LEBLON Francis: 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.
LEBLON Francis
Largest movements
- Tangible fixed assets +€190,005
up €190,005 (+784%), from €24,232 to €214,237
of which Plant, machinery and equipment: +€195,283
- Cash -€35,993
down €35,993 (-34.1%), from €105,653 to €69,660
mainly Investment in fixed assets (net) (-€223,790) and Receivables within one year (-€34,066)
- Receivables within one year +€34,066
up €34,066 (+94.6%), from €36,028 to €70,095
of which Trade receivables: +€31,511
- Deferred charges and accrued income +€22,462
up €22,462 (+766%), from €2,931 to €25,393
- Debts after one year +€142,201
new in 2025: €142,201
- Current portion of long-term debt +€27,523
new in 2025: €27,523
- Other debts +€20,759
up €20,759 (+1,272%), from €1,632 to €22,391
- Trade debts +€13,245
up €13,245 (+430%), from €3,077 to €16,322
- Reserves +€12,424
up €12,424 (+11.8%), from €105,463 to €117,887
- Depreciation +€27,182
up €27,182 (+400%), from €6,803 to €33,985
- Gross operating margin -€24,917
down €24,917 (-31.7%), from €78,691 to €53,774
- Taxes -€23,055
down €23,055 (-93.7%), from €24,603 to €1,548
- Financial charges +€5,396
up €5,396 (+2,552%), from €211 to €5,607
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 | €169,995 | €381,785 | +€211,790 | +125% |
| Fixed assets | 21/28 | €25,032 | €214,837 | +€189,805 | +758% |
| Intangible fixed assets | 21 | €800 | €600 | -€200 | -25.0% |
| Tangible fixed assets | 22/27 | €24,232 | €214,237 | +€190,005 | +784% |
| Plant, machinery and equipment | 23 | €1,798 | €197,081 | +€195,283 | +10,862% |
| Furniture and vehicles | 24 | €20,780 | €15,730 | -€5,050 | -24.3% |
| Other tangible fixed assets | 26 | €1,654 | €1,426 | -€228 | -13.8% |
| Current assets | 29/58 | €144,963 | €166,948 | +€21,985 | +15.2% |
| Stocks and contracts in progress | 3 | €350 | €1,800 | +€1,450 | +414% |
| Stocks | 30/36 | €350 | €1,800 | +€1,450 | +414% |
| Amounts receivable within one year | 40/41 | €36,028 | €70,095 | +€34,066 | +94.6% |
| Trade receivables | 40 | €35,932 | €67,442 | +€31,511 | +87.7% |
| Other amounts receivable | 41 | €97 | €2,652 | +€2,556 | +2,646% |
| Cash at bank and in hand | 54/58 | €105,653 | €69,660 | -€35,993 | -34.1% |
| Deferred charges and accrued income | 490/1 | €2,931 | €25,393 | +€22,462 | +766% |
| Total equity and liabilities | 10/49 | €169,995 | €381,785 | +€211,790 | +125% |
| Equity | 10/15 | €136,413 | €148,837 | +€12,424 | +9.1% |
| Contributions | 10/11 | €30,950 | €30,950 | = | 0.0% |
| Reserves | 13 | €105,463 | €117,887 | +€12,424 | +11.8% |
| Distributable reserves | 133 | €105,463 | €117,887 | +€12,424 | +11.8% |
| Amounts payable | 17/49 | €33,582 | €232,948 | +€199,366 | +594% |
| Amounts payable after more than one year | 17 | - | €142,201 | +€142,201 | |
| Financial debts | 170/4 | - | €142,201 | +€142,201 | |
| Amounts payable within one year | 42/48 | €33,582 | €90,747 | +€57,165 | +170% |
| Current portion of amounts payable after more than one year | 42 | - | €27,523 | +€27,523 | |
| Trade debts | 44 | €3,077 | €16,322 | +€13,245 | +430% |
| Suppliers | 440/4 | €3,077 | €16,322 | +€13,245 | +430% |
| Taxes, remuneration and social security | 45 | €28,873 | €24,511 | -€4,362 | -15.1% |
| Taxes | 450/3 | €28,873 | €24,511 | -€4,362 | -15.1% |
| Other amounts payable | 47/48 | €1,632 | €22,391 | +€20,759 | +1,272% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,803 | €33,985 | +€27,182 | +400% |
| Other operating charges | 640/8 | €901 | €780 | -€121 | -13.4% |
| Gross operating margin | 9900 | €78,691 | €53,774 | -€24,917 | -31.7% |
| Operating profit (loss) | 9901 | €70,988 | €19,009 | -€51,978 | -73.2% |
| Financial income | 75/76B | €306 | €570 | +€264 | +86.4% |
| Recurring financial income | 75 | €306 | €570 | +€264 | +86.4% |
| Financial charges | 65/66B | €211 | €5,607 | +€5,396 | +2,552% |
| Recurring financial charges | 65 | €211 | €5,607 | +€5,396 | +2,552% |
| Profit (loss) for the period before taxes | 9903 | €71,082 | €13,972 | -€57,110 | -80.3% |
| Income taxes | 67/77 | €24,603 | €1,548 | -€23,055 | -93.7% |
| Profit (loss) for the period | 9904 | €46,479 | €12,424 | -€34,055 | -73.3% |
| Profit (loss) for the period to be appropriated | 9905 | €46,479 | €12,424 | -€34,055 | -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 22 October 2026 via checked.be.