ERIC LEMMENS: what changed
Two fiscal 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.
ERIC LEMMENS
Largest movements
- Receivables within one year -€82,953
down €82,953 (-67.5%), from €122,928 to €39,975
of which Trade receivables: -€116,020
- Tangible fixed assets -€68,885
down €68,885 (-13.5%), from €510,758 to €441,873
- Other debts +€112,373
up €112,373 (+951.3%), from €11,813 to €124,186
- Trade debts -€100,593
down €100,593 (-86.1%), from €116,839 to €16,246
- Debts after one year -€61,001
down €61,001 (-50.9%), from €119,749 to €58,748
of which Financial debts: -€45,765
- Contributions -€49,437
down €49,437 (-22.5%), from €220,000 to €170,563
- Profit (loss) carried forward -€39,680
down €39,680 (-112.4%), from -€35,307 to -€74,987
- Gross operating margin +€37,076
up €37,076 (+178.7%), from €20,746 to €57,822
- Other operating charges -€37,032
down €37,032 (-79.2%), from €46,773 to €9,741
- Staff costs -€4,949
no longer reported in 2025 (was €4,949)
- Depreciation +€4,314
up €4,314 (+8.3%), from €51,936 to €56,250
- Financial charges +€1,613
up €1,613 (+28.4%), from €5,678 to €7,291
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.
Cash bridge derived
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 | €681,397 | €526,883 | -€154,514 | -22.7% |
| Fixed assets | 21/28 | €511,077 | €441,873 | -€69,204 | -13.5% |
| Tangible fixed assets | 22/27 | €510,758 | €441,873 | -€68,885 | -13.5% |
| Land and buildings | 22 | €246,452 | €233,610 | -€12,842 | -5.2% |
| Plant, machinery and equipment | 23 | €138,420 | €124,119 | -€14,302 | -10.3% |
| Furniture and vehicles | 24 | €113,933 | €84,144 | -€29,789 | -26.1% |
| Other tangible fixed assets | 26 | €11,953 | - | -€11,953 | |
| Financial fixed assets | 28 | €318 | - | -€318 | |
| Current assets | 29/58 | €170,320 | €85,010 | -€85,310 | -50.1% |
| Amounts receivable within one year | 40/41 | €122,928 | €39,975 | -€82,953 | -67.5% |
| Trade receivables | 40 | €121,263 | €5,243 | -€116,020 | -95.7% |
| Other amounts receivable | 41 | €1,665 | €34,731 | +€33,066 | +1985.9% |
| Cash at bank and in hand | 54/58 | €43,381 | €42,548 | -€832 | -1.9% |
| Deferred charges and accrued income | 490/1 | €4,011 | €2,487 | -€1,524 | -38.0% |
| Total equity and liabilities | 10/49 | €681,397 | €526,883 | -€154,514 | -22.7% |
| Equity | 10/15 | €323,579 | €203,252 | -€120,327 | -37.2% |
| Contributions | 10/11 | €220,000 | €170,563 | -€49,437 | -22.5% |
| Reserves | 13 | €138,886 | €107,676 | -€31,210 | -22.5% |
| Non-distributable reserves | 130/1 | €22,000 | €17,056 | -€4,944 | -22.5% |
| Reserves not available under the articles | 1311 | €22,000 | €17,056 | -€4,944 | -22.5% |
| Distributable reserves | 133 | €116,886 | €90,620 | -€26,266 | -22.5% |
| Profit (loss) carried forward | 14 | -€35,307 | -€74,987 | -€39,680 | -112.4% |
| Provisions and deferred taxes | 16 | €64,638 | €64,638 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €64,638 | €64,638 | = | 0.0% |
| Pensions and similar obligations | 160 | €64,638 | €64,638 | = | 0.0% |
| Amounts payable | 17/49 | €293,180 | €258,993 | -€34,187 | -11.7% |
| Amounts payable after more than one year | 17 | €119,749 | €58,748 | -€61,001 | -50.9% |
| Financial debts | 170/4 | €104,513 | €58,748 | -€45,765 | -43.8% |
| Other amounts payable | 178/9 | €15,236 | - | -€15,236 | |
| Amounts payable within one year | 42/48 | €173,431 | €200,245 | +€26,814 | +15.5% |
| Current portion of amounts payable after more than one year | 42 | €44,092 | €45,765 | +€1,673 | +3.8% |
| Trade debts | 44 | €116,839 | €16,246 | -€100,593 | -86.1% |
| Suppliers | 440/4 | €116,839 | €16,246 | -€100,593 | -86.1% |
| Taxes, remuneration and social security | 45 | €687 | €14,048 | +€13,361 | +1945.3% |
| Taxes | 450/3 | €687 | €14,048 | +€13,361 | +1945.3% |
| Other amounts payable | 47/48 | €11,813 | €124,186 | +€112,373 | +951.3% |
| Remuneration, social security and pensions | 62 | €4,949 | - | -€4,949 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,936 | €56,250 | +€4,314 | +8.3% |
| Other operating charges | 640/8 | €46,773 | €9,741 | -€37,032 | -79.2% |
| Non-recurring operating charges | 66A | €178 | €7,711 | +€7,534 | +4239.5% |
| Gross operating margin | 9900 | €20,746 | €57,822 | +€37,076 | +178.7% |
| Operating profit (loss) | 9901 | -€83,090 | -€15,880 | +€67,210 | +80.9% |
| Financial income | 75/76B | €7 | €541 | +€534 | +7192.3% |
| Recurring financial income | 75 | €7 | €541 | +€534 | +7192.3% |
| Financial charges | 65/66B | €5,678 | €7,291 | +€1,613 | +28.4% |
| Recurring financial charges | 65 | €5,678 | €7,291 | +€1,613 | +28.4% |
| Profit (loss) for the period before taxes | 9903 | -€88,760 | -€22,629 | +€66,131 | +74.5% |
| Income taxes | 67/77 | €340 | €1,467 | +€1,127 | +331.3% |
| Profit (loss) for the period | 9904 | -€89,100 | -€24,096 | +€65,004 | +73.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€89,100 | -€24,096 | +€65,004 | +73.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.