LERO: 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.
LERO
Largest movements
- Cash +€28,795
up €28,795 (+15156.6%), from €190 to €28,984
mainly Net result for the year (+€39,406) and Tax, wage and social debts (+€10,703)
- Receivables within one year +€10,759
up €10,759 (+33.9%), from €31,736 to €42,495
of which Other amounts receivable: +€5,588
- Profit (loss) carried forward +€23,906
up €23,906 (+62.7%), from €38,104 to €62,009
- Current portion of long-term debt -€11,875
down €11,875 (-66.6%), from €17,827 to €5,953
- Tax, wage and social debts +€10,703
up €10,703 (+67.7%), from €15,801 to €26,504
of which Taxes: +€11,211
- Debts after one year +€8,000
up €8,000 (+66.7%), from €12,000 to €20,000
- Reserves +€7,500
up €7,500 (+52.2%), from €14,359 to €21,859
- Gross operating margin +€13,335
up €13,335 (+13.4%), from €99,812 to €113,148
- Taxes +€4,496
up €4,496 (+40.9%), from €10,993 to €15,489
- Staff costs +€3,679
up €3,679 (+7.9%), from €46,491 to €50,170
- Financial charges -€1,940
down €1,940 (-26.0%), from €7,457 to €5,517
- Other operating charges -€1,531
down €1,531 (-20.4%), from €7,522 to €5,991
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 | €149,986 | €189,897 | +€39,910 | +26.6% |
| Fixed assets | 21/28 | €4,964 | €6,108 | +€1,144 | +23.0% |
| Tangible fixed assets | 22/27 | €3,544 | €4,688 | +€1,144 | +32.3% |
| Plant, machinery and equipment | 23 | €3,544 | €2,619 | -€926 | -26.1% |
| Furniture and vehicles | 24 | - | €2,070 | +€2,070 | |
| Financial fixed assets | 28 | €1,420 | €1,420 | = | 0.0% |
| Current assets | 29/58 | €145,023 | €183,789 | +€38,766 | +26.7% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €1,241 | €1,089 | -€152 | -12.3% |
| Stocks | 30/36 | €1,241 | €1,089 | -€152 | -12.3% |
| Amounts receivable within one year | 40/41 | €31,736 | €42,495 | +€10,759 | +33.9% |
| Trade receivables | 40 | €3,505 | €8,676 | +€5,171 | +147.5% |
| Other amounts receivable | 41 | €28,231 | €33,819 | +€5,588 | +19.8% |
| Cash at bank and in hand | 54/58 | €190 | €28,984 | +€28,795 | +15156.6% |
| Deferred charges and accrued income | 490/1 | €11,855 | €11,220 | -€635 | -5.4% |
| Total equity and liabilities | 10/49 | €149,986 | €189,897 | +€39,910 | +26.6% |
| Equity | 10/15 | €71,055 | €102,460 | +€31,406 | +44.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €14,359 | €21,859 | +€7,500 | +52.2% |
| Distributable reserves | 133 | €14,359 | €21,859 | +€7,500 | +52.2% |
| Profit (loss) carried forward | 14 | €38,104 | €62,009 | +€23,906 | +62.7% |
| Amounts payable | 17/49 | €78,932 | €87,436 | +€8,505 | +10.8% |
| Amounts payable after more than one year | 17 | €12,000 | €20,000 | +€8,000 | +66.7% |
| Other amounts payable | 178/9 | €12,000 | €20,000 | +€8,000 | +66.7% |
| Amounts payable within one year | 42/48 | €66,932 | €67,436 | +€505 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €17,827 | €5,953 | -€11,875 | -66.6% |
| Financial debts | 43 | €8,645 | €10,133 | +€1,488 | +17.2% |
| Credit institutions | 430/8 | €8,623 | €9,854 | +€1,231 | +14.3% |
| Other loans | 439 | €21 | €279 | +€257 | +1197.8% |
| Trade debts | 44 | €24,658 | €24,846 | +€188 | +0.8% |
| Suppliers | 440/4 | €24,658 | €24,846 | +€188 | +0.8% |
| Taxes, remuneration and social security | 45 | €15,801 | €26,504 | +€10,703 | +67.7% |
| Taxes | 450/3 | €6,496 | €17,707 | +€11,211 | +172.6% |
| Remuneration and social security | 454/9 | €9,305 | €8,797 | -€508 | -5.5% |
| Non-recurring operating income | 76A | €2,059 | - | -€2,059 | |
| Remuneration, social security and pensions | 62 | €46,491 | €50,170 | +€3,679 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,385 | €956 | -€428 | -30.9% |
| Other operating charges | 640/8 | €7,522 | €5,991 | -€1,531 | -20.4% |
| Gross operating margin | 9900 | €99,812 | €113,148 | +€13,335 | +13.4% |
| Operating profit (loss) | 9901 | €44,415 | €56,031 | +€11,616 | +26.2% |
| Financial income | 75/76B | €3,922 | €4,380 | +€459 | +11.7% |
| Recurring financial income | 75 | €3,922 | €4,380 | +€459 | +11.7% |
| Financial charges | 65/66B | €7,457 | €5,517 | -€1,940 | -26.0% |
| Recurring financial charges | 65 | €7,457 | €5,517 | -€1,940 | -26.0% |
| Profit (loss) for the period before taxes | 9903 | €40,880 | €54,895 | +€14,015 | +34.3% |
| Income taxes | 67/77 | €10,993 | €15,489 | +€4,496 | +40.9% |
| Profit (loss) for the period | 9904 | €29,886 | €39,406 | +€9,519 | +31.9% |
| Profit (loss) for the period to be appropriated | 9905 | €29,886 | €39,406 | +€9,519 | +31.9% |
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 29 September 2026 via checked.be.