LEDS SAVE ENERGY: 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.
LEDS SAVE ENERGY
Largest movements
- Tangible fixed assets -€18,111
down €18,111 (-1.5%), from €1.2m to €1.2m
of which Land and buildings: -€13,858
- Receivables within one year -€15,369
down €15,369 (-55.5%), from €27,702 to €12,334
of which Other amounts receivable: -€27,115
- Profit (loss) carried forward -€68,730
down €68,730 (-64.7%), from -€106,305 to -€175,035
- Other debts +€42,195
up €42,195 (+3.4%), from €1.2m to €1.3m
- Trade debts -€14,452
down €14,452 (-50.4%), from €28,651 to €14,199
- Purchases and services -€35,780
no longer reported in 2025 (was €35,780)
- Depreciation +€29,249
up €29,249 (+134%), from €21,884 to €51,133
- Gross operating margin +€28,771
up €28,771 (+85.8%), from -€33,550 to -€4,779
- Write-downs +€7,824
new in 2025: €7,824
- Turnover -€2,230
no longer reported in 2025 (was €2,230)
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 | €1,225,167 | €1,182,434 | -€42,733 | -3.5% |
| Fixed assets | 21/28 | €1,186,566 | €1,164,594 | -€21,972 | -1.9% |
| Intangible fixed assets | 21 | €3,861 | - | -€3,861 | |
| Tangible fixed assets | 22/27 | €1,182,705 | €1,164,594 | -€18,111 | -1.5% |
| Land and buildings | 22 | €1,157,871 | €1,144,013 | -€13,858 | -1.2% |
| Plant, machinery and equipment | 23 | €10,472 | €8,549 | -€1,923 | -18.4% |
| Furniture and vehicles | 24 | €14,362 | €12,033 | -€2,329 | -16.2% |
| Current assets | 29/58 | €38,601 | €17,840 | -€20,761 | -53.8% |
| Stocks and contracts in progress | 3 | €7,824 | - | -€7,824 | |
| Stocks | 30/36 | €7,824 | - | -€7,824 | |
| Amounts receivable within one year | 40/41 | €27,702 | €12,334 | -€15,369 | -55.5% |
| Trade receivables | 40 | €360 | €12,106 | +€11,746 | +3,263% |
| Other amounts receivable | 41 | €27,342 | €227 | -€27,115 | -99.2% |
| Cash at bank and in hand | 54/58 | €3,075 | €5,507 | +€2,432 | +79.1% |
| Total equity and liabilities | 10/49 | €1,225,167 | €1,182,434 | -€42,733 | -3.5% |
| Equity | 10/15 | -€39,194 | -€109,321 | -€70,127 | -179% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €60,911 | €59,514 | -€1,397 | -2.3% |
| Tax-exempt reserves | 132 | €30,734 | €29,337 | -€1,397 | -4.5% |
| Distributable reserves | 133 | €30,177 | €30,177 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€106,305 | -€175,035 | -€68,730 | -64.7% |
| Provisions and deferred taxes | 16 | €7,683 | €7,334 | -€349 | -4.5% |
| Deferred taxes | 168 | €7,683 | €7,334 | -€349 | -4.5% |
| Amounts payable | 17/49 | €1,256,678 | €1,284,421 | +€27,743 | +2.2% |
| Amounts payable within one year | 42/48 | €1,256,678 | €1,284,421 | +€27,743 | +2.2% |
| Trade debts | 44 | €28,651 | €14,199 | -€14,452 | -50.4% |
| Suppliers | 440/4 | €28,651 | €14,199 | -€14,452 | -50.4% |
| Other amounts payable | 47/48 | €1,228,027 | €1,270,222 | +€42,195 | +3.4% |
| Turnover | 70 | €2,230 | - | -€2,230 | |
| Goods, raw materials, services and sundry goods | 60/61 | €35,780 | - | -€35,780 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,884 | €51,133 | +€29,249 | +134% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €7,824 | +€7,824 | |
| Other operating charges | 640/8 | €8,256 | €6,556 | -€1,700 | -20.6% |
| Gross operating margin | 9900 | -€33,550 | -€4,779 | +€28,771 | +85.8% |
| Operating profit (loss) | 9901 | -€63,690 | -€70,292 | -€6,602 | -10.4% |
| Financial income | 75/76B | - | €41 | +€41 | |
| Recurring financial income | 75 | - | €41 | +€41 | |
| Financial charges | 65/66B | €110 | €225 | +€115 | +105% |
| Recurring financial charges | 65 | €110 | €225 | +€115 | +105% |
| Profit (loss) for the period before taxes | 9903 | -€63,800 | -€70,476 | -€6,676 | -10.5% |
| Transfer from deferred taxes | 780 | €349 | €349 | +€0 | +0.1% |
| Profit (loss) for the period | 9904 | -€63,451 | -€70,127 | -€6,676 | -10.5% |
| Transfer from tax-exempt reserves | 789 | €1,397 | €1,397 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€62,054 | -€68,730 | -€6,676 | -10.8% |
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 29 October 2026 via checked.be.