Tom Leyssens: 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 Leyssens
Largest movements
- Tangible fixed assets -€12,681
down €12,681 (-25.6%), from €49,500 to €36,819
of which Furniture and vehicles: -€12,816
- Receivables within one year -€10,446
down €10,446 (-24.0%), from €43,445 to €32,999
of which Other amounts receivable: -€5,430
- Cash +€3,461
up €3,461 (+22.6%), from €15,340 to €18,801
mainly Trade debts (+€19,363) and Depreciation (+€14,581)
- Trade debts +€19,363
up €19,363 (+173%), from €11,186 to €30,549
- Other debts -€15,058
down €15,058 (-88.5%), from €17,014 to €1,956
- Tax, wage and social debts -€10,275
down €10,275 (-96.0%), from €10,709 to €434
- Current portion of long-term debt -€5,016
down €5,016 (-56.7%), from €8,843 to €3,826
- Debts after one year -€3,840
down €3,840 (-23.6%), from €16,300 to €12,460
- Staff costs -€12,865
no longer reported in 2025 (was €12,865)
- Gross operating margin -€12,234
down €12,234 (-44.3%), from €27,602 to €15,368
- Depreciation +€2,569
up €2,569 (+21.4%), from €12,012 to €14,581
- Other operating charges -€891
down €891 (-26.7%), from €3,338 to €2,446
- Taxes -€616
no longer reported in 2025 (was €616)
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 | €108,635 | €88,969 | -€19,666 | -18.1% |
| Fixed assets | 21/28 | €49,850 | €37,169 | -€12,681 | -25.4% |
| Tangible fixed assets | 22/27 | €49,500 | €36,819 | -€12,681 | -25.6% |
| Plant, machinery and equipment | 23 | €2,717 | €2,852 | +€135 | +5.0% |
| Furniture and vehicles | 24 | €46,783 | €33,967 | -€12,816 | -27.4% |
| Financial fixed assets | 28 | €350 | €350 | = | 0.0% |
| Current assets | 29/58 | €58,785 | €51,799 | -€6,985 | -11.9% |
| Amounts receivable within one year | 40/41 | €43,445 | €32,999 | -€10,446 | -24.0% |
| Trade receivables | 40 | €32,194 | €27,179 | -€5,016 | -15.6% |
| Other amounts receivable | 41 | €11,250 | €5,820 | -€5,430 | -48.3% |
| Cash at bank and in hand | 54/58 | €15,340 | €18,801 | +€3,461 | +22.6% |
| Total equity and liabilities | 10/49 | €108,635 | €88,969 | -€19,666 | -18.1% |
| Equity | 10/15 | €43,259 | €39,744 | -€3,515 | -8.1% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €36,259 | €32,744 | -€3,515 | -9.7% |
| Distributable reserves | 133 | €36,259 | €32,744 | -€3,515 | -9.7% |
| Amounts payable | 17/49 | €65,376 | €49,225 | -€16,151 | -24.7% |
| Amounts payable after more than one year | 17 | €16,300 | €12,460 | -€3,840 | -23.6% |
| Financial debts | 170/4 | €16,300 | €12,460 | -€3,840 | -23.6% |
| Amounts payable within one year | 42/48 | €49,076 | €36,765 | -€12,311 | -25.1% |
| Current portion of amounts payable after more than one year | 42 | €8,843 | €3,826 | -€5,016 | -56.7% |
| Trade debts | 44 | €11,186 | €30,549 | +€19,363 | +173% |
| Suppliers | 440/4 | €11,186 | €30,549 | +€19,363 | +173% |
| Advances received on contracts in progress | 46 | €1,325 | - | -€1,325 | |
| Taxes, remuneration and social security | 45 | €10,709 | €434 | -€10,275 | -96.0% |
| Taxes | 450/3 | €10,709 | €434 | -€10,275 | -96.0% |
| Other amounts payable | 47/48 | €17,014 | €1,956 | -€15,058 | -88.5% |
| Remuneration, social security and pensions | 62 | €12,865 | - | -€12,865 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,012 | €14,581 | +€2,569 | +21.4% |
| Other operating charges | 640/8 | €3,338 | €2,446 | -€891 | -26.7% |
| Gross operating margin | 9900 | €27,602 | €15,368 | -€12,234 | -44.3% |
| Operating profit (loss) | 9901 | -€612 | -€1,659 | -€1,047 | -171% |
| Financial income | 75/76B | €115 | €57 | -€58 | -50.2% |
| Recurring financial income | 75 | €115 | €57 | -€58 | -50.2% |
| Financial charges | 65/66B | €1,548 | €1,913 | +€365 | +23.6% |
| Recurring financial charges | 65 | €1,548 | €1,913 | +€365 | +23.6% |
| Profit (loss) for the period before taxes | 9903 | -€2,046 | -€3,515 | -€1,469 | -71.8% |
| Income taxes | 67/77 | €616 | - | -€616 | |
| Profit (loss) for the period | 9904 | -€2,662 | -€3,515 | -€853 | -32.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,662 | -€3,515 | -€853 | -32.1% |
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 18 October 2026 via checked.be.