LEOPOLD: 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.
LEOPOLD
Largest movements
No asset line moved by more than 1% of the balance sheet total.
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€25
up €25 (+2.5%), from €1,006 to €1,031
- Financial charges +€13
up €13 (+2.3%), from €556 to €569
- Other operating charges +€12
up €12 (+2.8%), from €449 to €462
From the 2024 result to the 2025 result
The net result is not in both sets of accounts; without it the difference cannot be explained line by line.
Cash bridge derived
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €218,332 | €216,348 | -€1,984 | -0.9% |
| Current assets | 29/58 | €218,332 | €216,348 | -€1,984 | -0.9% |
| Stocks and contracts in progress | 3 | €31,735 | €31,735 | = | 0.0% |
| Stocks | 30/36 | €31,735 | €31,735 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €130,192 | €130,192 | = | 0.0% |
| Other amounts receivable | 41 | €130,192 | €130,192 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €56,208 | €54,421 | -€1,787 | -3.2% |
| Deferred charges and accrued income | 490/1 | €197 | - | -€197 | |
| Total equity and liabilities | 10/49 | €218,332 | €216,348 | -€1,984 | -0.9% |
| Equity | 10/15 | €191,387 | €191,387 | = | 0.0% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €15,000 | €15,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,387 | €26,387 | = | 0.0% |
| Amounts payable | 17/49 | €26,945 | €24,961 | -€1,984 | -7.4% |
| Amounts payable within one year | 42/48 | €112 | - | -€112 | |
| Trade debts | 44 | €112 | - | -€112 | |
| Suppliers | 440/4 | €112 | - | -€112 | |
| Accrued charges and deferred income | 492/3 | €26,833 | €24,961 | -€1,872 | -7.0% |
| Other operating charges | 640/8 | €449 | €462 | +€12 | +2.8% |
| Gross operating margin | 9900 | €1,006 | €1,031 | +€25 | +2.5% |
| Operating profit (loss) | 9901 | €556 | €569 | +€13 | +2.3% |
| Financial charges | 65/66B | €556 | €569 | +€13 | +2.3% |
| Recurring financial charges | 65 | €556 | €569 | +€13 | +2.3% |
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.