LEROY: 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.
LEROY
Largest movements
- Tangible fixed assets +€95,190
up €95,190 (+139%), from €68,265 to €163,454
of which Leasing and similar rights: +€89,199
- Receivables within one year +€57,863
up €57,863 (+491%), from €11,784 to €69,647
of which Trade receivables: +€46,603
- Cash -€34,839
down €34,839 (-85.3%), from €40,834 to €5,995
mainly Investment in fixed assets (net) (-€123,861) and Receivables within one year (-€57,863)
- Stocks and contracts +€10,158
up €10,158 (+4.5%), from €224,416 to €234,574
- Debts after one year +€54,192
up €54,192 (+214%), from €25,371 to €79,563
- Reserves +€36,000
up €36,000 (+39.0%), from €92,260 to €128,260
- Trade debts +€20,936
up €20,936 (+180%), from €11,623 to €32,559
- Current portion of long-term debt +€17,584
up €17,584 (+161%), from €10,906 to €28,490
- Staff costs +€25,681
new in 2025: €25,681
- Gross operating margin -€14,143
down €14,143 (-12.2%), from €115,773 to €101,630
- Depreciation +€12,789
up €12,789 (+80.5%), from €15,882 to €28,672
- Taxes -€10,284
down €10,284 (-40.1%), from €25,666 to €15,382
- Financial charges -€4,093
down €4,093 (-57.8%), from €7,083 to €2,990
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 | €348,555 | €480,678 | +€132,123 | +37.9% |
| Fixed assets | 21/28 | €70,496 | €165,685 | +€95,190 | +135% |
| Tangible fixed assets | 22/27 | €68,265 | €163,454 | +€95,190 | +139% |
| Plant, machinery and equipment | 23 | €58,963 | €68,404 | +€9,441 | +16.0% |
| Furniture and vehicles | 24 | €9,301 | €5,851 | -€3,450 | -37.1% |
| Leasing and similar rights | 25 | - | €89,199 | +€89,199 | |
| Financial fixed assets | 28 | €2,231 | €2,231 | = | 0.0% |
| Current assets | 29/58 | €278,059 | €314,993 | +€36,933 | +13.3% |
| Stocks and contracts in progress | 3 | €224,416 | €234,574 | +€10,158 | +4.5% |
| Stocks | 30/36 | €224,416 | €234,574 | +€10,158 | +4.5% |
| Amounts receivable within one year | 40/41 | €11,784 | €69,647 | +€57,863 | +491% |
| Trade receivables | 40 | €11,784 | €58,387 | +€46,603 | +395% |
| Other amounts receivable | 41 | - | €11,260 | +€11,260 | |
| Cash at bank and in hand | 54/58 | €40,834 | €5,995 | -€34,839 | -85.3% |
| Deferred charges and accrued income | 490/1 | €1,026 | €4,777 | +€3,752 | +366% |
| Total equity and liabilities | 10/49 | €348,555 | €480,678 | +€132,123 | +37.9% |
| Equity | 10/15 | €190,544 | €226,585 | +€36,041 | +18.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €92,260 | €128,260 | +€36,000 | +39.0% |
| Distributable reserves | 133 | €92,260 | €128,260 | +€36,000 | +39.0% |
| Profit (loss) carried forward | 14 | €79,684 | €79,725 | +€41 | +0.1% |
| Amounts payable | 17/49 | €158,010 | €254,093 | +€96,082 | +60.8% |
| Amounts payable after more than one year | 17 | €25,371 | €79,563 | +€54,192 | +214% |
| Financial debts | 170/4 | €25,371 | €79,563 | +€54,192 | +214% |
| Amounts payable within one year | 42/48 | €132,640 | €174,530 | +€41,890 | +31.6% |
| Current portion of amounts payable after more than one year | 42 | €10,906 | €28,490 | +€17,584 | +161% |
| Trade debts | 44 | €11,623 | €32,559 | +€20,936 | +180% |
| Suppliers | 440/4 | €11,623 | €32,559 | +€20,936 | +180% |
| Taxes, remuneration and social security | 45 | €43,634 | €46,832 | +€3,198 | +7.3% |
| Taxes | 450/3 | €29,334 | €29,098 | -€236 | -0.8% |
| Remuneration and social security | 454/9 | €14,300 | €17,734 | +€3,434 | +24.0% |
| Other amounts payable | 47/48 | €66,477 | €66,649 | +€172 | +0.3% |
| Remuneration, social security and pensions | 62 | - | €25,681 | +€25,681 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,882 | €28,672 | +€12,789 | +80.5% |
| Other operating charges | 640/8 | €1,039 | €930 | -€109 | -10.5% |
| Gross operating margin | 9900 | €115,773 | €101,630 | -€14,143 | -12.2% |
| Operating profit (loss) | 9901 | €98,851 | €46,348 | -€52,503 | -53.1% |
| Financial income | 75/76B | €5,809 | €8,064 | +€2,255 | +38.8% |
| Recurring financial income | 75 | €5,809 | €8,064 | +€2,255 | +38.8% |
| Financial charges | 65/66B | €7,083 | €2,990 | -€4,093 | -57.8% |
| Recurring financial charges | 65 | €7,083 | €2,990 | -€4,093 | -57.8% |
| Profit (loss) for the period before taxes | 9903 | €97,578 | €51,423 | -€46,155 | -47.3% |
| Income taxes | 67/77 | €25,666 | €15,382 | -€10,284 | -40.1% |
| Profit (loss) for the period | 9904 | €71,912 | €36,041 | -€35,871 | -49.9% |
| Profit (loss) for the period to be appropriated | 9905 | €71,912 | €36,041 | -€35,871 | -49.9% |
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 19 October 2026 via checked.be.