LEO & BEN: 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.
LEO & BEN
Largest movements
- Tangible fixed assets -€9,303
down €9,303 (-39.4%), from €23,615 to €14,312
of which Plant, machinery and equipment: -€9,148
- Stocks and contracts -€1,881
down €1,881 (-10.1%), from €18,672 to €16,791
- Cash +€613
up €613 (+26.8%), from €2,290 to €2,903
mainly Other debts (+€39,913) and Depreciation (+€9,303)
- Profit (loss) carried forward -€57,908
down €57,908 (-25.7%), from -€224,919 to -€282,827
- Other debts +€39,913
up €39,913 (+173.9%), from €22,952 to €62,865
- Trade debts +€4,407
up €4,407 (+8.1%), from €54,427 to €58,834
- Tax, wage and social debts +€2,184
up €2,184 (+19.8%), from €11,004 to €13,188
of which Taxes: +€2,626
- Staff costs +€12,051
up €12,051 (+12.5%), from €96,614 to €108,665
- Gross operating margin -€11,494
down €11,494 (-15.5%), from €73,958 to €62,463
- Depreciation +€3,728
up €3,728 (+66.9%), from €5,575 to €9,303
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 | €47,149 | €35,845 | -€11,304 | -24.0% |
| Fixed assets | 21/28 | €23,838 | €14,535 | -€9,303 | -39.0% |
| Tangible fixed assets | 22/27 | €23,615 | €14,312 | -€9,303 | -39.4% |
| Land and buildings | 22 | €1,074 | €920 | -€154 | -14.4% |
| Plant, machinery and equipment | 23 | €22,541 | €13,392 | -€9,148 | -40.6% |
| Financial fixed assets | 28 | €223 | €223 | = | 0.0% |
| Current assets | 29/58 | €23,311 | €21,310 | -€2,001 | -8.6% |
| Stocks and contracts in progress | 3 | €18,672 | €16,791 | -€1,881 | -10.1% |
| Stocks | 30/36 | €18,672 | €16,791 | -€1,881 | -10.1% |
| Amounts receivable within one year | 40/41 | €2,087 | €1,616 | -€471 | -22.6% |
| Trade receivables | 40 | €2,087 | €1,607 | -€480 | -23.0% |
| Other amounts receivable | 41 | €1 | €9 | +€9 | +1533.3% |
| Cash at bank and in hand | 54/58 | €2,290 | €2,903 | +€613 | +26.8% |
| Deferred charges and accrued income | 490/1 | €263 | - | -€263 | |
| Total equity and liabilities | 10/49 | €47,149 | €35,845 | -€11,304 | -24.0% |
| Equity | 10/15 | -€203,501 | -€261,410 | -€57,908 | -28.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,417 | €1,417 | = | 0.0% |
| Distributable reserves | 133 | €1,417 | €1,417 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€224,919 | -€282,827 | -€57,908 | -25.7% |
| Amounts payable | 17/49 | €250,651 | €297,255 | +€46,604 | +18.6% |
| Amounts payable after more than one year | 17 | €152,500 | €152,500 | = | 0.0% |
| Financial debts | 170/4 | €152,500 | €152,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €98,151 | €144,755 | +€46,604 | +47.5% |
| Financial debts | 43 | €9,768 | €9,868 | +€100 | +1.0% |
| Credit institutions | 430/8 | €9,768 | €9,868 | +€100 | +1.0% |
| Trade debts | 44 | €54,427 | €58,834 | +€4,407 | +8.1% |
| Suppliers | 440/4 | €54,427 | €58,834 | +€4,407 | +8.1% |
| Taxes, remuneration and social security | 45 | €11,004 | €13,188 | +€2,184 | +19.8% |
| Taxes | 450/3 | €864 | €3,491 | +€2,626 | +303.8% |
| Remuneration and social security | 454/9 | €10,139 | €9,697 | -€442 | -4.4% |
| Other amounts payable | 47/48 | €22,952 | €62,865 | +€39,913 | +173.9% |
| Remuneration, social security and pensions | 62 | €96,614 | €108,665 | +€12,051 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,575 | €9,303 | +€3,728 | +66.9% |
| Other operating charges | 640/8 | €614 | €613 | -€1 | -0.2% |
| Gross operating margin | 9900 | €73,958 | €62,463 | -€11,494 | -15.5% |
| Operating profit (loss) | 9901 | -€28,846 | -€56,117 | -€27,271 | -94.5% |
| Financial income | 75/76B | - | €7 | +€7 | |
| Recurring financial income | 75 | - | €7 | +€7 | |
| Financial charges | 65/66B | €1,661 | €1,798 | +€137 | +8.3% |
| Recurring financial charges | 65 | €1,661 | €1,798 | +€137 | +8.3% |
| Profit (loss) for the period before taxes | 9903 | -€30,507 | -€57,908 | -€27,401 | -89.8% |
| Profit (loss) for the period | 9904 | -€30,507 | -€57,908 | -€27,401 | -89.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,507 | -€57,908 | -€27,401 | -89.8% |
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 3 October 2026 via checked.be.