LEERMAKERS: 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.
LEERMAKERS
Largest movements
- Receivables within one year +€75,554
up €75,554 (+70.3%), from €107,479 to €183,033
of which Other amounts receivable: +€60,226
- Cash -€55,337
down €55,337 (-50.9%), from €108,649 to €53,312
mainly Receivables within one year (-€75,554) and Debts after one year (-€19,063)
- Tangible fixed assets -€16,929
down €16,929 (-6.6%), from €258,343 to €241,415
of which Land and buildings: -€9,188
- Reserves +€20,936
up €20,936 (+5.2%), from €400,397 to €421,333
- Debts after one year -€19,063
down €19,063 (-56.3%), from €33,833 to €14,771
- Advances received +€11,011
new in 2025: €11,011
- Tax, wage and social debts -€7,069
down €7,069 (-24.0%), from €29,400 to €22,332
- Current portion of long-term debt -€6,963
down €6,963 (-24.8%), from €28,076 to €21,113
- Depreciation -€12,028
down €12,028 (-38.5%), from €31,281 to €19,253
- Gross operating margin +€9,254
up €9,254 (+21.8%), from €42,437 to €51,691
- Taxes +€8,819
up €8,819 (+217.3%), from €4,059 to €12,878
- Financial income +€4,445
up €4,445 (+116.5%), from €3,816 to €8,262
- Other operating charges +€2,074
up €2,074 (+63.6%), from €3,264 to €5,339
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 | €518,937 | €522,225 | +€3,288 | +0.6% |
| Fixed assets | 21/28 | €295,701 | €278,772 | -€16,929 | -5.7% |
| Tangible fixed assets | 22/27 | €258,343 | €241,415 | -€16,929 | -6.6% |
| Land and buildings | 22 | €215,976 | €206,787 | -€9,188 | -4.3% |
| Plant, machinery and equipment | 23 | €3,971 | €3,278 | -€693 | -17.4% |
| Furniture and vehicles | 24 | €31,990 | €24,942 | -€7,048 | -22.0% |
| Other tangible fixed assets | 26 | €6,407 | €6,407 | = | 0.0% |
| Financial fixed assets | 28 | €37,358 | €37,358 | = | 0.0% |
| Current assets | 29/58 | €223,236 | €243,453 | +€20,217 | +9.1% |
| Amounts receivable within one year | 40/41 | €107,479 | €183,033 | +€75,554 | +70.3% |
| Trade receivables | 40 | €537 | €15,865 | +€15,328 | +2856.1% |
| Other amounts receivable | 41 | €106,942 | €167,168 | +€60,226 | +56.3% |
| Cash at bank and in hand | 54/58 | €108,649 | €53,312 | -€55,337 | -50.9% |
| Deferred charges and accrued income | 490/1 | €7,108 | €7,108 | = | 0.0% |
| Total equity and liabilities | 10/49 | €518,937 | €522,225 | +€3,288 | +0.6% |
| Equity | 10/15 | €400,397 | €421,333 | +€20,936 | +5.2% |
| Reserves | 13 | €400,397 | €421,333 | +€20,936 | +5.2% |
| Distributable reserves | 133 | €400,397 | €421,333 | +€20,936 | +5.2% |
| Amounts payable | 17/49 | €118,540 | €100,892 | -€17,648 | -14.9% |
| Amounts payable after more than one year | 17 | €33,833 | €14,771 | -€19,063 | -56.3% |
| Financial debts | 170/4 | €33,833 | €14,771 | -€19,063 | -56.3% |
| Amounts payable within one year | 42/48 | €84,706 | €86,121 | +€1,414 | +1.7% |
| Current portion of amounts payable after more than one year | 42 | €28,076 | €21,113 | -€6,963 | -24.8% |
| Trade debts | 44 | €27,230 | €31,665 | +€4,435 | +16.3% |
| Suppliers | 440/4 | €27,230 | €31,665 | +€4,435 | +16.3% |
| Advances received on contracts in progress | 46 | - | €11,011 | +€11,011 | |
| Taxes, remuneration and social security | 45 | €29,400 | €22,332 | -€7,069 | -24.0% |
| Taxes | 450/3 | €29,400 | €22,332 | -€7,069 | -24.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,281 | €19,253 | -€12,028 | -38.5% |
| Other operating charges | 640/8 | €3,264 | €5,339 | +€2,074 | +63.6% |
| Gross operating margin | 9900 | €42,437 | €51,691 | +€9,254 | +21.8% |
| Operating profit (loss) | 9901 | €7,892 | €27,100 | +€19,208 | +243.4% |
| Financial income | 75/76B | €3,816 | €8,262 | +€4,445 | +116.5% |
| Recurring financial income | 75 | €3,816 | €8,262 | +€4,445 | +116.5% |
| Financial charges | 65/66B | €1,952 | €1,547 | -€405 | -20.7% |
| Recurring financial charges | 65 | €1,952 | €1,547 | -€405 | -20.7% |
| Profit (loss) for the period before taxes | 9903 | €9,756 | €33,814 | +€24,058 | +246.6% |
| Income taxes | 67/77 | €4,059 | €12,878 | +€8,819 | +217.3% |
| Profit (loss) for the period | 9904 | €5,697 | €20,936 | +€15,239 | +267.5% |
| Profit (loss) for the period to be appropriated | 9905 | €5,697 | €20,936 | +€15,239 | +267.5% |
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 6 October 2026 via checked.be.