Leneso: 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.
Leneso
Largest movements
- Cash -€146,108
down €146,108 (-27.7%), from €527,850 to €381,741
mainly Contributions, distributions and other (-€402,557) and Investment in fixed assets (net) (-€75,844)
- Current investments +€54,781
up €54,781 (+9.7%), from €562,819 to €617,600
- Tangible fixed assets +€46,798
up €46,798 (+94.3%), from €49,602 to €96,399
of which Furniture and vehicles: +€47,030
- Receivables within one year +€17,268
up €17,268 (+18.7%), from €92,256 to €109,524
of which Other amounts receivable: +€22,454
- Reserves -€260,170
down €260,170 (-36.2%), from €717,913 to €457,742
- Other debts +€227,540
up €227,540 (+50.3%), from €452,346 to €679,886
- Gross operating margin -€17,525
down €17,525 (-5.1%), from €341,467 to €323,942
- Financial income +€13,090
up €13,090 (+70.8%), from €18,476 to €31,567
- Staff costs +€11,720
up €11,720 (+17.5%), from €67,077 to €78,797
- Financial charges +€8,020
up €8,020 (+33.4%), from €23,998 to €32,018
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 | €1,240,381 | €1,211,187 | -€29,193 | -2.4% |
| Fixed assets | 21/28 | €51,157 | €97,954 | +€46,798 | +91.5% |
| Tangible fixed assets | 22/27 | €49,602 | €96,399 | +€46,798 | +94.3% |
| Plant, machinery and equipment | 23 | €9,609 | €10,677 | +€1,067 | +11.1% |
| Furniture and vehicles | 24 | €34,739 | €81,770 | +€47,030 | +135% |
| Other tangible fixed assets | 26 | €5,253 | €3,953 | -€1,300 | -24.7% |
| Financial fixed assets | 28 | €1,555 | €1,555 | = | 0.0% |
| Current assets | 29/58 | €1,189,224 | €1,113,233 | -€75,991 | -6.4% |
| Amounts receivable within one year | 40/41 | €92,256 | €109,524 | +€17,268 | +18.7% |
| Trade receivables | 40 | €92,256 | €87,070 | -€5,186 | -5.6% |
| Other amounts receivable | 41 | €0 | €22,454 | +€22,454 | |
| Current investments | 50/53 | €562,819 | €617,600 | +€54,781 | +9.7% |
| Cash at bank and in hand | 54/58 | €527,850 | €381,741 | -€146,108 | -27.7% |
| Deferred charges and accrued income | 490/1 | €6,299 | €4,368 | -€1,931 | -30.7% |
| Total equity and liabilities | 10/49 | €1,240,381 | €1,211,187 | -€29,193 | -2.4% |
| Equity | 10/15 | €722,913 | €462,742 | -€260,170 | -36.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €717,913 | €457,742 | -€260,170 | -36.2% |
| Distributable reserves | 133 | €717,913 | €457,742 | -€260,170 | -36.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €517,468 | €748,445 | +€230,977 | +44.6% |
| Amounts payable within one year | 42/48 | €504,281 | €732,242 | +€227,961 | +45.2% |
| Trade debts | 44 | €1,785 | €7,987 | +€6,202 | +347% |
| Suppliers | 440/4 | €1,785 | €7,987 | +€6,202 | +347% |
| Taxes, remuneration and social security | 45 | €50,150 | €44,370 | -€5,780 | -11.5% |
| Taxes | 450/3 | €33,753 | €25,914 | -€7,839 | -23.2% |
| Remuneration and social security | 454/9 | €16,397 | €18,456 | +€2,059 | +12.6% |
| Other amounts payable | 47/48 | €452,346 | €679,886 | +€227,540 | +50.3% |
| Accrued charges and deferred income | 492/3 | €13,187 | €16,203 | +€3,016 | +22.9% |
| Non-recurring operating income | 76A | - | €4,421 | +€4,421 | |
| Remuneration, social security and pensions | 62 | €67,077 | €78,797 | +€11,720 | +17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,291 | €29,046 | +€2,756 | +10.5% |
| Other operating charges | 640/8 | €2,940 | €2,821 | -€120 | -4.1% |
| Non-recurring operating charges | 66A | €2,984 | €0 | -€2,984 | -100% |
| Gross operating margin | 9900 | €341,467 | €323,942 | -€17,525 | -5.1% |
| Operating profit (loss) | 9901 | €242,175 | €213,278 | -€28,897 | -11.9% |
| Financial income | 75/76B | €18,476 | €31,567 | +€13,090 | +70.8% |
| Recurring financial income | 75 | €18,476 | €31,567 | +€13,090 | +70.8% |
| Financial charges | 65/66B | €23,998 | €32,018 | +€8,020 | +33.4% |
| Recurring financial charges | 65 | €23,998 | €32,018 | +€8,020 | +33.4% |
| Profit (loss) for the period before taxes | 9903 | €236,653 | €212,826 | -€23,827 | -10.1% |
| Income taxes | 67/77 | €71,800 | €70,440 | -€1,360 | -1.9% |
| Profit (loss) for the period | 9904 | €164,853 | €142,386 | -€22,467 | -13.6% |
| Profit (loss) for the period to be appropriated | 9905 | €164,853 | €142,386 | -€22,467 | -13.6% |
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 14 October 2026 via checked.be.