Daniel LAMBRECHT: 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.
What changed
Daniel LAMBRECHT
NACE 17.210, Manufacture of paper and paper products
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.3m
2024 · €679,599+€610,716
Equity
€3.4m
2024 · €3.4m+€314
Cash
€742,383
2024 · €704,347+€38,036
Balance sheet total
€5.3m
2024 · €4.5m+€849,270
Largest movements
Assets
- Current investments +€570,984
up €570,984 (+37.4%), from €1.5m to €2.1m
- Receivables within one year +€207,870
up €207,870 (+13.9%), from €1.5m to €1.7m
of which Trade receivables: +€304,556
Equity and liabilities
- Other debts +€636,614
up €636,614 (+97.4%), from €653,386 to €1.3m
- Trade debts +€185,129
up €185,129 (+134.6%), from €137,514 to €322,644
- Tax, wage and social debts +€62,394
up €62,394 (+44.9%), from €138,831 to €201,224
of which Remuneration and social security: +€34,646
Income statement
- Financial income +€533,191
up €533,191 (+859.0%), from €62,074 to €595,265
- Gross operating margin +€133,807
up €133,807 (+6.4%), from €2.1m to €2.2m
- Staff costs +€45,356
up €45,356 (+3.7%), from €1.2m to €1.3m
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.
Result 2024
€679,599
Gross operating margin
+€133,807
Staff costs
-€45,356
Depreciation
-€18,617
Other operating charges
-€237
Other operating items
+€175
Financial income
+€533,191
Financial charges
+€1,838
Taxes
+€5,915
Result 2025
€1.3m
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.
From operations
+€2.2m
Investment
-€859,042
Financing
-€1.3m
Cash 2024
€704,347
From operations (derived)
+€2.2m
Net result for the year
+€1.3m
Depreciation
+€255,926
Smaller working-capital items
-€248
Receivables within one year
-€207,870
Trade debts
+€185,129
Tax, wage and social debts
+€62,394
Other debts
+€636,614
Investment (derived)
-€859,042
Investment in fixed assets (net)
-€288,058
Current investments
-€570,984
Financing
-€1.3m
Debts after one year
-€35,806
Current portion of long-term debt
+€683
Short-term financial debts
-€59
Contributions, distributions and other
-€1.3m
Cash 2025
€742,383
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,458,978 | €5,308,248 | +€849,270 | +19.0% |
| Fixed assets | 21/28 | €635,276 | €667,407 | +€32,131 | +5.1% |
| Intangible fixed assets | 21 | - | €5,112 | +€5,112 | |
| Tangible fixed assets | 22/27 | €635,276 | €662,295 | +€27,020 | +4.3% |
| Land and buildings | 22 | €17,737 | €15,257 | -€2,480 | -14.0% |
| Plant, machinery and equipment | 23 | €592,710 | €633,509 | +€40,798 | +6.9% |
| Furniture and vehicles | 24 | €22,643 | €12,507 | -€10,136 | -44.8% |
| Leasing and similar rights | 25 | €2,186 | €653 | -€1,533 | -70.1% |
| Other tangible fixed assets | 26 | - | €371 | +€371 | |
| Current assets | 29/58 | €3,823,703 | €4,640,841 | +€817,138 | +21.4% |
| Stocks and contracts in progress | 3 | €62,000 | €65,200 | +€3,200 | +5.2% |
| Stocks | 30/36 | €62,000 | €65,200 | +€3,200 | +5.2% |
| Amounts receivable within one year | 40/41 | €1,499,196 | €1,707,066 | +€207,870 | +13.9% |
| Trade receivables | 40 | €800,583 | €1,105,139 | +€304,556 | +38.0% |
| Other amounts receivable | 41 | €698,613 | €601,927 | -€96,686 | -13.8% |
| Current investments | 50/53 | €1,526,334 | €2,097,318 | +€570,984 | +37.4% |
| Cash at bank and in hand | 54/58 | €704,347 | €742,383 | +€38,036 | +5.4% |
| Deferred charges and accrued income | 490/1 | €31,826 | €28,874 | -€2,952 | -9.3% |
| Total equity and liabilities | 10/49 | €4,458,978 | €5,308,248 | +€849,270 | +19.0% |
| Equity | 10/15 | €3,440,097 | €3,440,411 | +€314 | 0.0% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €3,377,597 | €3,377,911 | +€314 | 0.0% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Distributable reserves | 133 | €3,371,347 | €3,371,661 | +€314 | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,018,882 | €1,867,837 | +€848,955 | +83.3% |
| Amounts payable after more than one year | 17 | €53,969 | €18,163 | -€35,806 | -66.3% |
| Financial debts | 170/4 | €53,969 | €18,163 | -€35,806 | -66.3% |
| Amounts payable within one year | 42/48 | €964,913 | €1,849,674 | +€884,761 | +91.7% |
| Current portion of amounts payable after more than one year | 42 | €35,124 | €35,806 | +€683 | +1.9% |
| Financial debts | 43 | €59 | €0 | -€59 | -100.0% |
| Credit institutions | 430/8 | €59 | €0 | -€59 | -100.0% |
| Trade debts | 44 | €137,514 | €322,644 | +€185,129 | +134.6% |
| Suppliers | 440/4 | €137,514 | €322,644 | +€185,129 | +134.6% |
| Taxes, remuneration and social security | 45 | €138,831 | €201,224 | +€62,394 | +44.9% |
| Taxes | 450/3 | €0 | €27,748 | +€27,748 | |
| Remuneration and social security | 454/9 | €138,831 | €173,476 | +€34,646 | +25.0% |
| Other amounts payable | 47/48 | €653,386 | €1,290,000 | +€636,614 | +97.4% |
| Remuneration, social security and pensions | 62 | €1,216,277 | €1,261,633 | +€45,356 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €237,309 | €255,926 | +€18,617 | +7.8% |
| Other operating charges | 640/8 | €2,752 | €2,989 | +€237 | +8.6% |
| Non-recurring operating charges | 66A | €175 | €0 | -€175 | -100.0% |
| Gross operating margin | 9900 | €2,087,965 | €2,221,773 | +€133,807 | +6.4% |
| Operating profit (loss) | 9901 | €631,452 | €701,224 | +€69,772 | +11.0% |
| Financial income | 75/76B | €62,074 | €595,265 | +€533,191 | +859.0% |
| Recurring financial income | 75 | €62,074 | €595,265 | +€533,191 | +859.0% |
| Financial charges | 65/66B | €8,012 | €6,174 | -€1,838 | -22.9% |
| Recurring financial charges | 65 | €8,012 | €6,174 | -€1,838 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | €685,513 | €1,290,314 | +€604,801 | +88.2% |
| Income taxes | 67/77 | €5,915 | €0 | -€5,915 | -100.0% |
| Profit (loss) for the period | 9904 | €679,599 | €1,290,314 | +€610,716 | +89.9% |
| Profit (loss) for the period to be appropriated | 9905 | €679,599 | €1,290,314 | +€610,716 | +89.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.