Leo Construct: 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.
Leo Construct
Largest movements
- Cash +€16,231
up €16,231 (+634%), from €2,558 to €18,790
mainly Depreciation (+€21,750) and Trade debts (+€18,061)
- Receivables within one year -€6,301
down €6,301 (-3.2%), from €195,019 to €188,718
of which Trade receivables: -€15,605
- Tangible fixed assets -€5,267
down €5,267 (-12.8%), from €41,246 to €35,979
of which Furniture and vehicles: -€14,182
- Trade debts +€18,061
up €18,061 (+56.9%), from €31,754 to €49,815
- Reserves -€13,000
down €13,000 (-16.4%), from €79,100 to €66,100
- Other debts +€13,000
new in 2025: €13,000
- Debts after one year -€6,680
no longer reported in 2025 (was €6,680)
- Current portion of long-term debt -€4,771
down €4,771 (-41.7%), from €11,451 to €6,680
- Gross operating margin -€44,395
down €44,395 (-60.3%), from €73,648 to €29,253
- Taxes -€10,942
down €10,942 (-73.5%), from €14,890 to €3,947
- Financial charges -€3,391
down €3,391 (-32.8%), from €10,354 to €6,962
- Depreciation -€2,509
down €2,509 (-10.3%), from €24,259 to €21,750
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 | €244,132 | €251,029 | +€6,898 | +2.8% |
| Fixed assets | 21/28 | €41,726 | €36,459 | -€5,267 | -12.6% |
| Tangible fixed assets | 22/27 | €41,246 | €35,979 | -€5,267 | -12.8% |
| Plant, machinery and equipment | 23 | €10,204 | €19,119 | +€8,915 | +87.4% |
| Furniture and vehicles | 24 | €31,042 | €16,860 | -€14,182 | -45.7% |
| Financial fixed assets | 28 | €480 | €480 | = | 0.0% |
| Current assets | 29/58 | €202,405 | €214,570 | +€12,165 | +6.0% |
| Amounts receivable within one year | 40/41 | €195,019 | €188,718 | -€6,301 | -3.2% |
| Trade receivables | 40 | €40,440 | €24,835 | -€15,605 | -38.6% |
| Other amounts receivable | 41 | €154,579 | €163,883 | +€9,304 | +6.0% |
| Cash at bank and in hand | 54/58 | €2,558 | €18,790 | +€16,231 | +634% |
| Deferred charges and accrued income | 490/1 | €4,828 | €7,062 | +€2,234 | +46.3% |
| Total equity and liabilities | 10/49 | €244,132 | €251,029 | +€6,898 | +2.8% |
| Equity | 10/15 | €145,774 | €134,171 | -€11,603 | -8.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €79,100 | €66,100 | -€13,000 | -16.4% |
| Distributable reserves | 133 | €79,100 | €66,100 | -€13,000 | -16.4% |
| Profit (loss) carried forward | 14 | €65,674 | €67,071 | +€1,397 | +2.1% |
| Amounts payable | 17/49 | €98,357 | €116,858 | +€18,501 | +18.8% |
| Amounts payable after more than one year | 17 | €6,680 | - | -€6,680 | |
| Financial debts | 170/4 | €6,680 | - | -€6,680 | |
| Amounts payable within one year | 42/48 | €88,550 | €113,390 | +€24,840 | +28.1% |
| Current portion of amounts payable after more than one year | 42 | €11,451 | €6,680 | -€4,771 | -41.7% |
| Financial debts | 43 | €25,000 | €25,000 | = | 0.0% |
| Credit institutions | 430/8 | €25,000 | €25,000 | = | 0.0% |
| Trade debts | 44 | €31,754 | €49,815 | +€18,061 | +56.9% |
| Suppliers | 440/4 | €31,754 | €49,815 | +€18,061 | +56.9% |
| Taxes, remuneration and social security | 45 | €20,345 | €18,895 | -€1,450 | -7.1% |
| Taxes | 450/3 | €20,345 | €18,895 | -€1,450 | -7.1% |
| Other amounts payable | 47/48 | - | €13,000 | +€13,000 | |
| Accrued charges and deferred income | 492/3 | €3,127 | €3,468 | +€341 | +10.9% |
| Non-recurring operating income | 76A | €6,535 | - | -€6,535 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,259 | €21,750 | -€2,509 | -10.3% |
| Other operating charges | 640/8 | €2,910 | €3,272 | +€363 | +12.5% |
| Gross operating margin | 9900 | €73,648 | €29,253 | -€44,395 | -60.3% |
| Operating profit (loss) | 9901 | €46,480 | €4,231 | -€42,249 | -90.9% |
| Financial income | 75/76B | €7,444 | €8,075 | +€631 | +8.5% |
| Recurring financial income | 75 | €7,444 | €8,075 | +€631 | +8.5% |
| Financial charges | 65/66B | €10,354 | €6,962 | -€3,391 | -32.8% |
| Recurring financial charges | 65 | €10,354 | €6,962 | -€3,391 | -32.8% |
| Profit (loss) for the period before taxes | 9903 | €43,570 | €5,344 | -€38,226 | -87.7% |
| Income taxes | 67/77 | €14,890 | €3,947 | -€10,942 | -73.5% |
| Profit (loss) for the period | 9904 | €28,680 | €1,397 | -€27,283 | -95.1% |
| Profit (loss) for the period to be appropriated | 9905 | €28,680 | €1,397 | -€27,283 | -95.1% |
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 18 October 2026 via checked.be.