LEOPOLD - I: 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.
LEOPOLD - I
Largest movements
- Cash -€278,703
down €278,703 (-50.3%), from €554,074 to €275,370
mainly Contributions, distributions and other (-€417,000) and Receivables within one year (-€93,036)
- Current investments -€250,921
down €250,921 (-100%), from €250,921 to €0
- Receivables within one year +€93,036
up €93,036 (+47.8%), from €194,808 to €287,844
of which Other amounts receivable: +€80,566
- Stocks and contracts -€69,031
down €69,031 (-100%), from €69,031 to €0
- Tangible fixed assets +€23,232
up €23,232 (+13.7%), from €169,611 to €192,843
of which Furniture and vehicles: +€23,232
- Reserves -€397,213
down €397,213 (-34.9%), from €1.1m to €741,423
of which Distributable reserves: -€397,213
- Tax, wage and social debts -€43,118
down €43,118 (-89.8%), from €48,001 to €4,883
of which Remuneration and social security: -€43,268
- Trade debts -€38,795
down €38,795 (-99.8%), from €38,855 to €60
- Gross operating margin -€775,042
down €775,042 (-97.0%), from €799,414 to €24,372
- Staff costs -€497,659
down €497,659 (-100.0%), from €497,721 to €62
- Depreciation -€96,893
down €96,893 (-100%), from €96,893 to €0
- Taxes -€45,087
down €45,087 (-85.9%), from €52,475 to €7,389
- Other operating charges -€13,039
down €13,039 (-82.6%), from €15,777 to €2,738
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 | €1,247,483 | €765,096 | -€482,387 | -38.7% |
| Fixed assets | 21/28 | €178,650 | €201,882 | +€23,232 | +13.0% |
| Tangible fixed assets | 22/27 | €169,611 | €192,843 | +€23,232 | +13.7% |
| Land and buildings | 22 | €11,885 | €11,885 | = | 0.0% |
| Plant, machinery and equipment | 23 | €102,172 | €102,172 | = | 0.0% |
| Furniture and vehicles | 24 | €55,554 | €78,787 | +€23,232 | +41.8% |
| Financial fixed assets | 28 | €9,039 | €9,039 | = | 0.0% |
| Current assets | 29/58 | €1,068,833 | €563,214 | -€505,619 | -47.3% |
| Stocks and contracts in progress | 3 | €69,031 | €0 | -€69,031 | -100% |
| Stocks | 30/36 | €69,031 | €0 | -€69,031 | -100% |
| Amounts receivable within one year | 40/41 | €194,808 | €287,844 | +€93,036 | +47.8% |
| Trade receivables | 40 | €17 | €12,487 | +€12,470 | +72,711% |
| Other amounts receivable | 41 | €194,791 | €275,357 | +€80,566 | +41.4% |
| Current investments | 50/53 | €250,921 | €0 | -€250,921 | -100% |
| Cash at bank and in hand | 54/58 | €554,074 | €275,370 | -€278,703 | -50.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,247,483 | €765,096 | -€482,387 | -38.7% |
| Equity | 10/15 | €1,157,227 | €760,015 | -€397,213 | -34.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,138,635 | €741,423 | -€397,213 | -34.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,136,775 | €739,563 | -€397,213 | -34.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €90,255 | €5,081 | -€85,174 | -94.4% |
| Amounts payable within one year | 42/48 | €86,911 | €5,081 | -€81,829 | -94.2% |
| Financial debts | 43 | €55 | €0 | -€55 | -100% |
| Credit institutions | 430/8 | €55 | €0 | -€55 | -100% |
| Trade debts | 44 | €38,855 | €60 | -€38,795 | -99.8% |
| Suppliers | 440/4 | €38,855 | €60 | -€38,795 | -99.8% |
| Taxes, remuneration and social security | 45 | €48,001 | €4,883 | -€43,118 | -89.8% |
| Taxes | 450/3 | €4,733 | €4,883 | +€150 | +3.2% |
| Remuneration and social security | 454/9 | €43,268 | €0 | -€43,268 | -100% |
| Other amounts payable | 47/48 | €0 | €139 | +€139 | |
| Accrued charges and deferred income | 492/3 | €3,345 | €0 | -€3,345 | -100% |
| Remuneration, social security and pensions | 62 | €497,721 | €62 | -€497,659 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,893 | €0 | -€96,893 | -100% |
| Other operating charges | 640/8 | €15,777 | €2,738 | -€13,039 | -82.6% |
| Gross operating margin | 9900 | €799,414 | €24,372 | -€775,042 | -97.0% |
| Operating profit (loss) | 9901 | €189,023 | €21,572 | -€167,451 | -88.6% |
| Financial income | 75/76B | €484 | €7,436 | +€6,952 | +1,437% |
| Recurring financial income | 75 | €484 | €7,436 | +€6,952 | +1,437% |
| Financial charges | 65/66B | €11,696 | €1,832 | -€9,864 | -84.3% |
| Recurring financial charges | 65 | €11,696 | €1,832 | -€9,864 | -84.3% |
| Profit (loss) for the period before taxes | 9903 | €177,811 | €27,176 | -€150,635 | -84.7% |
| Income taxes | 67/77 | €52,475 | €7,389 | -€45,087 | -85.9% |
| Profit (loss) for the period | 9904 | €125,336 | €19,787 | -€105,548 | -84.2% |
| Profit (loss) for the period to be appropriated | 9905 | €125,336 | €19,787 | -€105,548 | -84.2% |
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 24 October 2026 via checked.be.