DR. LUCE LAMBRECHTS: 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. LUCE LAMBRECHTS
Largest movements
- Tangible fixed assets -€51,971
down €51,971 (-10.0%), from €519,555 to €467,584
of which Land and buildings: -€49,892
- Cash +€34,303
up €34,303 (+64.1%), from €53,528 to €87,832
mainly Depreciation (+€51,971) and Net result for the year (+€28,777)
- Debts after one year -€57,869
down €57,869 (-30.3%), from €190,685 to €132,816
- Reserves +€28,777
up €28,777 (+13.3%), from €216,983 to €245,760
of which Distributable reserves: +€28,777
- Taxes +€11,839
up €11,839 (+744%), from €1,591 to €13,430
- Gross operating margin +€7,989
up €7,989 (+8.6%), from €92,963 to €100,953
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 | €600,657 | €577,224 | -€23,433 | -3.9% |
| Fixed assets | 21/28 | €519,555 | €467,584 | -€51,971 | -10.0% |
| Tangible fixed assets | 22/27 | €519,555 | €467,584 | -€51,971 | -10.0% |
| Land and buildings | 22 | €509,931 | €460,039 | -€49,892 | -9.8% |
| Plant, machinery and equipment | 23 | €2,329 | €2,018 | -€311 | -13.4% |
| Furniture and vehicles | 24 | €7,295 | €5,527 | -€1,768 | -24.2% |
| Current assets | 29/58 | €81,102 | €109,639 | +€28,537 | +35.2% |
| Amounts receivable within one year | 40/41 | €27,302 | €21,652 | -€5,650 | -20.7% |
| Trade receivables | 40 | €23,656 | €21,404 | -€2,251 | -9.5% |
| Other amounts receivable | 41 | €3,646 | €247 | -€3,399 | -93.2% |
| Cash at bank and in hand | 54/58 | €53,528 | €87,832 | +€34,303 | +64.1% |
| Deferred charges and accrued income | 490/1 | €272 | €156 | -€116 | -42.7% |
| Total equity and liabilities | 10/49 | €600,657 | €577,224 | -€23,433 | -3.9% |
| Equity | 10/15 | €222,883 | €251,660 | +€28,777 | +12.9% |
| Contributions | 10/11 | €5,900 | €5,900 | = | 0.0% |
| Reserves | 13 | €216,983 | €245,760 | +€28,777 | +13.3% |
| Tax-exempt reserves | 132 | €5,622 | €5,622 | = | 0.0% |
| Distributable reserves | 133 | €211,361 | €240,138 | +€28,777 | +13.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €377,774 | €325,564 | -€52,211 | -13.8% |
| Amounts payable after more than one year | 17 | €190,685 | €132,816 | -€57,869 | -30.3% |
| Financial debts | 170/4 | €190,685 | €132,816 | -€57,869 | -30.3% |
| Amounts payable within one year | 42/48 | €187,089 | €192,747 | +€5,658 | +3.0% |
| Current portion of amounts payable after more than one year | 42 | €57,167 | €57,869 | +€702 | +1.2% |
| Trade debts | 44 | €1,021 | €721 | -€300 | -29.4% |
| Suppliers | 440/4 | €1,021 | €721 | -€300 | -29.4% |
| Taxes, remuneration and social security | 45 | €11,711 | €13,794 | +€2,084 | +17.8% |
| Taxes | 450/3 | €11,711 | €13,794 | +€2,084 | +17.8% |
| Other amounts payable | 47/48 | €117,190 | €120,362 | +€3,173 | +2.7% |
| Non-recurring operating income | 76A | - | €2,922 | +€2,922 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,855 | €51,971 | +€115 | +0.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €4,099 | €3,850 | -€249 | -6.1% |
| Gross operating margin | 9900 | €92,963 | €100,953 | +€7,989 | +8.6% |
| Operating profit (loss) | 9901 | €37,009 | €45,132 | +€8,123 | +21.9% |
| Financial income | 75/76B | €174 | €50 | -€124 | -71.1% |
| Recurring financial income | 75 | €174 | €50 | -€124 | -71.1% |
| Financial charges | 65/66B | €3,626 | €2,974 | -€652 | -18.0% |
| Recurring financial charges | 65 | €3,626 | €2,974 | -€652 | -18.0% |
| Profit (loss) for the period before taxes | 9903 | €33,557 | €42,208 | +€8,651 | +25.8% |
| Income taxes | 67/77 | €1,591 | €13,430 | +€11,839 | +744% |
| Profit (loss) for the period | 9904 | €31,966 | €28,777 | -€3,188 | -10.0% |
| Profit (loss) for the period to be appropriated | 9905 | €31,966 | €28,777 | -€3,188 | -10.0% |
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 24 October 2026 via checked.be.