Lederatelier: 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.
Lederatelier
Largest movements
- Cash -€424,476
down €424,476 (-65.7%), from €645,863 to €221,386
mainly Current investments (-€350,000) and Contributions, distributions and other (-€178,000)
- Current investments +€350,000
new in 2025: €350,000
- Tangible fixed assets -€23,788
down €23,788 (-23.0%), from €103,559 to €79,771
of which Furniture and vehicles: -€22,433
- Reserves -€115,291
down €115,291 (-18.6%), from €621,456 to €506,165
- Advances received +€22,402
up €22,402 (+201.8%), from €11,102 to €33,504
- Debts after one year -€19,977
down €19,977 (-18.0%), from €110,944 to €90,968
- Other debts -€16,226
down €16,226 (-19.8%), from €81,829 to €65,603
- Tax, wage and social debts +€14,365
up €14,365 (+68.1%), from €21,080 to €35,445
- Gross operating margin -€105,454
down €105,454 (-47.9%), from €220,242 to €114,788
- Taxes -€22,810
down €22,810 (-43.3%), from €52,692 to €29,882
- Financial income +€12,824
up €12,824 (+602.9%), from €2,127 to €14,951
- Depreciation +€9,593
up €9,593 (+67.6%), from €14,195 to €23,788
- Financial charges -€5,150
down €5,150 (-30.9%), from €16,667 to €11,516
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 | €866,100 | €769,425 | -€96,675 | -11.2% |
| Fixed assets | 21/28 | €103,559 | €79,771 | -€23,788 | -23.0% |
| Tangible fixed assets | 22/27 | €103,559 | €79,771 | -€23,788 | -23.0% |
| Land and buildings | 22 | €473 | €59 | -€414 | -87.6% |
| Plant, machinery and equipment | 23 | €4,464 | €3,523 | -€941 | -21.1% |
| Furniture and vehicles | 24 | €98,622 | €76,189 | -€22,433 | -22.7% |
| Current assets | 29/58 | €762,541 | €689,653 | -€72,888 | -9.6% |
| Stocks and contracts in progress | 3 | €105,799 | €103,529 | -€2,269 | -2.1% |
| Stocks | 30/36 | €105,799 | €103,529 | -€2,269 | -2.1% |
| Amounts receivable within one year | 40/41 | €10,675 | €14,532 | +€3,857 | +36.1% |
| Trade receivables | 40 | €10,155 | €9,968 | -€187 | -1.8% |
| Other amounts receivable | 41 | €519 | €4,564 | +€4,045 | +778.7% |
| Current investments | 50/53 | - | €350,000 | +€350,000 | |
| Cash at bank and in hand | 54/58 | €645,863 | €221,386 | -€424,476 | -65.7% |
| Deferred charges and accrued income | 490/1 | €205 | €205 | +€1 | +0.3% |
| Total equity and liabilities | 10/49 | €866,100 | €769,425 | -€96,675 | -11.2% |
| Equity | 10/15 | €627,656 | €512,365 | -€115,291 | -18.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €621,456 | €506,165 | -€115,291 | -18.6% |
| Distributable reserves | 133 | €621,456 | €506,165 | -€115,291 | -18.6% |
| Amounts payable | 17/49 | €238,444 | €257,060 | +€18,615 | +7.8% |
| Amounts payable after more than one year | 17 | €110,944 | €90,968 | -€19,977 | -18.0% |
| Financial debts | 170/4 | €110,944 | €90,968 | -€19,977 | -18.0% |
| Amounts payable within one year | 42/48 | €126,250 | €164,842 | +€38,592 | +30.6% |
| Current portion of amounts payable after more than one year | 42 | €9,456 | €19,977 | +€10,521 | +111.3% |
| Trade debts | 44 | €2,783 | €10,313 | +€7,529 | +270.5% |
| Suppliers | 440/4 | €2,783 | €10,313 | +€7,529 | +270.5% |
| Advances received on contracts in progress | 46 | €11,102 | €33,504 | +€22,402 | +201.8% |
| Taxes, remuneration and social security | 45 | €21,080 | €35,445 | +€14,365 | +68.1% |
| Taxes | 450/3 | €21,080 | €35,445 | +€14,365 | +68.1% |
| Other amounts payable | 47/48 | €81,829 | €65,603 | -€16,226 | -19.8% |
| Accrued charges and deferred income | 492/3 | €1,250 | €1,250 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,195 | €23,788 | +€9,593 | +67.6% |
| Other operating charges | 640/8 | €1,811 | €1,844 | +€32 | +1.8% |
| Gross operating margin | 9900 | €220,242 | €114,788 | -€105,454 | -47.9% |
| Operating profit (loss) | 9901 | €204,236 | €89,157 | -€115,079 | -56.3% |
| Financial income | 75/76B | €2,127 | €14,951 | +€12,824 | +602.9% |
| Recurring financial income | 75 | €2,127 | €14,951 | +€12,824 | +602.9% |
| Financial charges | 65/66B | €16,667 | €11,516 | -€5,150 | -30.9% |
| Recurring financial charges | 65 | €16,667 | €11,516 | -€5,150 | -30.9% |
| Profit (loss) for the period before taxes | 9903 | €189,697 | €92,591 | -€97,106 | -51.2% |
| Income taxes | 67/77 | €52,692 | €29,882 | -€22,810 | -43.3% |
| Profit (loss) for the period | 9904 | €137,004 | €62,709 | -€74,295 | -54.2% |
| Profit (loss) for the period to be appropriated | 9905 | €137,004 | €62,709 | -€74,295 | -54.2% |
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 12 October 2026 via checked.be.