Dr Tom 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 Tom Lambrechts
Largest movements
- Receivables after one year +€49,000
new in 2025: €49,000
- Receivables within one year -€4,863
down €4,863 (-72.6%), from €6,700 to €1,837
- Cash -€4,420
down €4,420 (-10.7%), from €41,238 to €36,818
mainly Receivables after one year (-€49,000) and Contributions, distributions and other (-€35,294)
- Tangible fixed assets -€4,256
down €4,256 (-11.3%), from €37,548 to €33,292
of which Plant, machinery and equipment: -€2,235
- Other debts +€23,614
up €23,614 (+625%), from €3,779 to €27,394
- Reserves +€16,300
up €16,300 (+27.8%), from €58,676 to €74,977
- Tax, wage and social debts -€1,969
down €1,969 (-66.7%), from €2,954 to €985
- Trade debts -€1,469
down €1,469 (-59.5%), from €2,467 to €998
- Gross operating margin +€25,179
up €25,179 (+56.4%), from €44,625 to €69,804
- Taxes +€4,863
up €4,863 (+58.6%), from €8,300 to €13,163
- Depreciation +€1,637
up €1,637 (+62.5%), from €2,619 to €4,256
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 | €86,675 | €122,953 | +€36,278 | +41.9% |
| Fixed assets | 21/28 | €37,548 | €33,292 | -€4,256 | -11.3% |
| Tangible fixed assets | 22/27 | €37,548 | €33,292 | -€4,256 | -11.3% |
| Plant, machinery and equipment | 23 | €16,217 | €13,983 | -€2,235 | -13.8% |
| Furniture and vehicles | 24 | €2,776 | €2,207 | -€570 | -20.5% |
| Other tangible fixed assets | 26 | €18,554 | €17,102 | -€1,452 | -7.8% |
| Current assets | 29/58 | €49,127 | €89,661 | +€40,534 | +82.5% |
| Amounts receivable after more than one year | 29 | - | €49,000 | +€49,000 | |
| Other amounts receivable | 291 | - | €49,000 | +€49,000 | |
| Amounts receivable within one year | 40/41 | €6,700 | €1,837 | -€4,863 | -72.6% |
| Other amounts receivable | 41 | €6,700 | €1,837 | -€4,863 | -72.6% |
| Cash at bank and in hand | 54/58 | €41,238 | €36,818 | -€4,420 | -10.7% |
| Deferred charges and accrued income | 490/1 | €1,189 | €2,005 | +€816 | +68.6% |
| Total equity and liabilities | 10/49 | €86,675 | €122,953 | +€36,278 | +41.9% |
| Equity | 10/15 | €77,276 | €93,577 | +€16,300 | +21.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €58,676 | €74,977 | +€16,300 | +27.8% |
| Distributable reserves | 133 | €58,676 | €74,977 | +€16,300 | +27.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €9,399 | €29,376 | +€19,978 | +213% |
| Amounts payable within one year | 42/48 | €9,200 | €29,376 | +€20,177 | +219% |
| Trade debts | 44 | €2,467 | €998 | -€1,469 | -59.5% |
| Suppliers | 440/4 | €2,467 | €998 | -€1,469 | -59.5% |
| Taxes, remuneration and social security | 45 | €2,954 | €985 | -€1,969 | -66.7% |
| Taxes | 450/3 | €2,954 | €985 | -€1,969 | -66.7% |
| Other amounts payable | 47/48 | €3,779 | €27,394 | +€23,614 | +625% |
| Accrued charges and deferred income | 492/3 | €199 | €0 | -€199 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,619 | €4,256 | +€1,637 | +62.5% |
| Other operating charges | 640/8 | €806 | €675 | -€131 | -16.2% |
| Gross operating margin | 9900 | €44,625 | €69,804 | +€25,179 | +56.4% |
| Operating profit (loss) | 9901 | €41,200 | €64,873 | +€23,673 | +57.5% |
| Financial income | 75/76B | €0 | €180 | +€180 | +600,167% |
| Recurring financial income | 75 | €0 | €180 | +€180 | +600,167% |
| Financial charges | 65/66B | €274 | €296 | +€21 | +7.8% |
| Recurring financial charges | 65 | €274 | €296 | +€21 | +7.8% |
| Profit (loss) for the period before taxes | 9903 | €40,926 | €64,757 | +€23,831 | +58.2% |
| Income taxes | 67/77 | €8,300 | €13,163 | +€4,863 | +58.6% |
| Profit (loss) for the period | 9904 | €32,626 | €51,594 | +€18,969 | +58.1% |
| Profit (loss) for the period to be appropriated | 9905 | €32,626 | €51,594 | +€18,969 | +58.1% |
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 29 October 2026 via checked.be.