LEOS: what changed
LEOS
Largest movements
- Current investments +€30,015
new in 2025: €30,015
- Cash -€17,948
down €17,948 (-23.9%), from €74,957 to €57,009
mainly Contributions, distributions and other (-€46,502) and Current investments (-€30,015)
- Deferred charges and accrued income -€3,001
down €3,001 (-47.9%), from €6,265 to €3,264
- Tangible fixed assets -€2,536
down €2,536 (-36.1%), from €7,019 to €4,483
- Reserves -€46,502
down €46,502 (-57.1%), from €81,404 to €34,903
- Other debts +€38,228
up €38,228 (+1,654%), from €2,311 to €40,539
- Profit (loss) carried forward +€20,637
up €20,637, from €0 to €20,637
- Tax, wage and social debts -€5,048
down €5,048 (-17.3%), from €29,102 to €24,054
of which Taxes: -€5,054
- Gross operating margin +€5,342
up €5,342 (+20.3%), from €26,372 to €31,715
- Taxes +€1,237
up €1,237 (+19.2%), from €6,434 to €7,671
- Other operating charges +€367
up €367 (+98.4%), from €373 to €740
Change in the result, 2024 to 2025
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 2024 and 2025 balance sheets and the 2025 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 | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €117,412 | €124,488 | +€7,076 | +6.0% |
| Fixed assets | 21/28 | €7,019 | €4,483 | -€2,536 | -36.1% |
| Tangible fixed assets | 22/27 | €7,019 | €4,483 | -€2,536 | -36.1% |
| Land and buildings | 22 | €3,138 | €2,420 | -€719 | -22.9% |
| Plant, machinery and equipment | 23 | €1,874 | €709 | -€1,165 | -62.2% |
| Furniture and vehicles | 24 | €2,007 | €1,354 | -€652 | -32.5% |
| Current assets | 29/58 | €110,393 | €120,005 | +€9,612 | +8.7% |
| Amounts receivable within one year | 40/41 | €29,171 | €29,718 | +€546 | +1.9% |
| Trade receivables | 40 | €29,004 | €29,348 | +€344 | +1.2% |
| Other amounts receivable | 41 | €167 | €370 | +€202 | +121% |
| Current investments | 50/53 | - | €30,015 | +€30,015 | |
| Cash at bank and in hand | 54/58 | €74,957 | €57,009 | -€17,948 | -23.9% |
| Deferred charges and accrued income | 490/1 | €6,265 | €3,264 | -€3,001 | -47.9% |
| Total equity and liabilities | 10/49 | €117,412 | €124,488 | +€7,076 | +6.0% |
| Equity | 10/15 | €83,904 | €58,039 | -€25,865 | -30.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €81,404 | €34,903 | -€46,502 | -57.1% |
| Distributable reserves | 133 | €81,404 | €34,903 | -€46,502 | -57.1% |
| Profit (loss) carried forward | 14 | €0 | €20,637 | +€20,637 | |
| Amounts payable | 17/49 | €33,507 | €66,449 | +€32,942 | +98.3% |
| Amounts payable within one year | 42/48 | €33,144 | €66,073 | +€32,929 | +99.4% |
| Financial debts | 43 | €327 | €100 | -€227 | -69.4% |
| Credit institutions | 430/8 | €327 | €100 | -€227 | -69.4% |
| Trade debts | 44 | €1,405 | €1,381 | -€24 | -1.7% |
| Suppliers | 440/4 | €1,405 | €1,381 | -€24 | -1.7% |
| Taxes, remuneration and social security | 45 | €29,102 | €24,054 | -€5,048 | -17.3% |
| Taxes | 450/3 | €26,333 | €21,278 | -€5,054 | -19.2% |
| Remuneration and social security | 454/9 | €2,769 | €2,776 | +€7 | +0.2% |
| Other amounts payable | 47/48 | €2,311 | €40,539 | +€38,228 | +1,654% |
| Accrued charges and deferred income | 492/3 | €363 | €376 | +€13 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,272 | €2,536 | +€264 | +11.6% |
| Other operating charges | 640/8 | €373 | €740 | +€367 | +98.4% |
| Gross operating margin | 9900 | €26,372 | €31,715 | +€5,342 | +20.3% |
| Operating profit (loss) | 9901 | €23,727 | €28,439 | +€4,712 | +19.9% |
| Financial income | 75/76B | €0 | €68 | +€68 | |
| Recurring financial income | 75 | €0 | €68 | +€68 | |
| Financial charges | 65/66B | €180 | €200 | +€19 | +10.6% |
| Recurring financial charges | 65 | €180 | €200 | +€19 | +10.6% |
| Profit (loss) for the period before taxes | 9903 | €23,547 | €28,307 | +€4,760 | +20.2% |
| Income taxes | 67/77 | €6,434 | €7,671 | +€1,237 | +19.2% |
| Profit (loss) for the period | 9904 | €17,113 | €20,637 | +€3,524 | +20.6% |
| Profit (loss) for the period to be appropriated | 9905 | €17,113 | €20,637 | +€3,524 | +20.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.