LEON CAELEN: 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 CAELEN
Largest movements
- Current investments +€50,000
up €50,000 (+100%), from €50,000 to €100,000
- Cash -€18,592
down €18,592 (-11.9%), from €156,344 to €137,752
mainly Current investments (-€50,000) and Receivables within one year (-€3,124)
- Tangible fixed assets -€6,557
down €6,557 (-70.7%), from €9,270 to €2,713
- Reserves +€26,974
up €26,974 (+10.2%), from €264,837 to €291,812
- Gross operating margin +€8,921
up €8,921 (+27.5%), from €32,459 to €41,380
- Taxes +€2,643
up €2,643 (+29.7%), from €8,895 to €11,538
- Financial income +€1,305
up €1,305 (+32.1%), from €4,072 to €5,377
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €293,454 | €321,429 | +€27,975 | +9.5% |
| Fixed assets | 21/28 | €9,270 | €2,713 | -€6,557 | -70.7% |
| Tangible fixed assets | 22/27 | €9,270 | €2,713 | -€6,557 | -70.7% |
| Furniture and vehicles | 24 | €9,270 | €2,713 | -€6,557 | -70.7% |
| Current assets | 29/58 | €284,185 | €318,717 | +€34,532 | +12.2% |
| Amounts receivable within one year | 40/41 | €77,841 | €80,965 | +€3,124 | +4.0% |
| Trade receivables | 40 | €6,903 | €6,613 | -€289 | -4.2% |
| Other amounts receivable | 41 | €70,938 | €74,351 | +€3,413 | +4.8% |
| Current investments | 50/53 | €50,000 | €100,000 | +€50,000 | +100% |
| Cash at bank and in hand | 54/58 | €156,344 | €137,752 | -€18,592 | -11.9% |
| Total equity and liabilities | 10/49 | €293,454 | €321,429 | +€27,975 | +9.5% |
| Equity | 10/15 | €283,437 | €310,412 | +€26,974 | +9.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €264,837 | €291,812 | +€26,974 | +10.2% |
| Distributable reserves | 133 | €264,837 | €291,812 | +€26,974 | +10.2% |
| Amounts payable | 17/49 | €10,017 | €11,018 | +€1,001 | +10.0% |
| Amounts payable within one year | 42/48 | €10,017 | €11,018 | +€1,001 | +10.0% |
| Trade debts | 44 | €320 | €215 | -€105 | -32.8% |
| Suppliers | 440/4 | €320 | €215 | -€105 | -32.8% |
| Taxes, remuneration and social security | 45 | €9,696 | €10,802 | +€1,106 | +11.4% |
| Taxes | 450/3 | €9,696 | €10,802 | +€1,106 | +11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,557 | €6,557 | = | 0.0% |
| Other operating charges | 640/8 | €1,626 | €1,649 | +€24 | +1.5% |
| Gross operating margin | 9900 | €32,459 | €41,380 | +€8,921 | +27.5% |
| Operating profit (loss) | 9901 | €24,276 | €33,174 | +€8,898 | +36.7% |
| Financial income | 75/76B | €4,072 | €5,377 | +€1,305 | +32.1% |
| Recurring financial income | 75 | €4,072 | €5,377 | +€1,305 | +32.1% |
| Financial charges | 65/66B | €38 | €38 | -€0 | 0.0% |
| Recurring financial charges | 65 | €38 | €38 | -€0 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €28,309 | €38,512 | +€10,203 | +36.0% |
| Income taxes | 67/77 | €8,895 | €11,538 | +€2,643 | +29.7% |
| Profit (loss) for the period | 9904 | €19,415 | €26,974 | +€7,560 | +38.9% |
| Profit (loss) for the period to be appropriated | 9905 | €19,415 | €26,974 | +€7,560 | +38.9% |
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 24 October 2026 via checked.be.