LEE: 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.
LEE
Largest movements
- Cash -€14,109
down €14,109 (-48.2%), from €29,293 to €15,184
mainly Contributions, distributions and other (-€7,100) and Deferred charges and accrued income (-€6,398)
- Deferred charges and accrued income +€6,398
new in 2025: €6,398
- Receivables within one year -€1,741
down €1,741 (-42.1%), from €4,131 to €2,390
of which Other amounts receivable: -€2,266
- Reserves -€7,466
down €7,466 (-22.9%), from €32,632 to €25,166
- Tax, wage and social debts -€2,995
down €2,995 (-72.2%), from €4,150 to €1,155
- Trade debts +€2,972
up €2,972 (+168%), from €1,768 to €4,741
- Debts after one year -€2,612
down €2,612 (-62.5%), from €4,180 to €1,568
- Other debts +€622
up €622, from €0 to €622
- Gross operating margin -€10,471
down €10,471 (-55.4%), from €18,887 to €8,416
- Taxes -€2,028
down €2,028 (-63.7%), from €3,187 to €1,158
- Depreciation +€1,115
up €1,115 (+25.3%), from €4,413 to €5,528
- Other operating charges -€290
down €290 (-23.1%), from €1,251 to €962
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 | €48,248 | €38,863 | -€9,384 | -19.5% |
| Fixed assets | 21/28 | €14,824 | €14,891 | +€67 | +0.5% |
| Tangible fixed assets | 22/27 | €12,294 | €12,361 | +€67 | +0.5% |
| Plant, machinery and equipment | 23 | €9,542 | €7,323 | -€2,219 | -23.3% |
| Furniture and vehicles | 24 | €2,752 | €2,887 | +€135 | +4.9% |
| Other tangible fixed assets | 26 | - | €2,151 | +€2,151 | |
| Financial fixed assets | 28 | €2,530 | €2,530 | = | 0.0% |
| Current assets | 29/58 | €33,424 | €23,972 | -€9,452 | -28.3% |
| Amounts receivable within one year | 40/41 | €4,131 | €2,390 | -€1,741 | -42.1% |
| Trade receivables | 40 | €23 | €548 | +€525 | +2,278% |
| Other amounts receivable | 41 | €4,108 | €1,842 | -€2,266 | -55.2% |
| Cash at bank and in hand | 54/58 | €29,293 | €15,184 | -€14,109 | -48.2% |
| Deferred charges and accrued income | 490/1 | - | €6,398 | +€6,398 | |
| Total equity and liabilities | 10/49 | €48,248 | €38,863 | -€9,384 | -19.5% |
| Equity | 10/15 | €35,632 | €28,166 | -€7,466 | -21.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €32,632 | €25,166 | -€7,466 | -22.9% |
| Distributable reserves | 133 | €32,632 | €25,166 | -€7,466 | -22.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €12,616 | €10,698 | -€1,919 | -15.2% |
| Amounts payable after more than one year | 17 | €4,180 | €1,568 | -€2,612 | -62.5% |
| Financial debts | 170/4 | €4,180 | €1,568 | -€2,612 | -62.5% |
| Amounts payable within one year | 42/48 | €8,437 | €9,130 | +€693 | +8.2% |
| Current portion of amounts payable after more than one year | 42 | €2,518 | €2,612 | +€93 | +3.7% |
| Trade debts | 44 | €1,768 | €4,741 | +€2,972 | +168% |
| Suppliers | 440/4 | €1,768 | €4,741 | +€2,972 | +168% |
| Taxes, remuneration and social security | 45 | €4,150 | €1,155 | -€2,995 | -72.2% |
| Taxes | 450/3 | €4,150 | €1,155 | -€2,995 | -72.2% |
| Other amounts payable | 47/48 | €0 | €622 | +€622 | |
| Non-recurring operating income | 76A | - | €236 | +€236 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,413 | €5,528 | +€1,115 | +25.3% |
| Other operating charges | 640/8 | €1,251 | €962 | -€290 | -23.1% |
| Gross operating margin | 9900 | €18,887 | €8,416 | -€10,471 | -55.4% |
| Operating profit (loss) | 9901 | €13,222 | €1,926 | -€11,296 | -85.4% |
| Financial income | 75/76B | €3 | €0 | -€3 | -99.3% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -99.3% |
| Financial charges | 65/66B | €1,148 | €1,134 | -€14 | -1.2% |
| Recurring financial charges | 65 | €1,148 | €1,134 | -€14 | -1.2% |
| Profit (loss) for the period before taxes | 9903 | €12,077 | €792 | -€11,285 | -93.4% |
| Income taxes | 67/77 | €3,187 | €1,158 | -€2,028 | -63.7% |
| Profit (loss) for the period | 9904 | €8,891 | -€366 | -€9,257 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,891 | -€366 | -€9,257 |
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 14 October 2026 via checked.be.