Leovic: 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.
Leovic
Largest movements
- Tangible fixed assets +€410,827
up €410,827 (+93.1%), from €441,278 to €852,105
of which Land and buildings: +€395,727
- Current investments +€202,639
up €202,639 (+202.6%), from €100,000 to €302,639
- Cash -€76,760
down €76,760 (-52.5%), from €146,099 to €69,339
mainly Investment in fixed assets (net) (-€501,175) and Current investments (-€202,639)
- Debts after one year +€168,471
up €168,471 (+2194.8%), from €7,676 to €176,147
- Other debts +€152,941
up €152,941 (+33.0%), from €463,181 to €616,122
- Contributions +€100,000
up €100,000 (+23.2%), from €431,250 to €531,250
- Reserves +€82,179
up €82,179 (+85.4%), from €96,181 to €178,359
- Tax, wage and social debts +€20,121
up €20,121 (+109.7%), from €18,336 to €38,457
- Gross operating margin +€163,555
up €163,555 (+238.0%), from €68,722 to €232,277
- Depreciation +€65,035
up €65,035 (+256.9%), from €25,313 to €90,348
- Taxes +€30,149
up €30,149 (+243.7%), from €12,372 to €42,521
- Other operating charges +€2,530
up €2,530 (+68.1%), from €3,717 to €6,247
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 | €1,059,672 | €1,593,531 | +€533,859 | +50.4% |
| Fixed assets | 21/28 | €484,628 | €895,455 | +€410,827 | +84.8% |
| Tangible fixed assets | 22/27 | €441,278 | €852,105 | +€410,827 | +93.1% |
| Land and buildings | 22 | €397,385 | €793,112 | +€395,727 | +99.6% |
| Plant, machinery and equipment | 23 | €3,780 | €3,138 | -€642 | -17.0% |
| Furniture and vehicles | 24 | €40,113 | €38,342 | -€1,771 | -4.4% |
| Other tangible fixed assets | 26 | - | €17,513 | +€17,513 | |
| Financial fixed assets | 28 | €43,350 | €43,350 | = | 0.0% |
| Current assets | 29/58 | €575,043 | €698,076 | +€123,032 | +21.4% |
| Amounts receivable within one year | 40/41 | €304,922 | €304,858 | -€64 | 0.0% |
| Trade receivables | 40 | €1,054 | €991 | -€64 | -6.0% |
| Other amounts receivable | 41 | €303,867 | €303,867 | = | 0.0% |
| Current investments | 50/53 | €100,000 | €302,639 | +€202,639 | +202.6% |
| Cash at bank and in hand | 54/58 | €146,099 | €69,339 | -€76,760 | -52.5% |
| Deferred charges and accrued income | 490/1 | €24,023 | €21,240 | -€2,783 | -11.6% |
| Total equity and liabilities | 10/49 | €1,059,672 | €1,593,531 | +€533,859 | +50.4% |
| Equity | 10/15 | €527,431 | €709,609 | +€182,179 | +34.5% |
| Contributions | 10/11 | €431,250 | €531,250 | +€100,000 | +23.2% |
| Reserves | 13 | €96,181 | €178,359 | +€82,179 | +85.4% |
| Distributable reserves | 133 | €96,181 | €178,359 | +€82,179 | +85.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €532,241 | €883,921 | +€351,681 | +66.1% |
| Amounts payable after more than one year | 17 | €7,676 | €176,147 | +€168,471 | +2194.8% |
| Financial debts | 170/4 | €7,676 | €176,147 | +€168,471 | +2194.8% |
| Amounts payable within one year | 42/48 | €497,279 | €682,106 | +€184,828 | +37.2% |
| Current portion of amounts payable after more than one year | 42 | €11,381 | €25,644 | +€14,263 | +125.3% |
| Trade debts | 44 | €4,381 | €1,884 | -€2,498 | -57.0% |
| Suppliers | 440/4 | €4,381 | €1,884 | -€2,498 | -57.0% |
| Taxes, remuneration and social security | 45 | €18,336 | €38,457 | +€20,121 | +109.7% |
| Taxes | 450/3 | €18,336 | €38,457 | +€20,121 | +109.7% |
| Other amounts payable | 47/48 | €463,181 | €616,122 | +€152,941 | +33.0% |
| Accrued charges and deferred income | 492/3 | €27,286 | €25,668 | -€1,618 | -5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,313 | €90,348 | +€65,035 | +256.9% |
| Other operating charges | 640/8 | €3,717 | €6,247 | +€2,530 | +68.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €68,722 | €232,277 | +€163,555 | +238.0% |
| Operating profit (loss) | 9901 | €39,692 | €135,682 | +€95,990 | +241.8% |
| Financial income | 75/76B | €27,408 | €27,681 | +€273 | +1.0% |
| Recurring financial income | 75 | €27,408 | €27,681 | +€273 | +1.0% |
| Financial charges | 65/66B | €37,431 | €38,664 | +€1,233 | +3.3% |
| Recurring financial charges | 65 | €37,431 | €38,664 | +€1,233 | +3.3% |
| Profit (loss) for the period before taxes | 9903 | €29,669 | €124,700 | +€95,031 | +320.3% |
| Income taxes | 67/77 | €12,372 | €42,521 | +€30,149 | +243.7% |
| Profit (loss) for the period | 9904 | €17,297 | €82,179 | +€64,882 | +375.1% |
| Profit (loss) for the period to be appropriated | 9905 | €17,297 | €82,179 | +€64,882 | +375.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.