LEEN DE BELDER: 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
LEEN DE BELDER
NACE 70.200, Business and other management consultancy
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
€19,313
2025 · €26,767-€7,453
Equity
€474,300
2025 · €464,987+€9,313
Cash
€1,562
2025 · €1,231+€331
Balance sheet total
€1.3m
2025 · €928,235+€416,405
Largest movements
Assets
- Tangible fixed assets +€213,484
up €213,484 (+23.4%), from €914,198 to €1.1m
of which Land and buildings: +€219,994
- Financial fixed assets +€210,000
new in 2026: €210,000
Equity and liabilities
- Current portion of long-term debt +€236,200
up €236,200 (+1,615%), from €14,627 to €250,827
- Other debts +€172,942
up €172,942 (+476%), from €36,300 to €209,242
- Debts after one year -€15,113
down €15,113 (-4.5%), from €334,649 to €319,536
- Trade debts +€14,204
up €14,204 (+2,240%), from €634 to €14,838
Income statement
- Depreciation +€8,136
up €8,136 (+33.8%), from €24,096 to €32,232
- Gross operating margin +€5,047
up €5,047 (+7.1%), from €71,510 to €76,557
- Taxes +€3,131
up €3,131 (+42.2%), from €7,425 to €10,556
- Financial charges +€879
up €879 (+7.2%), from €12,149 to €13,027
From the 2025 result to the 2026 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 2025
€26,767
Gross operating margin
+€5,047
Depreciation
-€8,136
Other operating charges
-€355
Financial charges
-€879
Taxes
-€3,131
Result 2026
€19,313
raises the resultlowers the result
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€244,960
Investment
-€455,717
Financing
+€211,087
Cash 2025
€1,231
From operations (derived)
+€244,960
Net result for the year
+€19,313
Depreciation
+€32,232
Receivables within one year
+€7,660
Smaller working-capital items
+€881
Provisions
-€2,273
Trade debts
+€14,204
Other debts
+€172,942
Investment (derived)
-€455,717
Investment in fixed assets (net)
-€455,717
Financing
+€211,087
Debts after one year
-€15,113
Current portion of long-term debt
+€236,200
Contributions, distributions and other
-€10,000
Cash 2026
€1,562
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €928,235 | €1,344,641 | +€416,405 | +44.9% |
| Fixed assets | 21/28 | €914,198 | €1,337,682 | +€423,484 | +46.3% |
| Tangible fixed assets | 22/27 | €914,198 | €1,127,682 | +€213,484 | +23.4% |
| Land and buildings | 22 | €882,953 | €1,102,947 | +€219,994 | +24.9% |
| Plant, machinery and equipment | 23 | €1,318 | €808 | -€510 | -38.7% |
| Furniture and vehicles | 24 | €29,927 | €23,927 | -€6,000 | -20.0% |
| Financial fixed assets | 28 | - | €210,000 | +€210,000 | |
| Current assets | 29/58 | €14,038 | €6,958 | -€7,079 | -50.4% |
| Amounts receivable within one year | 40/41 | €12,806 | €5,146 | -€7,660 | -59.8% |
| Trade receivables | 40 | - | €5,146 | +€5,146 | |
| Other amounts receivable | 41 | €12,806 | €0 | -€12,806 | -100% |
| Cash at bank and in hand | 54/58 | €1,231 | €1,562 | +€331 | +26.9% |
| Deferred charges and accrued income | 490/1 | - | €250 | +€250 | |
| Total equity and liabilities | 10/49 | €928,235 | €1,344,641 | +€416,405 | +44.9% |
| Equity | 10/15 | €464,987 | €474,300 | +€9,313 | +2.0% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €440,198 | €449,511 | +€9,313 | +2.1% |
| Non-distributable reserves | 130/1 | €2,479 | €2,479 | = | 0.0% |
| Other | 1319 | €2,479 | €2,479 | = | 0.0% |
| Tax-exempt reserves | 132 | €281,669 | €272,578 | -€9,092 | -3.2% |
| Distributable reserves | 133 | €156,050 | €174,454 | +€18,405 | +11.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €69,614 | €67,341 | -€2,273 | -3.3% |
| Deferred taxes | 168 | €69,614 | €67,341 | -€2,273 | -3.3% |
| Amounts payable | 17/49 | €393,635 | €802,999 | +€409,365 | +104% |
| Amounts payable after more than one year | 17 | €334,649 | €319,536 | -€15,113 | -4.5% |
| Financial debts | 170/4 | €334,649 | €319,536 | -€15,113 | -4.5% |
| Amounts payable within one year | 42/48 | €58,986 | €483,463 | +€424,478 | +720% |
| Current portion of amounts payable after more than one year | 42 | €14,627 | €250,827 | +€236,200 | +1,615% |
| Trade debts | 44 | €634 | €14,838 | +€14,204 | +2,240% |
| Suppliers | 440/4 | €634 | €14,838 | +€14,204 | +2,240% |
| Taxes, remuneration and social security | 45 | €7,425 | €8,556 | +€1,131 | +15.2% |
| Taxes | 450/3 | €7,425 | €8,556 | +€1,131 | +15.2% |
| Other amounts payable | 47/48 | €36,300 | €209,242 | +€172,942 | +476% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,096 | €32,232 | +€8,136 | +33.8% |
| Other operating charges | 640/8 | €3,347 | €3,701 | +€355 | +10.6% |
| Gross operating margin | 9900 | €71,510 | €76,557 | +€5,047 | +7.1% |
| Operating profit (loss) | 9901 | €44,067 | €40,624 | -€3,444 | -7.8% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €12,149 | €13,027 | +€879 | +7.2% |
| Recurring financial charges | 65 | €12,149 | €13,027 | +€879 | +7.2% |
| Profit (loss) for the period before taxes | 9903 | €31,919 | €27,597 | -€4,322 | -13.5% |
| Transfer from deferred taxes | 780 | €2,273 | €2,273 | = | 0.0% |
| Income taxes | 67/77 | €7,425 | €10,556 | +€3,131 | +42.2% |
| Profit (loss) for the period | 9904 | €26,767 | €19,313 | -€7,453 | -27.8% |
| Transfer from tax-exempt reserves | 789 | €9,092 | €9,092 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €35,858 | €28,405 | -€7,453 | -20.8% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.