LEF+: 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.
LEF+
Largest movements
- Receivables within one year +€10,156
up €10,156 (+78.0%), from €13,014 to €23,169
of which Other amounts receivable: +€7,143
- Cash +€8,404
up €8,404 (+71.3%), from €11,782 to €20,186
mainly Net result for the year (+€22,615) and Tax, wage and social debts (+€9,030)
- Stocks and contracts +€2,962
up €2,962 (+27.5%), from €10,780 to €13,742
- Tangible fixed assets +€1,777
up €1,777 (+29.7%), from €5,987 to €7,764
of which Plant, machinery and equipment: +€3,042
- Deferred charges and accrued income -€705
down €705 (-95.8%), from €736 to €31
- Reserves +€22,615
up €22,615 (+334.4%), from €6,763 to €29,377
- Trade debts -€9,051
down €9,051 (-32.9%), from €27,525 to €18,474
- Tax, wage and social debts +€9,030
up €9,030 (+171.7%), from €5,261 to €14,291
of which Taxes: +€9,640
- Gross operating margin +€57,198
up €57,198 (+124.0%), from €46,115 to €103,313
- Staff costs +€37,089
up €37,089 (+111.8%), from €33,189 to €70,278
- Taxes +€5,755
up €5,755 (+259.4%), from €2,218 to €7,974
- Depreciation +€1,200
up €1,200 (+354.6%), from €338 to €1,539
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 | €42,548 | €65,142 | +€22,594 | +53.1% |
| Fixed assets | 21/28 | €6,237 | €8,014 | +€1,777 | +28.5% |
| Tangible fixed assets | 22/27 | €5,987 | €7,764 | +€1,777 | +29.7% |
| Plant, machinery and equipment | 23 | - | €3,042 | +€3,042 | |
| Furniture and vehicles | 24 | €5,987 | €4,722 | -€1,265 | -21.1% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €36,312 | €57,128 | +€20,816 | +57.3% |
| Stocks and contracts in progress | 3 | €10,780 | €13,742 | +€2,962 | +27.5% |
| Stocks | 30/36 | €10,780 | €13,742 | +€2,962 | +27.5% |
| Amounts receivable within one year | 40/41 | €13,014 | €23,169 | +€10,156 | +78.0% |
| Trade receivables | 40 | €8,209 | €11,221 | +€3,013 | +36.7% |
| Other amounts receivable | 41 | €4,805 | €11,948 | +€7,143 | +148.7% |
| Cash at bank and in hand | 54/58 | €11,782 | €20,186 | +€8,404 | +71.3% |
| Deferred charges and accrued income | 490/1 | €736 | €31 | -€705 | -95.8% |
| Total equity and liabilities | 10/49 | €42,548 | €65,142 | +€22,594 | +53.1% |
| Equity | 10/15 | €9,763 | €32,377 | +€22,615 | +231.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €6,763 | €29,377 | +€22,615 | +334.4% |
| Distributable reserves | 133 | €6,763 | €29,377 | +€22,615 | +334.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €32,786 | €32,765 | -€21 | -0.1% |
| Amounts payable within one year | 42/48 | €32,786 | €32,765 | -€21 | -0.1% |
| Trade debts | 44 | €27,525 | €18,474 | -€9,051 | -32.9% |
| Suppliers | 440/4 | €27,525 | €18,474 | -€9,051 | -32.9% |
| Taxes, remuneration and social security | 45 | €5,261 | €14,291 | +€9,030 | +171.7% |
| Taxes | 450/3 | €2,714 | €12,354 | +€9,640 | +355.2% |
| Remuneration and social security | 454/9 | €2,546 | €1,937 | -€610 | -23.9% |
| Remuneration, social security and pensions | 62 | €33,189 | €70,278 | +€37,089 | +111.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €338 | €1,539 | +€1,200 | +354.6% |
| Other operating charges | 640/8 | €2,032 | €1,057 | -€975 | -48.0% |
| Gross operating margin | 9900 | €46,115 | €103,313 | +€57,198 | +124.0% |
| Operating profit (loss) | 9901 | €10,555 | €30,438 | +€19,883 | +188.4% |
| Financial income | 75/76B | €132 | €248 | +€116 | +87.6% |
| Recurring financial income | 75 | €132 | €248 | +€116 | +87.6% |
| Financial charges | 65/66B | €0 | €97 | +€97 | +324566.7% |
| Recurring financial charges | 65 | €0 | €97 | +€97 | +324566.7% |
| Profit (loss) for the period before taxes | 9903 | €10,687 | €30,589 | +€19,902 | +186.2% |
| Income taxes | 67/77 | €2,218 | €7,974 | +€5,755 | +259.4% |
| Profit (loss) for the period | 9904 | €8,469 | €22,615 | +€14,146 | +167.0% |
| Profit (loss) for the period to be appropriated | 9905 | €8,469 | €22,615 | +€14,146 | +167.0% |
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 4 October 2026 via checked.be.