LEODEL: 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.
What changed
LEODEL
NACE 46.423, Wholesale of clothing, excluding workwear and underwear
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€32,882
2024 · €30,397+€2,485
Equity
€254,261
2024 · €239,379+€14,882
Cash
€169,475
2024 · €179,345-€9,870
Balance sheet total
€373,223
2024 · €352,898+€20,326
Largest movements
Assets
- Stocks and contracts +€28,900
up €28,900 (+26.6%), from €108,469 to €137,370
- Cash -€9,870
down €9,870 (-5.5%), from €179,345 to €169,475
mainly Stocks and contracts (-€28,900) and Contributions, distributions and other (-€18,000)
Equity and liabilities
- Reserves +€14,000
up €14,000 (+6.4%), from €219,860 to €233,860
- Short-term financial debts +€11,062
up €11,062 (+847%), from €1,306 to €12,368
- Tax, wage and social debts -€4,034
down €4,034 (-10.3%), from €39,334 to €35,300
of which Taxes: -€8,517
Income statement
- Gross operating margin +€29,068
up €29,068 (+17.3%), from €168,479 to €197,546
- Staff costs +€22,769
up €22,769 (+20.8%), from €109,206 to €131,975
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.
Result 2024
€30,397
Gross operating margin
+€29,068
Staff costs
-€22,769
Depreciation
-€1,936
Other operating charges
+€538
Financial income
-€1,517
Financial charges
-€587
Taxes
-€311
Result 2025
€32,882
raises the resultlowers the result
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.
From operations
+€7,638
Investment
-€11,714
Financing
-€5,793
Cash 2024
€179,345
From operations (derived)
+€7,638
Net result for the year
+€32,882
Depreciation
+€13,254
Stocks and contracts
-€28,900
Receivables within one year
-€1,570
Deferred charges and accrued income
-€1,265
Trade debts
-€550
Tax, wage and social debts
-€4,034
Other debts
-€2,180
Investment (derived)
-€11,714
Investment in fixed assets (net)
-€11,714
Financing
-€5,793
Debts after one year
+€392
Current portion of long-term debt
+€753
Short-term financial debts
+€11,062
Contributions, distributions and other
-€18,000
Cash 2025
€169,475
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €352,898 | €373,223 | +€20,326 | +5.8% |
| Fixed assets | 21/28 | €47,813 | €46,274 | -€1,539 | -3.2% |
| Tangible fixed assets | 22/27 | €47,813 | €46,274 | -€1,539 | -3.2% |
| Plant, machinery and equipment | 23 | €22,053 | €28,425 | +€6,372 | +28.9% |
| Furniture and vehicles | 24 | €2,748 | €2,788 | +€40 | +1.4% |
| Other tangible fixed assets | 26 | €23,012 | €15,061 | -€7,951 | -34.6% |
| Current assets | 29/58 | €305,085 | €326,950 | +€21,865 | +7.2% |
| Stocks and contracts in progress | 3 | €108,469 | €137,370 | +€28,900 | +26.6% |
| Stocks | 30/36 | €108,469 | €137,370 | +€28,900 | +26.6% |
| Amounts receivable within one year | 40/41 | €17,073 | €18,643 | +€1,570 | +9.2% |
| Trade receivables | 40 | €17,073 | €18,643 | +€1,570 | +9.2% |
| Cash at bank and in hand | 54/58 | €179,345 | €169,475 | -€9,870 | -5.5% |
| Deferred charges and accrued income | 490/1 | €197 | €1,462 | +€1,265 | +641% |
| Total equity and liabilities | 10/49 | €352,898 | €373,223 | +€20,326 | +5.8% |
| Equity | 10/15 | €239,379 | €254,261 | +€14,882 | +6.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €219,860 | €233,860 | +€14,000 | +6.4% |
| Distributable reserves | 133 | €219,860 | €233,860 | +€14,000 | +6.4% |
| Profit (loss) carried forward | 14 | €919 | €1,801 | +€882 | +96.0% |
| Amounts payable | 17/49 | €113,519 | €118,963 | +€5,444 | +4.8% |
| Amounts payable after more than one year | 17 | €17,642 | €18,034 | +€392 | +2.2% |
| Financial debts | 170/4 | €17,642 | €18,034 | +€392 | +2.2% |
| Amounts payable within one year | 42/48 | €94,527 | €99,579 | +€5,052 | +5.3% |
| Current portion of amounts payable after more than one year | 42 | €7,805 | €8,558 | +€753 | +9.6% |
| Financial debts | 43 | €1,306 | €12,368 | +€11,062 | +847% |
| Credit institutions | 430/8 | €1,306 | €12,368 | +€11,062 | +847% |
| Trade debts | 44 | €25,505 | €24,956 | -€550 | -2.2% |
| Suppliers | 440/4 | €25,505 | €24,956 | -€550 | -2.2% |
| Taxes, remuneration and social security | 45 | €39,334 | €35,300 | -€4,034 | -10.3% |
| Taxes | 450/3 | €25,744 | €17,227 | -€8,517 | -33.1% |
| Remuneration and social security | 454/9 | €13,590 | €18,073 | +€4,483 | +33.0% |
| Other amounts payable | 47/48 | €20,577 | €18,397 | -€2,180 | -10.6% |
| Accrued charges and deferred income | 492/3 | €1,350 | €1,350 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €109,206 | €131,975 | +€22,769 | +20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,318 | €13,254 | +€1,936 | +17.1% |
| Other operating charges | 640/8 | €2,527 | €1,989 | -€538 | -21.3% |
| Gross operating margin | 9900 | €168,479 | €197,546 | +€29,068 | +17.3% |
| Operating profit (loss) | 9901 | €45,427 | €50,328 | +€4,901 | +10.8% |
| Financial income | 75/76B | €4,475 | €2,958 | -€1,517 | -33.9% |
| Recurring financial income | 75 | €4,475 | €2,958 | -€1,517 | -33.9% |
| Financial charges | 65/66B | €2,621 | €3,208 | +€587 | +22.4% |
| Recurring financial charges | 65 | €2,621 | €3,208 | +€587 | +22.4% |
| Profit (loss) for the period before taxes | 9903 | €47,282 | €50,078 | +€2,796 | +5.9% |
| Income taxes | 67/77 | €16,885 | €17,196 | +€311 | +1.8% |
| Profit (loss) for the period | 9904 | €30,397 | €32,882 | +€2,485 | +8.2% |
| Profit (loss) for the period to be appropriated | 9905 | €30,397 | €32,882 | +€2,485 | +8.2% |
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.