LEROY BEHEER: 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 BEHEER
Largest movements
- Current investments +€55,341
up €55,341 (+27.5%), from €201,241 to €256,583
- Cash -€45,262
down €45,262 (-84.5%), from €53,548 to €8,286
mainly Current investments (-€55,341) and Other debts (-€28,230)
- Receivables within one year +€18,073
up €18,073 (+5,477%), from €330 to €18,403
of which Other amounts receivable: +€18,403
- Tangible fixed assets -€18,063
down €18,063 (-8.6%), from €209,725 to €191,661
- Provisions +€35,000
new in 2025: €35,000
- Other debts -€28,230
no longer reported in 2025 (was €28,230)
- Reserves +€11,434
up €11,434 (+2.9%), from €394,878 to €406,312
- Accrued charges and deferred income -€9,384
down €9,384 (-93.5%), from €10,034 to €650
- Provisions +€35,000
new in 2025: €35,000
- Gross operating margin +€5,025
up €5,025 (+6.3%), from €79,732 to €84,757
- Financial income +€3,552
up €3,552 (+313%), from €1,135 to €4,688
- Financial charges -€1,220
down €1,220 (-50.2%), from €2,431 to €1,211
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 | €465,623 | €475,727 | +€10,104 | +2.2% |
| Fixed assets | 21/28 | €209,725 | €191,661 | -€18,063 | -8.6% |
| Tangible fixed assets | 22/27 | €209,725 | €191,661 | -€18,063 | -8.6% |
| Land and buildings | 22 | €209,725 | €191,661 | -€18,063 | -8.6% |
| Current assets | 29/58 | €255,899 | €284,066 | +€28,168 | +11.0% |
| Amounts receivable within one year | 40/41 | €330 | €18,403 | +€18,073 | +5,477% |
| Trade receivables | 40 | €330 | - | -€330 | |
| Other amounts receivable | 41 | - | €18,403 | +€18,403 | |
| Current investments | 50/53 | €201,241 | €256,583 | +€55,341 | +27.5% |
| Cash at bank and in hand | 54/58 | €53,548 | €8,286 | -€45,262 | -84.5% |
| Deferred charges and accrued income | 490/1 | €780 | €794 | +€15 | +1.9% |
| Total equity and liabilities | 10/49 | €465,623 | €475,727 | +€10,104 | +2.2% |
| Equity | 10/15 | €424,878 | €436,312 | +€11,434 | +2.7% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €394,878 | €406,312 | +€11,434 | +2.9% |
| Distributable reserves | 133 | €394,878 | €406,312 | +€11,434 | +2.9% |
| Provisions and deferred taxes | 16 | - | €35,000 | +€35,000 | |
| Provisions for liabilities and charges | 160/5 | - | €35,000 | +€35,000 | |
| Major repairs and maintenance | 162 | - | €35,000 | +€35,000 | |
| Amounts payable | 17/49 | €40,745 | €4,415 | -€36,330 | -89.2% |
| Amounts payable within one year | 42/48 | €30,712 | €3,765 | -€26,947 | -87.7% |
| Trade debts | 44 | €814 | €1,500 | +€687 | +84.4% |
| Suppliers | 440/4 | €814 | €1,500 | +€687 | +84.4% |
| Taxes, remuneration and social security | 45 | €1,669 | €2,265 | +€596 | +35.7% |
| Taxes | 450/3 | €1,669 | €2,265 | +€596 | +35.7% |
| Other amounts payable | 47/48 | €28,230 | - | -€28,230 | |
| Accrued charges and deferred income | 492/3 | €10,034 | €650 | -€9,384 | -93.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,688 | €18,063 | -€625 | -3.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €35,000 | +€35,000 | |
| Other operating charges | 640/8 | €6,528 | €6,733 | +€205 | +3.1% |
| Gross operating margin | 9900 | €79,732 | €84,757 | +€5,025 | +6.3% |
| Operating profit (loss) | 9901 | €54,516 | €24,961 | -€29,555 | -54.2% |
| Financial income | 75/76B | €1,135 | €4,688 | +€3,552 | +313% |
| Recurring financial income | 75 | €1,135 | €4,688 | +€3,552 | +313% |
| Financial charges | 65/66B | €2,431 | €1,211 | -€1,220 | -50.2% |
| Recurring financial charges | 65 | €2,431 | €1,211 | -€1,220 | -50.2% |
| Profit (loss) for the period before taxes | 9903 | €53,220 | €28,437 | -€24,783 | -46.6% |
| Income taxes | 67/77 | €16,967 | €17,003 | +€36 | +0.2% |
| Profit (loss) for the period | 9904 | €36,253 | €11,434 | -€24,819 | -68.5% |
| Profit (loss) for the period to be appropriated | 9905 | €36,253 | €11,434 | -€24,819 | -68.5% |
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 30 October 2026 via checked.be.