LEEN MARTENS: 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 MARTENS
Largest movements
- Cash +€262,871
up €262,871 (+47.5%), from €553,677 to €816,548
mainly Net result for the year (+€358,690) and Other debts (+€178,127)
- Intangible fixed assets -€81,757
down €81,757 (-27.3%), from €299,251 to €217,495
- Tangible fixed assets -€52,170
down €52,170 (-5.5%), from €956,319 to €904,149
of which Furniture and vehicles: -€32,562
- Current investments +€24,691
up €24,691 (+13.7%), from €180,056 to €204,746
- Other debts +€178,127
up €178,127 (+665%), from €26,771 to €204,898
- Reserves +€154,416
up €154,416 (+9.5%), from €1.6m to €1.8m
of which Distributable reserves: +€154,416
- Debts after one year -€131,058
down €131,058 (-55.3%), from €236,892 to €105,834
- Current portion of long-term debt -€33,184
down €33,184 (-35.1%), from €94,609 to €61,425
- Tax, wage and social debts -€28,030
down €28,030 (-31.9%), from €87,753 to €59,723
of which Taxes: -€31,110
- Gross operating margin +€38,000
up €38,000 (+4.3%), from €876,977 to €914,977
- Taxes +€9,440
up €9,440 (+6.1%), from €154,606 to €164,046
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 | €2,076,763 | €2,222,541 | +€145,778 | +7.0% |
| Fixed assets | 21/28 | €1,255,571 | €1,121,644 | -€133,926 | -10.7% |
| Intangible fixed assets | 21 | €299,251 | €217,495 | -€81,757 | -27.3% |
| Tangible fixed assets | 22/27 | €956,319 | €904,149 | -€52,170 | -5.5% |
| Land and buildings | 22 | €706,015 | €686,375 | -€19,641 | -2.8% |
| Plant, machinery and equipment | 23 | €554 | €1,917 | +€1,363 | +246% |
| Furniture and vehicles | 24 | €238,219 | €205,658 | -€32,562 | -13.7% |
| Other tangible fixed assets | 26 | €11,531 | €10,200 | -€1,331 | -11.5% |
| Current assets | 29/58 | €821,192 | €1,100,897 | +€279,704 | +34.1% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €180,056 | €204,746 | +€24,691 | +13.7% |
| Cash at bank and in hand | 54/58 | €553,677 | €816,548 | +€262,871 | +47.5% |
| Deferred charges and accrued income | 490/1 | €87,459 | €79,602 | -€7,857 | -9.0% |
| Total equity and liabilities | 10/49 | €2,076,763 | €2,222,541 | +€145,778 | +7.0% |
| Equity | 10/15 | €1,621,288 | €1,775,704 | +€154,416 | +9.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €1,619,288 | €1,773,704 | +€154,416 | +9.5% |
| Tax-exempt reserves | 132 | €1,698 | €1,698 | = | 0.0% |
| Distributable reserves | 133 | €1,617,590 | €1,772,006 | +€154,416 | +9.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €455,475 | €446,837 | -€8,638 | -1.9% |
| Amounts payable after more than one year | 17 | €236,892 | €105,834 | -€131,058 | -55.3% |
| Financial debts | 170/4 | €236,892 | €105,834 | -€131,058 | -55.3% |
| Amounts payable within one year | 42/48 | €214,076 | €336,251 | +€122,175 | +57.1% |
| Current portion of amounts payable after more than one year | 42 | €94,609 | €61,425 | -€33,184 | -35.1% |
| Trade debts | 44 | €4,943 | €10,205 | +€5,262 | +106% |
| Suppliers | 440/4 | €4,943 | €10,205 | +€5,262 | +106% |
| Taxes, remuneration and social security | 45 | €87,753 | €59,723 | -€28,030 | -31.9% |
| Taxes | 450/3 | €55,200 | €24,090 | -€31,110 | -56.4% |
| Remuneration and social security | 454/9 | €32,553 | €35,634 | +€3,081 | +9.5% |
| Other amounts payable | 47/48 | €26,771 | €204,898 | +€178,127 | +665% |
| Accrued charges and deferred income | 492/3 | €4,507 | €4,753 | +€245 | +5.4% |
| Remuneration, social security and pensions | 62 | €234,971 | €242,693 | +€7,722 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €144,759 | €147,621 | +€2,862 | +2.0% |
| Other operating charges | 640/8 | €5,203 | €5,253 | +€50 | +1.0% |
| Non-recurring operating charges | 66A | €324 | €63 | -€261 | -80.5% |
| Gross operating margin | 9900 | €876,977 | €914,977 | +€38,000 | +4.3% |
| Operating profit (loss) | 9901 | €491,720 | €519,347 | +€27,627 | +5.6% |
| Financial income | 75/76B | €6,858 | €10,322 | +€3,463 | +50.5% |
| Recurring financial income | 75 | €6,858 | €10,322 | +€3,463 | +50.5% |
| Financial charges | 65/66B | €9,761 | €6,933 | -€2,828 | -29.0% |
| Recurring financial charges | 65 | €9,761 | €6,933 | -€2,828 | -29.0% |
| Profit (loss) for the period before taxes | 9903 | €488,817 | €522,736 | +€33,919 | +6.9% |
| Income taxes | 67/77 | €154,606 | €164,046 | +€9,440 | +6.1% |
| Profit (loss) for the period | 9904 | €334,210 | €358,690 | +€24,479 | +7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €334,210 | €358,690 | +€24,479 | +7.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.