DENIS LAMBLIN: 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.
DENIS LAMBLIN
Largest movements
- Receivables within one year +€50,935
new in 2025: €50,935
of which Other amounts receivable: +€48,307
- Cash +€33,431
up €33,431 (+59.5%), from €56,153 to €89,585
mainly Net result for the year (+€119,193) and Depreciation (+€32,183)
- Tangible fixed assets -€26,323
down €26,323 (-3.3%), from €801,787 to €775,464
of which Land and buildings: -€18,769
- Reserves +€119,184
up €119,184 (+44.2%), from €269,917 to €389,101
of which Distributable reserves: +€123,100
- Debts after one year -€46,434
down €46,434 (-8.2%), from €566,682 to €520,248
- Other debts -€29,234
no longer reported in 2025 (was €29,234)
- Tax, wage and social debts +€11,974
up €11,974 (+124%), from €9,673 to €21,647
of which Taxes: +€11,974
- Financial charges -€73,194
down €73,194 (-90.7%), from €80,681 to €7,487
- Provisions +€55,063
no longer reported in 2025 (was -€55,063)
- Taxes +€46,535
up €46,535 (+111%), from €42,000 to €88,534
- Gross operating margin +€12,208
up €12,208 (+5.1%), from €240,005 to €252,212
- Depreciation -€10,750
down €10,750 (-25.0%), from €42,933 to €32,183
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 | €996,759 | €1,063,371 | +€66,612 | +6.7% |
| Fixed assets | 21/28 | €801,787 | €775,464 | -€26,323 | -3.3% |
| Tangible fixed assets | 22/27 | €801,787 | €775,464 | -€26,323 | -3.3% |
| Land and buildings | 22 | €779,867 | €761,098 | -€18,769 | -2.4% |
| Plant, machinery and equipment | 23 | €7,565 | €6,086 | -€1,479 | -19.6% |
| Furniture and vehicles | 24 | €14,355 | €8,280 | -€6,075 | -42.3% |
| Current assets | 29/58 | €194,972 | €287,907 | +€92,935 | +47.7% |
| Amounts receivable within one year | 40/41 | - | €50,935 | +€50,935 | |
| Trade receivables | 40 | - | €2,628 | +€2,628 | |
| Other amounts receivable | 41 | - | €48,307 | +€48,307 | |
| Cash at bank and in hand | 54/58 | €56,153 | €89,585 | +€33,431 | +59.5% |
| Deferred charges and accrued income | 490/1 | €138,818 | €147,387 | +€8,569 | +6.2% |
| Total equity and liabilities | 10/49 | €996,759 | €1,063,371 | +€66,612 | +6.7% |
| Equity | 10/15 | €293,144 | €412,337 | +€119,193 | +40.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €269,917 | €389,101 | +€119,184 | +44.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €116,307 | €112,391 | -€3,916 | -3.4% |
| Distributable reserves | 133 | €151,750 | €274,850 | +€123,100 | +81.1% |
| Profit (loss) carried forward | 14 | €10,827 | €10,836 | +€9 | +0.1% |
| Provisions and deferred taxes | 16 | €29,077 | €28,098 | -€979 | -3.4% |
| Deferred taxes | 168 | €29,077 | €28,098 | -€979 | -3.4% |
| Amounts payable | 17/49 | €674,538 | €622,936 | -€51,602 | -7.6% |
| Amounts payable after more than one year | 17 | €566,682 | €520,248 | -€46,434 | -8.2% |
| Financial debts | 170/4 | €566,682 | €520,248 | -€46,434 | -8.2% |
| Amounts payable within one year | 42/48 | €107,855 | €102,688 | -€5,167 | -4.8% |
| Current portion of amounts payable after more than one year | 42 | €60,666 | €64,571 | +€3,906 | +6.4% |
| Trade debts | 44 | €8,283 | €16,470 | +€8,187 | +98.8% |
| Suppliers | 440/4 | €8,283 | €16,470 | +€8,187 | +98.8% |
| Taxes, remuneration and social security | 45 | €9,673 | €21,647 | +€11,974 | +124% |
| Taxes | 450/3 | €5,315 | €17,289 | +€11,974 | +225% |
| Remuneration and social security | 454/9 | €4,358 | €4,358 | = | 0.0% |
| Other amounts payable | 47/48 | €29,234 | - | -€29,234 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,933 | €32,183 | -€10,750 | -25.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€55,063 | - | +€55,063 | |
| Other operating charges | 640/8 | €5,491 | €5,813 | +€322 | +5.9% |
| Gross operating margin | 9900 | €240,005 | €252,212 | +€12,208 | +5.1% |
| Operating profit (loss) | 9901 | €246,643 | €214,216 | -€32,427 | -13.1% |
| Financial income | 75/76B | €869 | €19 | -€849 | -97.8% |
| Recurring financial income | 75 | €20 | €19 | -€1 | -4.8% |
| Non-recurring financial income | 76B | €848 | - | -€848 | |
| Financial charges | 65/66B | €80,681 | €7,487 | -€73,194 | -90.7% |
| Recurring financial charges | 65 | €80,681 | €7,487 | -€73,194 | -90.7% |
| Profit (loss) for the period before taxes | 9903 | €166,830 | €206,748 | +€39,918 | +23.9% |
| Transfer from deferred taxes | 780 | €979 | €979 | +€0 | 0.0% |
| Income taxes | 67/77 | €42,000 | €88,534 | +€46,535 | +111% |
| Profit (loss) for the period | 9904 | €125,809 | €119,193 | -€6,617 | -5.3% |
| Transfer from tax-exempt reserves | 789 | €3,916 | €3,916 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €129,725 | €123,109 | -€6,616 | -5.1% |
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.