ETS. J.L. LAMBERT: 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.
ETS. J.L. LAMBERT
Largest movements
- Receivables within one year +€138,746
up €138,746 (+22.2%), from €624,300 to €763,046
- Cash +€81,280
up €81,280 (+48.2%), from €168,799 to €250,079
mainly Net result for the year (+€129,906) and Trade debts (+€65,301)
- Stocks and contracts -€25,520
down €25,520 (-10.8%), from €236,182 to €210,661
- Tangible fixed assets -€23,297
down €23,297 (-12.1%), from €192,133 to €168,835
of which Furniture and vehicles: -€14,508
- Reserves +€129,906
up €129,906 (+22.9%), from €567,791 to €697,697
of which Distributable reserves: +€129,906
- Trade debts +€65,301
up €65,301 (+258%), from €25,263 to €90,564
- Current portion of long-term debt -€20,094
down €20,094 (-43.0%), from €46,761 to €26,667
- Gross operating margin +€119,853
up €119,853 (+17.6%), from €680,728 to €800,581
- Taxes +€39,870
up €39,870 (+126%), from €31,564 to €71,434
- Staff costs +€39,223
up €39,223 (+7.5%), from €525,150 to €564,373
- Depreciation -€10,069
down €10,069 (-18.7%), from €53,853 to €43,784
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,225,861 | €1,395,339 | +€169,478 | +13.8% |
| Fixed assets | 21/28 | €196,580 | €171,552 | -€25,028 | -12.7% |
| Intangible fixed assets | 21 | €3,461 | €1,730 | -€1,730 | -50.0% |
| Tangible fixed assets | 22/27 | €192,133 | €168,835 | -€23,297 | -12.1% |
| Land and buildings | 22 | €119,398 | €113,820 | -€5,579 | -4.7% |
| Plant, machinery and equipment | 23 | €13,036 | €9,826 | -€3,210 | -24.6% |
| Furniture and vehicles | 24 | €59,698 | €45,190 | -€14,508 | -24.3% |
| Financial fixed assets | 28 | €987 | €987 | = | 0.0% |
| Current assets | 29/58 | €1,029,281 | €1,223,787 | +€194,506 | +18.9% |
| Stocks and contracts in progress | 3 | €236,182 | €210,661 | -€25,520 | -10.8% |
| Stocks | 30/36 | €236,182 | €210,661 | -€25,520 | -10.8% |
| Amounts receivable within one year | 40/41 | €624,300 | €763,046 | +€138,746 | +22.2% |
| Trade receivables | 40 | €624,300 | €763,046 | +€138,746 | +22.2% |
| Cash at bank and in hand | 54/58 | €168,799 | €250,079 | +€81,280 | +48.2% |
| Total equity and liabilities | 10/49 | €1,225,861 | €1,395,339 | +€169,478 | +13.8% |
| Equity | 10/15 | €975,619 | €1,105,525 | +€129,906 | +13.3% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Contributions outside capital | 11 | €61,500 | €61,500 | = | 0.0% |
| Share premium | 1100/10 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €567,791 | €697,697 | +€129,906 | +22.9% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €561,641 | €691,547 | +€129,906 | +23.1% |
| Profit (loss) carried forward | 14 | €346,328 | €346,328 | = | 0.0% |
| Amounts payable | 17/49 | €250,241 | €289,814 | +€39,572 | +15.8% |
| Amounts payable after more than one year | 17 | €104,206 | €91,937 | -€12,269 | -11.8% |
| Financial debts | 170/4 | €104,206 | €91,937 | -€12,269 | -11.8% |
| Amounts payable within one year | 42/48 | €146,035 | €197,876 | +€51,841 | +35.5% |
| Current portion of amounts payable after more than one year | 42 | €46,761 | €26,667 | -€20,094 | -43.0% |
| Trade debts | 44 | €25,263 | €90,564 | +€65,301 | +258% |
| Suppliers | 440/4 | €25,263 | €90,564 | +€65,301 | +258% |
| Taxes, remuneration and social security | 45 | €74,011 | €80,645 | +€6,634 | +9.0% |
| Taxes | 450/3 | €51,324 | €62,678 | +€11,354 | +22.1% |
| Remuneration and social security | 454/9 | €22,687 | €17,967 | -€4,719 | -20.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €525,150 | €564,373 | +€39,223 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,853 | €43,784 | -€10,069 | -18.7% |
| Other operating charges | 640/8 | €10,204 | €11,558 | +€1,354 | +13.3% |
| Gross operating margin | 9900 | €680,728 | €800,581 | +€119,853 | +17.6% |
| Operating profit (loss) | 9901 | €91,520 | €180,866 | +€89,346 | +97.6% |
| Financial income | 75/76B | €23,261 | €29,089 | +€5,828 | +25.1% |
| Recurring financial income | 75 | €23,261 | €29,089 | +€5,828 | +25.1% |
| Financial charges | 65/66B | €9,013 | €8,615 | -€398 | -4.4% |
| Recurring financial charges | 65 | €9,013 | €8,615 | -€398 | -4.4% |
| Profit (loss) for the period before taxes | 9903 | €105,769 | €201,340 | +€95,571 | +90.4% |
| Income taxes | 67/77 | €31,564 | €71,434 | +€39,870 | +126% |
| Profit (loss) for the period | 9904 | €74,205 | €129,906 | +€55,701 | +75.1% |
| Profit (loss) for the period to be appropriated | 9905 | €74,205 | €129,906 | +€55,701 | +75.1% |
Source: filed annual accounts (NBB), financial years ended 1 January 2025 and 1 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.