LEONORE: what changed
What changed
LEONORE
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€71,344
2024 · €53,562+€17,783
Equity
€771,876
2024 · €701,391+€70,485
Cash
€34,329
2024 · €37,206-€2,877
Balance sheet total
€1.3m
2024 · €1.3m-€29,970
Largest movements
Assets
- Tangible fixed assets -€23,983
down €23,983 (-6.5%), from €367,002 to €343,019
of which Furniture and vehicles: -€20,048
Equity and liabilities
- Reserves +€70,485
up €70,485 (+10.2%), from €688,991 to €759,476
of which Distributable reserves: +€72,345
- Debts after one year -€63,091
down €63,091 (-15.9%), from €396,482 to €333,391
- Other debts -€34,474
down €34,474 (-32.1%), from €107,236 to €72,762
Income statement
- Depreciation -€32,594
down €32,594 (-55.7%), from €58,477 to €25,883
- Taxes +€12,090
up €12,090 (+56.4%), from €21,448 to €33,538
- Gross operating margin -€1,874
down €1,874 (-1.2%), from €151,703 to €149,828
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€53,562
Gross operating margin
-€1,874
Depreciation
+€32,594
Other operating charges
+€208
Other operating items
-€771
Financial income
+€53
Financial charges
-€337
Taxes
-€12,090
Result 2025
€71,344
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€68,141
Investment
-€1,900
Financing
-€69,118
Cash 2024
€37,206
From operations (derived)
+€68,141
Net result for the year
+€71,344
Depreciation
+€25,883
Receivables within one year
+€1,459
Deferred charges and accrued income
+€1,651
Trade debts
-€2,747
Tax, wage and social debts
+€7,371
Other debts
-€34,474
Accrued charges and deferred income
-€2,346
Investment (derived)
-€1,900
Investment in fixed assets (net)
-€1,900
Financing
-€69,118
Debts after one year
-€63,091
Current portion of long-term debt
-€5,203
Short-term financial debts
+€35
Contributions, distributions and other
-€859
Cash 2025
€34,329
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,298,825 | €1,268,855 | -€29,970 | -2.3% |
| Fixed assets | 21/28 | €1,127,002 | €1,103,019 | -€23,983 | -2.1% |
| Tangible fixed assets | 22/27 | €367,002 | €343,019 | -€23,983 | -6.5% |
| Land and buildings | 22 | €289,413 | €283,963 | -€5,449 | -1.9% |
| Plant, machinery and equipment | 23 | €771 | €2,285 | +€1,514 | +196% |
| Furniture and vehicles | 24 | €76,819 | €56,771 | -€20,048 | -26.1% |
| Financial fixed assets | 28 | €760,000 | €760,000 | = | 0.0% |
| Current assets | 29/58 | €171,823 | €165,836 | -€5,987 | -3.5% |
| Amounts receivable within one year | 40/41 | €124,998 | €123,539 | -€1,459 | -1.2% |
| Trade receivables | 40 | €116,300 | €115,830 | -€470 | -0.4% |
| Other amounts receivable | 41 | €8,698 | €7,709 | -€989 | -11.4% |
| Cash at bank and in hand | 54/58 | €37,206 | €34,329 | -€2,877 | -7.7% |
| Deferred charges and accrued income | 490/1 | €9,619 | €7,968 | -€1,651 | -17.2% |
| Total equity and liabilities | 10/49 | €1,298,825 | €1,268,855 | -€29,970 | -2.3% |
| Equity | 10/15 | €701,391 | €771,876 | +€70,485 | +10.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €688,991 | €759,476 | +€70,485 | +10.2% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €687,131 | €759,476 | +€72,345 | +10.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €597,434 | €496,978 | -€100,455 | -16.8% |
| Amounts payable after more than one year | 17 | €396,482 | €333,391 | -€63,091 | -15.9% |
| Financial debts | 170/4 | €396,482 | €333,391 | -€63,091 | -15.9% |
| Amounts payable within one year | 42/48 | €197,157 | €162,138 | -€35,018 | -17.8% |
| Current portion of amounts payable after more than one year | 42 | €72,211 | €67,008 | -€5,203 | -7.2% |
| Financial debts | 43 | €7,558 | €7,593 | +€35 | +0.5% |
| Credit institutions | 430/8 | €7,558 | €7,593 | +€35 | +0.5% |
| Trade debts | 44 | €3,727 | €980 | -€2,747 | -73.7% |
| Suppliers | 440/4 | €3,727 | €980 | -€2,747 | -73.7% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €6,424 | €13,795 | +€7,371 | +115% |
| Taxes | 450/3 | €6,424 | €13,795 | +€7,371 | +115% |
| Other amounts payable | 47/48 | €107,236 | €72,762 | -€34,474 | -32.1% |
| Accrued charges and deferred income | 492/3 | €3,795 | €1,449 | -€2,346 | -61.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,477 | €25,883 | -€32,594 | -55.7% |
| Other operating charges | 640/8 | €1,871 | €1,663 | -€208 | -11.1% |
| Non-recurring operating charges | 66A | €0 | €771 | +€771 | |
| Gross operating margin | 9900 | €151,703 | €149,828 | -€1,874 | -1.2% |
| Operating profit (loss) | 9901 | €91,355 | €121,511 | +€30,157 | +33.0% |
| Financial income | 75/76B | - | €53 | +€53 | |
| Recurring financial income | 75 | - | €53 | +€53 | |
| Financial charges | 65/66B | €16,345 | €16,682 | +€337 | +2.1% |
| Recurring financial charges | 65 | €16,345 | €16,682 | +€337 | +2.1% |
| Profit (loss) for the period before taxes | 9903 | €75,010 | €104,882 | +€29,873 | +39.8% |
| Income taxes | 67/77 | €21,448 | €33,538 | +€12,090 | +56.4% |
| Profit (loss) for the period | 9904 | €53,562 | €71,344 | +€17,783 | +33.2% |
| Profit (loss) for the period to be appropriated | 9905 | €53,562 | €71,344 | +€17,783 | +33.2% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.