VINCENT LEERMIDDELEN: 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.
VINCENT LEERMIDDELEN
Largest movements
- Cash +€163,799
up €163,799 (+15.8%), from €1.0m to €1.2m
mainly Net result for the year (+€473,869) and Receivables within one year (+€118,745)
- Stocks and contracts +€153,912
up €153,912 (+44.3%), from €347,461 to €501,372
- Receivables within one year -€118,745
down €118,745 (-31.5%), from €376,725 to €257,980
of which Trade receivables: -€100,776
- Tangible fixed assets -€50,036
down €50,036 (-10.9%), from €458,290 to €408,254
of which Land and buildings: -€36,115
- Reserves +€222,869
up €222,869 (+10.9%), from €2.0m to €2.3m
of which Distributable reserves: +€222,869
- Trade debts -€59,082
down €59,082 (-52.0%), from €113,677 to €54,595
- Gross operating margin +€94,899
up €94,899 (+12.0%), from €792,791 to €887,690
- Taxes +€27,301
up €27,301 (+14.3%), from €191,206 to €218,507
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 | €2,235,380 | €2,390,311 | +€154,931 | +6.9% |
| Fixed assets | 21/28 | €460,290 | €408,254 | -€52,036 | -11.3% |
| Tangible fixed assets | 22/27 | €458,290 | €408,254 | -€50,036 | -10.9% |
| Land and buildings | 22 | €404,942 | €368,827 | -€36,115 | -8.9% |
| Plant, machinery and equipment | 23 | €5,848 | €5,188 | -€660 | -11.3% |
| Furniture and vehicles | 24 | €47,499 | €34,239 | -€13,260 | -27.9% |
| Financial fixed assets | 28 | €2,000 | €0 | -€2,000 | -100% |
| Current assets | 29/58 | €1,775,091 | €1,982,057 | +€206,966 | +11.7% |
| Stocks and contracts in progress | 3 | €347,461 | €501,372 | +€153,912 | +44.3% |
| Stocks | 30/36 | €347,461 | €501,372 | +€153,912 | +44.3% |
| Amounts receivable within one year | 40/41 | €376,725 | €257,980 | -€118,745 | -31.5% |
| Trade receivables | 40 | €346,400 | €245,623 | -€100,776 | -29.1% |
| Other amounts receivable | 41 | €30,325 | €12,357 | -€17,968 | -59.3% |
| Current investments | 50/53 | €13,000 | €21,000 | +€8,000 | +61.5% |
| Cash at bank and in hand | 54/58 | €1,033,770 | €1,197,569 | +€163,799 | +15.8% |
| Deferred charges and accrued income | 490/1 | €4,136 | €4,136 | = | 0.0% |
| Total equity and liabilities | 10/49 | €2,235,380 | €2,390,311 | +€154,931 | +6.9% |
| Equity | 10/15 | €2,057,657 | €2,280,526 | +€222,869 | +10.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €2,039,065 | €2,261,934 | +€222,869 | +10.9% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €0 | -€1,859 | -100% |
| Other | 1319 | - | €1,859 | +€1,859 | |
| Distributable reserves | 133 | €2,037,206 | €2,260,075 | +€222,869 | +10.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €177,724 | €109,785 | -€67,939 | -38.2% |
| Amounts payable within one year | 42/48 | €177,724 | €109,785 | -€67,939 | -38.2% |
| Trade debts | 44 | €113,677 | €54,595 | -€59,082 | -52.0% |
| Suppliers | 440/4 | €113,677 | €54,595 | -€59,082 | -52.0% |
| Taxes, remuneration and social security | 45 | €63,188 | €53,518 | -€9,669 | -15.3% |
| Taxes | 450/3 | €40,726 | €29,665 | -€11,061 | -27.2% |
| Remuneration and social security | 454/9 | €22,462 | €23,853 | +€1,391 | +6.2% |
| Other amounts payable | 47/48 | €859 | €1,672 | +€813 | +94.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €153,916 | €149,030 | -€4,887 | -3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,431 | €51,836 | -€3,595 | -6.5% |
| Other operating charges | 640/8 | €8,979 | €9,464 | +€485 | +5.4% |
| Gross operating margin | 9900 | €792,791 | €887,690 | +€94,899 | +12.0% |
| Operating profit (loss) | 9901 | €574,464 | €677,359 | +€102,896 | +17.9% |
| Financial income | 75/76B | €20,335 | €20,373 | +€39 | +0.2% |
| Recurring financial income | 75 | €20,335 | €20,373 | +€39 | +0.2% |
| Financial charges | 65/66B | €3,521 | €5,356 | +€1,835 | +52.1% |
| Recurring financial charges | 65 | €3,521 | €5,356 | +€1,835 | +52.1% |
| Profit (loss) for the period before taxes | 9903 | €591,277 | €692,376 | +€101,099 | +17.1% |
| Income taxes | 67/77 | €191,206 | €218,507 | +€27,301 | +14.3% |
| Profit (loss) for the period | 9904 | €400,071 | €473,869 | +€73,798 | +18.4% |
| Profit (loss) for the period to be appropriated | 9905 | €400,071 | €473,869 | +€73,798 | +18.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.