Chantier Lenoir: 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.
Chantier Lenoir
Largest movements
- Tangible fixed assets -€62,598
down €62,598 (-21.4%), from €293,015 to €230,417
of which Plant, machinery and equipment: -€50,282
- Receivables within one year -€23,671
down €23,671 (-30.0%), from €78,912 to €55,241
of which Trade receivables: -€29,462
- Cash -€12,891
down €12,891 (-6.3%), from €204,393 to €191,501
mainly Net result for the year (-€41,395) and Debts after one year (-€28,998)
- Reserves -€42,550
down €42,550 (-22.0%), from €193,350 to €150,800
of which Distributable reserves: -€23,800
- Debts after one year -€28,998
down €28,998 (-16.5%), from €175,441 to €146,443
- Other debts -€12,209
down €12,209 (-50.0%), from €24,422 to €12,213
- Trade debts -€9,328
down €9,328 (-78.7%), from €11,858 to €2,530
- Tax, wage and social debts -€6,253
down €6,253 (-31.4%), from €19,906 to €13,653
of which Taxes: -€5,466
- Gross operating margin -€99,178
down €99,178 (-32.4%), from €306,409 to €207,231
- Staff costs -€30,098
down €30,098 (-14.7%), from €204,713 to €174,616
- Taxes -€6,426
down €6,426 (-56.1%), from €11,448 to €5,023
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 | €617,798 | €512,532 | -€105,266 | -17.0% |
| Fixed assets | 21/28 | €293,015 | €230,417 | -€62,598 | -21.4% |
| Tangible fixed assets | 22/27 | €293,015 | €230,417 | -€62,598 | -21.4% |
| Land and buildings | 22 | €114,284 | €103,070 | -€11,214 | -9.8% |
| Plant, machinery and equipment | 23 | €175,162 | €124,880 | -€50,282 | -28.7% |
| Furniture and vehicles | 24 | €3,569 | €2,467 | -€1,103 | -30.9% |
| Current assets | 29/58 | €324,782 | €282,115 | -€42,668 | -13.1% |
| Stocks and contracts in progress | 3 | €30,198 | €27,712 | -€2,486 | -8.2% |
| Stocks | 30/36 | €30,198 | €27,712 | -€2,486 | -8.2% |
| Amounts receivable within one year | 40/41 | €78,912 | €55,241 | -€23,671 | -30.0% |
| Trade receivables | 40 | €72,984 | €43,521 | -€29,462 | -40.4% |
| Other amounts receivable | 41 | €5,928 | €11,720 | +€5,792 | +97.7% |
| Cash at bank and in hand | 54/58 | €204,393 | €191,501 | -€12,891 | -6.3% |
| Deferred charges and accrued income | 490/1 | €11,280 | €7,660 | -€3,620 | -32.1% |
| Total equity and liabilities | 10/49 | €617,798 | €512,532 | -€105,266 | -17.0% |
| Equity | 10/15 | €353,943 | €308,695 | -€45,248 | -12.8% |
| Contributions | 10/11 | €138,000 | €138,000 | = | 0.0% |
| Reserves | 13 | €193,350 | €150,800 | -€42,550 | -22.0% |
| Tax-exempt reserves | 132 | €18,750 | €0 | -€18,750 | -100% |
| Distributable reserves | 133 | €174,600 | €150,800 | -€23,800 | -13.6% |
| Profit (loss) carried forward | 14 | €6,523 | €7,678 | +€1,155 | +17.7% |
| Investment grants | 15 | €16,070 | €12,217 | -€3,853 | -24.0% |
| Amounts payable | 17/49 | €263,854 | €203,837 | -€60,018 | -22.7% |
| Amounts payable after more than one year | 17 | €175,441 | €146,443 | -€28,998 | -16.5% |
| Financial debts | 170/4 | €175,441 | €146,443 | -€28,998 | -16.5% |
| Amounts payable within one year | 42/48 | €88,413 | €57,393 | -€31,020 | -35.1% |
| Current portion of amounts payable after more than one year | 42 | €32,226 | €28,998 | -€3,229 | -10.0% |
| Trade debts | 44 | €11,858 | €2,530 | -€9,328 | -78.7% |
| Suppliers | 440/4 | €11,858 | €2,530 | -€9,328 | -78.7% |
| Taxes, remuneration and social security | 45 | €19,906 | €13,653 | -€6,253 | -31.4% |
| Taxes | 450/3 | €12,387 | €6,921 | -€5,466 | -44.1% |
| Remuneration and social security | 454/9 | €7,519 | €6,732 | -€787 | -10.5% |
| Other amounts payable | 47/48 | €24,422 | €12,213 | -€12,209 | -50.0% |
| Remuneration, social security and pensions | 62 | €204,713 | €174,616 | -€30,098 | -14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,259 | €67,282 | +€1,023 | +1.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €619 | €0 | -€619 | -100% |
| Other operating charges | 640/8 | €3,235 | €5,149 | +€1,914 | +59.2% |
| Gross operating margin | 9900 | €306,409 | €207,231 | -€99,178 | -32.4% |
| Operating profit (loss) | 9901 | €31,582 | -€39,816 | -€71,398 | |
| Financial income | 75/76B | €8,824 | €7,544 | -€1,280 | -14.5% |
| Recurring financial income | 75 | €8,824 | €7,544 | -€1,280 | -14.5% |
| Financial charges | 65/66B | €4,621 | €4,100 | -€520 | -11.3% |
| Recurring financial charges | 65 | €4,621 | €4,100 | -€520 | -11.3% |
| Profit (loss) for the period before taxes | 9903 | €35,785 | -€36,372 | -€72,158 | |
| Income taxes | 67/77 | €11,448 | €5,023 | -€6,426 | -56.1% |
| Profit (loss) for the period | 9904 | €24,337 | -€41,395 | -€65,732 | |
| Transfer from tax-exempt reserves | 789 | - | €18,750 | +€18,750 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,337 | -€22,645 | -€46,982 |
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 30 October 2026 via checked.be.