LEOPOLD SPIERS: what changed
LEOPOLD SPIERS
Largest movements
- Cash +€89,738
up €89,738 (+216%), from €41,478 to €131,216
mainly Current investments (+€50,000) and Net result for the year (+€42,820)
- Current investments -€50,000
no longer reported in 2026 (was €50,000)
- Receivables within one year -€17,560
down €17,560 (-68.1%), from €25,779 to €8,220
of which Trade receivables: -€17,458
- Tangible fixed assets -€15,350
down €15,350 (-7.1%), from €217,261 to €201,911
of which Plant, machinery and equipment: -€11,015
- Reserves +€42,000
up €42,000 (+10.7%), from €391,591 to €433,591
of which Distributable reserves: +€42,000
- Current portion of long-term debt -€31,065
no longer reported in 2026 (was €31,065)
- Trade debts -€10,390
down €10,390 (-63.9%), from €16,252 to €5,862
- Tax, wage and social debts +€10,273
up €10,273 (+78.8%), from €13,032 to €23,306
- Staff costs -€40,070
no longer reported in 2026 (was €40,070)
- Taxes +€9,948
up €9,948 (+127%), from €7,805 to €17,753
- Gross operating margin -€3,572
down €3,572 (-3.6%), from €99,015 to €95,443
- Financial income -€1,249
down €1,249 (-22.5%), from €5,539 to €4,290
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €503,604 | €513,542 | +€9,938 | +2.0% |
| Fixed assets | 21/28 | €219,215 | €203,178 | -€16,037 | -7.3% |
| Intangible fixed assets | 21 | €1,954 | €1,267 | -€686 | -35.1% |
| Tangible fixed assets | 22/27 | €217,261 | €201,911 | -€15,350 | -7.1% |
| Land and buildings | 22 | €137,111 | €130,130 | -€6,981 | -5.1% |
| Plant, machinery and equipment | 23 | €51,006 | €39,991 | -€11,015 | -21.6% |
| Furniture and vehicles | 24 | €21,677 | €25,416 | +€3,739 | +17.3% |
| Other tangible fixed assets | 26 | €7,467 | €6,373 | -€1,094 | -14.6% |
| Current assets | 29/58 | €284,389 | €310,364 | +€25,975 | +9.1% |
| Stocks and contracts in progress | 3 | €157,097 | €157,080 | -€17 | 0.0% |
| Stocks | 30/36 | €157,097 | €157,080 | -€17 | 0.0% |
| Amounts receivable within one year | 40/41 | €25,779 | €8,220 | -€17,560 | -68.1% |
| Trade receivables | 40 | €25,585 | €8,127 | -€17,458 | -68.2% |
| Other amounts receivable | 41 | €194 | €93 | -€102 | -52.2% |
| Current investments | 50/53 | €50,000 | - | -€50,000 | |
| Cash at bank and in hand | 54/58 | €41,478 | €131,216 | +€89,738 | +216% |
| Deferred charges and accrued income | 490/1 | €10,034 | €13,848 | +€3,814 | +38.0% |
| Total equity and liabilities | 10/49 | €503,604 | €513,542 | +€9,938 | +2.0% |
| Equity | 10/15 | €424,562 | €467,382 | +€42,820 | +10.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €391,591 | €433,591 | +€42,000 | +10.7% |
| Tax-exempt reserves | 132 | €23,531 | €23,531 | = | 0.0% |
| Distributable reserves | 133 | €368,060 | €410,060 | +€42,000 | +11.4% |
| Profit (loss) carried forward | 14 | €14,371 | €15,191 | +€820 | +5.7% |
| Amounts payable | 17/49 | €79,042 | €46,160 | -€32,882 | -41.6% |
| Amounts payable within one year | 42/48 | €78,945 | €46,082 | -€32,863 | -41.6% |
| Current portion of amounts payable after more than one year | 42 | €31,065 | - | -€31,065 | |
| Financial debts | 43 | - | €1,761 | +€1,761 | |
| Credit institutions | 430/8 | - | €1,761 | +€1,761 | |
| Trade debts | 44 | €16,252 | €5,862 | -€10,390 | -63.9% |
| Suppliers | 440/4 | €16,252 | €5,862 | -€10,390 | -63.9% |
| Taxes, remuneration and social security | 45 | €13,032 | €23,306 | +€10,273 | +78.8% |
| Taxes | 450/3 | €13,032 | €23,306 | +€10,273 | +78.8% |
| Other amounts payable | 47/48 | €18,596 | €15,154 | -€3,442 | -18.5% |
| Accrued charges and deferred income | 492/3 | €97 | €78 | -€18 | -19.1% |
| Non-recurring operating income | 76A | - | €1,848 | +€1,848 | |
| Remuneration, social security and pensions | 62 | €40,070 | - | -€40,070 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,037 | €34,086 | -€950 | -2.7% |
| Other operating charges | 640/8 | €2,967 | €3,535 | +€568 | +19.2% |
| Gross operating margin | 9900 | €99,015 | €95,443 | -€3,572 | -3.6% |
| Operating profit (loss) | 9901 | €20,942 | €57,821 | +€36,880 | +176% |
| Financial income | 75/76B | €5,539 | €4,290 | -€1,249 | -22.5% |
| Recurring financial income | 75 | €5,539 | €4,290 | -€1,249 | -22.5% |
| Financial charges | 65/66B | €2,065 | €1,538 | -€527 | -25.5% |
| Recurring financial charges | 65 | €2,065 | €1,538 | -€527 | -25.5% |
| Profit (loss) for the period before taxes | 9903 | €24,415 | €60,573 | +€36,158 | +148% |
| Income taxes | 67/77 | €7,805 | €17,753 | +€9,948 | +127% |
| Profit (loss) for the period | 9904 | €16,610 | €42,820 | +€26,211 | +158% |
| Profit (loss) for the period to be appropriated | 9905 | €16,610 | €42,820 | +€26,211 | +158% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.