Tom Leemans: 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.
Tom Leemans
Largest movements
- Cash +€34,831
up €34,831 (+136.8%), from €25,470 to €60,301
mainly Net result for the year (+€123,848) and Other debts (+€85,888)
- Tangible fixed assets -€7,651
down €7,651 (-54.0%), from €14,166 to €6,515
of which Furniture and vehicles: -€7,155
- Deferred charges and accrued income +€3,362
up €3,362 (+10.0%), from €33,733 to €37,094
- Other debts +€85,888
up €85,888 (+81.8%), from €105,007 to €190,895
- Reserves -€57,350
no longer reported in 2025 (was €57,350)
- Tax, wage and social debts +€13,646
up €13,646 (+882.1%), from €1,547 to €15,194
- Debts after one year -€11,250
down €11,250 (-36.7%), from €30,625 to €19,375
- Gross operating margin +€33,506
up €33,506 (+22.4%), from €149,272 to €182,778
- Taxes +€18,577
up €18,577 (+58.7%), from €31,666 to €50,243
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.
Cash bridge derived
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 | €206,822 | €237,363 | +€30,541 | +14.8% |
| Fixed assets | 21/28 | €14,166 | €6,515 | -€7,651 | -54.0% |
| Tangible fixed assets | 22/27 | €14,166 | €6,515 | -€7,651 | -54.0% |
| Plant, machinery and equipment | 23 | €1,716 | €1,219 | -€496 | -28.9% |
| Furniture and vehicles | 24 | €12,451 | €5,296 | -€7,155 | -57.5% |
| Current assets | 29/58 | €192,656 | €230,848 | +€38,192 | +19.8% |
| Amounts receivable within one year | 40/41 | €133,453 | €133,453 | = | 0.0% |
| Other amounts receivable | 41 | €133,453 | €133,453 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €25,470 | €60,301 | +€34,831 | +136.8% |
| Deferred charges and accrued income | 490/1 | €33,733 | €37,094 | +€3,362 | +10.0% |
| Total equity and liabilities | 10/49 | €206,822 | €237,363 | +€30,541 | +14.8% |
| Equity | 10/15 | €57,850 | €500 | -€57,350 | -99.1% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €57,350 | - | -€57,350 | |
| Distributable reserves | 133 | €57,350 | - | -€57,350 | |
| Amounts payable | 17/49 | €148,973 | €236,863 | +€87,891 | +59.0% |
| Amounts payable after more than one year | 17 | €30,625 | €19,375 | -€11,250 | -36.7% |
| Financial debts | 170/4 | €30,625 | €19,375 | -€11,250 | -36.7% |
| Amounts payable within one year | 42/48 | €118,348 | €217,488 | +€99,141 | +83.8% |
| Current portion of amounts payable after more than one year | 42 | €11,250 | €11,250 | = | 0.0% |
| Trade debts | 44 | €543 | €150 | -€394 | -72.4% |
| Suppliers | 440/4 | €543 | €150 | -€394 | -72.4% |
| Taxes, remuneration and social security | 45 | €1,547 | €15,194 | +€13,646 | +882.1% |
| Taxes | 450/3 | €1,547 | €15,194 | +€13,646 | +882.1% |
| Other amounts payable | 47/48 | €105,007 | €190,895 | +€85,888 | +81.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,491 | €7,651 | -€840 | -9.9% |
| Other operating charges | 640/8 | €953 | €992 | +€39 | +4.1% |
| Gross operating margin | 9900 | €149,272 | €182,778 | +€33,506 | +22.4% |
| Operating profit (loss) | 9901 | €139,827 | €174,135 | +€34,308 | +24.5% |
| Financial income | 75/76B | - | €15 | +€15 | |
| Recurring financial income | 75 | - | €15 | +€15 | |
| Financial charges | 65/66B | €48 | €60 | +€12 | +25.3% |
| Recurring financial charges | 65 | €48 | €60 | +€12 | +25.3% |
| Profit (loss) for the period before taxes | 9903 | €139,779 | €174,090 | +€34,311 | +24.5% |
| Income taxes | 67/77 | €31,666 | €50,243 | +€18,577 | +58.7% |
| Profit (loss) for the period | 9904 | €108,114 | €123,848 | +€15,734 | +14.6% |
| Profit (loss) for the period to be appropriated | 9905 | €108,114 | €123,848 | +€15,734 | +14.6% |
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 12 October 2026 via checked.be.