YVES LEFFELAER: 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.
YVES LEFFELAER
Largest movements
- Current investments -€30,404
down €30,404 (-19.4%), from €156,728 to €126,324
- Receivables within one year -€22,681
down €22,681 (-92.6%), from €24,504 to €1,822
of which Trade receivables: -€20,328
- Tangible fixed assets -€11,225
down €11,225 (-76.1%), from €14,751 to €3,525
- Cash +€2,885
up €2,885 (+6.9%), from €41,571 to €44,456
mainly Current investments (+€30,404) and Receivables within one year (+€22,681)
- Reserves -€53,743
down €53,743 (-25.1%), from €214,454 to €160,711
- Current portion of long-term debt -€12,240
down €12,240 (-100%), from €12,240 to €0
- Profit (loss) carried forward +€11,740
up €11,740, from €0 to €11,740
- Tax, wage and social debts -€7,728
down €7,728 (-99.9%), from €7,734 to €7
- Gross operating margin -€106,948
down €106,948, from €104,892 to -€2,056
- Financial income +€25,813
up €25,813 (+985%), from €2,620 to €28,433
- Taxes -€14,543
down €14,543 (-98.3%), from €14,788 to €245
- Depreciation -€2,381
down €2,381 (-14.8%), from €16,067 to €13,686
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 | €239,712 | €177,874 | -€61,838 | -25.8% |
| Fixed assets | 21/28 | €14,751 | €3,525 | -€11,225 | -76.1% |
| Tangible fixed assets | 22/27 | €14,751 | €3,525 | -€11,225 | -76.1% |
| Furniture and vehicles | 24 | €14,751 | €3,525 | -€11,225 | -76.1% |
| Current assets | 29/58 | €224,962 | €174,349 | -€50,613 | -22.5% |
| Amounts receivable within one year | 40/41 | €24,504 | €1,822 | -€22,681 | -92.6% |
| Trade receivables | 40 | €20,328 | €0 | -€20,328 | -100% |
| Other amounts receivable | 41 | €4,176 | €1,822 | -€2,353 | -56.4% |
| Current investments | 50/53 | €156,728 | €126,324 | -€30,404 | -19.4% |
| Cash at bank and in hand | 54/58 | €41,571 | €44,456 | +€2,885 | +6.9% |
| Deferred charges and accrued income | 490/1 | €2,159 | €1,746 | -€413 | -19.1% |
| Total equity and liabilities | 10/49 | €239,712 | €177,874 | -€61,838 | -25.8% |
| Equity | 10/15 | €214,454 | €172,451 | -€42,003 | -19.6% |
| Reserves | 13 | €214,454 | €160,711 | -€53,743 | -25.1% |
| Distributable reserves | 133 | €214,454 | €160,711 | -€53,743 | -25.1% |
| Profit (loss) carried forward | 14 | €0 | €11,740 | +€11,740 | |
| Amounts payable | 17/49 | €25,258 | €5,423 | -€19,835 | -78.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €23,899 | €4,036 | -€19,863 | -83.1% |
| Current portion of amounts payable after more than one year | 42 | €12,240 | €0 | -€12,240 | -100% |
| Trade debts | 44 | €922 | €1,026 | +€105 | +11.3% |
| Suppliers | 440/4 | €922 | €1,026 | +€105 | +11.3% |
| Taxes, remuneration and social security | 45 | €7,734 | €7 | -€7,728 | -99.9% |
| Taxes | 450/3 | €7,734 | €7 | -€7,728 | -99.9% |
| Other amounts payable | 47/48 | €3,003 | €3,003 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,359 | €1,387 | +€28 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,067 | €13,686 | -€2,381 | -14.8% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €104,892 | -€2,056 | -€106,948 | |
| Operating profit (loss) | 9901 | €88,320 | -€16,262 | -€104,582 | |
| Financial income | 75/76B | €2,620 | €28,433 | +€25,813 | +985% |
| Recurring financial income | 75 | €2,620 | €28,433 | +€25,813 | +985% |
| Financial charges | 65/66B | €340 | €185 | -€154 | -45.4% |
| Recurring financial charges | 65 | €340 | €185 | -€154 | -45.4% |
| Profit (loss) for the period before taxes | 9903 | €90,600 | €11,986 | -€78,615 | -86.8% |
| Income taxes | 67/77 | €14,788 | €245 | -€14,543 | -98.3% |
| Profit (loss) for the period | 9904 | €75,812 | €11,740 | -€64,072 | -84.5% |
| Profit (loss) for the period to be appropriated | 9905 | €75,812 | €11,740 | -€64,072 | -84.5% |
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 31 October 2026 via checked.be.