WARD LEURS: 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.
WARD LEURS
Largest movements
- Receivables within one year +€15,833
up €15,833 (+175%), from €9,030 to €24,863
of which Trade receivables: +€13,860
- Deferred charges and accrued income -€1,293
down €1,293 (-20.7%), from €6,259 to €4,966
- Cash -€809
down €809 (-14.4%), from €5,605 to €4,796
mainly Receivables within one year (-€15,833) and Other debts (-€1,135)
- Tangible fixed assets -€398
down €398 (-13.4%), from €2,961 to €2,563
- Reserves +€13,452
up €13,452 (+79.2%), from €16,979 to €30,431
- Other debts -€1,135
down €1,135 (-57.8%), from €1,961 to €827
- Trade debts +€1,015
new in 2025: €1,015
- Gross operating margin -€3,204
down €3,204 (-13.7%), from €23,450 to €20,246
- Financial charges +€1,136
up €1,136 (+154%), from €737 to €1,872
- Taxes -€773
down €773 (-14.9%), from €5,173 to €4,400
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 | €23,855 | €37,187 | +€13,332 | +55.9% |
| Fixed assets | 21/28 | €2,961 | €2,563 | -€398 | -13.4% |
| Tangible fixed assets | 22/27 | €2,961 | €2,563 | -€398 | -13.4% |
| Plant, machinery and equipment | 23 | €2,961 | €2,563 | -€398 | -13.4% |
| Current assets | 29/58 | €20,894 | €34,624 | +€13,730 | +65.7% |
| Amounts receivable within one year | 40/41 | €9,030 | €24,863 | +€15,833 | +175% |
| Trade receivables | 40 | €7,603 | €21,463 | +€13,860 | +182% |
| Other amounts receivable | 41 | €1,427 | €3,400 | +€1,973 | +138% |
| Cash at bank and in hand | 54/58 | €5,605 | €4,796 | -€809 | -14.4% |
| Deferred charges and accrued income | 490/1 | €6,259 | €4,966 | -€1,293 | -20.7% |
| Total equity and liabilities | 10/49 | €23,855 | €37,187 | +€13,332 | +55.9% |
| Equity | 10/15 | €19,979 | €33,431 | +€13,452 | +67.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €16,979 | €30,431 | +€13,452 | +79.2% |
| Distributable reserves | 133 | €16,979 | €30,431 | +€13,452 | +79.2% |
| Amounts payable | 17/49 | €3,876 | €3,756 | -€120 | -3.1% |
| Amounts payable within one year | 42/48 | €3,876 | €3,756 | -€120 | -3.1% |
| Trade debts | 44 | - | €1,015 | +€1,015 | |
| Suppliers | 440/4 | - | €1,015 | +€1,015 | |
| Taxes, remuneration and social security | 45 | €1,915 | €1,915 | = | 0.0% |
| Remuneration and social security | 454/9 | €1,915 | €1,915 | = | 0.0% |
| Other amounts payable | 47/48 | €1,961 | €827 | -€1,135 | -57.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €221 | €398 | +€177 | +79.8% |
| Other operating charges | 640/8 | €341 | €124 | -€217 | -63.6% |
| Gross operating margin | 9900 | €23,450 | €20,246 | -€3,204 | -13.7% |
| Operating profit (loss) | 9901 | €22,888 | €19,724 | -€3,164 | -13.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €737 | €1,872 | +€1,136 | +154% |
| Recurring financial charges | 65 | €737 | €1,872 | +€1,136 | +154% |
| Profit (loss) for the period before taxes | 9903 | €22,151 | €17,852 | -€4,299 | -19.4% |
| Income taxes | 67/77 | €5,173 | €4,400 | -€773 | -14.9% |
| Profit (loss) for the period | 9904 | €16,979 | €13,452 | -€3,526 | -20.8% |
| Profit (loss) for the period to be appropriated | 9905 | €16,979 | €13,452 | -€3,526 | -20.8% |
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 20 October 2026 via checked.be.