DR. LAMBRECHTS GILBERT: 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.
DR. LAMBRECHTS GILBERT
Largest movements
- Tangible fixed assets +€85,472
up €85,472 (+16.8%), from €508,603 to €594,075
of which Land and buildings: +€89,086
- Cash -€45,200
down €45,200 (-76.1%), from €59,375 to €14,175
mainly Investment in fixed assets (net) (-€126,352) and Debts after one year (-€20,000)
- Receivables within one year -€7,708
down €7,708 (-72.1%), from €10,687 to €2,980
- Current investments -€7,095
no longer reported in 2025 (was €7,095)
- Reserves +€39,378
up €39,378 (+15.5%), from €254,553 to €293,932
of which Distributable reserves: +€43,335
- Debts after one year -€20,000
down €20,000 (-13.2%), from €151,667 to €131,667
- Depreciation +€11,906
up €11,906 (+41.1%), from €28,974 to €40,880
- Gross operating margin +€10,466
up €10,466 (+8.5%), from €123,753 to €134,219
- Other operating charges +€7,781
up €7,781 (+91.4%), from €8,509 to €16,291
- Financial charges -€4,283
down €4,283 (-24.9%), from €17,209 to €12,926
of which Financial charges: -€4,218
- Taxes -€4,181
down €4,181 (-13.7%), from €30,539 to €26,358
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 | €586,928 | €612,587 | +€25,659 | +4.4% |
| Fixed assets | 21/28 | €508,603 | €594,075 | +€85,472 | +16.8% |
| Tangible fixed assets | 22/27 | €508,603 | €594,075 | +€85,472 | +16.8% |
| Land and buildings | 22 | €476,478 | €565,564 | +€89,086 | +18.7% |
| Plant, machinery and equipment | 23 | €5,493 | €5,252 | -€241 | -4.4% |
| Furniture and vehicles | 24 | €21,534 | €20,047 | -€1,487 | -6.9% |
| Other tangible fixed assets | 26 | €5,097 | €3,212 | -€1,885 | -37.0% |
| Current assets | 29/58 | €78,325 | €18,512 | -€59,813 | -76.4% |
| Amounts receivable within one year | 40/41 | €10,687 | €2,980 | -€7,708 | -72.1% |
| Other amounts receivable | 41 | €10,687 | €2,980 | -€7,708 | -72.1% |
| Current investments | 50/53 | €7,095 | - | -€7,095 | |
| Cash at bank and in hand | 54/58 | €59,375 | €14,175 | -€45,200 | -76.1% |
| Deferred charges and accrued income | 490/1 | €1,169 | €1,358 | +€189 | +16.2% |
| Total equity and liabilities | 10/49 | €586,928 | €612,587 | +€25,659 | +4.4% |
| Equity | 10/15 | €273,145 | €312,524 | +€39,378 | +14.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €254,553 | €293,932 | +€39,378 | +15.5% |
| Tax-exempt reserves | 132 | €119,089 | €115,131 | -€3,957 | -3.3% |
| Distributable reserves | 133 | €135,465 | €178,800 | +€43,335 | +32.0% |
| Provisions and deferred taxes | 16 | €39,555 | €38,236 | -€1,319 | -3.3% |
| Deferred taxes | 168 | €39,555 | €38,236 | -€1,319 | -3.3% |
| Amounts payable | 17/49 | €274,228 | €261,828 | -€12,400 | -4.5% |
| Amounts payable after more than one year | 17 | €151,667 | €131,667 | -€20,000 | -13.2% |
| Financial debts | 170/4 | €151,667 | €131,667 | -€20,000 | -13.2% |
| Amounts payable within one year | 42/48 | €116,561 | €124,161 | +€7,600 | +6.5% |
| Current portion of amounts payable after more than one year | 42 | €20,000 | €20,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €22,932 | €26,282 | +€3,349 | +14.6% |
| Taxes | 450/3 | €22,932 | €26,282 | +€3,349 | +14.6% |
| Other amounts payable | 47/48 | €73,628 | €77,879 | +€4,251 | +5.8% |
| Accrued charges and deferred income | 492/3 | €6,000 | €6,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,974 | €40,880 | +€11,906 | +41.1% |
| Other operating charges | 640/8 | €8,509 | €16,291 | +€7,781 | +91.4% |
| Gross operating margin | 9900 | €123,753 | €134,219 | +€10,466 | +8.5% |
| Operating profit (loss) | 9901 | €86,269 | €77,048 | -€9,221 | -10.7% |
| Financial income | 75/76B | €473 | €295 | -€178 | -37.6% |
| Recurring financial income | 75 | €473 | €295 | -€178 | -37.6% |
| Financial charges | 65/66B | €17,209 | €12,926 | -€4,283 | -24.9% |
| Recurring financial charges | 65 | €17,144 | €12,926 | -€4,218 | -24.6% |
| Non-recurring financial charges | 66B | €65 | - | -€65 | |
| Profit (loss) for the period before taxes | 9903 | €69,533 | €64,417 | -€5,116 | -7.4% |
| Transfer from deferred taxes | 780 | €1,319 | €1,319 | = | 0.0% |
| Income taxes | 67/77 | €30,539 | €26,358 | -€4,181 | -13.7% |
| Profit (loss) for the period | 9904 | €40,314 | €39,378 | -€935 | -2.3% |
| Transfer from tax-exempt reserves | 789 | €3,957 | €3,957 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €44,271 | €43,335 | -€935 | -2.1% |
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 22 October 2026 via checked.be.