LEBLANC MANAGEMENT: 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 MANAGEMENT
Largest movements
- Intangible fixed assets -€43,515
down €43,515 (-20.0%), from €217,576 to €174,061
- Tangible fixed assets -€8,415
down €8,415 (-5.5%), from €154,129 to €145,714
of which Land and buildings: -€9,255
- Profit (loss) carried forward -€69,663
down €69,663 (-732%), from -€9,513 to -€79,176
- Other debts +€68,216
up €68,216 (+56.2%), from €121,289 to €189,506
- Debts after one year -€56,168
down €56,168 (-13.3%), from €421,512 to €365,344
of which Other amounts payable: -€30,000
- Trade debts +€14,550
up €14,550 (+10,624%), from €137 to €14,687
- Tax, wage and social debts -€8,538
down €8,538 (-100%), from €8,538 to €0
of which Taxes: -€8,538
- Gross operating margin -€34,616
down €34,616, from €27,190 to -€7,425
- Financial charges -€2,206
down €2,206 (-23.3%), from €9,462 to €7,257
- Taxes -€1,900
down €1,900 (-100%), from €1,900 to €0
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 | €612,016 | €557,046 | -€54,970 | -9.0% |
| Fixed assets | 21/28 | €604,942 | €553,012 | -€51,931 | -8.6% |
| Intangible fixed assets | 21 | €217,576 | €174,061 | -€43,515 | -20.0% |
| Tangible fixed assets | 22/27 | €154,129 | €145,714 | -€8,415 | -5.5% |
| Land and buildings | 22 | €154,129 | €144,875 | -€9,255 | -6.0% |
| Furniture and vehicles | 24 | €0 | €839 | +€839 | |
| Financial fixed assets | 28 | €233,237 | €233,237 | = | 0.0% |
| Current assets | 29/58 | €7,074 | €4,035 | -€3,039 | -43.0% |
| Amounts receivable within one year | 40/41 | €2,596 | €2,217 | -€379 | -14.6% |
| Trade receivables | 40 | €491 | €0 | -€491 | -100% |
| Other amounts receivable | 41 | €2,105 | €2,217 | +€112 | +5.3% |
| Cash at bank and in hand | 54/58 | €3,791 | €1,371 | -€2,420 | -63.8% |
| Deferred charges and accrued income | 490/1 | €686 | €446 | -€240 | -35.0% |
| Total equity and liabilities | 10/49 | €612,016 | €557,046 | -€54,970 | -9.0% |
| Equity | 10/15 | €27,447 | -€42,216 | -€69,663 | |
| Contributions | 10/11 | €33,600 | €33,600 | = | 0.0% |
| Reserves | 13 | €3,360 | €3,360 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,360 | €3,360 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,360 | €3,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,513 | -€79,176 | -€69,663 | -732% |
| Amounts payable | 17/49 | €584,569 | €599,262 | +€14,693 | +2.5% |
| Amounts payable after more than one year | 17 | €421,512 | €365,344 | -€56,168 | -13.3% |
| Financial debts | 170/4 | €157,912 | €131,744 | -€26,168 | -16.6% |
| Other amounts payable | 178/9 | €263,600 | €233,600 | -€30,000 | -11.4% |
| Amounts payable within one year | 42/48 | €159,109 | €230,361 | +€71,253 | +44.8% |
| Current portion of amounts payable after more than one year | 42 | €25,800 | €26,168 | +€369 | +1.4% |
| Financial debts | 43 | €3,344 | €0 | -€3,344 | -100% |
| Credit institutions | 430/8 | €3,344 | €0 | -€3,344 | -100% |
| Trade debts | 44 | €137 | €14,687 | +€14,550 | +10,624% |
| Suppliers | 440/4 | €137 | €14,687 | +€14,550 | +10,624% |
| Taxes, remuneration and social security | 45 | €8,538 | €0 | -€8,538 | -100% |
| Taxes | 450/3 | €8,538 | €0 | -€8,538 | -100% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €121,289 | €189,506 | +€68,216 | +56.2% |
| Accrued charges and deferred income | 492/3 | €3,949 | €3,557 | -€391 | -9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,022 | €53,181 | +€159 | +0.3% |
| Other operating charges | 640/8 | €1,653 | €1,800 | +€147 | +8.9% |
| Gross operating margin | 9900 | €27,190 | -€7,425 | -€34,616 | |
| Operating profit (loss) | 9901 | -€27,484 | -€62,406 | -€34,922 | -127% |
| Financial income | 75/76B | €24 | €0 | -€24 | -100% |
| Recurring financial income | 75 | €24 | €0 | -€24 | -100% |
| Financial charges | 65/66B | €9,462 | €7,257 | -€2,206 | -23.3% |
| Recurring financial charges | 65 | €9,462 | €7,257 | -€2,206 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | -€36,922 | -€69,663 | -€32,741 | -88.7% |
| Income taxes | 67/77 | €1,900 | €0 | -€1,900 | -100% |
| Profit (loss) for the period | 9904 | -€38,822 | -€69,663 | -€30,841 | -79.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€38,822 | -€69,663 | -€30,841 | -79.4% |
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 21 October 2026 via checked.be.