Leef: what changed
Two fiscal 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.
Leef
Largest movements
- Cash -€30,732
down €30,732 (-30.1%), from €102,264 to €71,532
mainly Trade debts (-€20,581) and Stocks and contracts (-€18,353)
- Stocks and contracts +€18,353
up €18,353 (+16.7%), from €109,711 to €128,064
- Tangible fixed assets -€10,916
down €10,916 (-81.9%), from €13,321 to €2,406
of which Furniture and vehicles: -€7,980
- Intangible fixed assets +€7,653
up €7,653 (+353.2%), from €2,167 to €9,820
- Trade debts -€20,581
down €20,581 (-46.3%), from €44,425 to €23,844
- Other debts +€17,417
up €17,417 (+72.5%), from €24,031 to €41,448
- Accrued charges and deferred income -€10,609
down €10,609 (-86.7%), from €12,237 to €1,628
- Reserves +€8,066
up €8,066 (+7.3%), from €110,632 to €118,697
- Current portion of long-term debt -€5,753
down €5,753 (-83.2%), from €6,910 to €1,158
- Staff costs +€7,270
up €7,270 (+18.8%), from €38,723 to €45,993
- Gross operating margin -€1,787
down €1,787 (-2.3%), from €76,839 to €75,052
- Taxes -€1,631
down €1,631 (-28.0%), from €5,834 to €4,203
- Write-downs -€1,452
down €1,452 (-80.0%), from €1,815 to €363
- Depreciation +€819
up €819 (+7.2%), from €11,416 to €12,235
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 | €235,326 | €218,352 | -€16,974 | -7.2% |
| Fixed assets | 21/28 | €17,388 | €14,125 | -€3,262 | -18.8% |
| Intangible fixed assets | 21 | €2,167 | €9,820 | +€7,653 | +353.2% |
| Tangible fixed assets | 22/27 | €13,321 | €2,406 | -€10,916 | -81.9% |
| Plant, machinery and equipment | 23 | €546 | €420 | -€126 | -23.1% |
| Furniture and vehicles | 24 | €8,776 | €796 | -€7,980 | -90.9% |
| Other tangible fixed assets | 26 | €3,999 | €1,190 | -€2,809 | -70.2% |
| Financial fixed assets | 28 | €1,900 | €1,900 | = | 0.0% |
| Current assets | 29/58 | €217,938 | €204,227 | -€13,711 | -6.3% |
| Stocks and contracts in progress | 3 | €109,711 | €128,064 | +€18,353 | +16.7% |
| Stocks | 30/36 | €109,711 | €128,064 | +€18,353 | +16.7% |
| Amounts receivable within one year | 40/41 | €3,305 | €3,700 | +€394 | +11.9% |
| Trade receivables | 40 | €2,612 | €2,875 | +€263 | +10.1% |
| Other amounts receivable | 41 | €694 | €825 | +€131 | +18.9% |
| Cash at bank and in hand | 54/58 | €102,264 | €71,532 | -€30,732 | -30.1% |
| Deferred charges and accrued income | 490/1 | €2,658 | €931 | -€1,727 | -65.0% |
| Total equity and liabilities | 10/49 | €235,326 | €218,352 | -€16,974 | -7.2% |
| Equity | 10/15 | €110,732 | €118,797 | +€8,066 | +7.3% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €110,632 | €118,697 | +€8,066 | +7.3% |
| Distributable reserves | 133 | €110,632 | €118,697 | +€8,066 | +7.3% |
| Amounts payable | 17/49 | €124,594 | €99,555 | -€25,039 | -20.1% |
| Amounts payable after more than one year | 17 | €1,158 | €0 | -€1,158 | -100.0% |
| Financial debts | 170/4 | €1,158 | €0 | -€1,158 | -100.0% |
| Amounts payable within one year | 42/48 | €111,199 | €97,927 | -€13,273 | -11.9% |
| Current portion of amounts payable after more than one year | 42 | €6,910 | €1,158 | -€5,753 | -83.2% |
| Trade debts | 44 | €44,425 | €23,844 | -€20,581 | -46.3% |
| Suppliers | 440/4 | €44,425 | €23,844 | -€20,581 | -46.3% |
| Taxes, remuneration and social security | 45 | €35,833 | €31,478 | -€4,355 | -12.2% |
| Taxes | 450/3 | €30,044 | €24,917 | -€5,126 | -17.1% |
| Remuneration and social security | 454/9 | €5,790 | €6,561 | +€771 | +13.3% |
| Other amounts payable | 47/48 | €24,031 | €41,448 | +€17,417 | +72.5% |
| Accrued charges and deferred income | 492/3 | €12,237 | €1,628 | -€10,609 | -86.7% |
| Remuneration, social security and pensions | 62 | €38,723 | €45,993 | +€7,270 | +18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,416 | €12,235 | +€819 | +7.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,815 | €363 | -€1,452 | -80.0% |
| Other operating charges | 640/8 | €2,015 | €1,741 | -€275 | -13.6% |
| Gross operating margin | 9900 | €76,839 | €75,052 | -€1,787 | -2.3% |
| Operating profit (loss) | 9901 | €22,870 | €14,720 | -€8,150 | -35.6% |
| Financial income | 75/76B | €327 | €239 | -€88 | -26.9% |
| Recurring financial income | 75 | €327 | €239 | -€88 | -26.9% |
| Financial charges | 65/66B | €3,145 | €2,690 | -€454 | -14.4% |
| Recurring financial charges | 65 | €3,145 | €2,690 | -€454 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | €20,052 | €12,269 | -€7,783 | -38.8% |
| Income taxes | 67/77 | €5,834 | €4,203 | -€1,631 | -28.0% |
| Profit (loss) for the period | 9904 | €14,218 | €8,066 | -€6,152 | -43.3% |
| Profit (loss) for the period to be appropriated | 9905 | €14,218 | €8,066 | -€6,152 | -43.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.