LEECO: 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.
LEECO
Largest movements
- Receivables within one year +€148,901
up €148,901 (+276.3%), from €53,900 to €202,800
of which Trade receivables: +€142,491
- Cash +€64,693
up €64,693 (+37.7%), from €171,622 to €236,315
mainly Tax, wage and social debts (+€81,361) and Trade debts (+€72,435)
- Tangible fixed assets -€24,737
down €24,737 (-35.6%), from €69,572 to €44,835
of which Furniture and vehicles: -€27,200
- Deferred charges and accrued income +€9,447
up €9,447 (+2621.8%), from €360 to €9,808
- Tax, wage and social debts +€81,361
up €81,361 (+202.6%), from €40,166 to €121,527
of which Taxes: +€82,390
- Trade debts +€72,435
up €72,435 (+229.7%), from €31,540 to €103,975
- Reserves +€54,321
up €54,321 (+104.9%), from €51,761 to €106,082
- Debts after one year -€18,432
down €18,432 (-13.7%), from €134,099 to €115,668
- Other debts +€10,822
up €10,822 (+239.6%), from €4,517 to €15,339
- Gross operating margin +€72,556
up €72,556 (+66.3%), from €109,398 to €181,954
- Staff costs +€34,644
up €34,644 (+245.1%), from €14,136 to €48,781
- Depreciation -€13,081
down €13,081 (-53.0%), from €24,698 to €11,618
- Taxes +€8,398
up €8,398 (+65.7%), from €12,776 to €21,174
- Financial charges -€3,044
down €3,044 (-24.5%), from €12,429 to €9,385
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 | €322,935 | €515,940 | +€193,006 | +59.8% |
| Fixed assets | 21/28 | €82,910 | €57,217 | -€25,693 | -31.0% |
| Intangible fixed assets | 21 | €6,088 | €5,132 | -€956 | -15.7% |
| Tangible fixed assets | 22/27 | €69,572 | €44,835 | -€24,737 | -35.6% |
| Land and buildings | 22 | €3,608 | €7,412 | +€3,803 | +105.4% |
| Plant, machinery and equipment | 23 | €9,869 | €8,529 | -€1,340 | -13.6% |
| Furniture and vehicles | 24 | €56,095 | €28,894 | -€27,200 | -48.5% |
| Financial fixed assets | 28 | €7,250 | €7,250 | = | 0.0% |
| Current assets | 29/58 | €240,025 | €458,723 | +€218,698 | +91.1% |
| Stocks and contracts in progress | 3 | €14,143 | €9,800 | -€4,343 | -30.7% |
| Stocks | 30/36 | €14,143 | €9,800 | -€4,343 | -30.7% |
| Amounts receivable within one year | 40/41 | €53,900 | €202,800 | +€148,901 | +276.3% |
| Trade receivables | 40 | €50,502 | €192,992 | +€142,491 | +282.2% |
| Other amounts receivable | 41 | €3,398 | €9,808 | +€6,410 | +188.6% |
| Cash at bank and in hand | 54/58 | €171,622 | €236,315 | +€64,693 | +37.7% |
| Deferred charges and accrued income | 490/1 | €360 | €9,808 | +€9,447 | +2621.8% |
| Total equity and liabilities | 10/49 | €322,935 | €515,940 | +€193,006 | +59.8% |
| Equity | 10/15 | €85,026 | €139,347 | +€54,321 | +63.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €51,761 | €106,082 | +€54,321 | +104.9% |
| Distributable reserves | 133 | €51,761 | €106,082 | +€54,321 | +104.9% |
| Profit (loss) carried forward | 14 | €14,673 | €14,673 | = | 0.0% |
| Amounts payable | 17/49 | €237,908 | €376,593 | +€138,685 | +58.3% |
| Amounts payable after more than one year | 17 | €134,099 | €115,668 | -€18,432 | -13.7% |
| Financial debts | 170/4 | €134,099 | €115,668 | -€18,432 | -13.7% |
| Amounts payable within one year | 42/48 | €101,842 | €259,274 | +€157,431 | +154.6% |
| Current portion of amounts payable after more than one year | 42 | €23,702 | €18,432 | -€5,270 | -22.2% |
| Financial debts | 43 | €1,917 | €0 | -€1,917 | -100.0% |
| Credit institutions | 430/8 | €1,917 | €0 | -€1,917 | -100.0% |
| Trade debts | 44 | €31,540 | €103,975 | +€72,435 | +229.7% |
| Suppliers | 440/4 | €31,540 | €103,975 | +€72,435 | +229.7% |
| Taxes, remuneration and social security | 45 | €40,166 | €121,527 | +€81,361 | +202.6% |
| Taxes | 450/3 | €36,380 | €118,770 | +€82,390 | +226.5% |
| Remuneration and social security | 454/9 | €3,786 | €2,757 | -€1,029 | -27.2% |
| Other amounts payable | 47/48 | €4,517 | €15,339 | +€10,822 | +239.6% |
| Accrued charges and deferred income | 492/3 | €1,967 | €1,651 | -€315 | -16.0% |
| Non-recurring operating income | 76A | €7,532 | €12,347 | +€4,816 | +63.9% |
| Remuneration, social security and pensions | 62 | €14,136 | €48,781 | +€34,644 | +245.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,698 | €11,618 | -€13,081 | -53.0% |
| Other operating charges | 640/8 | €8,778 | €11,236 | +€2,458 | +28.0% |
| Non-recurring operating charges | 66A | €160 | €10,256 | +€10,096 | +6316.6% |
| Gross operating margin | 9900 | €109,398 | €181,954 | +€72,556 | +66.3% |
| Operating profit (loss) | 9901 | €61,626 | €100,064 | +€38,438 | +62.4% |
| Financial income | 75/76B | €1 | €156 | +€155 | +17184.4% |
| Recurring financial income | 75 | €1 | €156 | +€155 | +17184.4% |
| Financial charges | 65/66B | €12,429 | €9,385 | -€3,044 | -24.5% |
| Recurring financial charges | 65 | €12,429 | €9,385 | -€3,044 | -24.5% |
| Profit (loss) for the period before taxes | 9903 | €49,197 | €90,834 | +€41,637 | +84.6% |
| Income taxes | 67/77 | €12,776 | €21,174 | +€8,398 | +65.7% |
| Profit (loss) for the period | 9904 | €36,422 | €69,660 | +€33,239 | +91.3% |
| Profit (loss) for the period to be appropriated | 9905 | €36,422 | €69,660 | +€33,239 | +91.3% |
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 9 October 2026 via checked.be.