LEOpancakes: 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.
LEOpancakes
Largest movements
- Cash +€38,814
up €38,814 (+123%), from €31,592 to €70,406
mainly Net result for the year (+€28,098) and Depreciation (+€27,629)
- Tangible fixed assets -€27,629
down €27,629 (-6.0%), from €459,654 to €432,024
- Debts after one year -€31,411
down €31,411 (-9.3%), from €337,300 to €305,889
- Reserves +€28,098
up €28,098 (+36.0%), from €78,107 to €106,205
- Tax, wage and social debts +€15,134
up €15,134 (+94.3%), from €16,053 to €31,187
of which Remuneration and social security: +€9,845
- Other debts +€9,900
up €9,900 (+76.9%), from €12,872 to €22,771
- Gross operating margin +€56,572
up €56,572 (+44.6%), from €126,865 to €183,437
- Taxes +€8,745
up €8,745 (+346%), from €2,527 to €11,272
- Financial charges +€8,468
up €8,468 (+213%), from €3,981 to €12,450
- Depreciation +€6,987
up €6,987 (+33.9%), from €20,642 to €27,629
- Staff costs +€6,912
up €6,912 (+7.5%), from €91,752 to €98,664
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 | €496,983 | €512,362 | +€15,379 | +3.1% |
| Fixed assets | 21/28 | €459,654 | €432,024 | -€27,629 | -6.0% |
| Tangible fixed assets | 22/27 | €459,654 | €432,024 | -€27,629 | -6.0% |
| Land and buildings | 22 | €436,349 | €423,055 | -€13,294 | -3.0% |
| Plant, machinery and equipment | 23 | €7,825 | €3,817 | -€4,008 | -51.2% |
| Furniture and vehicles | 24 | €15,479 | €5,152 | -€10,327 | -66.7% |
| Current assets | 29/58 | €37,330 | €80,338 | +€43,008 | +115% |
| Amounts receivable within one year | 40/41 | €4,823 | €8,768 | +€3,944 | +81.8% |
| Trade receivables | 40 | - | €8,606 | +€8,606 | |
| Other amounts receivable | 41 | €4,823 | €162 | -€4,662 | -96.6% |
| Cash at bank and in hand | 54/58 | €31,592 | €70,406 | +€38,814 | +123% |
| Deferred charges and accrued income | 490/1 | €914 | €1,164 | +€250 | +27.3% |
| Total equity and liabilities | 10/49 | €496,983 | €512,362 | +€15,379 | +3.1% |
| Equity | 10/15 | €83,107 | €111,205 | +€28,098 | +33.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Contributions outside capital | 11 | €5,000 | - | -€5,000 | |
| Share premium | 1100/10 | €5,000 | - | -€5,000 | |
| Reserves | 13 | €78,107 | €106,205 | +€28,098 | +36.0% |
| Distributable reserves | 133 | €78,107 | €106,205 | +€28,098 | +36.0% |
| Amounts payable | 17/49 | €413,877 | €401,158 | -€12,719 | -3.1% |
| Amounts payable after more than one year | 17 | €337,300 | €305,889 | -€31,411 | -9.3% |
| Financial debts | 170/4 | €337,300 | €305,889 | -€31,411 | -9.3% |
| Amounts payable within one year | 42/48 | €76,577 | €95,269 | +€18,692 | +24.4% |
| Current portion of amounts payable after more than one year | 42 | €32,890 | €30,999 | -€1,891 | -5.8% |
| Trade debts | 44 | €14,762 | €10,312 | -€4,450 | -30.1% |
| Suppliers | 440/4 | €14,762 | €10,312 | -€4,450 | -30.1% |
| Taxes, remuneration and social security | 45 | €16,053 | €31,187 | +€15,134 | +94.3% |
| Taxes | 450/3 | €14,303 | €19,592 | +€5,289 | +37.0% |
| Remuneration and social security | 454/9 | €1,750 | €11,595 | +€9,845 | +563% |
| Other amounts payable | 47/48 | €12,872 | €22,771 | +€9,900 | +76.9% |
| Remuneration, social security and pensions | 62 | €91,752 | €98,664 | +€6,912 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,642 | €27,629 | +€6,987 | +33.9% |
| Other operating charges | 640/8 | €3,491 | €5,325 | +€1,834 | +52.5% |
| Gross operating margin | 9900 | €126,865 | €183,437 | +€56,572 | +44.6% |
| Operating profit (loss) | 9901 | €10,980 | €51,819 | +€40,838 | +372% |
| Financial income | 75/76B | €0 | €1 | +€1 | +5,500% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +5,500% |
| Financial charges | 65/66B | €3,981 | €12,450 | +€8,468 | +213% |
| Recurring financial charges | 65 | €3,981 | €12,450 | +€8,468 | +213% |
| Profit (loss) for the period before taxes | 9903 | €6,999 | €39,370 | +€32,371 | +463% |
| Income taxes | 67/77 | €2,527 | €11,272 | +€8,745 | +346% |
| Profit (loss) for the period | 9904 | €4,472 | €28,098 | +€23,625 | +528% |
| Profit (loss) for the period to be appropriated | 9905 | €4,472 | €28,098 | +€23,625 | +528% |
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 14 October 2026 via checked.be.