BELGIAN LACE: 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.
BELGIAN LACE
Largest movements
- Receivables within one year +€89,150
up €89,150 (+35.4%), from €251,988 to €341,138
of which Trade receivables: +€100,000
- Tangible fixed assets -€50,070
down €50,070 (-3.2%), from €1.6m to €1.5m
- Debts after one year -€109,833
down €109,833 (-11.0%), from €997,476 to €887,643
of which Financial debts: -€102,033
- Other debts +€62,915
up €62,915 (+84.3%), from €74,666 to €137,581
- Profit (loss) carried forward +€60,366
up €60,366 (+22.7%), from €266,245 to €326,611
- Gross operating margin -€6,737
down €6,737 (-3.7%), from €183,925 to €177,189
- Taxes -€3,107
down €3,107 (-11.8%), from €26,238 to €23,131
- Financial charges +€2,345
up €2,345 (+11.6%), from €20,259 to €22,604
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 | €2,074,257 | €2,106,726 | +€32,469 | +1.6% |
| Fixed assets | 21/28 | €1,807,281 | €1,757,211 | -€50,070 | -2.8% |
| Tangible fixed assets | 22/27 | €1,582,075 | €1,532,005 | -€50,070 | -3.2% |
| Land and buildings | 22 | €1,582,075 | €1,532,005 | -€50,070 | -3.2% |
| Financial fixed assets | 28 | €225,206 | €225,206 | = | 0.0% |
| Current assets | 29/58 | €266,976 | €349,516 | +€82,539 | +30.9% |
| Amounts receivable within one year | 40/41 | €251,988 | €341,138 | +€89,150 | +35.4% |
| Trade receivables | 40 | - | €100,000 | +€100,000 | |
| Other amounts receivable | 41 | €251,988 | €241,138 | -€10,850 | -4.3% |
| Cash at bank and in hand | 54/58 | €14,581 | €7,881 | -€6,700 | -45.9% |
| Deferred charges and accrued income | 490/1 | €408 | €496 | +€89 | +21.7% |
| Total equity and liabilities | 10/49 | €2,074,257 | €2,106,726 | +€32,469 | +1.6% |
| Equity | 10/15 | €861,192 | €924,735 | +€63,543 | +7.4% |
| Contributions | 10/11 | €562,000 | €562,000 | = | 0.0% |
| Capital | 10 | €562,000 | €562,000 | = | 0.0% |
| Issued capital | 100 | €562,000 | €562,000 | = | 0.0% |
| Reserves | 13 | €32,947 | €36,124 | +€3,177 | +9.6% |
| Non-distributable reserves | 130/1 | €32,947 | €36,124 | +€3,177 | +9.6% |
| Legal reserve | 130 | €32,947 | €36,124 | +€3,177 | +9.6% |
| Profit (loss) carried forward | 14 | €266,245 | €326,611 | +€60,366 | +22.7% |
| Amounts payable | 17/49 | €1,213,065 | €1,181,991 | -€31,074 | -2.6% |
| Amounts payable after more than one year | 17 | €997,476 | €887,643 | -€109,833 | -11.0% |
| Financial debts | 170/4 | €972,876 | €870,843 | -€102,033 | -10.5% |
| Other amounts payable | 178/9 | €24,600 | €16,800 | -€7,800 | -31.7% |
| Amounts payable within one year | 42/48 | €215,589 | €290,350 | +€74,761 | +34.7% |
| Current portion of amounts payable after more than one year | 42 | €99,808 | €102,033 | +€2,226 | +2.2% |
| Trade debts | 44 | €635 | €1,381 | +€746 | +118% |
| Suppliers | 440/4 | €635 | €1,381 | +€746 | +118% |
| Taxes, remuneration and social security | 45 | €40,481 | €49,355 | +€8,874 | +21.9% |
| Taxes | 450/3 | €40,481 | €49,355 | +€8,874 | +21.9% |
| Other amounts payable | 47/48 | €74,666 | €137,581 | +€62,915 | +84.3% |
| Accrued charges and deferred income | 492/3 | - | €3,998 | +€3,998 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,070 | €50,070 | = | 0.0% |
| Other operating charges | 640/8 | €17,348 | €17,914 | +€565 | +3.3% |
| Gross operating margin | 9900 | €183,925 | €177,189 | -€6,737 | -3.7% |
| Operating profit (loss) | 9901 | €116,507 | €109,205 | -€7,302 | -6.3% |
| Financial income | 75/76B | - | €73 | +€73 | |
| Recurring financial income | 75 | - | €73 | +€73 | |
| Financial charges | 65/66B | €20,259 | €22,604 | +€2,345 | +11.6% |
| Recurring financial charges | 65 | €20,259 | €22,604 | +€2,345 | +11.6% |
| Profit (loss) for the period before taxes | 9903 | €96,248 | €86,674 | -€9,574 | -9.9% |
| Income taxes | 67/77 | €26,238 | €23,131 | -€3,107 | -11.8% |
| Profit (loss) for the period | 9904 | €70,010 | €63,543 | -€6,467 | -9.2% |
| Profit (loss) for the period to be appropriated | 9905 | €70,010 | €63,543 | -€6,467 | -9.2% |
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 18 October 2026 via checked.be.