LERO: 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.
LERO
Largest movements
- Tangible fixed assets +€31,696
up €31,696 (+777%), from €4,080 to €35,776
of which Other tangible fixed assets: +€32,496
- Receivables within one year +€29,419
up €29,419 (+53.2%), from €55,312 to €84,731
of which Trade receivables: +€25,953
- Cash +€12,985
up €12,985 (+22.7%), from €57,193 to €70,178
mainly Net result for the year (+€47,630) and Trade debts (+€30,211)
- Reserves +€47,630
up €47,630 (+66.4%), from €71,784 to €119,414
- Trade debts +€30,211
up €30,211 (+1,501%), from €2,013 to €32,224
- Tax, wage and social debts -€2,008
down €2,008 (-5.7%), from €35,513 to €33,505
of which Taxes: -€2,008
- Gross operating margin +€46,978
up €46,978 (+188%), from €24,992 to €71,970
- Taxes +€7,899
up €7,899 (+149%), from €5,296 to €13,196
- Financial charges +€3,317
up €3,317 (+127%), from €2,611 to €5,928
- Depreciation +€2,092
up €2,092 (+215%), from €971 to €3,063
- Other operating charges +€2,031
up €2,031 (+723%), from €281 to €2,312
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 | €117,492 | €192,222 | +€74,730 | +63.6% |
| Fixed assets | 21/28 | €4,080 | €35,776 | +€31,696 | +777% |
| Tangible fixed assets | 22/27 | €4,080 | €35,776 | +€31,696 | +777% |
| Plant, machinery and equipment | 23 | €1,245 | €846 | -€398 | -32.0% |
| Furniture and vehicles | 24 | €1,303 | €901 | -€402 | -30.9% |
| Other tangible fixed assets | 26 | €1,533 | €34,029 | +€32,496 | +2,120% |
| Current assets | 29/58 | €113,412 | €156,446 | +€43,034 | +37.9% |
| Amounts receivable within one year | 40/41 | €55,312 | €84,731 | +€29,419 | +53.2% |
| Trade receivables | 40 | €49,245 | €75,198 | +€25,953 | +52.7% |
| Other amounts receivable | 41 | €6,067 | €9,533 | +€3,465 | +57.1% |
| Cash at bank and in hand | 54/58 | €57,193 | €70,178 | +€12,985 | +22.7% |
| Deferred charges and accrued income | 490/1 | €907 | €1,537 | +€630 | +69.5% |
| Total equity and liabilities | 10/49 | €117,492 | €192,222 | +€74,730 | +63.6% |
| Equity | 10/15 | €76,784 | €124,414 | +€47,630 | +62.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €71,784 | €119,414 | +€47,630 | +66.4% |
| Distributable reserves | 133 | €71,784 | €119,414 | +€47,630 | +66.4% |
| Amounts payable | 17/49 | €40,709 | €67,809 | +€27,100 | +66.6% |
| Amounts payable within one year | 42/48 | €37,526 | €65,729 | +€28,203 | +75.2% |
| Trade debts | 44 | €2,013 | €32,224 | +€30,211 | +1,501% |
| Suppliers | 440/4 | €2,013 | €32,224 | +€30,211 | +1,501% |
| Taxes, remuneration and social security | 45 | €35,513 | €33,505 | -€2,008 | -5.7% |
| Taxes | 450/3 | €32,816 | €30,808 | -€2,008 | -6.1% |
| Remuneration and social security | 454/9 | €2,697 | €2,697 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €3,183 | €2,080 | -€1,103 | -34.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €971 | €3,063 | +€2,092 | +215% |
| Other operating charges | 640/8 | €281 | €2,312 | +€2,031 | +723% |
| Gross operating margin | 9900 | €24,992 | €71,970 | +€46,978 | +188% |
| Operating profit (loss) | 9901 | €23,740 | €66,595 | +€42,855 | +181% |
| Financial income | 75/76B | €101 | €159 | +€58 | +57.8% |
| Recurring financial income | 75 | €101 | €159 | +€58 | +57.8% |
| Financial charges | 65/66B | €2,611 | €5,928 | +€3,317 | +127% |
| Recurring financial charges | 65 | €2,611 | €5,928 | +€3,317 | +127% |
| Profit (loss) for the period before taxes | 9903 | €21,229 | €60,826 | +€39,596 | +187% |
| Income taxes | 67/77 | €5,296 | €13,196 | +€7,899 | +149% |
| Profit (loss) for the period | 9904 | €15,933 | €47,630 | +€31,697 | +199% |
| Profit (loss) for the period to be appropriated | 9905 | €15,933 | €47,630 | +€31,697 | +199% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.