LEEWARD: 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
LEEWARD
NACE 69.101, Activities of lawyers
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€9,663
2024 · €176,113-€185,776
Equity
€933,370
2024 · €1.3m-€318,074
Cash
€445,116
2024 · €491,787-€46,671
Balance sheet total
€1.4m
2024 · €1.5m-€81,367
Largest movements
Assets
- Deferred charges and accrued income -€51,242
down €51,242 (-37.1%), from €138,052 to €86,810
- Cash -€46,671
down €46,671 (-9.5%), from €491,787 to €445,116
mainly Contributions, distributions and other (-€308,411) and Trade debts (-€23,642)
Equity and liabilities
- Reserves -€308,411
down €308,411 (-24.9%), from €1.2m to €930,633
of which Distributable reserves: -€308,411
- Other debts +€267,908
up €267,908 (+226%), from €118,299 to €386,207
- Trade debts -€23,642
down €23,642 (-34.0%), from €69,515 to €45,873
Income statement
- Gross operating margin -€221,200
down €221,200 (-65.4%), from €338,461 to €117,261
- Taxes -€83,834
down €83,834 (-99.4%), from €84,365 to €531
- Other operating charges +€53,278
up €53,278 (+1,625%), from €3,279 to €56,557
- Write-downs -€8,944
down €8,944 (-100%), from €8,944 to €0
- Staff costs +€6,167
up €6,167 (+9.6%), from €63,922 to €70,089
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.
Result 2024
€176,113
Gross operating margin
-€221,200
Staff costs
-€6,167
Depreciation
-€603
Write-downs
+€8,944
Other operating charges
-€53,278
Other operating items
-€1
Financial income
+€1,831
Financial charges
+€865
Taxes
+€83,834
Result 2025
-€9,663
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€266,497
Investment
+€0
Financing
-€313,167
Cash 2024
€491,787
From operations (derived)
+€266,497
Net result for the year
-€9,663
Depreciation
+€9,667
Receivables after one year
-€13,958
Receivables within one year
-€12,256
Deferred charges and accrued income
+€51,242
Trade debts
-€23,642
Tax, wage and social debts
-€1,802
Other debts
+€267,908
Accrued charges and deferred income
-€1,000
Investment (derived)
+€0
Investment in fixed assets (net)
+€0
Financing
-€313,167
Debts after one year
-€4,897
Current portion of long-term debt
+€203
Short-term financial debts
-€62
Contributions, distributions and other
-€308,411
Not broken down
-€1
Cash 2025
€445,116
brings cash intakes cash outdifference the filed balance sheets leave
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,521,457 | €1,440,090 | -€81,367 | -5.3% |
| Fixed assets | 21/28 | €65,866 | €56,198 | -€9,668 | -14.7% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €63,856 | €54,188 | -€9,668 | -15.1% |
| Land and buildings | 22 | €44,456 | €42,039 | -€2,417 | -5.4% |
| Plant, machinery and equipment | 23 | €4,609 | €3,576 | -€1,033 | -22.4% |
| Furniture and vehicles | 24 | €14,791 | €8,574 | -€6,217 | -42.0% |
| Financial fixed assets | 28 | €2,010 | €2,010 | = | 0.0% |
| Current assets | 29/58 | €1,455,591 | €1,383,892 | -€71,699 | -4.9% |
| Amounts receivable after more than one year | 29 | €541,609 | €555,567 | +€13,958 | +2.6% |
| Other amounts receivable | 291 | €541,609 | €555,567 | +€13,958 | +2.6% |
| Amounts receivable within one year | 40/41 | €284,143 | €296,399 | +€12,256 | +4.3% |
| Trade receivables | 40 | €256,539 | €186,275 | -€70,264 | -27.4% |
| Other amounts receivable | 41 | €27,603 | €110,124 | +€82,521 | +299% |
| Cash at bank and in hand | 54/58 | €491,787 | €445,116 | -€46,671 | -9.5% |
| Deferred charges and accrued income | 490/1 | €138,052 | €86,810 | -€51,242 | -37.1% |
| Total equity and liabilities | 10/49 | €1,521,457 | €1,440,090 | -€81,367 | -5.3% |
| Equity | 10/15 | €1,251,444 | €933,370 | -€318,074 | -25.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,239,044 | €930,633 | -€308,411 | -24.9% |
| Tax-exempt reserves | 132 | €82 | €82 | +€0 | +0.1% |
| Distributable reserves | 133 | €1,238,962 | €930,551 | -€308,411 | -24.9% |
| Profit (loss) carried forward | 14 | - | -€9,663 | -€9,663 | |
| Amounts payable | 17/49 | €270,012 | €506,720 | +€236,708 | +87.7% |
| Amounts payable after more than one year | 17 | €23,276 | €18,379 | -€4,897 | -21.0% |
| Financial debts | 170/4 | €23,276 | €18,379 | -€4,897 | -21.0% |
| Amounts payable within one year | 42/48 | €245,737 | €488,341 | +€242,604 | +98.7% |
| Current portion of amounts payable after more than one year | 42 | €4,694 | €4,897 | +€203 | +4.3% |
| Financial debts | 43 | €12,686 | €12,624 | -€62 | -0.5% |
| Credit institutions | 430/8 | €12,686 | €12,624 | -€62 | -0.5% |
| Trade debts | 44 | €69,515 | €45,873 | -€23,642 | -34.0% |
| Suppliers | 440/4 | €69,515 | €45,873 | -€23,642 | -34.0% |
| Taxes, remuneration and social security | 45 | €40,542 | €38,740 | -€1,802 | -4.4% |
| Taxes | 450/3 | €27,537 | €26,080 | -€1,457 | -5.3% |
| Remuneration and social security | 454/9 | €13,006 | €12,660 | -€346 | -2.7% |
| Other amounts payable | 47/48 | €118,299 | €386,207 | +€267,908 | +226% |
| Accrued charges and deferred income | 492/3 | €1,000 | €0 | -€1,000 | -100% |
| Remuneration, social security and pensions | 62 | €63,922 | €70,089 | +€6,167 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,064 | €9,667 | +€603 | +6.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,944 | €0 | -€8,944 | -100% |
| Other operating charges | 640/8 | €3,279 | €56,557 | +€53,278 | +1,625% |
| Gross operating margin | 9900 | €338,461 | €117,261 | -€221,200 | -65.4% |
| Operating profit (loss) | 9901 | €253,253 | -€19,053 | -€272,306 | |
| Financial income | 75/76B | €14,492 | €16,323 | +€1,831 | +12.6% |
| Recurring financial income | 75 | €14,492 | €16,323 | +€1,831 | +12.6% |
| Financial charges | 65/66B | €7,267 | €6,402 | -€865 | -11.9% |
| Recurring financial charges | 65 | €7,267 | €6,402 | -€865 | -11.9% |
| Profit (loss) for the period before taxes | 9903 | €260,478 | -€9,132 | -€269,610 | |
| Income taxes | 67/77 | €84,365 | €531 | -€83,834 | -99.4% |
| Profit (loss) for the period | 9904 | €176,113 | -€9,663 | -€185,776 | |
| Profit (loss) for the period to be appropriated | 9905 | €176,113 | -€9,663 | -€185,776 |
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.