LEOTHERM: 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.
LEOTHERM
Largest movements
- Stocks and contracts -€40,760
down €40,760 (-26.5%), from €153,588 to €112,828
- Cash +€29,212
up €29,212 (+147%), from €19,929 to €49,141
mainly Stocks and contracts (+€40,760) and Net result for the year (+€30,936)
- Tangible fixed assets -€6,169
down €6,169 (-3.5%), from €174,113 to €167,943
of which Furniture and vehicles: -€11,324
- Receivables within one year -€5,665
down €5,665 (-5.2%), from €108,561 to €102,896
of which Other amounts receivable: -€17,827
- Other debts -€57,829
down €57,829 (-89.8%), from €64,428 to €6,599
- Reserves +€30,500
up €30,500 (+17.7%), from €172,360 to €202,860
of which Distributable reserves: +€30,500
- Debts after one year +€9,987
up €9,987 (+7.0%), from €143,620 to €153,607
of which Financial debts: +€9,987
- Tax, wage and social debts -€7,643
down €7,643 (-26.7%), from €28,645 to €21,002
of which Taxes: -€10,962
- Current portion of long-term debt +€7,150
up €7,150 (+42.4%), from €16,863 to €24,013
- Purchases and services +€78,808
up €78,808 (+68.2%), from €115,476 to €194,284
- Gross operating margin +€2,297
up €2,297 (+3.4%), from €66,794 to €69,091
- Financial charges +€1,970
up €1,970 (+75.6%), from €2,606 to €4,575
- Depreciation -€1,393
down €1,393 (-6.2%), from €22,280 to €20,888
- Staff costs -€936
no longer reported in 2025 (was €936)
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 | €462,524 | €437,142 | -€25,382 | -5.5% |
| Fixed assets | 21/28 | €180,446 | €172,277 | -€8,169 | -4.5% |
| Intangible fixed assets | 21 | €6,333 | €4,333 | -€2,000 | -31.6% |
| Tangible fixed assets | 22/27 | €174,113 | €167,943 | -€6,169 | -3.5% |
| Land and buildings | 22 | €156,050 | €149,850 | -€6,200 | -4.0% |
| Plant, machinery and equipment | 23 | €1,074 | €274 | -€800 | -74.5% |
| Furniture and vehicles | 24 | €16,989 | €5,665 | -€11,324 | -66.7% |
| Other tangible fixed assets | 26 | - | €12,155 | +€12,155 | |
| Current assets | 29/58 | €282,077 | €264,865 | -€17,212 | -6.1% |
| Stocks and contracts in progress | 3 | €153,588 | €112,828 | -€40,760 | -26.5% |
| Stocks | 30/36 | €153,588 | €112,828 | -€40,760 | -26.5% |
| Amounts receivable within one year | 40/41 | €108,561 | €102,896 | -€5,665 | -5.2% |
| Trade receivables | 40 | €90,733 | €102,896 | +€12,163 | +13.4% |
| Other amounts receivable | 41 | €17,827 | - | -€17,827 | |
| Cash at bank and in hand | 54/58 | €19,929 | €49,141 | +€29,212 | +147% |
| Total equity and liabilities | 10/49 | €462,524 | €437,142 | -€25,382 | -5.5% |
| Equity | 10/15 | €191,198 | €222,133 | +€30,936 | +16.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €172,360 | €202,860 | +€30,500 | +17.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €170,500 | €201,000 | +€30,500 | +17.9% |
| Profit (loss) carried forward | 14 | €238 | €673 | +€436 | +183% |
| Amounts payable | 17/49 | €271,326 | €215,009 | -€56,317 | -20.8% |
| Amounts payable after more than one year | 17 | €143,620 | €153,607 | +€9,987 | +7.0% |
| Financial debts | 170/4 | €142,320 | €152,307 | +€9,987 | +7.0% |
| Other amounts payable | 178/9 | €1,300 | €1,300 | = | 0.0% |
| Amounts payable within one year | 42/48 | €126,659 | €61,402 | -€65,257 | -51.5% |
| Current portion of amounts payable after more than one year | 42 | €16,863 | €24,013 | +€7,150 | +42.4% |
| Trade debts | 44 | €16,722 | €9,788 | -€6,934 | -41.5% |
| Suppliers | 440/4 | €16,722 | €9,788 | -€6,934 | -41.5% |
| Taxes, remuneration and social security | 45 | €28,645 | €21,002 | -€7,643 | -26.7% |
| Taxes | 450/3 | €25,894 | €14,933 | -€10,962 | -42.3% |
| Remuneration and social security | 454/9 | €2,751 | €6,069 | +€3,319 | +121% |
| Other amounts payable | 47/48 | €64,428 | €6,599 | -€57,829 | -89.8% |
| Accrued charges and deferred income | 492/3 | €1,048 | - | -€1,048 | |
| Goods, raw materials, services and sundry goods | 60/61 | €115,476 | €194,284 | +€78,808 | +68.2% |
| Remuneration, social security and pensions | 62 | €936 | - | -€936 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,280 | €20,888 | -€1,393 | -6.2% |
| Other operating charges | 640/8 | €1,679 | €1,503 | -€177 | -10.5% |
| Gross operating margin | 9900 | €66,794 | €69,091 | +€2,297 | +3.4% |
| Operating profit (loss) | 9901 | €41,898 | €46,701 | +€4,803 | +11.5% |
| Financial income | 75/76B | €1,279 | €1,058 | -€221 | -17.3% |
| Recurring financial income | 75 | €1,279 | €1,058 | -€221 | -17.3% |
| Financial charges | 65/66B | €2,606 | €4,575 | +€1,970 | +75.6% |
| Recurring financial charges | 65 | €2,606 | €4,575 | +€1,970 | +75.6% |
| Profit (loss) for the period before taxes | 9903 | €40,572 | €43,184 | +€2,612 | +6.4% |
| Income taxes | 67/77 | €11,440 | €12,248 | +€808 | +7.1% |
| Profit (loss) for the period | 9904 | €29,132 | €30,936 | +€1,804 | +6.2% |
| Profit (loss) for the period to be appropriated | 9905 | €29,132 | €30,936 | +€1,804 | +6.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.