -2.0% |
| Income taxes | 67/77 | €18,060 | €17,505 | -€555 | -3.1% |
| Profit (loss) for the period | 9904 | €68,813 | €67,662 | -€1,151 | -1.7% |
| Profit (loss) for the period to be appropriated | 9905 | €68,813 | €67,662 | -€1,151 | -1.7% |
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 27 October 2026 via checked.be.