LEGHORNGROUP: 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.
LEGHORNGROUP
Largest movements
- Receivables within one year -€72,872
down €72,872 (-22.6%), from €322,040 to €249,167
of which Trade receivables: -€80,039
- Other debts -€50,000
down €50,000 (-100%), from €50,000 to €0
- Trade debts -€39,033
down €39,033 (-16.0%), from €244,654 to €205,621
- Debts after one year -€7,575
down €7,575 (-100%), from €7,575 to €0
- Reserves +€5,805
up €5,805 (+2.7%), from €211,508 to €217,313
of which Distributable reserves: +€5,805
- Gross operating margin -€39,073
down €39,073 (-54.5%), from €71,661 to €32,589
- Taxes -€8,334
down €8,334 (-73.3%), from €11,366 to €3,032
- Depreciation +€7,731
up €7,731 (+91.0%), from €8,494 to €16,225
- Other operating charges -€4,927
down €4,927 (-82.5%), from €5,970 to €1,042
- Financial charges -€1,054
down €1,054 (-24.2%), from €4,349 to €3,295
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 | €565,723 | €482,138 | -€83,585 | -14.8% |
| Fixed assets | 21/28 | €45,790 | €43,797 | -€1,993 | -4.4% |
| Tangible fixed assets | 22/27 | €44,980 | €42,522 | -€2,458 | -5.5% |
| Plant, machinery and equipment | 23 | €7,715 | €5,293 | -€2,421 | -31.4% |
| Furniture and vehicles | 24 | €37,266 | €37,229 | -€37 | -0.1% |
| Financial fixed assets | 28 | €810 | €1,275 | +€465 | +57.4% |
| Current assets | 29/58 | €519,933 | €438,341 | -€81,593 | -15.7% |
| Stocks and contracts in progress | 3 | €77,513 | €74,280 | -€3,233 | -4.2% |
| Stocks | 30/36 | €77,513 | €74,280 | -€3,233 | -4.2% |
| Amounts receivable within one year | 40/41 | €322,040 | €249,167 | -€72,872 | -22.6% |
| Trade receivables | 40 | €313,569 | €233,530 | -€80,039 | -25.5% |
| Other amounts receivable | 41 | €8,471 | €15,638 | +€7,167 | +84.6% |
| Cash at bank and in hand | 54/58 | €111,451 | €110,182 | -€1,269 | -1.1% |
| Deferred charges and accrued income | 490/1 | €8,930 | €4,711 | -€4,219 | -47.2% |
| Total equity and liabilities | 10/49 | €565,723 | €482,138 | -€83,585 | -14.8% |
| Equity | 10/15 | €231,508 | €237,313 | +€5,805 | +2.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €211,508 | €217,313 | +€5,805 | +2.7% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €192,758 | €198,563 | +€5,805 | +3.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €334,216 | €244,825 | -€89,391 | -26.7% |
| Amounts payable after more than one year | 17 | €7,575 | €0 | -€7,575 | -100% |
| Financial debts | 170/4 | €7,575 | €0 | -€7,575 | -100% |
| Amounts payable within one year | 42/48 | €326,640 | €244,825 | -€81,815 | -25.0% |
| Current portion of amounts payable after more than one year | 42 | €9,793 | €13,917 | +€4,124 | +42.1% |
| Financial debts | 43 | €3,395 | €3,369 | -€26 | -0.8% |
| Credit institutions | 430/8 | €3,395 | €3,369 | -€26 | -0.8% |
| Trade debts | 44 | €244,654 | €205,621 | -€39,033 | -16.0% |
| Suppliers | 440/4 | €244,654 | €205,621 | -€39,033 | -16.0% |
| Taxes, remuneration and social security | 45 | €18,798 | €21,918 | +€3,120 | +16.6% |
| Taxes | 450/3 | €18,798 | €21,918 | +€3,120 | +16.6% |
| Other amounts payable | 47/48 | €50,000 | €0 | -€50,000 | -100% |
| Remuneration, social security and pensions | 62 | €3,179 | €3,609 | +€430 | +13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,494 | €16,225 | +€7,731 | +91.0% |
| Other operating charges | 640/8 | €5,970 | €1,042 | -€4,927 | -82.5% |
| Gross operating margin | 9900 | €71,661 | €32,589 | -€39,073 | -54.5% |
| Operating profit (loss) | 9901 | €54,019 | €11,712 | -€42,306 | -78.3% |
| Financial income | 75/76B | €590 | €420 | -€170 | -28.8% |
| Recurring financial income | 75 | €590 | €420 | -€170 | -28.8% |
| Financial charges | 65/66B | €4,349 | €3,295 | -€1,054 | -24.2% |
| Recurring financial charges | 65 | €4,349 | €3,295 | -€1,054 | -24.2% |
| Profit (loss) for the period before taxes | 9903 | €50,260 | €8,838 | -€41,423 | -82.4% |
| Income taxes | 67/77 | €11,366 | €3,032 | -€8,334 | -73.3% |
| Profit (loss) for the period | 9904 | €38,894 | €5,805 | -€33,089 | -85.1% |
| Profit (loss) for the period to be appropriated | 9905 | €38,894 | €5,805 | -€33,089 | -85.1% |
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 24 October 2026 via checked.be.