Sofie LEEMAN: 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.
Sofie LEEMAN
Largest movements
- Tangible fixed assets -€126,518
down €126,518 (-26.9%), from €470,915 to €344,397
of which Land and buildings: -€79,242
- Intangible fixed assets -€71,080
down €71,080 (-18.2%), from €390,573 to €319,494
- Cash -€60,168
down €60,168 (-50.6%), from €118,879 to €58,711
mainly Contributions, distributions and other (-€665,000) and Debts after one year (-€150,999)
- Deferred charges and accrued income +€26,928
up €26,928 (+27.3%), from €98,537 to €125,465
- Profit (loss) carried forward -€329,327
down €329,327 (-96.0%), from €343,161 to €13,834
- Other debts +€259,764
up €259,764 (+2,248%), from €11,558 to €271,321
- Debts after one year -€150,999
down €150,999 (-33.2%), from €454,450 to €303,451
- Current portion of long-term debt -€12,460
down €12,460 (-6.8%), from €182,638 to €170,178
- Gross operating margin -€48,860
down €48,860 (-4.3%), from €1.1m to €1.1m
- Depreciation -€29,934
down €29,934 (-12.7%), from €235,586 to €205,652
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 | €1,085,045 | €852,740 | -€232,305 | -21.4% |
| Fixed assets | 21/28 | €861,489 | €663,891 | -€197,598 | -22.9% |
| Intangible fixed assets | 21 | €390,573 | €319,494 | -€71,080 | -18.2% |
| Tangible fixed assets | 22/27 | €470,915 | €344,397 | -€126,518 | -26.9% |
| Land and buildings | 22 | €302,974 | €223,732 | -€79,242 | -26.2% |
| Furniture and vehicles | 24 | €49,650 | €10,874 | -€38,776 | -78.1% |
| Leasing and similar rights | 25 | €118,292 | €109,792 | -€8,500 | -7.2% |
| Current assets | 29/58 | €223,556 | €188,850 | -€34,707 | -15.5% |
| Amounts receivable within one year | 40/41 | €6,140 | €4,673 | -€1,467 | -23.9% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €6,140 | €4,673 | -€1,467 | -23.9% |
| Cash at bank and in hand | 54/58 | €118,879 | €58,711 | -€60,168 | -50.6% |
| Deferred charges and accrued income | 490/1 | €98,537 | €125,465 | +€26,928 | +27.3% |
| Total equity and liabilities | 10/49 | €1,085,045 | €852,740 | -€232,305 | -21.4% |
| Equity | 10/15 | €361,761 | €32,434 | -€329,327 | -91.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €343,161 | €13,834 | -€329,327 | -96.0% |
| Amounts payable | 17/49 | €723,284 | €820,306 | +€97,022 | +13.4% |
| Amounts payable after more than one year | 17 | €454,450 | €303,451 | -€150,999 | -33.2% |
| Financial debts | 170/4 | €454,450 | €303,451 | -€150,999 | -33.2% |
| Amounts payable within one year | 42/48 | €268,027 | €516,855 | +€248,828 | +92.8% |
| Current portion of amounts payable after more than one year | 42 | €182,638 | €170,178 | -€12,460 | -6.8% |
| Trade debts | 44 | €30,727 | €24,310 | -€6,417 | -20.9% |
| Suppliers | 440/4 | €30,727 | €24,310 | -€6,417 | -20.9% |
| Taxes, remuneration and social security | 45 | €43,105 | €51,046 | +€7,941 | +18.4% |
| Taxes | 450/3 | €0 | €9,644 | +€9,644 | |
| Remuneration and social security | 454/9 | €43,105 | €41,402 | -€1,703 | -4.0% |
| Other amounts payable | 47/48 | €11,558 | €271,321 | +€259,764 | +2,248% |
| Accrued charges and deferred income | 492/3 | €807 | €0 | -€807 | -100% |
| Remuneration, social security and pensions | 62 | €416,788 | €409,871 | -€6,917 | -1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €235,586 | €205,652 | -€29,934 | -12.7% |
| Other operating charges | 640/8 | €1,505 | €1,557 | +€52 | +3.4% |
| Gross operating margin | 9900 | €1,125,010 | €1,076,150 | -€48,860 | -4.3% |
| Operating profit (loss) | 9901 | €471,130 | €459,069 | -€12,060 | -2.6% |
| Financial income | 75/76B | €440 | €563 | +€122 | +27.8% |
| Recurring financial income | 75 | €440 | €563 | +€122 | +27.8% |
| Financial charges | 65/66B | €12,704 | €14,148 | +€1,443 | +11.4% |
| Recurring financial charges | 65 | €12,704 | €14,148 | +€1,443 | +11.4% |
| Profit (loss) for the period before taxes | 9903 | €458,865 | €445,485 | -€13,381 | -2.9% |
| Income taxes | 67/77 | €109,414 | €109,812 | +€398 | +0.4% |
| Profit (loss) for the period | 9904 | €349,452 | €335,673 | -€13,779 | -3.9% |
| Profit (loss) for the period to be appropriated | 9905 | €349,452 | €335,673 | -€13,779 | -3.9% |
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 28 October 2026 via checked.be.