Leonart: what changed
Two fiscal 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.
Leonart
Largest movements
- Stocks and contracts +€50,329
up €50,329 (+17.0%), from €295,483 to €345,812
- Cash +€21,904
up €21,904 (+68.2%), from €32,101 to €54,005
mainly Net result for the year (+€31,890) and Advances received (+€29,943)
- Tangible fixed assets -€6,946
down €6,946 (-25.1%), from €27,678 to €20,732
of which Furniture and vehicles: -€6,475
- Reserves +€31,890
up €31,890 (+12.9%), from €246,643 to €278,533
of which Distributable reserves: +€31,890
- Advances received +€29,943
up €29,943, from €0 to €29,943
- Current portion of long-term debt +€5,061
new in 2025: €5,061
- Gross operating margin +€8,045
up €8,045 (+14.3%), from €56,219 to €64,264
- Depreciation -€1,314
down €1,314 (-9.4%), from €13,988 to €12,674
- Other operating charges +€1,101
up €1,101 (+56.8%), from €1,939 to €3,040
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 | €359,610 | €422,941 | +€63,330 | +17.6% |
| Fixed assets | 21/28 | €27,678 | €20,732 | -€6,946 | -25.1% |
| Tangible fixed assets | 22/27 | €27,678 | €20,732 | -€6,946 | -25.1% |
| Plant, machinery and equipment | 23 | €3,648 | €706 | -€2,942 | -80.7% |
| Furniture and vehicles | 24 | €12,646 | €6,171 | -€6,475 | -51.2% |
| Other tangible fixed assets | 26 | €11,384 | €13,856 | +€2,472 | +21.7% |
| Current assets | 29/58 | €331,932 | €402,209 | +€70,276 | +21.2% |
| Stocks and contracts in progress | 3 | €295,483 | €345,812 | +€50,329 | +17.0% |
| Stocks | 30/36 | €295,483 | €345,812 | +€50,329 | +17.0% |
| Amounts receivable within one year | 40/41 | €455 | €240 | -€214 | -47.1% |
| Trade receivables | 40 | €349 | €0 | -€349 | -100.0% |
| Other amounts receivable | 41 | €106 | €240 | +€135 | +127.3% |
| Cash at bank and in hand | 54/58 | €32,101 | €54,005 | +€21,904 | +68.2% |
| Deferred charges and accrued income | 490/1 | €3,893 | €2,151 | -€1,742 | -44.7% |
| Total equity and liabilities | 10/49 | €359,610 | €422,941 | +€63,330 | +17.6% |
| Equity | 10/15 | €247,643 | €279,533 | +€31,890 | +12.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €246,643 | €278,533 | +€31,890 | +12.9% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €100 | €100 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,000 | €16,000 | = | 0.0% |
| Distributable reserves | 133 | €230,543 | €262,433 | +€31,890 | +13.8% |
| Amounts payable | 17/49 | €111,967 | €143,408 | +€31,441 | +28.1% |
| Amounts payable after more than one year | 17 | €39,500 | €37,500 | -€2,000 | -5.1% |
| Other amounts payable | 178/9 | €39,500 | €37,500 | -€2,000 | -5.1% |
| Amounts payable within one year | 42/48 | €72,467 | €105,908 | +€33,441 | +46.1% |
| Current portion of amounts payable after more than one year | 42 | - | €5,061 | +€5,061 | |
| Financial debts | 43 | €49 | €0 | -€49 | -100.0% |
| Credit institutions | 430/8 | €49 | €0 | -€49 | -100.0% |
| Trade debts | 44 | €43,893 | €44,536 | +€643 | +1.5% |
| Suppliers | 440/4 | €43,893 | €44,536 | +€643 | +1.5% |
| Advances received on contracts in progress | 46 | €0 | €29,943 | +€29,943 | |
| Taxes, remuneration and social security | 45 | €14,655 | €16,582 | +€1,927 | +13.1% |
| Taxes | 450/3 | €14,655 | €16,582 | +€1,927 | +13.1% |
| Other amounts payable | 47/48 | €13,870 | €9,786 | -€4,084 | -29.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,988 | €12,674 | -€1,314 | -9.4% |
| Other operating charges | 640/8 | €1,939 | €3,040 | +€1,101 | +56.8% |
| Gross operating margin | 9900 | €56,219 | €64,264 | +€8,045 | +14.3% |
| Operating profit (loss) | 9901 | €40,292 | €48,550 | +€8,258 | +20.5% |
| Financial income | 75/76B | €1,132 | €547 | -€585 | -51.7% |
| Recurring financial income | 75 | €1,132 | €547 | -€585 | -51.7% |
| Financial charges | 65/66B | €1,718 | €1,967 | +€250 | +14.5% |
| Recurring financial charges | 65 | €1,718 | €1,967 | +€250 | +14.5% |
| Profit (loss) for the period before taxes | 9903 | €39,706 | €47,129 | +€7,424 | +18.7% |
| Income taxes | 67/77 | €15,853 | €15,239 | -€614 | -3.9% |
| Profit (loss) for the period | 9904 | €23,853 | €31,890 | +€8,037 | +33.7% |
| Profit (loss) for the period to be appropriated | 9905 | €23,853 | €31,890 | +€8,037 | +33.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.