LEEN WETSELS: 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 WETSELS
Largest movements
- Current investments -€74,757
down €74,757 (-37.4%), from €200,000 to €125,243
- Cash -€6,609
down €6,609 (-9.8%), from €67,556 to €60,947
mainly Contributions, distributions and other (-€125,000) and Other debts (-€57,462)
- Other debts -€57,462
down €57,462 (-39.6%), from €145,217 to €87,756
- Reserves -€42,393
down €42,393 (-24.2%), from €175,105 to €132,712
- Short-term financial debts +€6,728
up €6,728, from €0 to €6,728
- Tax, wage and social debts +€6,174
up €6,174 (+50.0%), from €12,338 to €18,513
of which Taxes: +€8,424
- Financial income -€162,990
down €162,990 (-99.5%), from €163,865 to €874
of which Non-recurring financial income: -€159,473
- Gross operating margin +€24,191
up €24,191 (+27.2%), from €89,089 to €113,281
- Taxes +€6,670
up €6,670 (+33.6%), from €19,868 to €26,539
- Depreciation -€2,002
down €2,002 (-49.0%), from €4,082 to €2,081
- Financial charges +€1,535
up €1,535 (+280%), from €549 to €2,083
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 | €352,749 | €267,294 | -€85,455 | -24.2% |
| Fixed assets | 21/28 | €60,866 | €60,786 | -€80 | -0.1% |
| Tangible fixed assets | 22/27 | €4,866 | €4,786 | -€81 | -1.7% |
| Furniture and vehicles | 24 | €4,866 | €4,786 | -€81 | -1.7% |
| Financial fixed assets | 28 | €56,000 | €56,001 | +€1 | 0.0% |
| Current assets | 29/58 | €291,883 | €206,508 | -€85,375 | -29.2% |
| Amounts receivable within one year | 40/41 | €20,809 | €19,360 | -€1,449 | -7.0% |
| Trade receivables | 40 | €19,360 | €19,360 | = | 0.0% |
| Other amounts receivable | 41 | €1,449 | €0 | -€1,449 | -100% |
| Current investments | 50/53 | €200,000 | €125,243 | -€74,757 | -37.4% |
| Cash at bank and in hand | 54/58 | €67,556 | €60,947 | -€6,609 | -9.8% |
| Deferred charges and accrued income | 490/1 | €3,518 | €958 | -€2,559 | -72.8% |
| Total equity and liabilities | 10/49 | €352,749 | €267,294 | -€85,455 | -24.2% |
| Equity | 10/15 | €193,705 | €151,312 | -€42,393 | -21.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €175,105 | €132,712 | -€42,393 | -24.2% |
| Distributable reserves | 133 | €175,105 | €132,712 | -€42,393 | -24.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €159,044 | €115,982 | -€43,062 | -27.1% |
| Amounts payable within one year | 42/48 | €159,044 | €115,982 | -€43,062 | -27.1% |
| Financial debts | 43 | €0 | €6,728 | +€6,728 | |
| Credit institutions | 430/8 | €0 | €6,728 | +€6,728 | |
| Trade debts | 44 | €1,488 | €2,986 | +€1,498 | +101% |
| Suppliers | 440/4 | €1,488 | €2,986 | +€1,498 | +101% |
| Taxes, remuneration and social security | 45 | €12,338 | €18,513 | +€6,174 | +50.0% |
| Taxes | 450/3 | €10,088 | €18,513 | +€8,424 | +83.5% |
| Remuneration and social security | 454/9 | €2,250 | €0 | -€2,250 | -100% |
| Other amounts payable | 47/48 | €145,217 | €87,756 | -€57,462 | -39.6% |
| Non-recurring operating income | 76A | €1,787 | €0 | -€1,787 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,082 | €2,081 | -€2,002 | -49.0% |
| Other operating charges | 640/8 | €825 | €845 | +€21 | +2.5% |
| Gross operating margin | 9900 | €89,089 | €113,281 | +€24,191 | +27.2% |
| Operating profit (loss) | 9901 | €84,182 | €110,355 | +€26,172 | +31.1% |
| Financial income | 75/76B | €163,865 | €874 | -€162,990 | -99.5% |
| Recurring financial income | 75 | €4,392 | €874 | -€3,518 | -80.1% |
| Non-recurring financial income | 76B | €159,473 | €0 | -€159,473 | -100% |
| Financial charges | 65/66B | €549 | €2,083 | +€1,535 | +280% |
| Recurring financial charges | 65 | €549 | €2,083 | +€1,535 | +280% |
| Profit (loss) for the period before taxes | 9903 | €247,498 | €109,145 | -€138,353 | -55.9% |
| Income taxes | 67/77 | €19,868 | €26,539 | +€6,670 | +33.6% |
| Profit (loss) for the period | 9904 | €227,630 | €82,607 | -€145,023 | -63.7% |
| Profit (loss) for the period to be appropriated | 9905 | €227,630 | €82,607 | -€145,023 | -63.7% |
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 15 October 2026 via checked.be.