Dr. Lenne Aerts: 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. Lenne Aerts
Largest movements
- Current investments +€176,502
new in 2025: €176,502
- Cash -€7,118
down €7,118 (-6.6%), from €107,509 to €100,391
mainly Current investments (-€176,502) and Trade debts (-€1,914)
- Reserves +€164,775
up €164,775 (+156%), from €105,764 to €270,539
- Tax, wage and social debts +€3,817
up €3,817 (+54.8%), from €6,962 to €10,780
- Gross operating margin +€93,509
up €93,509 (+75.1%), from €124,504 to €218,014
- Taxes +€22,855
up €22,855 (+84.8%), from €26,962 to €49,817
- Financial charges +€2,469
up €2,469 (+3,086,338%), from €0 to €2,469
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 | €118,156 | €286,522 | +€168,367 | +142% |
| Current assets | 29/58 | €118,156 | €286,522 | +€168,367 | +142% |
| Amounts receivable within one year | 40/41 | €10,646 | €9,629 | -€1,017 | -9.6% |
| Trade receivables | 40 | €9,687 | €9,227 | -€460 | -4.8% |
| Other amounts receivable | 41 | €959 | €402 | -€557 | -58.1% |
| Current investments | 50/53 | - | €176,502 | +€176,502 | |
| Cash at bank and in hand | 54/58 | €107,509 | €100,391 | -€7,118 | -6.6% |
| Total equity and liabilities | 10/49 | €118,156 | €286,522 | +€168,367 | +142% |
| Equity | 10/15 | €108,264 | €273,039 | +€164,775 | +152% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €105,764 | €270,539 | +€164,775 | +156% |
| Distributable reserves | 133 | €105,764 | €270,539 | +€164,775 | +156% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €9,892 | €13,484 | +€3,592 | +36.3% |
| Amounts payable within one year | 42/48 | €9,892 | €11,723 | +€1,831 | +18.5% |
| Trade debts | 44 | €2,856 | €943 | -€1,914 | -67.0% |
| Suppliers | 440/4 | €2,856 | €943 | -€1,914 | -67.0% |
| Taxes, remuneration and social security | 45 | €6,962 | €10,780 | +€3,817 | +54.8% |
| Taxes | 450/3 | €6,962 | €10,780 | +€3,817 | +54.8% |
| Other amounts payable | 47/48 | €73 | €0 | -€73 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | €1,761 | +€1,761 | |
| Other operating charges | 640/8 | €236 | €120 | -€116 | -49.2% |
| Gross operating margin | 9900 | €124,504 | €218,014 | +€93,509 | +75.1% |
| Operating profit (loss) | 9901 | €124,268 | €217,894 | +€93,625 | +75.3% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €0 | €2,469 | +€2,469 | +3,086,338% |
| Recurring financial charges | 65 | €0 | €2,469 | +€2,469 | +3,086,338% |
| Profit (loss) for the period before taxes | 9903 | €124,268 | €215,425 | +€91,157 | +73.4% |
| Income taxes | 67/77 | €26,962 | €49,817 | +€22,855 | +84.8% |
| Profit (loss) for the period | 9904 | €97,306 | €165,608 | +€68,302 | +70.2% |
| Profit (loss) for the period to be appropriated | 9905 | €97,306 | €165,608 | +€68,302 | +70.2% |
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 26 October 2026 via checked.be.