LEOCEL: 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.
LEOCEL
Largest movements
- Cash +€30,277
up €30,277 (+61.5%), from €49,247 to €79,523
mainly Net result for the year (+€26,351) and Depreciation (+€11,773)
- Tangible fixed assets -€11,067
down €11,067 (-3.0%), from €369,621 to €358,553
of which Land and buildings: -€11,369
- Receivables within one year +€7,413
up €7,413 (+37.2%), from €19,933 to €27,346
of which Trade receivables: +€12,267
- Profit (loss) carried forward +€26,351
up €26,351, from -€1,203 to €25,148
- Debts after one year -€8,125
down €8,125 (-2.1%), from €383,132 to €375,007
of which Financial debts: -€13,053
- Accrued charges and deferred income +€7,877
up €7,877 (+23.4%), from €33,650 to €41,527
- Taxes +€5,977
up €5,977 (+597.7%), from €1,000 to €6,977
- Gross operating margin +€4,358
up €4,358 (+7.2%), from €60,415 to €64,773
- Financial charges +€1,869
up €1,869 (+13.3%), from €14,074 to €15,943
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 | €439,090 | €465,519 | +€26,429 | +6.0% |
| Fixed assets | 21/28 | €369,621 | €358,553 | -€11,067 | -3.0% |
| Tangible fixed assets | 22/27 | €369,621 | €358,553 | -€11,067 | -3.0% |
| Land and buildings | 22 | €367,630 | €356,261 | -€11,369 | -3.1% |
| Furniture and vehicles | 24 | €1,991 | €2,292 | +€301 | +15.1% |
| Current assets | 29/58 | €69,469 | €106,965 | +€37,496 | +54.0% |
| Amounts receivable within one year | 40/41 | €19,933 | €27,346 | +€7,413 | +37.2% |
| Trade receivables | 40 | €8,933 | €21,200 | +€12,267 | +137.3% |
| Other amounts receivable | 41 | €11,000 | €6,146 | -€4,854 | -44.1% |
| Cash at bank and in hand | 54/58 | €49,247 | €79,523 | +€30,277 | +61.5% |
| Deferred charges and accrued income | 490/1 | €289 | €96 | -€193 | -66.8% |
| Total equity and liabilities | 10/49 | €439,090 | €465,519 | +€26,429 | +6.0% |
| Equity | 10/15 | €3,797 | €30,148 | +€26,351 | +693.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,203 | €25,148 | +€26,351 | |
| Amounts payable | 17/49 | €435,293 | €435,371 | +€78 | 0.0% |
| Amounts payable after more than one year | 17 | €383,132 | €375,007 | -€8,125 | -2.1% |
| Financial debts | 170/4 | €334,130 | €321,077 | -€13,053 | -3.9% |
| Other amounts payable | 178/9 | €49,002 | €53,930 | +€4,928 | +10.1% |
| Amounts payable within one year | 42/48 | €18,511 | €18,837 | +€327 | +1.8% |
| Current portion of amounts payable after more than one year | 42 | €12,464 | €13,053 | +€589 | +4.7% |
| Trade debts | 44 | €1,303 | €123 | -€1,180 | -90.6% |
| Suppliers | 440/4 | €1,303 | €123 | -€1,180 | -90.6% |
| Taxes, remuneration and social security | 45 | €4,744 | €5,661 | +€917 | +19.3% |
| Taxes | 450/3 | €4,744 | €5,661 | +€917 | +19.3% |
| Accrued charges and deferred income | 492/3 | €33,650 | €41,527 | +€7,877 | +23.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,639 | €11,773 | +€134 | +1.1% |
| Other operating charges | 640/8 | €3,615 | €3,729 | +€114 | +3.1% |
| Gross operating margin | 9900 | €60,415 | €64,773 | +€4,358 | +7.2% |
| Operating profit (loss) | 9901 | €45,160 | €49,271 | +€4,110 | +9.1% |
| Financial charges | 65/66B | €14,074 | €15,943 | +€1,869 | +13.3% |
| Recurring financial charges | 65 | €14,074 | €15,943 | +€1,869 | +13.3% |
| Profit (loss) for the period before taxes | 9903 | €31,086 | €33,327 | +€2,241 | +7.2% |
| Income taxes | 67/77 | €1,000 | €6,977 | +€5,977 | +597.7% |
| Profit (loss) for the period | 9904 | €30,086 | €26,351 | -€3,736 | -12.4% |
| Profit (loss) for the period to be appropriated | 9905 | €30,086 | €26,351 | -€3,736 | -12.4% |
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 8 October 2026 via checked.be.