LEON: 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.
LEON
Largest movements
- Current investments +€267,056
up €267,056 (+43.1%), from €619,235 to €886,291
- Receivables within one year +€65,327
up €65,327 (+54.3%), from €120,310 to €185,636
- Cash +€57,158
up €57,158 (+10.8%), from €530,047 to €587,205
mainly Net result for the year (+€508,694) and Depreciation (+€33,602)
- Tangible fixed assets -€32,343
down €32,343 (-8.1%), from €397,422 to €365,079
- Deferred charges and accrued income -€26,215
down €26,215 (-9.4%), from €279,088 to €252,873
- Reserves +€329,410
up €329,410 (+21.3%), from €1.5m to €1.9m
of which Distributable reserves: +€329,410
- Debts after one year -€23,000
down €23,000 (-17.6%), from €130,333 to €107,333
- Financial income +€153,100
up €153,100 (+1995.1%), from €7,674 to €160,774
of which Non-recurring financial income: +€143,183
- Gross operating margin -€60,003
down €60,003 (-9.3%), from €646,256 to €586,253
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 | €1,946,347 | €2,277,331 | +€330,984 | +17.0% |
| Fixed assets | 21/28 | €397,667 | €365,324 | -€32,343 | -8.1% |
| Tangible fixed assets | 22/27 | €397,422 | €365,079 | -€32,343 | -8.1% |
| Land and buildings | 22 | €98,738 | €86,931 | -€11,808 | -12.0% |
| Plant, machinery and equipment | 23 | €63,792 | €58,493 | -€5,299 | -8.3% |
| Furniture and vehicles | 24 | €6,427 | €3,593 | -€2,835 | -44.1% |
| Other tangible fixed assets | 26 | €228,464 | €216,063 | -€12,401 | -5.4% |
| Financial fixed assets | 28 | €245 | €245 | = | 0.0% |
| Current assets | 29/58 | €1,548,680 | €1,912,006 | +€363,327 | +23.5% |
| Amounts receivable within one year | 40/41 | €120,310 | €185,636 | +€65,327 | +54.3% |
| Other amounts receivable | 41 | €120,310 | €185,636 | +€65,327 | +54.3% |
| Current investments | 50/53 | €619,235 | €886,291 | +€267,056 | +43.1% |
| Cash at bank and in hand | 54/58 | €530,047 | €587,205 | +€57,158 | +10.8% |
| Deferred charges and accrued income | 490/1 | €279,088 | €252,873 | -€26,215 | -9.4% |
| Total equity and liabilities | 10/49 | €1,946,347 | €2,277,331 | +€330,984 | +17.0% |
| Equity | 10/15 | €1,545,330 | €1,875,768 | +€330,438 | +21.4% |
| Contributions | 10/11 | €60 | €60 | = | 0.0% |
| Reserves | 13 | €1,545,211 | €1,874,620 | +€329,410 | +21.3% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €1,526,461 | €1,855,870 | +€329,410 | +21.6% |
| Profit (loss) carried forward | 14 | €59 | €1,087 | +€1,028 | +1735.7% |
| Amounts payable | 17/49 | €401,017 | €401,563 | +€546 | +0.1% |
| Amounts payable after more than one year | 17 | €130,333 | €107,333 | -€23,000 | -17.6% |
| Financial debts | 170/4 | €130,333 | €107,333 | -€23,000 | -17.6% |
| Amounts payable within one year | 42/48 | €270,684 | €294,230 | +€23,546 | +8.7% |
| Current portion of amounts payable after more than one year | 42 | €23,000 | €23,000 | = | 0.0% |
| Trade debts | 44 | €6,810 | €8,600 | +€1,791 | +26.3% |
| Suppliers | 440/4 | €6,810 | €8,600 | +€1,791 | +26.3% |
| Taxes, remuneration and social security | 45 | €82,700 | €84,374 | +€1,674 | +2.0% |
| Taxes | 450/3 | €82,700 | €84,374 | +€1,674 | +2.0% |
| Other amounts payable | 47/48 | €158,175 | €178,256 | +€20,082 | +12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,416 | €33,602 | -€4,815 | -12.5% |
| Other operating charges | 640/8 | €5,915 | €5,036 | -€879 | -14.9% |
| Gross operating margin | 9900 | €646,256 | €586,253 | -€60,003 | -9.3% |
| Operating profit (loss) | 9901 | €601,925 | €547,615 | -€54,310 | -9.0% |
| Financial income | 75/76B | €7,674 | €160,774 | +€153,100 | +1995.1% |
| Recurring financial income | 75 | €7,674 | €17,590 | +€9,917 | +129.2% |
| Non-recurring financial income | 76B | - | €143,183 | +€143,183 | |
| Financial charges | 65/66B | €7,737 | €7,395 | -€342 | -4.4% |
| Recurring financial charges | 65 | €7,737 | €7,395 | -€342 | -4.4% |
| Profit (loss) for the period before taxes | 9903 | €601,861 | €700,994 | +€99,133 | +16.5% |
| Income taxes | 67/77 | €195,136 | €192,300 | -€2,836 | -1.5% |
| Profit (loss) for the period | 9904 | €406,725 | €508,694 | +€101,969 | +25.1% |
| Profit (loss) for the period to be appropriated | 9905 | €406,725 | €508,694 | +€101,969 | +25.1% |
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 9 October 2026 via checked.be.