Leohold: what changed
What changed
Leohold
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€551,851
2025 · €1.2m-€636,237
Equity
€2.6m
2025 · €2.5m+€79,902
Cash
€282,598
2025 · €268,715+€13,883
Balance sheet total
€2.9m
2025 · €2.7m+€192,425
Largest movements
Assets
- Current investments +€500,000
up €500,000, from €0 to €500,000
- Tangible fixed assets -€282,118
down €282,118 (-100%), from €282,118 to €0
of which Land and buildings: -€282,118
- Receivables within one year -€39,771
down €39,771 (-27.5%), from €144,570 to €104,799
of which Other amounts receivable: -€40,000
Equity and liabilities
- Other debts +€146,816
up €146,816 (+176%), from €83,184 to €230,000
- Reserves +€79,902
up €79,902 (+3.3%), from €2.5m to €2.5m
- Debts after one year -€32,035
down €32,035 (-100%), from €32,035 to €0
Income statement
- Financial income -€846,341
down €846,341 (-70.7%), from €1.2m to €350,580
- Gross operating margin +€182,267
up €182,267 (+142%), from €128,092 to €310,359
- Taxes -€12,750
down €12,750 (-10.7%), from €118,997 to €106,247
- Depreciation -€8,233
down €8,233 (-100%), from €8,233 to €0
- Financial charges -€5,853
down €5,853 (-87.8%), from €6,663 to €810
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€1.2m
Gross operating margin
+€182,267
Depreciation
+€8,233
Other operating charges
+€363
Other operating items
+€637
Financial income
-€846,341
Financial charges
+€5,853
Taxes
+€12,750
Result 2026
€551,851
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€746,744
Investment
-€217,882
Financing
-€514,979
Cash 2025
€268,715
From operations (derived)
+€746,744
Net result for the year
+€551,851
Receivables within one year
+€39,771
Smaller working-capital items
-€808
Tax, wage and social debts
+€6,551
Other debts
+€146,816
Accrued charges and deferred income
+€2,562
Investment (derived)
-€217,882
Investment in fixed assets (net)
+€282,118
Current investments
-€500,000
Financing
-€514,979
Debts after one year
-€32,035
Current portion of long-term debt
-€10,996
Contributions, distributions and other
-€471,948
Cash 2026
€282,598
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,694,138 | €2,886,563 | +€192,425 | +7.1% |
| Fixed assets | 21/28 | €2,279,968 | €1,997,850 | -€282,118 | -12.4% |
| Tangible fixed assets | 22/27 | €282,118 | €0 | -€282,118 | -100% |
| Land and buildings | 22 | €282,118 | €0 | -€282,118 | -100% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €1,997,850 | €1,997,850 | = | 0.0% |
| Current assets | 29/58 | €414,170 | €888,713 | +€474,543 | +115% |
| Amounts receivable within one year | 40/41 | €144,570 | €104,799 | -€39,771 | -27.5% |
| Trade receivables | 40 | €104,570 | €104,799 | +€229 | +0.2% |
| Other amounts receivable | 41 | €40,000 | €0 | -€40,000 | -100% |
| Current investments | 50/53 | €0 | €500,000 | +€500,000 | |
| Cash at bank and in hand | 54/58 | €268,715 | €282,598 | +€13,883 | +5.2% |
| Deferred charges and accrued income | 490/1 | €884 | €1,316 | +€432 | +48.8% |
| Total equity and liabilities | 10/49 | €2,694,138 | €2,886,563 | +€192,425 | +7.1% |
| Equity | 10/15 | €2,475,122 | €2,555,025 | +€79,902 | +3.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,455,122 | €2,535,025 | +€79,902 | +3.3% |
| Distributable reserves | 133 | €2,455,122 | €2,535,025 | +€79,902 | +3.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €219,016 | €331,538 | +€112,523 | +51.4% |
| Amounts payable after more than one year | 17 | €32,035 | €0 | -€32,035 | -100% |
| Financial debts | 170/4 | €32,035 | €0 | -€32,035 | -100% |
| Amounts payable within one year | 42/48 | €186,980 | €328,976 | +€141,995 | +75.9% |
| Current portion of amounts payable after more than one year | 42 | €10,996 | €0 | -€10,996 | -100% |
| Trade debts | 44 | €12,736 | €12,360 | -€376 | -3.0% |
| Suppliers | 440/4 | €12,736 | €12,360 | -€376 | -3.0% |
| Taxes, remuneration and social security | 45 | €80,065 | €86,616 | +€6,551 | +8.2% |
| Taxes | 450/3 | €80,065 | €86,616 | +€6,551 | +8.2% |
| Other amounts payable | 47/48 | €83,184 | €230,000 | +€146,816 | +176% |
| Accrued charges and deferred income | 492/3 | €0 | €2,562 | +€2,562 | |
| Non-recurring operating income | 76A | €4,026 | €198,032 | +€194,006 | +4,819% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,233 | €0 | -€8,233 | -100% |
| Other operating charges | 640/8 | €2,394 | €2,031 | -€363 | -15.2% |
| Non-recurring operating charges | 66A | €637 | €0 | -€637 | -100% |
| Gross operating margin | 9900 | €128,092 | €310,359 | +€182,267 | +142% |
| Operating profit (loss) | 9901 | €116,827 | €308,327 | +€191,501 | +164% |
| Financial income | 75/76B | €1,196,921 | €350,580 | -€846,341 | -70.7% |
| Recurring financial income | 75 | €1,196,921 | €350,580 | -€846,341 | -70.7% |
| Financial charges | 65/66B | €6,663 | €810 | -€5,853 | -87.8% |
| Recurring financial charges | 65 | €6,663 | €810 | -€5,853 | -87.8% |
| Profit (loss) for the period before taxes | 9903 | €1,307,085 | €658,098 | -€648,988 | -49.7% |
| Income taxes | 67/77 | €118,997 | €106,247 | -€12,750 | -10.7% |
| Profit (loss) for the period | 9904 | €1,188,088 | €551,851 | -€636,237 | -53.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,188,088 | €551,851 | -€636,237 | -53.6% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.