LEONHOR CONCEPT: 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.
LEONHOR CONCEPT
Largest movements
- Receivables within one year -€34,198
down €34,198 (-57.8%), from €59,196 to €24,997
of which Trade receivables: -€39,708
- Tangible fixed assets -€30,225
down €30,225 (-34.8%), from €86,918 to €56,693
of which Plant, machinery and equipment: -€22,634
- Cash -€24,529
down €24,529 (-69.6%), from €35,240 to €10,711
mainly Trade debts (-€64,638) and Debts after one year (-€22,611)
- Deferred charges and accrued income -€2,046
down €2,046 (-48.5%), from €4,222 to €2,176
- Trade debts -€64,638
down €64,638 (-67.8%), from €95,293 to €30,656
- Debts after one year -€22,611
no longer reported in 2025 (was €22,611)
- Current portion of long-term debt -€16,718
down €16,718 (-42.5%), from €39,329 to €22,611
- Reserves +€13,400
up €13,400 (+211.8%), from €6,326 to €19,726
of which Distributable reserves: +€13,400
- Other debts +€4,496
up €4,496 (+24.1%), from €18,627 to €23,123
- Other operating charges -€176,166
down €176,166 (-98.3%), from €179,188 to €3,022
- Gross operating margin -€155,582
down €155,582 (-70.0%), from €222,145 to €66,564
- Taxes +€4,342
up €4,342 (+180.6%), from €2,404 to €6,746
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 | €185,576 | €94,577 | -€90,999 | -49.0% |
| Fixed assets | 21/28 | €86,918 | €56,693 | -€30,225 | -34.8% |
| Tangible fixed assets | 22/27 | €86,918 | €56,693 | -€30,225 | -34.8% |
| Land and buildings | 22 | €55,513 | €45,410 | -€10,103 | -18.2% |
| Plant, machinery and equipment | 23 | €30,514 | €7,880 | -€22,634 | -74.2% |
| Furniture and vehicles | 24 | €892 | €3,403 | +€2,511 | +281.6% |
| Current assets | 29/58 | €98,658 | €37,884 | -€60,774 | -61.6% |
| Amounts receivable within one year | 40/41 | €59,196 | €24,997 | -€34,198 | -57.8% |
| Trade receivables | 40 | €57,513 | €17,805 | -€39,708 | -69.0% |
| Other amounts receivable | 41 | €1,683 | €7,193 | +€5,509 | +327.3% |
| Cash at bank and in hand | 54/58 | €35,240 | €10,711 | -€24,529 | -69.6% |
| Deferred charges and accrued income | 490/1 | €4,222 | €2,176 | -€2,046 | -48.5% |
| Total equity and liabilities | 10/49 | €185,576 | €94,577 | -€90,999 | -49.0% |
| Equity | 10/15 | €3,220 | €15,892 | +€12,672 | +393.5% |
| Contributions | 10/11 | €5,313 | €5,313 | = | 0.0% |
| Reserves | 13 | €6,326 | €19,726 | +€13,400 | +211.8% |
| Tax-exempt reserves | 132 | €3,917 | €3,917 | = | 0.0% |
| Distributable reserves | 133 | €2,409 | €15,809 | +€13,400 | +556.3% |
| Profit (loss) carried forward | 14 | -€10,016 | -€9,945 | +€71 | +0.7% |
| Investment grants | 15 | €1,597 | €799 | -€799 | -50.0% |
| Provisions and deferred taxes | 16 | €532 | €266 | -€266 | -50.0% |
| Deferred taxes | 168 | €532 | €266 | -€266 | -50.0% |
| Amounts payable | 17/49 | €181,823 | €78,419 | -€103,405 | -56.9% |
| Amounts payable after more than one year | 17 | €22,611 | - | -€22,611 | |
| Financial debts | 170/4 | €22,611 | - | -€22,611 | |
| Amounts payable within one year | 42/48 | €159,212 | €78,419 | -€80,794 | -50.7% |
| Current portion of amounts payable after more than one year | 42 | €39,329 | €22,611 | -€16,718 | -42.5% |
| Trade debts | 44 | €95,293 | €30,656 | -€64,638 | -67.8% |
| Suppliers | 440/4 | €95,293 | €30,656 | -€64,638 | -67.8% |
| Taxes, remuneration and social security | 45 | €5,963 | €2,029 | -€3,934 | -66.0% |
| Taxes | 450/3 | €5,963 | €2,029 | -€3,934 | -66.0% |
| Other amounts payable | 47/48 | €18,627 | €23,123 | +€4,496 | +24.1% |
| Non-recurring operating income | 76A | €1,814 | €7,894 | +€6,080 | +335.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,242 | €34,059 | -€183 | -0.5% |
| Other operating charges | 640/8 | €179,188 | €3,022 | -€176,166 | -98.3% |
| Non-recurring operating charges | 66A | €2,096 | €8,036 | +€5,941 | +283.5% |
| Gross operating margin | 9900 | €222,145 | €66,564 | -€155,582 | -70.0% |
| Operating profit (loss) | 9901 | €6,620 | €21,446 | +€14,826 | +224.0% |
| Financial income | 75/76B | €799 | €799 | = | 0.0% |
| Recurring financial income | 75 | €799 | €799 | = | 0.0% |
| Financial charges | 65/66B | €3,761 | €2,294 | -€1,467 | -39.0% |
| Recurring financial charges | 65 | €3,761 | €2,294 | -€1,467 | -39.0% |
| Profit (loss) for the period before taxes | 9903 | €3,657 | €19,950 | +€16,293 | +445.5% |
| Transfer from deferred taxes | 780 | €266 | €266 | = | 0.0% |
| Income taxes | 67/77 | €2,404 | €6,746 | +€4,342 | +180.6% |
| Profit (loss) for the period | 9904 | €1,519 | €13,471 | +€11,952 | +786.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,519 | €13,471 | +€11,952 | +786.7% |
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 10 October 2026 via checked.be.