AR Lex: what changed
Two fiscal 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.
AR Lex
Largest movements
- Receivables within one year +€428,283
up €428,283 (+326.7%), from €131,080 to €559,364
- Current investments -€420,000
no longer reported in 2025 (was €420,000)
- Cash +€174,220
up €174,220 (+182.0%), from €95,721 to €269,941
mainly Net result for the year (+€560,943) and Current investments (+€420,000)
- Debts after one year +€200,000
new in 2025: €200,000
- Other debts -€70,749
down €70,749 (-15.6%), from €454,048 to €383,299
- Tax, wage and social debts +€50,416
up €50,416 (+24.8%), from €203,319 to €253,735
of which Taxes: +€47,918
- Gross operating margin +€45,697
up €45,697 (+6.5%), from €705,024 to €750,721
- Taxes +€11,639
up €11,639 (+6.7%), from €173,481 to €185,120
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 | €661,127 | €846,009 | +€184,882 | +28.0% |
| Fixed assets | 21/28 | €12,501 | €14,714 | +€2,213 | +17.7% |
| Tangible fixed assets | 22/27 | €12,501 | €14,714 | +€2,213 | +17.7% |
| Furniture and vehicles | 24 | €12,501 | €8,150 | -€4,352 | -34.8% |
| Other tangible fixed assets | 26 | - | €6,565 | +€6,565 | |
| Current assets | 29/58 | €648,626 | €831,295 | +€182,669 | +28.2% |
| Amounts receivable within one year | 40/41 | €131,080 | €559,364 | +€428,283 | +326.7% |
| Trade receivables | 40 | €131,080 | €559,364 | +€428,283 | +326.7% |
| Current investments | 50/53 | €420,000 | - | -€420,000 | |
| Cash at bank and in hand | 54/58 | €95,721 | €269,941 | +€174,220 | +182.0% |
| Deferred charges and accrued income | 490/1 | €1,825 | €1,990 | +€165 | +9.0% |
| Total equity and liabilities | 10/49 | €661,127 | €846,009 | +€184,882 | +28.0% |
| Equity | 10/15 | €3,760 | €4,703 | +€943 | +25.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €760 | €1,703 | +€943 | +124.0% |
| Amounts payable | 17/49 | €657,367 | €841,306 | +€183,939 | +28.0% |
| Amounts payable after more than one year | 17 | - | €200,000 | +€200,000 | |
| Other amounts payable | 178/9 | - | €200,000 | +€200,000 | |
| Amounts payable within one year | 42/48 | €657,367 | €641,306 | -€16,061 | -2.4% |
| Trade debts | 44 | - | €4,271 | +€4,271 | |
| Suppliers | 440/4 | - | €4,271 | +€4,271 | |
| Taxes, remuneration and social security | 45 | €203,319 | €253,735 | +€50,416 | +24.8% |
| Taxes | 450/3 | €203,319 | €251,237 | +€47,918 | +23.6% |
| Remuneration and social security | 454/9 | - | €2,498 | +€2,498 | |
| Other amounts payable | 47/48 | €454,048 | €383,299 | -€70,749 | -15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,990 | €7,488 | +€497 | +7.1% |
| Other operating charges | 640/8 | €271 | €776 | +€505 | +185.9% |
| Gross operating margin | 9900 | €705,024 | €750,721 | +€45,697 | +6.5% |
| Operating profit (loss) | 9901 | €697,762 | €742,458 | +€44,696 | +6.4% |
| Financial income | 75/76B | €51 | €3,799 | +€3,748 | +7362.4% |
| Recurring financial income | 75 | €51 | €3,799 | +€3,748 | +7362.4% |
| Financial charges | 65/66B | €282 | €194 | -€88 | -31.3% |
| Recurring financial charges | 65 | €282 | €194 | -€88 | -31.3% |
| Profit (loss) for the period before taxes | 9903 | €697,531 | €746,063 | +€48,532 | +7.0% |
| Income taxes | 67/77 | €173,481 | €185,120 | +€11,639 | +6.7% |
| Profit (loss) for the period | 9904 | €524,050 | €560,943 | +€36,893 | +7.0% |
| Profit (loss) for the period to be appropriated | 9905 | €524,050 | €560,943 | +€36,893 | +7.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.