ETIENNE LEHMANN, AVOCAT: 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.
ETIENNE LEHMANN, AVOCAT
Largest movements
- Current investments +€750,000
up €750,000 (+426%), from €176,128 to €926,128
- Cash -€350,584
down €350,584 (-34.2%), from €1.0m to €673,900
mainly Current investments (-€750,000) and Tax, wage and social debts (-€202,557)
- Receivables within one year -€107,291
down €107,291 (-28.1%), from €381,751 to €274,460
of which Trade receivables: -€101,699
- Profit (loss) carried forward +€494,194
up €494,194 (+37.4%), from €1.3m to €1.8m
- Tax, wage and social debts -€202,557
down €202,557 (-96.5%), from €209,911 to €7,354
- Turnover -€279,675
down €279,675 (-19.6%), from €1.4m to €1.1m
- Gross operating margin -€277,569
down €277,569 (-29.3%), from €947,958 to €670,389
- Taxes -€50,961
down €50,961 (-23.7%), from €215,131 to €164,170
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,609,317 | €1,903,413 | +€294,095 | +18.3% |
| Fixed assets | 21/28 | €26,954 | €28,924 | +€1,970 | +7.3% |
| Tangible fixed assets | 22/27 | €26,954 | €28,924 | +€1,970 | +7.3% |
| Plant, machinery and equipment | 23 | €12,557 | €7,924 | -€4,632 | -36.9% |
| Furniture and vehicles | 24 | €1,005 | €603 | -€402 | -40.0% |
| Other tangible fixed assets | 26 | €13,392 | €20,397 | +€7,004 | +52.3% |
| Current assets | 29/58 | €1,582,363 | €1,874,488 | +€292,125 | +18.5% |
| Amounts receivable within one year | 40/41 | €381,751 | €274,460 | -€107,291 | -28.1% |
| Trade receivables | 40 | €369,907 | €268,208 | -€101,699 | -27.5% |
| Other amounts receivable | 41 | €11,845 | €6,253 | -€5,592 | -47.2% |
| Current investments | 50/53 | €176,128 | €926,128 | +€750,000 | +426% |
| Cash at bank and in hand | 54/58 | €1,024,484 | €673,900 | -€350,584 | -34.2% |
| Total equity and liabilities | 10/49 | €1,609,317 | €1,903,413 | +€294,095 | +18.3% |
| Equity | 10/15 | €1,340,237 | €1,834,431 | +€494,194 | +36.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,319,777 | €1,813,971 | +€494,194 | +37.4% |
| Amounts payable | 17/49 | €269,080 | €68,981 | -€200,099 | -74.4% |
| Amounts payable within one year | 42/48 | €269,080 | €68,981 | -€200,099 | -74.4% |
| Trade debts | 44 | €5,660 | €7,974 | +€2,314 | +40.9% |
| Suppliers | 440/4 | €5,660 | €7,974 | +€2,314 | +40.9% |
| Taxes, remuneration and social security | 45 | €209,911 | €7,354 | -€202,557 | -96.5% |
| Taxes | 450/3 | €209,911 | €7,354 | -€202,557 | -96.5% |
| Other amounts payable | 47/48 | €53,509 | €53,654 | +€145 | +0.3% |
| Turnover | 70 | €1,426,338 | €1,146,663 | -€279,675 | -19.6% |
| Non-recurring operating income | 76A | €20,865 | €21,395 | +€530 | +2.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €499,246 | €497,670 | -€1,576 | -0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,271 | €11,603 | +€1,332 | +13.0% |
| Other operating charges | 640/8 | - | €968 | +€968 | |
| Gross operating margin | 9900 | €947,958 | €670,389 | -€277,569 | -29.3% |
| Operating profit (loss) | 9901 | €937,687 | €657,818 | -€279,869 | -29.8% |
| Financial income | 75/76B | €2,786 | €685 | -€2,101 | -75.4% |
| Recurring financial income | 75 | €2,786 | €685 | -€2,101 | -75.4% |
| Non-recurring financial income | 76B | €2,786 | €685 | -€2,101 | -75.4% |
| Financial charges | 65/66B | €86 | €139 | +€53 | +61.4% |
| Recurring financial charges | 65 | €86 | €139 | +€53 | +61.4% |
| Non-recurring financial charges | 66B | €86 | €139 | +€53 | +61.4% |
| Profit (loss) for the period before taxes | 9903 | €940,387 | €658,364 | -€282,023 | -30.0% |
| Income taxes | 67/77 | €215,131 | €164,170 | -€50,961 | -23.7% |
| Profit (loss) for the period | 9904 | €725,256 | €494,194 | -€231,062 | -31.9% |
| Profit (loss) for the period to be appropriated | 9905 | €725,256 | €494,194 | -€231,062 | -31.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.