LEEB BELGIUM: 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.
LEEB BELGIUM
Largest movements
- Receivables within one year +€481,876
up €481,876 (+348%), from €138,529 to €620,404
of which Trade receivables: +€491,880
- Stocks and contracts +€106,000
up €106,000 (+21.4%), from €495,000 to €601,000
- Cash -€50,061
down €50,061 (-78.0%), from €64,162 to €14,101
mainly Receivables within one year (-€481,876) and Stocks and contracts (-€106,000)
- Tangible fixed assets -€15,105
down €15,105 (-81.0%), from €18,644 to €3,539
of which Plant, machinery and equipment: -€12,567
- Advances received +€447,447
up €447,447 (+851%), from €52,553 to €500,000
- Debts after one year +€111,000
up €111,000 (+31.3%), from €355,000 to €466,000
- Tax, wage and social debts -€43,740
down €43,740 (-61.7%), from €70,876 to €27,137
of which Taxes: -€34,449
- Profit (loss) carried forward +€14,368
up €14,368 (+8.7%), from €165,850 to €180,218
- Staff costs -€82,980
down €82,980 (-20.7%), from €401,181 to €318,201
- Gross operating margin -€79,170
down €79,170 (-18.0%), from €439,180 to €360,009
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 | €726,933 | €1,244,967 | +€518,035 | +71.3% |
| Fixed assets | 21/28 | €18,644 | €3,539 | -€15,105 | -81.0% |
| Tangible fixed assets | 22/27 | €18,644 | €3,539 | -€15,105 | -81.0% |
| Plant, machinery and equipment | 23 | €15,877 | €3,310 | -€12,567 | -79.2% |
| Furniture and vehicles | 24 | €2,767 | €229 | -€2,538 | -91.7% |
| Current assets | 29/58 | €708,289 | €1,241,428 | +€533,139 | +75.3% |
| Stocks and contracts in progress | 3 | €495,000 | €601,000 | +€106,000 | +21.4% |
| Contracts in progress | 37 | €495,000 | €601,000 | +€106,000 | +21.4% |
| Amounts receivable within one year | 40/41 | €138,529 | €620,404 | +€481,876 | +348% |
| Trade receivables | 40 | €122,553 | €614,433 | +€491,880 | +401% |
| Other amounts receivable | 41 | €15,976 | €5,971 | -€10,005 | -62.6% |
| Cash at bank and in hand | 54/58 | €64,162 | €14,101 | -€50,061 | -78.0% |
| Deferred charges and accrued income | 490/1 | €10,598 | €5,923 | -€4,676 | -44.1% |
| Total equity and liabilities | 10/49 | €726,933 | €1,244,967 | +€518,035 | +71.3% |
| Equity | 10/15 | €187,850 | €202,218 | +€14,368 | +7.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €165,850 | €180,218 | +€14,368 | +8.7% |
| Amounts payable | 17/49 | €539,082 | €1,042,749 | +€503,667 | +93.4% |
| Amounts payable after more than one year | 17 | €355,000 | €466,000 | +€111,000 | +31.3% |
| Other amounts payable | 178/9 | €355,000 | €466,000 | +€111,000 | +31.3% |
| Amounts payable within one year | 42/48 | €184,082 | €576,749 | +€392,667 | +213% |
| Trade debts | 44 | €60,653 | €49,612 | -€11,041 | -18.2% |
| Suppliers | 440/4 | €60,653 | €49,612 | -€11,041 | -18.2% |
| Advances received on contracts in progress | 46 | €52,553 | €500,000 | +€447,447 | +851% |
| Taxes, remuneration and social security | 45 | €70,876 | €27,137 | -€43,740 | -61.7% |
| Taxes | 450/3 | €43,512 | €9,063 | -€34,449 | -79.2% |
| Remuneration and social security | 454/9 | €27,365 | €18,074 | -€9,291 | -34.0% |
| Remuneration, social security and pensions | 62 | €401,181 | €318,201 | -€82,980 | -20.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,422 | €15,105 | -€4,317 | -22.2% |
| Other operating charges | 640/8 | €1,322 | €1,719 | +€397 | +30.0% |
| Gross operating margin | 9900 | €439,180 | €360,009 | -€79,170 | -18.0% |
| Operating profit (loss) | 9901 | €17,254 | €24,985 | +€7,730 | +44.8% |
| Financial income | 75/76B | €0 | €0 | +€0 | +288% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +288% |
| Financial charges | 65/66B | €2,949 | €2,121 | -€828 | -28.1% |
| Recurring financial charges | 65 | €2,949 | €2,121 | -€828 | -28.1% |
| Profit (loss) for the period before taxes | 9903 | €14,305 | €22,864 | +€8,559 | +59.8% |
| Income taxes | 67/77 | €10,775 | €8,497 | -€2,278 | -21.1% |
| Profit (loss) for the period | 9904 | €3,531 | €14,368 | +€10,837 | +307% |
| Profit (loss) for the period to be appropriated | 9905 | €3,531 | €14,368 | +€10,837 | +307% |
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.