Leemans Guy: 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.
Leemans Guy
Largest movements
- Stocks and contracts -€855,785
down €855,785 (-97.8%), from €875,358 to €19,572
- Tangible fixed assets +€677,819
up €677,819 (+4917.5%), from €13,784 to €691,603
of which Land and buildings: +€618,954
- Cash +€31,710
up €31,710 (+32.2%), from €98,455 to €130,164
mainly Stocks and contracts (+€855,785) and Depreciation (+€164,248)
- Receivables within one year -€30,436
down €30,436 (-92.4%), from €32,948 to €2,512
of which Other amounts receivable: -€27,642
- Tax, wage and social debts -€176,273
down €176,273 (-92.6%), from €190,361 to €14,088
of which Taxes: -€174,673
- Reserves +€123,279
up €123,279 (+112.9%), from €109,151 to €232,430
- Debts after one year -€84,815
down €84,815 (-37.4%), from €226,533 to €141,718
of which Financial debts: -€97,865
- Trade debts -€46,676
down €46,676 (-76.2%), from €61,260 to €14,584
- Gross operating margin +€148,044
up €148,044 (+72.1%), from €205,441 to €353,484
- Depreciation +€137,292
up €137,292 (+509.3%), from €26,956 to €164,248
- Taxes +€27,944
up €27,944 (+93.6%), from €29,845 to €57,790
- Financial charges -€22,468
down €22,468 (-70.3%), from €31,951 to €9,483
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 | €1,025,202 | €850,012 | -€175,191 | -17.1% |
| Fixed assets | 21/28 | €14,284 | €691,603 | +€677,319 | +4741.9% |
| Tangible fixed assets | 22/27 | €13,784 | €691,603 | +€677,819 | +4917.5% |
| Land and buildings | 22 | - | €618,954 | +€618,954 | |
| Plant, machinery and equipment | 23 | €13,784 | €5,332 | -€8,452 | -61.3% |
| Furniture and vehicles | 24 | €0 | €67,316 | +€67,316 | |
| Financial fixed assets | 28 | €500 | €0 | -€500 | -100.0% |
| Current assets | 29/58 | €1,010,919 | €158,409 | -€852,509 | -84.3% |
| Stocks and contracts in progress | 3 | €875,358 | €19,572 | -€855,785 | -97.8% |
| Contracts in progress | 37 | €875,358 | €19,572 | -€855,785 | -97.8% |
| Amounts receivable within one year | 40/41 | €32,948 | €2,512 | -€30,436 | -92.4% |
| Trade receivables | 40 | €2,794 | €0 | -€2,794 | -100.0% |
| Other amounts receivable | 41 | €30,155 | €2,512 | -€27,642 | -91.7% |
| Cash at bank and in hand | 54/58 | €98,455 | €130,164 | +€31,710 | +32.2% |
| Deferred charges and accrued income | 490/1 | €4,158 | €6,160 | +€2,003 | +48.2% |
| Total equity and liabilities | 10/49 | €1,025,202 | €850,012 | -€175,191 | -17.1% |
| Equity | 10/15 | €115,351 | €238,630 | +€123,279 | +106.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €109,151 | €232,430 | +€123,279 | +112.9% |
| Distributable reserves | 133 | €109,151 | €232,430 | +€123,279 | +112.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €909,851 | €611,381 | -€298,470 | -32.8% |
| Amounts payable after more than one year | 17 | €226,533 | €141,718 | -€84,815 | -37.4% |
| Financial debts | 170/4 | €226,533 | €128,668 | -€97,865 | -43.2% |
| Other amounts payable | 178/9 | - | €13,050 | +€13,050 | |
| Amounts payable within one year | 42/48 | €683,172 | €469,663 | -€213,509 | -31.3% |
| Current portion of amounts payable after more than one year | 42 | €7,725 | €7,865 | +€140 | +1.8% |
| Trade debts | 44 | €61,260 | €14,584 | -€46,676 | -76.2% |
| Suppliers | 440/4 | €61,260 | €14,584 | -€46,676 | -76.2% |
| Taxes, remuneration and social security | 45 | €190,361 | €14,088 | -€176,273 | -92.6% |
| Taxes | 450/3 | €188,761 | €14,088 | -€174,673 | -92.5% |
| Remuneration and social security | 454/9 | €1,600 | €0 | -€1,600 | -100.0% |
| Other amounts payable | 47/48 | €423,827 | €433,127 | +€9,300 | +2.2% |
| Accrued charges and deferred income | 492/3 | €146 | €0 | -€146 | -100.0% |
| Non-recurring operating income | 76A | - | €7,500 | +€7,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,956 | €164,248 | +€137,292 | +509.3% |
| Other operating charges | 640/8 | €1,202 | €1,140 | -€62 | -5.1% |
| Gross operating margin | 9900 | €205,441 | €353,484 | +€148,044 | +72.1% |
| Operating profit (loss) | 9901 | €177,283 | €188,096 | +€10,813 | +6.1% |
| Financial income | 75/76B | €851 | €2,456 | +€1,605 | +188.7% |
| Recurring financial income | 75 | €851 | €2,456 | +€1,605 | +188.7% |
| Financial charges | 65/66B | €31,951 | €9,483 | -€22,468 | -70.3% |
| Recurring financial charges | 65 | €31,951 | €9,483 | -€22,468 | -70.3% |
| Profit (loss) for the period before taxes | 9903 | €146,182 | €181,069 | +€34,886 | +23.9% |
| Income taxes | 67/77 | €29,845 | €57,790 | +€27,944 | +93.6% |
| Profit (loss) for the period | 9904 | €116,337 | €123,279 | +€6,942 | +6.0% |
| Profit (loss) for the period to be appropriated | 9905 | €116,337 | €123,279 | +€6,942 | +6.0% |
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 8 October 2026 via checked.be.