LEUVEN BEARS: what changed
LEUVEN BEARS
Largest movements
- Receivables within one year +€173,981
up €173,981 (+324%), from €53,780 to €227,761
of which Trade receivables: +€189,560
- Deferred charges and accrued income -€120,578
down €120,578 (-70.4%), from €171,256 to €50,678
- Tangible fixed assets -€19,661
down €19,661 (-36.5%), from €53,880 to €34,219
of which Plant, machinery and equipment: -€11,960
- Cash -€9,651
down €9,651 (-13.9%), from €69,401 to €59,750
mainly Receivables within one year (-€173,981) and Debts after one year (-€52,721)
- Accrued charges and deferred income +€91,085
up €91,085 (+191%), from €47,564 to €138,649
- Debts after one year -€52,721
down €52,721 (-4.0%), from €1.3m to €1.3m
of which Financial debts: -€52,721
- Debts within one year -€8,584
down €8,584 (-1.5%), from €590,674 to €582,090
of which Trade debts: -€223,893
- Profit (loss) carried forward -€5,676
down €5,676 (-0.3%), from -€1.7m to -€1.7m
- Staff costs -€776,024
down €776,024 (-88.2%), from €879,862 to €103,838
- Gross operating margin -€572,459
down €572,459 (-79.2%), from €722,737 to €150,278
- Other operating charges -€10,310
down €10,310 (-85.4%), from €12,071 to €1,761
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €362,005 | €386,108 | +€24,103 | +6.7% |
| Fixed assets | 21/28 | €63,831 | €44,182 | -€19,649 | -30.8% |
| Tangible fixed assets | 22/27 | €53,880 | €34,219 | -€19,661 | -36.5% |
| Plant, machinery and equipment | 23 | €30,989 | €19,029 | -€11,960 | -38.6% |
| Furniture and vehicles | 24 | €22,891 | €15,190 | -€7,701 | -33.6% |
| Financial fixed assets | 28 | €9,951 | €9,963 | +€12 | +0.1% |
| Current assets | 29/58 | €298,174 | €341,926 | +€43,752 | +14.7% |
| Stocks and contracts in progress | 3 | €3,737 | €3,737 | = | 0.0% |
| Stocks | 30/36 | €3,737 | €3,737 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €53,780 | €227,761 | +€173,981 | +324% |
| Trade receivables | 40 | €37,395 | €226,955 | +€189,560 | +507% |
| Other amounts receivable | 41 | €16,385 | €806 | -€15,579 | -95.1% |
| Cash at bank and in hand | 54/58 | €69,401 | €59,750 | -€9,651 | -13.9% |
| Deferred charges and accrued income | 490/1 | €171,256 | €50,678 | -€120,578 | -70.4% |
| Total equity and liabilities | 10/49 | €362,005 | €386,108 | +€24,103 | +6.7% |
| Equity | 10/15 | -€1,585,124 | -€1,590,801 | -€5,677 | -0.4% |
| Contributions | 10/11 | €99,652 | €99,651 | -€1 | 0.0% |
| Capital | 10 | €99,652 | €99,651 | -€1 | 0.0% |
| Profit (loss) carried forward | 14 | -€1,684,776 | -€1,690,452 | -€5,676 | -0.3% |
| Amounts payable | 17/49 | €1,947,129 | €1,976,909 | +€29,780 | +1.5% |
| Amounts payable after more than one year | 17 | €1,308,891 | €1,256,170 | -€52,721 | -4.0% |
| Financial debts | 170/4 | €347,591 | €294,870 | -€52,721 | -15.2% |
| Other amounts payable | 178/9 | €961,300 | €961,300 | = | 0.0% |
| Amounts payable within one year | 42/48 | €590,674 | €582,090 | -€8,584 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €52,199 | €52,721 | +€522 | +1.0% |
| Trade debts | 44 | €424,188 | €200,295 | -€223,893 | -52.8% |
| Suppliers | 440/4 | €424,188 | €200,295 | -€223,893 | -52.8% |
| Advances received on contracts in progress | 46 | €2,227 | - | -€2,227 | |
| Taxes, remuneration and social security | 45 | €39,442 | €36,038 | -€3,404 | -8.6% |
| Taxes | 450/3 | €1,676 | €6,531 | +€4,855 | +290% |
| Remuneration and social security | 454/9 | €37,766 | €29,507 | -€8,259 | -21.9% |
| Accrued charges and deferred income | 492/3 | €47,564 | €138,649 | +€91,085 | +191% |
| Remuneration, social security and pensions | 62 | €879,862 | €103,838 | -€776,024 | -88.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,831 | €27,005 | +€174 | +0.6% |
| Other operating charges | 640/8 | €12,071 | €1,761 | -€10,310 | -85.4% |
| Gross operating margin | 9900 | €722,737 | €150,278 | -€572,459 | -79.2% |
| Operating profit (loss) | 9901 | -€196,027 | €17,674 | +€213,701 | |
| Financial income | 75/76B | €549 | €140 | -€409 | -74.5% |
| Recurring financial income | 75 | €549 | €140 | -€409 | -74.5% |
| Financial charges | 65/66B | €21,206 | €21,913 | +€707 | +3.3% |
| Recurring financial charges | 65 | €21,206 | €21,913 | +€707 | +3.3% |
| Profit (loss) for the period before taxes | 9903 | -€216,684 | -€4,099 | +€212,585 | +98.1% |
| Income taxes | 67/77 | €2,041 | €1,577 | -€464 | -22.7% |
| Profit (loss) for the period | 9904 | -€218,725 | -€5,676 | +€213,049 | +97.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€218,725 | -€5,676 | +€213,049 | +97.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.