LEORAPH: 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.
LEORAPH
Largest movements
- Tangible fixed assets +€20,936
up €20,936 (+618.3%), from €3,386 to €24,322
of which Other tangible fixed assets: +€10,845
- Receivables within one year -€13,968
down €13,968 (-9.7%), from €144,019 to €130,051
of which Trade receivables: -€15,125
- Cash -€2,559
down €2,559 (-6.1%), from €41,675 to €39,116
mainly Investment in fixed assets (net) (-€25,362) and Deferred charges and accrued income (-€2,139)
- Reserves +€4,500
up €4,500 (+2.2%), from €207,710 to €212,210
of which Distributable reserves: +€4,500
- Gross operating margin +€3,695
up €3,695 (+38.3%), from €9,651 to €13,346
- Depreciation +€3,219
up €3,219 (+266.4%), from €1,208 to €4,427
- Other operating charges +€185
up €185 (+378.2%), from €49 to €234
- Taxes -€157
down €157 (-4.4%), from €3,606 to €3,449
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.
Cash bridge derived
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 | €241,586 | €248,134 | +€6,548 | +2.7% |
| Fixed assets | 21/28 | €3,467 | €24,403 | +€20,936 | +603.9% |
| Tangible fixed assets | 22/27 | €3,386 | €24,322 | +€20,936 | +618.3% |
| Plant, machinery and equipment | 23 | €1,067 | €712 | -€355 | -33.3% |
| Furniture and vehicles | 24 | €21 | €10,467 | +€10,446 | +49742.1% |
| Other tangible fixed assets | 26 | €2,298 | €13,143 | +€10,845 | +471.9% |
| Financial fixed assets | 28 | €81 | €81 | -€0 | -0.3% |
| Current assets | 29/58 | €238,119 | €223,731 | -€14,388 | -6.0% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €144,019 | €130,051 | -€13,968 | -9.7% |
| Trade receivables | 40 | €73,625 | €58,500 | -€15,125 | -20.5% |
| Other amounts receivable | 41 | €70,394 | €71,551 | +€1,157 | +1.6% |
| Cash at bank and in hand | 54/58 | €41,675 | €39,116 | -€2,559 | -6.1% |
| Deferred charges and accrued income | 490/1 | €2,425 | €4,564 | +€2,139 | +88.2% |
| Total equity and liabilities | 10/49 | €241,586 | €248,134 | +€6,548 | +2.7% |
| Equity | 10/15 | €224,896 | €229,624 | +€4,728 | +2.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €207,710 | €212,210 | +€4,500 | +2.2% |
| 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 | €205,850 | €210,350 | +€4,500 | +2.2% |
| Profit (loss) carried forward | 14 | €4,786 | €5,014 | +€228 | +4.8% |
| Amounts payable | 17/49 | €16,690 | €18,509 | +€1,819 | +10.9% |
| Amounts payable within one year | 42/48 | €16,690 | €18,509 | +€1,819 | +10.9% |
| Trade debts | 44 | €1,428 | €723 | -€705 | -49.4% |
| Suppliers | 440/4 | €1,428 | €723 | -€705 | -49.4% |
| Taxes, remuneration and social security | 45 | €11,246 | €13,125 | +€1,879 | +16.7% |
| Taxes | 450/3 | €7,474 | €9,625 | +€2,151 | +28.8% |
| Remuneration and social security | 454/9 | €3,772 | €3,500 | -€272 | -7.2% |
| Other amounts payable | 47/48 | €4,016 | €4,662 | +€646 | +16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,208 | €4,427 | +€3,219 | +266.4% |
| Other operating charges | 640/8 | €49 | €234 | +€185 | +378.2% |
| Gross operating margin | 9900 | €9,651 | €13,346 | +€3,695 | +38.3% |
| Operating profit (loss) | 9901 | €8,394 | €8,685 | +€291 | +3.5% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €586 | €510 | -€76 | -12.9% |
| Recurring financial charges | 65 | €586 | €510 | -€76 | -12.9% |
| Profit (loss) for the period before taxes | 9903 | €7,808 | €8,177 | +€369 | +4.7% |
| Income taxes | 67/77 | €3,606 | €3,449 | -€157 | -4.4% |
| Profit (loss) for the period | 9904 | €4,202 | €4,729 | +€527 | +12.5% |
| Profit (loss) for the period to be appropriated | 9905 | €4,202 | €4,729 | +€527 | +12.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.