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
- Receivables within one year -€154,396
down €154,396 (-76.9%), from €200,816 to €46,420
of which Other amounts receivable: -€130,369
- Cash -€26,579
down €26,579 (-70.9%), from €37,509 to €10,930
mainly Other debts (-€99,505) and Net result for the year (-€52,951)
- Deferred charges and accrued income +€8,024
up €8,024 (+281.4%), from €2,851 to €10,875
- Other debts -€99,505
down €99,505 (-85.6%), from €116,233 to €16,729
- Profit (loss) carried forward -€52,951
new in 2025: -€52,951
- Reserves -€16,729
down €16,729 (-6.3%), from €264,538 to €247,809
- Tax, wage and social debts -€7,978
down €7,978 (-44.0%), from €18,115 to €10,137
- Gross operating margin -€80,283
down €80,283, from €26,306 to -€53,977
- Taxes -€11,160
down €11,160 (-97.1%), from €11,499 to €339
- Other operating charges +€1,176
up €1,176 (+108.0%), from €1,088 to €2,264
- Financial income +€952
up €952 (+16.9%), from €5,634 to €6,586
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 | €519,311 | €344,926 | -€174,384 | -33.6% |
| Fixed assets | 21/28 | €4,466 | €3,033 | -€1,433 | -32.1% |
| Tangible fixed assets | 22/27 | €4,466 | €3,033 | -€1,433 | -32.1% |
| Plant, machinery and equipment | 23 | €2,851 | €1,972 | -€879 | -30.8% |
| Other tangible fixed assets | 26 | €1,614 | €1,060 | -€554 | -34.3% |
| Current assets | 29/58 | €514,845 | €341,894 | -€172,951 | -33.6% |
| Amounts receivable within one year | 40/41 | €200,816 | €46,420 | -€154,396 | -76.9% |
| Trade receivables | 40 | €45,262 | €21,236 | -€24,027 | -53.1% |
| Other amounts receivable | 41 | €155,554 | €25,185 | -€130,369 | -83.8% |
| Current investments | 50/53 | €273,668 | €273,668 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €37,509 | €10,930 | -€26,579 | -70.9% |
| Deferred charges and accrued income | 490/1 | €2,851 | €10,875 | +€8,024 | +281.4% |
| Total equity and liabilities | 10/49 | €519,311 | €344,926 | -€174,384 | -33.6% |
| Equity | 10/15 | €383,758 | €314,078 | -€69,680 | -18.2% |
| Contributions | 10/11 | €119,220 | €119,220 | = | 0.0% |
| Reserves | 13 | €264,538 | €247,809 | -€16,729 | -6.3% |
| Distributable reserves | 133 | €264,538 | €247,809 | -€16,729 | -6.3% |
| Profit (loss) carried forward | 14 | - | -€52,951 | -€52,951 | |
| Amounts payable | 17/49 | €135,553 | €30,848 | -€104,705 | -77.2% |
| Amounts payable within one year | 42/48 | €135,553 | €29,848 | -€105,705 | -78.0% |
| Trade debts | 44 | €1,204 | €2,981 | +€1,777 | +147.6% |
| Suppliers | 440/4 | €1,204 | €2,981 | +€1,777 | +147.6% |
| Taxes, remuneration and social security | 45 | €18,115 | €10,137 | -€7,978 | -44.0% |
| Taxes | 450/3 | €18,115 | €10,137 | -€7,978 | -44.0% |
| Other amounts payable | 47/48 | €116,233 | €16,729 | -€99,505 | -85.6% |
| Accrued charges and deferred income | 492/3 | - | €1,001 | +€1,001 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,433 | €1,433 | = | 0.0% |
| Other operating charges | 640/8 | €1,088 | €2,264 | +€1,176 | +108.0% |
| Gross operating margin | 9900 | €26,306 | -€53,977 | -€80,283 | |
| Operating profit (loss) | 9901 | €23,785 | -€57,674 | -€81,459 | |
| Financial income | 75/76B | €5,634 | €6,586 | +€952 | +16.9% |
| Recurring financial income | 75 | €5,634 | €6,586 | +€952 | +16.9% |
| Financial charges | 65/66B | €1,950 | €1,525 | -€425 | -21.8% |
| Recurring financial charges | 65 | €1,950 | €1,525 | -€425 | -21.8% |
| Profit (loss) for the period before taxes | 9903 | €27,469 | -€52,612 | -€80,081 | |
| Income taxes | 67/77 | €11,499 | €339 | -€11,160 | -97.1% |
| Profit (loss) for the period | 9904 | €15,970 | -€52,951 | -€68,921 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,970 | -€52,951 | -€68,921 |
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.