LEONARD - DELEUZE: 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.
LEONARD - DELEUZE
Largest movements
- Current investments -€105,000
down €105,000 (-89.0%), from €118,000 to €13,000
- Receivables within one year +€83,081
up €83,081 (+604%), from €13,751 to €96,832
of which Other amounts receivable: +€87,122
- Cash +€5,728
up €5,728 (+53.0%), from €10,807 to €16,534
mainly Current investments (+€105,000) and Net result for the year (+€50,208)
- Reserves +€50,208
up €50,208 (+46.0%), from €109,217 to €159,425
of which Distributable reserves: +€50,208
- Other debts -€45,261
down €45,261 (-86.1%), from €52,548 to €7,287
- Debts after one year -€10,000
down €10,000 (-38.7%), from €25,833 to €15,833
- Trade debts -€6,732
down €6,732 (-97.1%), from €6,937 to €204
- Gross operating margin +€34,251
up €34,251 (+31.4%), from €108,963 to €143,214
- Financial charges +€13,407
up €13,407 (+42.1%), from €31,870 to €45,277
- Staff costs +€8,602
new in 2025: €8,602
- Taxes +€2,099
up €2,099 (+10.9%), from €19,204 to €21,303
- Depreciation +€1,874
up €1,874 (+15.6%), from €12,007 to €13,880
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 | €253,360 | €240,487 | -€12,873 | -5.1% |
| Fixed assets | 21/28 | €96,172 | €98,678 | +€2,506 | +2.6% |
| Tangible fixed assets | 22/27 | €96,172 | €98,678 | +€2,506 | +2.6% |
| Land and buildings | 22 | €49,166 | €56,342 | +€7,176 | +14.6% |
| Plant, machinery and equipment | 23 | €29,237 | €28,637 | -€600 | -2.1% |
| Furniture and vehicles | 24 | €17,768 | €13,699 | -€4,069 | -22.9% |
| Current assets | 29/58 | €157,188 | €141,809 | -€15,379 | -9.8% |
| Stocks and contracts in progress | 3 | €12,169 | €11,745 | -€424 | -3.5% |
| Stocks | 30/36 | €12,169 | €11,745 | -€424 | -3.5% |
| Amounts receivable within one year | 40/41 | €13,751 | €96,832 | +€83,081 | +604% |
| Trade receivables | 40 | €13,751 | €9,710 | -€4,041 | -29.4% |
| Other amounts receivable | 41 | - | €87,122 | +€87,122 | |
| Current investments | 50/53 | €118,000 | €13,000 | -€105,000 | -89.0% |
| Cash at bank and in hand | 54/58 | €10,807 | €16,534 | +€5,728 | +53.0% |
| Deferred charges and accrued income | 490/1 | €2,461 | €3,697 | +€1,236 | +50.2% |
| Total equity and liabilities | 10/49 | €253,360 | €240,487 | -€12,873 | -5.1% |
| Equity | 10/15 | €141,444 | €191,651 | +€50,208 | +35.5% |
| Contributions | 10/11 | €32,226 | €32,226 | = | 0.0% |
| Reserves | 13 | €109,217 | €159,425 | +€50,208 | +46.0% |
| Non-distributable reserves | 130/1 | €3,226 | €3,226 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,226 | €3,226 | = | 0.0% |
| Tax-exempt reserves | 132 | €32,842 | €32,842 | = | 0.0% |
| Distributable reserves | 133 | €73,150 | €123,357 | +€50,208 | +68.6% |
| Amounts payable | 17/49 | €111,916 | €48,836 | -€63,080 | -56.4% |
| Amounts payable after more than one year | 17 | €25,833 | €15,833 | -€10,000 | -38.7% |
| Financial debts | 170/4 | €25,833 | €15,833 | -€10,000 | -38.7% |
| Amounts payable within one year | 42/48 | €85,923 | €33,003 | -€52,920 | -61.6% |
| Current portion of amounts payable after more than one year | 42 | €10,000 | €10,000 | = | 0.0% |
| Trade debts | 44 | €6,937 | €204 | -€6,732 | -97.1% |
| Suppliers | 440/4 | €6,937 | €204 | -€6,732 | -97.1% |
| Taxes, remuneration and social security | 45 | €16,438 | €15,511 | -€927 | -5.6% |
| Taxes | 450/3 | €16,438 | €12,222 | -€4,217 | -25.7% |
| Remuneration and social security | 454/9 | - | €3,289 | +€3,289 | |
| Other amounts payable | 47/48 | €52,548 | €7,287 | -€45,261 | -86.1% |
| Accrued charges and deferred income | 492/3 | €160 | - | -€160 | |
| Non-recurring operating income | 76A | €10 | - | -€10 | |
| Remuneration, social security and pensions | 62 | - | €8,602 | +€8,602 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,007 | €13,880 | +€1,874 | +15.6% |
| Other operating charges | 640/8 | €5,878 | €5,685 | -€193 | -3.3% |
| Gross operating margin | 9900 | €108,963 | €143,214 | +€34,251 | +31.4% |
| Operating profit (loss) | 9901 | €91,078 | €115,046 | +€23,968 | +26.3% |
| Financial income | 75/76B | €636 | €1,741 | +€1,106 | +174% |
| Recurring financial income | 75 | €636 | €1,741 | +€1,106 | +174% |
| Financial charges | 65/66B | €31,870 | €45,277 | +€13,407 | +42.1% |
| Recurring financial charges | 65 | €31,870 | €45,277 | +€13,407 | +42.1% |
| Profit (loss) for the period before taxes | 9903 | €59,844 | €71,510 | +€11,667 | +19.5% |
| Income taxes | 67/77 | €19,204 | €21,303 | +€2,099 | +10.9% |
| Profit (loss) for the period | 9904 | €40,640 | €50,208 | +€9,568 | +23.5% |
| Profit (loss) for the period to be appropriated | 9905 | €40,640 | €50,208 | +€9,568 | +23.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.