Leges: 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.
Leges
Largest movements
- Cash -€57,062
down €57,062 (-8.9%), from €638,371 to €581,309
mainly Contributions, distributions and other (-€127,200) and Other debts (-€25,922)
- Tangible fixed assets -€20,424
down €20,424 (-10.5%), from €195,271 to €174,847
- Other debts -€25,922
down €25,922 (-78.8%), from €32,897 to €6,975
- Current portion of long-term debt -€21,314
down €21,314 (-56.5%), from €37,696 to €16,382
- Debts after one year -€16,382
no longer reported in 2025 (was €16,382)
- Gross operating margin -€100,820
down €100,820 (-22.2%), from €454,378 to €353,558
- Depreciation -€25,424
down €25,424 (-52.9%), from €48,064 to €22,640
- Taxes +€5,715
up €5,715 (+12.0%), from €47,719 to €53,434
- Financial income -€5,553
down €5,553 (-47.9%), from €11,582 to €6,029
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 | €894,347 | €822,443 | -€71,904 | -8.0% |
| Fixed assets | 21/28 | €198,621 | €176,937 | -€21,684 | -10.9% |
| Intangible fixed assets | 21 | €3,150 | €1,890 | -€1,260 | -40.0% |
| Tangible fixed assets | 22/27 | €195,271 | €174,847 | -€20,424 | -10.5% |
| Land and buildings | 22 | €162,732 | €155,402 | -€7,330 | -4.5% |
| Plant, machinery and equipment | 23 | €18,212 | €10,915 | -€7,297 | -40.1% |
| Furniture and vehicles | 24 | €14,327 | €8,530 | -€5,797 | -40.5% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €695,726 | €645,506 | -€50,220 | -7.2% |
| Amounts receivable within one year | 40/41 | €57,355 | €64,197 | +€6,842 | +11.9% |
| Trade receivables | 40 | €33,352 | €40,365 | +€7,013 | +21.0% |
| Other amounts receivable | 41 | €24,003 | €23,832 | -€171 | -0.7% |
| Cash at bank and in hand | 54/58 | €638,371 | €581,309 | -€57,062 | -8.9% |
| Total equity and liabilities | 10/49 | €894,347 | €822,443 | -€71,904 | -8.0% |
| Equity | 10/15 | €642,452 | €642,315 | -€137 | 0.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €105,610 | €105,610 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €85,000 | €85,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €524,442 | €524,305 | -€137 | 0.0% |
| Amounts payable | 17/49 | €251,895 | €180,128 | -€71,767 | -28.5% |
| Amounts payable after more than one year | 17 | €16,382 | - | -€16,382 | |
| Financial debts | 170/4 | €16,382 | - | -€16,382 | |
| Amounts payable within one year | 42/48 | €235,513 | €180,128 | -€55,385 | -23.5% |
| Current portion of amounts payable after more than one year | 42 | €37,696 | €16,382 | -€21,314 | -56.5% |
| Taxes, remuneration and social security | 45 | €164,920 | €156,771 | -€8,149 | -4.9% |
| Taxes | 450/3 | €121,407 | €112,411 | -€8,996 | -7.4% |
| Remuneration and social security | 454/9 | €43,513 | €44,360 | +€847 | +1.9% |
| Other amounts payable | 47/48 | €32,897 | €6,975 | -€25,922 | -78.8% |
| Remuneration, social security and pensions | 62 | €156,876 | €152,600 | -€4,276 | -2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,064 | €22,640 | -€25,424 | -52.9% |
| Gross operating margin | 9900 | €454,378 | €353,558 | -€100,820 | -22.2% |
| Operating profit (loss) | 9901 | €249,438 | €178,318 | -€71,120 | -28.5% |
| Financial income | 75/76B | €11,582 | €6,029 | -€5,553 | -47.9% |
| Recurring financial income | 75 | €11,582 | €6,029 | -€5,553 | -47.9% |
| Financial charges | 65/66B | €5,108 | €3,850 | -€1,258 | -24.6% |
| Recurring financial charges | 65 | €5,108 | €3,850 | -€1,258 | -24.6% |
| Profit (loss) for the period before taxes | 9903 | €255,912 | €180,497 | -€75,415 | -29.5% |
| Income taxes | 67/77 | €47,719 | €53,434 | +€5,715 | +12.0% |
| Profit (loss) for the period | 9904 | €208,193 | €127,063 | -€81,130 | -39.0% |
| Profit (loss) for the period to be appropriated | 9905 | €208,193 | €127,063 | -€81,130 | -39.0% |
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 30 September 2026 via checked.be.