LeefGoed: 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.
What changed
LeefGoed
NACE 68.121, Development of residential building projects
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€417,118
2024 · -€1.1m+€1.6m
Equity
€92.5m
2024 · €90.7m+€1.8m
Cash
€16.9m
2024 · €11.0m+€5.9m
Balance sheet total
€570.8m
2024 · €551.9m+€18.8m
Largest movements
Assets
- Tangible fixed assets +€19.2m
up €19.2m (+3.9%), from €492.8m to €512.0m
of which Land and buildings: +€31.9m
- Current investments -€7.3m
down €7.3m (-100.0%), from €7.3m to €2,990
of which Other investments: -€7.3m
- Cash +€5.9m
up €5.9m (+54.0%), from €11.0m to €16.9m
mainly Depreciation (+€15.4m) and Debts after one year (+€9.5m)
Equity and liabilities
- Debts after one year +€9.5m
up €9.5m (+2.2%), from €429.6m to €439.1m
of which Financial debts: +€9.8m
- Current portion of long-term debt +€7.4m
up €7.4m (+46.5%), from €15.8m to €23.2m
Income statement
- Turnover -€7.5m
down €7.5m (-17.6%), from €42.9m to €35.3m
- Goods and materials -€6.8m
down €6.8m (-66.2%), from €10.2m to €3.5m
of which Change in stocks: decrease (increase): -€5.5m
- Other operating income +€1.1m
up €1.1m (+59.4%), from €1.9m to €3.0m
- Financial income +€1.1m
up €1.1m (+13.4%), from €8.0m to €9.1m
- Services and other goods +€972,655
up €972,655 (+10.2%), from €9.5m to €10.5m
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.
Result 2024
-€1.1m
Turnover
-€7.5m
Other operating income
+€1.1m
Goods and materials
+€6.8m
Services and other goods
-€972,655
Staff costs
-€452,035
Depreciation
-€494,445
Write-downs
-€151,828
Provisions
+€204,095
Other operating charges
+€951,621
Other operating items
+€2.0m
Financial income
+€1.1m
Financial charges
-€967,228
Taxes
+€3,622
Deferred taxes and other
-€14,003
Result 2025
€417,118
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.
From operations
+€15.4m
Investment
-€27.7m
Financing
+€18.3m
Cash 2024
€11.0m
From operations (derived)
+€15.4m
Net result for the year
+€417,118
Depreciation
+€15.4m
Receivables after one year
+€110,000
Stocks and contracts
+€716,015
Receivables within one year
-€617,616
Deferred charges and accrued income
-€817,460
Provisions
-€139,985
Trade debts
-€1.9m
Tax, wage and social debts
+€1.3m
Other debts
+€396,992
Accrued charges and deferred income
+€569,962
Investment (derived)
-€27.7m
Investment in fixed assets (net)
-€35.0m
Current investments
+€7.3m
Financing
+€18.3m
Debts after one year
+€9.5m
Current portion of long-term debt
+€7.4m
Contributions, distributions and other
+€1.4m
Cash 2025
€16.9m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €551,927,033 | €570,754,360 | +€18.8m | +3.4% |
| Fixed assets | 21/28 | €494,252,307 | €513,832,012 | +€19.6m | +4.0% |
| Intangible fixed assets | 21 | €11,873 | €3,472 | -€8,401 | -70.8% |
| Tangible fixed assets | 22/27 | €492,763,912 | €511,966,023 | +€19.2m | +3.9% |
| Land and buildings | 22 | €452,411,899 | €484,330,629 | +€31.9m | +7.1% |
| Plant, machinery and equipment | 23 | €60,391 | €49,994 | -€10,397 | -17.2% |
| Furniture and vehicles | 24 | €264,633 | €180,140 | -€84,493 | -31.9% |
| Other tangible fixed assets | 26 | €5,984,699 | €5,745,539 | -€239,160 | -4.0% |
| Assets under construction and advance payments | 27 | €34,042,290 | €21,659,721 | -€12.4m | -36.4% |
| Financial fixed assets | 28 | €1,476,522 | €1,862,517 | +€385,995 | +26.1% |
| Other financial fixed assets | 284/8 | €1,476,522 | €1,862,517 | +€385,995 | +26.1% |
| Shares | 284 | €1,432,122 | €1,818,117 | +€385,995 | +27.0% |
| Amounts receivable and cash guarantees | 285/8 | €44,400 | €44,400 | = | 0.0% |
| Current assets | 29/58 | €57,674,726 | €56,922,348 | -€752,378 | -1.3% |
| Amounts receivable after more than one year | 29 | €360,060 | €250,060 | -€110,000 | -30.6% |
| Other amounts receivable | 291 | €360,060 | €250,060 | -€110,000 | -30.6% |
| Stocks and contracts in progress | 3 | €32,299,806 | €31,583,791 | -€716,015 | -2.2% |
| Stocks | 30/36 | €32,299,806 | €31,583,791 | -€716,015 | -2.2% |
| Property held for sale | 35 | €32,299,806 | €31,583,791 | -€716,015 | -2.2% |
| Amounts receivable within one year | 40/41 | €2,023,825 | €2,641,441 | +€617,616 | +30.5% |
| Trade receivables | 40 | €1,019,638 | €1,624,716 | +€605,078 | +59.3% |
| Other amounts receivable | 41 | €1,004,187 | €1,016,725 | +€12,538 | +1.2% |
| Current investments | 50/53 | €7,299,770 | €2,990 | -€7.3m | -100.0% |
| Own shares | 50 | - | €2,246 | +€2,246 | |
| Other investments | 51/53 | €7,299,770 | €744 | -€7.3m | -100.0% |
| Cash at bank and in hand | 54/58 | €10,988,951 | €16,924,292 | +€5.9m | +54.0% |
| Deferred charges and accrued income | 490/1 | €4,702,314 | €5,519,774 | +€817,460 | +17.4% |
| Total equity and liabilities | 10/49 | €551,927,033 | €570,754,360 | +€18.8m | +3.4% |
| Equity | 10/15 | €90,734,575 | €92,517,644 | +€1.8m | +2.0% |
| Contributions | 10/11 | €501,169 | €502,837 | +€1,668 | +0.3% |
| Reserves | 13 | €59,138,014 | €59,555,133 | +€417,119 | +0.7% |
| Non-distributable reserves | 130/1 | €43,497,262 | €44,043,235 | +€545,973 | +1.3% |
| Reserves not available under the articles | 1311 | €30,803,236 | €31,815,610 | +€1.0m | +3.3% |
| Own shares acquired | 1312 | - | €2,246 | +€2,246 | |
| Other | 1319 | €12,694,026 | €12,225,379 | -€468,647 | -3.7% |
| Tax-exempt reserves | 132 | €15,571,810 | €15,442,956 | -€128,854 | -0.8% |
| Distributable reserves | 133 | €68,942 | €68,942 | = | 0.0% |
| Investment grants | 15 | €31,095,392 | €32,459,674 | +€1.4m | +4.4% |
| Provisions and deferred taxes | 16 | €2,070,493 | €1,930,508 | -€139,985 | -6.8% |
| Provisions for liabilities and charges | 160/5 | €244,767 | €40,671 | -€204,096 | -83.4% |
| Other liabilities and charges | 164/5 | €244,767 | €40,671 | -€204,096 | -83.4% |
| Deferred taxes | 168 | €1,825,726 | €1,889,837 | +€64,111 | +3.5% |
| Amounts payable | 17/49 | €459,121,965 | €476,306,208 | +€17.2m | +3.7% |
| Amounts payable after more than one year | 17 | €429,562,679 | €439,083,134 | +€9.5m | +2.2% |
| Financial debts | 170/4 | €424,984,546 | €434,791,212 | +€9.8m | +2.3% |
| Credit institutions | 173 | €424,984,546 | €434,791,212 | +€9.8m | +2.3% |
| Other amounts payable | 178/9 | €4,578,133 | €4,291,922 | -€286,211 | -6.3% |
| Amounts payable within one year | 42/48 | €26,896,815 | €33,990,641 | +€7.1m | +26.4% |
| Current portion of amounts payable after more than one year | 42 | €15,841,787 | €23,206,023 | +€7.4m | +46.5% |
| Trade debts | 44 | €7,270,579 | €5,339,428 | -€1.9m | -26.6% |
| Suppliers | 440/4 | €7,270,579 | €5,339,428 | -€1.9m | -26.6% |
| Taxes, remuneration and social security | 45 | €2,222,167 | €3,485,916 | +€1.3m | +56.9% |
| Taxes | 450/3 | €1,206,638 | €2,402,976 | +€1.2m | +99.1% |
| Remuneration and social security | 454/9 | €1,015,529 | €1,082,940 | +€67,411 | +6.6% |
| Other amounts payable | 47/48 | €1,562,282 | €1,959,274 | +€396,992 | +25.4% |
| Accrued charges and deferred income | 492/3 | €2,662,471 | €3,232,433 | +€569,962 | +21.4% |
| Operating income | 70/76A | €45,416,108 | €40,414,524 | -€5.0m | -11.0% |
| Turnover | 70 | €42,853,240 | €35,325,415 | -€7.5m | -17.6% |
| Own construction capitalised | 72 | €297,074 | €530,783 | +€233,709 | +78.7% |
| Other operating income | 74 | €1,881,785 | €2,998,837 | +€1.1m | +59.4% |
| Non-recurring operating income | 76A | €384,009 | €1,559,489 | +€1.2m | +306.1% |
| Operating charges | 60/66A | €45,461,349 | €38,998,705 | -€6.5m | -14.2% |
| Goods for resale, raw materials and consumables | 60 | €10,239,556 | €3,459,570 | -€6.8m | -66.2% |
| Purchases | 600/8 | €3,865,058 | €2,631,513 | -€1.2m | -31.9% |
| Change in stocks: decrease (increase) | 609 | €6,374,498 | €828,057 | -€5.5m | -87.0% |
| Services and other goods | 61 | €9,490,243 | €10,462,898 | +€972,655 | +10.2% |
| Remuneration, social security and pensions | 62 | €6,665,795 | €7,117,830 | +€452,035 | +6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,946,287 | €15,440,732 | +€494,445 | +3.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€125,781 | €26,047 | +€151,828 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€204,095 | -€204,095 | |
| Other operating charges | 640/8 | €3,172,728 | €2,221,107 | -€951,621 | -30.0% |
| Non-recurring operating charges | 66A | €1,072,521 | €474,616 | -€597,905 | -55.7% |
| Operating profit (loss) | 9901 | -€45,241 | €1,415,819 | +€1.5m | |
| Financial income | 75/76B | €8,029,017 | €9,106,157 | +€1.1m | +13.4% |
| Recurring financial income | 75 | €8,029,017 | €9,106,157 | +€1.1m | +13.4% |
| Income from current assets | 751 | €394,937 | €265,128 | -€129,809 | -32.9% |
| Other financial income | 752/9 | €7,634,080 | €8,841,029 | +€1.2m | +15.8% |
| Financial charges | 65/66B | €9,181,873 | €10,149,101 | +€967,228 | +10.5% |
| Recurring financial charges | 65 | €9,181,873 | €10,149,101 | +€967,228 | +10.5% |
| Debt charges | 650 | €9,176,509 | €10,137,271 | +€960,762 | +10.5% |
| Other financial charges | 652/9 | €5,364 | €11,830 | +€6,466 | +120.5% |
| Profit (loss) for the period before taxes | 9903 | -€1,198,097 | €372,875 | +€1.6m | |
| Transfer from deferred taxes | 780 | €58,521 | €44,518 | -€14,003 | -23.9% |
| Income taxes | 67/77 | €3,897 | €275 | -€3,622 | -92.9% |
| Taxes | 670/3 | €3,897 | €275 | -€3,622 | -92.9% |
| Profit (loss) for the period | 9904 | -€1,143,473 | €417,118 | +€1.6m | |
| Transfer from tax-exempt reserves | 789 | €128,854 | €128,854 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,014,619 | €545,972 | +€1.6m |
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 11 October 2026 via checked.be.