LEDENBEHEER: 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.
LEDENBEHEER
Largest movements
- Receivables within one year +€33,864
up €33,864 (+411%), from €8,244 to €42,108
of which Trade receivables: +€28,384
- Cash -€30,555
down €30,555 (-28.8%), from €106,193 to €75,638
mainly Receivables within one year (-€33,864) and Other debts (-€16,224)
- Deferred charges and accrued income +€1,635
up €1,635 (+141%), from €1,158 to €2,793
- Trade debts +€21,393
up €21,393 (+174%), from €12,304 to €33,697
- Other debts -€16,224
down €16,224 (-55.8%), from €29,100 to €12,876
- Profit (loss) carried forward +€11,235
up €11,235 (+19.2%), from €58,576 to €69,811
- Current portion of long-term debt -€5,742
no longer reported in 2025 (was €5,742)
- Tax, wage and social debts -€5,032
down €5,032 (-15.3%), from €32,793 to €27,761
of which Taxes: -€16,975
- Gross operating margin -€28,585
down €28,585 (-15.1%), from €189,786 to €161,201
- Taxes -€6,668
down €6,668 (-59.8%), from €11,155 to €4,487
- Staff costs +€4,122
up €4,122 (+3.1%), from €132,620 to €136,742
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 | €148,515 | €154,144 | +€5,629 | +3.8% |
| Fixed assets | 21/28 | €32,920 | €33,604 | +€684 | +2.1% |
| Tangible fixed assets | 22/27 | €32,920 | €33,604 | +€684 | +2.1% |
| Land and buildings | 22 | €5,434 | €4,806 | -€628 | -11.5% |
| Plant, machinery and equipment | 23 | €766 | €557 | -€209 | -27.3% |
| Furniture and vehicles | 24 | €8,159 | €28,241 | +€20,082 | +246% |
| Leasing and similar rights | 25 | €18,561 | - | -€18,561 | |
| Current assets | 29/58 | €115,595 | €120,540 | +€4,945 | +4.3% |
| Amounts receivable within one year | 40/41 | €8,244 | €42,108 | +€33,864 | +411% |
| Trade receivables | 40 | €8,209 | €36,593 | +€28,384 | +346% |
| Other amounts receivable | 41 | €35 | €5,514 | +€5,479 | +15,655% |
| Cash at bank and in hand | 54/58 | €106,193 | €75,638 | -€30,555 | -28.8% |
| Deferred charges and accrued income | 490/1 | €1,158 | €2,793 | +€1,635 | +141% |
| Total equity and liabilities | 10/49 | €148,515 | €154,144 | +€5,629 | +3.8% |
| Equity | 10/15 | €68,576 | €79,811 | +€11,235 | +16.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,576 | €69,811 | +€11,235 | +19.2% |
| Amounts payable | 17/49 | €79,939 | €74,333 | -€5,606 | -7.0% |
| Amounts payable within one year | 42/48 | €79,939 | €74,333 | -€5,606 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €5,742 | - | -€5,742 | |
| Trade debts | 44 | €12,304 | €33,697 | +€21,393 | +174% |
| Suppliers | 440/4 | €12,304 | €33,697 | +€21,393 | +174% |
| Taxes, remuneration and social security | 45 | €32,793 | €27,761 | -€5,032 | -15.3% |
| Taxes | 450/3 | €32,793 | €15,818 | -€16,975 | -51.8% |
| Remuneration and social security | 454/9 | - | €11,942 | +€11,942 | |
| Other amounts payable | 47/48 | €29,100 | €12,876 | -€16,224 | -55.8% |
| Remuneration, social security and pensions | 62 | €132,620 | €136,742 | +€4,122 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,922 | €8,064 | -€858 | -9.6% |
| Other operating charges | 640/8 | - | €579 | +€579 | |
| Gross operating margin | 9900 | €189,786 | €161,201 | -€28,585 | -15.1% |
| Operating profit (loss) | 9901 | €48,244 | €15,816 | -€32,428 | -67.2% |
| Financial income | 75/76B | €10 | €1 | -€9 | -93.8% |
| Recurring financial income | 75 | €10 | €1 | -€9 | -93.8% |
| Financial charges | 65/66B | €319 | €116 | -€203 | -63.8% |
| Recurring financial charges | 65 | €319 | €116 | -€203 | -63.8% |
| Profit (loss) for the period before taxes | 9903 | €47,935 | €15,701 | -€32,234 | -67.2% |
| Income taxes | 67/77 | €11,155 | €4,487 | -€6,668 | -59.8% |
| Profit (loss) for the period | 9904 | €36,780 | €11,214 | -€25,566 | -69.5% |
| Profit (loss) for the period to be appropriated | 9905 | €36,780 | €11,214 | -€25,566 | -69.5% |
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 15 October 2026 via checked.be.