LEE CONCEPT: 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 CONCEPT
Largest movements
- Tangible fixed assets +€212,731
up €212,731 (+89.2%), from €238,552 to €451,282
of which Land and buildings: +€444,182
- Current assets +€80,831
up €80,831 (+21.1%), from €382,198 to €463,029
of which Cash: +€155,981
- Debts within one year +€199,334
up €199,334 (+70.7%), from €282,008 to €481,342
of which Trade debts: +€392,865
- Profit (loss) carried forward +€54,206
up €54,206, from -€2,917 to €51,289
- Debts after one year +€40,023
up €40,023 (+31.4%), from €127,623 to €167,646
- Gross operating margin -€131,348
down €131,348 (-50.4%), from €260,859 to €129,511
- Taxes -€93,311
down €93,311, from €88,956 to -€4,355
- Depreciation +€23,160
up €23,160 (+71.6%), from €32,368 to €55,528
- Other operating charges +€2,675
new in 2021: €2,675
From the 2019 result to the 2021 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2019 | 2021 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €620,975 | €914,537 | +€293,562 | +47.3% |
| Fixed assets | 21/28 | €238,777 | €451,507 | +€212,731 | +89.1% |
| Tangible fixed assets | 22/27 | €238,552 | €451,282 | +€212,731 | +89.2% |
| Land and buildings | 22 | - | €444,182 | +€444,182 | |
| Furniture and vehicles | 24 | - | €7,100 | +€7,100 | |
| Financial fixed assets | 28 | €225 | €225 | = | 0.0% |
| Current assets | 29/58 | €382,198 | €463,029 | +€80,831 | +21.1% |
| Amounts receivable after more than one year | 29 | - | €132,734 | +€132,734 | |
| Trade receivables | 290 | - | €132,734 | +€132,734 | |
| Amounts receivable within one year | 40/41 | €65,504 | €114,710 | +€49,206 | +75.1% |
| Trade receivables | 40 | - | €114,710 | +€114,710 | |
| Cash at bank and in hand | 54/58 | €47,340 | €203,321 | +€155,981 | +329% |
| Deferred charges and accrued income | 490/1 | - | €12,265 | +€12,265 | |
| Total equity and liabilities | 10/49 | €620,975 | €914,537 | +€293,562 | +47.3% |
| Equity | 10/15 | €211,343 | €265,549 | +€54,206 | +25.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | - | €12,400 | +€12,400 | |
| Issued capital | 100 | - | €18,600 | +€18,600 | |
| Uncalled capital | 101 | - | €6,200 | +€6,200 | |
| Reserves | 13 | €201,860 | €201,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | - | €1,860 | +€1,860 | |
| Legal reserve | 130 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | - | €200,000 | +€200,000 | |
| Profit (loss) carried forward | 14 | -€2,917 | €51,289 | +€54,206 | |
| Amounts payable | 17/49 | €409,631 | €648,988 | +€239,356 | +58.4% |
| Amounts payable after more than one year | 17 | €127,623 | €167,646 | +€40,023 | +31.4% |
| Other amounts payable | 178/9 | - | €167,646 | +€167,646 | |
| Amounts payable within one year | 42/48 | €282,008 | €481,342 | +€199,334 | +70.7% |
| Trade debts | 44 | €28,611 | €421,476 | +€392,865 | +1,373% |
| Suppliers | 440/4 | - | €421,476 | +€421,476 | |
| Taxes, remuneration and social security | 45 | - | €24,866 | +€24,866 | |
| Taxes | 450/3 | - | €24,866 | +€24,866 | |
| Other amounts payable | 47/48 | - | €35,000 | +€35,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,368 | €55,528 | +€23,160 | +71.6% |
| Other operating charges | 640/8 | - | €2,675 | +€2,675 | |
| Non-recurring operating charges | 66A | - | €602 | +€602 | |
| Gross operating margin | 9900 | €260,859 | €129,511 | -€131,348 | -50.4% |
| Operating profit (loss) | 9901 | €226,053 | €70,706 | -€155,347 | -68.7% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | - | €1,268 | +€1,268 | |
| Recurring financial charges | 65 | €410 | €1,268 | +€858 | +209% |
| Profit (loss) for the period before taxes | 9903 | €225,643 | €69,439 | -€156,204 | -69.2% |
| Income taxes | 67/77 | €88,956 | -€4,355 | -€93,311 | |
| Profit (loss) for the period | 9904 | €136,687 | €73,794 | -€62,893 | -46.0% |
| Profit (loss) for the period to be appropriated | 9905 | €136,687 | €73,794 | -€62,893 | -46.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2019 and 31 December 2021. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.