ANDRE LENGLER: 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.
ANDRE LENGLER
Largest movements
- Stocks and contracts +€31,443
up €31,443 (+6.7%), from €471,794 to €503,237
- Cash -€28,790
down €28,790 (-3.2%), from €886,802 to €858,012
mainly Contributions, distributions and other (-€202,000) and Stocks and contracts (-€31,443)
- Receivables within one year +€21,029
up €21,029 (+24.4%), from €86,018 to €107,048
- Tangible fixed assets +€17,445
up €17,445 (+42.4%), from €41,122 to €58,567
of which Furniture and vehicles: +€26,583
- Other debts +€57,000
up €57,000 (+37.9%), from €150,458 to €207,458
- Tax, wage and social debts +€31,698
up €31,698 (+97.2%), from €32,612 to €64,310
of which Taxes: +€30,119
- Reserves -€26,000
down €26,000 (-2.2%), from €1.2m to €1.2m
- Trade debts -€21,609
down €21,609 (-45.1%), from €47,871 to €26,262
- Gross operating margin -€105,970
down €105,970 (-26.5%), from €399,861 to €293,891
- Taxes -€24,735
down €24,735 (-24.6%), from €100,632 to €75,897
- Staff costs -€10,260
down €10,260 (-23.7%), from €43,323 to €33,063
- Write-downs -€9,981
down €9,981, from €8,002 to -€1,979
- Financial income +€8,097
up €8,097 (+118%), from €6,837 to €14,934
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 | €1,489,161 | €1,530,721 | +€41,560 | +2.8% |
| Fixed assets | 21/28 | €43,312 | €60,756 | +€17,445 | +40.3% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €41,122 | €58,567 | +€17,445 | +42.4% |
| Land and buildings | 22 | €17,377 | €13,822 | -€3,555 | -20.5% |
| Plant, machinery and equipment | 23 | €20,710 | €15,127 | -€5,583 | -27.0% |
| Furniture and vehicles | 24 | €3,035 | €29,618 | +€26,583 | +876% |
| Financial fixed assets | 28 | €2,190 | €2,190 | = | 0.0% |
| Current assets | 29/58 | €1,445,850 | €1,469,965 | +€24,115 | +1.7% |
| Stocks and contracts in progress | 3 | €471,794 | €503,237 | +€31,443 | +6.7% |
| Stocks | 30/36 | €471,794 | €503,237 | +€31,443 | +6.7% |
| Amounts receivable within one year | 40/41 | €86,018 | €107,048 | +€21,029 | +24.4% |
| Trade receivables | 40 | €86,018 | €107,048 | +€21,029 | +24.4% |
| Cash at bank and in hand | 54/58 | €886,802 | €858,012 | -€28,790 | -3.2% |
| Deferred charges and accrued income | 490/1 | €1,236 | €1,669 | +€434 | +35.1% |
| Total equity and liabilities | 10/49 | €1,489,161 | €1,530,721 | +€41,560 | +2.8% |
| Equity | 10/15 | €1,258,220 | €1,232,691 | -€25,529 | -2.0% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €1,179,900 | €1,153,900 | -€26,000 | -2.2% |
| Distributable reserves | 133 | €1,179,900 | €1,153,900 | -€26,000 | -2.2% |
| Profit (loss) carried forward | 14 | €59,320 | €59,791 | +€471 | +0.8% |
| Amounts payable | 17/49 | €230,942 | €298,031 | +€67,089 | +29.1% |
| Amounts payable within one year | 42/48 | €230,942 | €298,031 | +€67,089 | +29.1% |
| Trade debts | 44 | €47,871 | €26,262 | -€21,609 | -45.1% |
| Suppliers | 440/4 | €47,871 | €26,262 | -€21,609 | -45.1% |
| Taxes, remuneration and social security | 45 | €32,612 | €64,310 | +€31,698 | +97.2% |
| Taxes | 450/3 | €24,037 | €54,156 | +€30,119 | +125% |
| Remuneration and social security | 454/9 | €8,575 | €10,154 | +€1,579 | +18.4% |
| Other amounts payable | 47/48 | €150,458 | €207,458 | +€57,000 | +37.9% |
| Remuneration, social security and pensions | 62 | €43,323 | €33,063 | -€10,260 | -23.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,914 | €13,782 | -€3,132 | -18.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,002 | -€1,979 | -€9,981 | |
| Other operating charges | 640/8 | €8,792 | €11,060 | +€2,268 | +25.8% |
| Gross operating margin | 9900 | €399,861 | €293,891 | -€105,970 | -26.5% |
| Operating profit (loss) | 9901 | €322,831 | €237,965 | -€84,866 | -26.3% |
| Financial income | 75/76B | €6,837 | €14,934 | +€8,097 | +118% |
| Recurring financial income | 75 | €6,837 | €14,934 | +€8,097 | +118% |
| Financial charges | 65/66B | €652 | €531 | -€121 | -18.5% |
| Recurring financial charges | 65 | €652 | €531 | -€121 | -18.5% |
| Profit (loss) for the period before taxes | 9903 | €329,015 | €252,367 | -€76,648 | -23.3% |
| Income taxes | 67/77 | €100,632 | €75,897 | -€24,735 | -24.6% |
| Profit (loss) for the period | 9904 | €228,384 | €176,471 | -€51,913 | -22.7% |
| Profit (loss) for the period to be appropriated | 9905 | €228,384 | €176,471 | -€51,913 | -22.7% |
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 17 October 2026 via checked.be.