LEEN DE BORGER: 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.
LEEN DE BORGER
Largest movements
- Cash +€8,549
up €8,549 (+188%), from €4,550 to €13,099
mainly Net result for the year (+€9,121) and Trade debts (+€6,237)
- Receivables within one year -€2,744
down €2,744 (-11.1%), from €24,626 to €21,882
of which Trade receivables: -€2,298
- Tangible fixed assets -€2,230
down €2,230 (-79.4%), from €2,808 to €578
of which Furniture and vehicles: -€1,531
- Other debts -€12,000
no longer reported in 2025 (was €12,000)
- Profit (loss) carried forward +€9,121
up €9,121 (+83.6%), from -€10,905 to -€1,783
- Trade debts +€6,237
up €6,237 (+65.1%), from €9,580 to €15,817
- Tax, wage and social debts +€475
up €475 (+19.4%), from €2,444 to €2,918
- Provisions +€33,308
no longer reported in 2025 (was -€33,308)
- Gross operating margin +€24,407
up €24,407, from -€8,304 to €16,103
- Taxes +€1,526
up €1,526 (+55.8%), from €2,736 to €4,262
- Depreciation -€410
down €410 (-15.5%), from €2,640 to €2,230
- Financial income -€254
down €254 (-24.1%), from €1,055 to €801
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 | €38,511 | €42,043 | +€3,532 | +9.2% |
| Fixed assets | 21/28 | €2,808 | €578 | -€2,230 | -79.4% |
| Tangible fixed assets | 22/27 | €2,808 | €578 | -€2,230 | -79.4% |
| Plant, machinery and equipment | 23 | €1,278 | €578 | -€699 | -54.7% |
| Furniture and vehicles | 24 | €1,531 | - | -€1,531 | |
| Current assets | 29/58 | €35,703 | €41,465 | +€5,762 | +16.1% |
| Stocks and contracts in progress | 3 | €5,597 | €5,616 | +€19 | +0.3% |
| Stocks | 30/36 | €5,597 | €5,616 | +€19 | +0.3% |
| Amounts receivable within one year | 40/41 | €24,626 | €21,882 | -€2,744 | -11.1% |
| Trade receivables | 40 | €5,761 | €3,463 | -€2,298 | -39.9% |
| Other amounts receivable | 41 | €18,864 | €18,418 | -€446 | -2.4% |
| Cash at bank and in hand | 54/58 | €4,550 | €13,099 | +€8,549 | +188% |
| Deferred charges and accrued income | 490/1 | €931 | €868 | -€63 | -6.8% |
| Total equity and liabilities | 10/49 | €38,511 | €42,043 | +€3,532 | +9.2% |
| Equity | 10/15 | €14,187 | €23,309 | +€9,121 | +64.3% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €302 | €302 | = | 0.0% |
| Distributable reserves | 133 | €302 | €302 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,905 | -€1,783 | +€9,121 | +83.6% |
| Amounts payable | 17/49 | €24,324 | €18,735 | -€5,589 | -23.0% |
| Amounts payable within one year | 42/48 | €24,023 | €18,735 | -€5,289 | -22.0% |
| Trade debts | 44 | €9,580 | €15,817 | +€6,237 | +65.1% |
| Suppliers | 440/4 | €9,580 | €15,817 | +€6,237 | +65.1% |
| Taxes, remuneration and social security | 45 | €2,444 | €2,918 | +€475 | +19.4% |
| Taxes | 450/3 | €2,444 | €2,918 | +€475 | +19.4% |
| Other amounts payable | 47/48 | €12,000 | - | -€12,000 | |
| Accrued charges and deferred income | 492/3 | €300 | - | -€300 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,640 | €2,230 | -€410 | -15.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€33,308 | - | +€33,308 | |
| Other operating charges | 640/8 | €1,276 | €1,159 | -€117 | -9.2% |
| Gross operating margin | 9900 | -€8,304 | €16,103 | +€24,407 | |
| Operating profit (loss) | 9901 | €21,088 | €12,714 | -€8,374 | -39.7% |
| Financial income | 75/76B | €1,055 | €801 | -€254 | -24.1% |
| Recurring financial income | 75 | €1,055 | €801 | -€254 | -24.1% |
| Financial charges | 65/66B | €132 | €131 | -€1 | -0.8% |
| Recurring financial charges | 65 | €132 | €131 | -€1 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €22,011 | €13,383 | -€8,627 | -39.2% |
| Income taxes | 67/77 | €2,736 | €4,262 | +€1,526 | +55.8% |
| Profit (loss) for the period | 9904 | €19,274 | €9,121 | -€10,153 | -52.7% |
| Profit (loss) for the period to be appropriated | 9905 | €19,274 | €9,121 | -€10,153 | -52.7% |
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 31 October 2026 via checked.be.