Leo Rex: 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 Rex
Largest movements
- Cash +€22,316
up €22,316 (+163.4%), from €13,655 to €35,971
mainly Net result for the year (+€33,953) and Depreciation (+€7,330)
- Receivables within one year -€4,376
down €4,376 (-9.2%), from €47,530 to €43,154
of which Trade receivables: -€12,276
- Tangible fixed assets -€2,523
down €2,523 (-13.5%), from €18,643 to €16,120
of which Furniture and vehicles: -€5,659
- Deferred charges and accrued income -€1,796
down €1,796 (-55.2%), from €3,255 to €1,459
- Reserves +€33,953
up €33,953 (+106.9%), from €31,762 to €65,715
- Trade debts -€23,987
down €23,987 (-62.0%), from €38,708 to €14,721
- Tax, wage and social debts +€3,814
up €3,814 (+61.0%), from €6,255 to €10,068
- Financial charges -€45,485
down €45,485 (-91.7%), from €49,605 to €4,120
- Gross operating margin +€32,789
up €32,789 (+152.6%), from €21,488 to €54,277
- Taxes +€7,145
up €7,145 (+1965.4%), from €364 to €7,508
- Staff costs -€3,696
no longer reported in 2025 (was €3,696)
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 | €83,083 | €96,704 | +€13,622 | +16.4% |
| Fixed assets | 21/28 | €18,643 | €16,120 | -€2,523 | -13.5% |
| Tangible fixed assets | 22/27 | €18,643 | €16,120 | -€2,523 | -13.5% |
| Land and buildings | 22 | €1,478 | €4,614 | +€3,136 | +212.2% |
| Furniture and vehicles | 24 | €17,165 | €11,506 | -€5,659 | -33.0% |
| Current assets | 29/58 | €64,440 | €80,584 | +€16,145 | +25.1% |
| Amounts receivable within one year | 40/41 | €47,530 | €43,154 | -€4,376 | -9.2% |
| Trade receivables | 40 | €47,530 | €35,254 | -€12,276 | -25.8% |
| Other amounts receivable | 41 | - | €7,900 | +€7,900 | |
| Cash at bank and in hand | 54/58 | €13,655 | €35,971 | +€22,316 | +163.4% |
| Deferred charges and accrued income | 490/1 | €3,255 | €1,459 | -€1,796 | -55.2% |
| Total equity and liabilities | 10/49 | €83,083 | €96,704 | +€13,622 | +16.4% |
| Equity | 10/15 | €37,962 | €71,915 | +€33,953 | +89.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €31,762 | €65,715 | +€33,953 | +106.9% |
| Distributable reserves | 133 | €31,762 | €65,715 | +€33,953 | +106.9% |
| Amounts payable | 17/49 | €45,120 | €24,789 | -€20,331 | -45.1% |
| Amounts payable within one year | 42/48 | €45,120 | €24,789 | -€20,331 | -45.1% |
| Trade debts | 44 | €38,708 | €14,721 | -€23,987 | -62.0% |
| Suppliers | 440/4 | €38,708 | €14,721 | -€23,987 | -62.0% |
| Taxes, remuneration and social security | 45 | €6,255 | €10,068 | +€3,814 | +61.0% |
| Taxes | 450/3 | €6,255 | €10,068 | +€3,814 | +61.0% |
| Other amounts payable | 47/48 | €157 | - | -€157 | |
| Remuneration, social security and pensions | 62 | €3,696 | - | -€3,696 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,790 | €7,330 | +€539 | +7.9% |
| Other operating charges | 640/8 | €1,680 | €1,513 | -€166 | -9.9% |
| Gross operating margin | 9900 | €21,488 | €54,277 | +€32,789 | +152.6% |
| Operating profit (loss) | 9901 | €9,322 | €45,434 | +€36,112 | +387.4% |
| Financial income | 75/76B | - | €147 | +€147 | |
| Recurring financial income | 75 | - | €147 | +€147 | |
| Financial charges | 65/66B | €49,605 | €4,120 | -€45,485 | -91.7% |
| Recurring financial charges | 65 | €49,605 | €4,120 | -€45,485 | -91.7% |
| Profit (loss) for the period before taxes | 9903 | -€40,283 | €41,461 | +€81,744 | |
| Income taxes | 67/77 | €364 | €7,508 | +€7,145 | +1965.4% |
| Profit (loss) for the period | 9904 | -€40,647 | €33,953 | +€74,599 | |
| Profit (loss) for the period to be appropriated | 9905 | -€40,647 | €33,953 | +€74,599 |
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 2 October 2026 via checked.be.