FERNAND LEMMENS: 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.
What changed
FERNAND LEMMENS
NACE 13.940, Manufacture of textiles
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€234,551
2024 · €663,911-€429,360
Equity
€5.3m
2024 · €5.1m+€204,204
Cash
€227,808
2024 · €427,416-€199,608
Balance sheet total
€6.8m
2024 · €7.2m-€415,669
Largest movements
Assets
- Stocks and contracts +€514,889
up €514,889 (+21.8%), from €2.4m to €2.9m
- Current investments -€499,435
down €499,435 (-75.9%), from €657,973 to €158,538
- Cash -€199,608
down €199,608 (-46.7%), from €427,416 to €227,808
mainly Stocks and contracts (-€514,889) and Other debts (-€359,085)
- Tangible fixed assets -€199,205
down €199,205 (-9.2%), from €2.2m to €2.0m
of which Land and buildings: -€156,272
Equity and liabilities
- Other debts -€359,085
down €359,085 (-93.1%), from €385,880 to €26,795
- Profit (loss) carried forward +€245,555
up €245,555 (+9.2%), from €2.7m to €2.9m
- Debts after one year -€117,669
down €117,669 (-25.9%), from €454,690 to €337,021
of which Financial debts: -€102,669
- Trade debts -€89,624
down €89,624 (-10.9%), from €820,045 to €730,421
Income statement
- Gross operating margin -€511,775
down €511,775 (-20.3%), from €2.5m to €2.0m
- Write-downs +€188,986
up €188,986, from -€26,916 to €162,071
- Taxes -€97,502
down €97,502 (-46.1%), from €211,617 to €114,116
- Staff costs -€72,576
down €72,576 (-5.9%), from €1.2m to €1.2m
- Other operating charges -€36,223
down €36,223 (-46.9%), from €77,238 to €41,015
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.
Result 2024
€663,911
Gross operating margin
-€511,775
Staff costs
+€72,576
Depreciation
-€18,493
Write-downs
-€188,986
Other operating charges
+€36,223
Other operating items
+€7,130
Financial income
+€15,352
Financial charges
+€6,063
Taxes
+€97,502
Deferred taxes and other
+€55,049
Result 2025
€234,551
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€374,187
Investment
+€340,827
Financing
-€166,249
Cash 2024
€427,416
From operations (derived)
-€374,187
Net result for the year
+€234,551
Depreciation
+€317,705
Stocks and contracts
-€514,889
Receivables within one year
+€61,860
Deferred charges and accrued income
+€10,557
Provisions
-€10,430
Trade debts
-€89,624
Tax, wage and social debts
-€18,567
Other debts
-€359,085
Accrued charges and deferred income
-€6,265
Investment (derived)
+€340,827
Investment in fixed assets (net)
-€158,608
Current investments
+€499,435
Financing
-€166,249
Debts after one year
-€117,669
Current portion of long-term debt
-€18,234
Contributions, distributions and other
-€30,346
Cash 2025
€227,808
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,246,849 | €6,831,181 | -€415,669 | -5.7% |
| Fixed assets | 21/28 | €2,192,523 | €2,033,426 | -€159,097 | -7.3% |
| Intangible fixed assets | 21 | €23,374 | €63,482 | +€40,108 | +172% |
| Tangible fixed assets | 22/27 | €2,167,849 | €1,968,644 | -€199,205 | -9.2% |
| Land and buildings | 22 | €1,914,284 | €1,758,011 | -€156,272 | -8.2% |
| Plant, machinery and equipment | 23 | €69,169 | €99,293 | +€30,123 | +43.6% |
| Furniture and vehicles | 24 | €182,946 | €109,890 | -€73,056 | -39.9% |
| Other tangible fixed assets | 26 | €1,450 | €1,450 | = | 0.0% |
| Financial fixed assets | 28 | €1,300 | €1,300 | = | 0.0% |
| Current assets | 29/58 | €5,054,326 | €4,797,755 | -€256,572 | -5.1% |
| Stocks and contracts in progress | 3 | €2,359,609 | €2,874,498 | +€514,889 | +21.8% |
| Stocks | 30/36 | €2,359,609 | €2,874,498 | +€514,889 | +21.8% |
| Amounts receivable within one year | 40/41 | €1,587,606 | €1,525,746 | -€61,860 | -3.9% |
| Trade receivables | 40 | €1,577,736 | €1,506,197 | -€71,538 | -4.5% |
| Other amounts receivable | 41 | €9,871 | €19,549 | +€9,678 | +98.1% |
| Current investments | 50/53 | €657,973 | €158,538 | -€499,435 | -75.9% |
| Cash at bank and in hand | 54/58 | €427,416 | €227,808 | -€199,608 | -46.7% |
| Deferred charges and accrued income | 490/1 | €21,721 | €11,164 | -€10,557 | -48.6% |
| Total equity and liabilities | 10/49 | €7,246,849 | €6,831,181 | -€415,669 | -5.7% |
| Equity | 10/15 | €5,125,090 | €5,329,294 | +€204,204 | +4.0% |
| Contributions | 10/11 | €620,000 | €620,000 | = | 0.0% |
| Capital | 10 | €620,000 | €620,000 | = | 0.0% |
| Issued capital | 100 | €620,000 | €620,000 | = | 0.0% |
| Reserves | 13 | €1,746,757 | €1,715,467 | -€31,290 | -1.8% |
| Non-distributable reserves | 130/1 | €62,453 | €62,453 | = | 0.0% |
| Legal reserve | 130 | €62,000 | €62,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €453 | €453 | = | 0.0% |
| Tax-exempt reserves | 132 | €548,304 | €348,614 | -€199,690 | -36.4% |
| Distributable reserves | 133 | €1,136,000 | €1,304,400 | +€168,400 | +14.8% |
| Profit (loss) carried forward | 14 | €2,658,489 | €2,904,044 | +€245,555 | +9.2% |
| Investment grants | 15 | €99,844 | €89,784 | -€10,060 | -10.1% |
| Provisions and deferred taxes | 16 | €48,678 | €38,248 | -€10,430 | -21.4% |
| Deferred taxes | 168 | €48,678 | €38,248 | -€10,430 | -21.4% |
| Amounts payable | 17/49 | €2,073,082 | €1,463,639 | -€609,443 | -29.4% |
| Amounts payable after more than one year | 17 | €454,690 | €337,021 | -€117,669 | -25.9% |
| Financial debts | 170/4 | €154,690 | €52,021 | -€102,669 | -66.4% |
| Other amounts payable | 178/9 | €300,000 | €285,000 | -€15,000 | -5.0% |
| Amounts payable within one year | 42/48 | €1,591,418 | €1,105,908 | -€485,510 | -30.5% |
| Current portion of amounts payable after more than one year | 42 | €120,902 | €102,669 | -€18,234 | -15.1% |
| Trade debts | 44 | €820,045 | €730,421 | -€89,624 | -10.9% |
| Suppliers | 440/4 | €820,045 | €730,421 | -€89,624 | -10.9% |
| Taxes, remuneration and social security | 45 | €264,591 | €246,023 | -€18,567 | -7.0% |
| Taxes | 450/3 | €118,532 | €119,482 | +€949 | +0.8% |
| Remuneration and social security | 454/9 | €146,059 | €126,542 | -€19,517 | -13.4% |
| Other amounts payable | 47/48 | €385,880 | €26,795 | -€359,085 | -93.1% |
| Accrued charges and deferred income | 492/3 | €26,974 | €20,709 | -€6,265 | -23.2% |
| Non-recurring operating income | 76A | €195,434 | €0 | -€195,434 | -100% |
| Remuneration, social security and pensions | 62 | €1,223,553 | €1,150,977 | -€72,576 | -5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €299,212 | €317,705 | +€18,493 | +6.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€26,916 | €162,071 | +€188,986 | |
| Other operating charges | 640/8 | €77,238 | €41,015 | -€36,223 | -46.9% |
| Non-recurring operating charges | 66A | €9,212 | €2,083 | -€7,130 | -77.4% |
| Gross operating margin | 9900 | €2,525,879 | €2,014,104 | -€511,775 | -20.3% |
| Operating profit (loss) | 9901 | €943,580 | €340,254 | -€603,325 | -63.9% |
| Financial income | 75/76B | €37,511 | €52,863 | +€15,352 | +40.9% |
| Recurring financial income | 75 | €37,511 | €52,863 | +€15,352 | +40.9% |
| Financial charges | 65/66B | €60,943 | €54,881 | -€6,063 | -9.9% |
| Recurring financial charges | 65 | €60,943 | €54,881 | -€6,063 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | €920,147 | €338,236 | -€581,911 | -63.2% |
| Transfer from deferred taxes | 780 | €4,090 | €10,430 | +€6,341 | +155% |
| Transfer to deferred taxes | 680 | €48,708 | €0 | -€48,708 | -100% |
| Income taxes | 67/77 | €211,617 | €114,116 | -€97,502 | -46.1% |
| Profit (loss) for the period | 9904 | €663,911 | €234,551 | -€429,360 | -64.7% |
| Transfer from tax-exempt reserves | 789 | €12,269 | €199,690 | +€187,422 | +1,528% |
| Transfer to tax-exempt reserves | 689 | €146,125 | €0 | -€146,125 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €530,054 | €434,241 | -€95,813 | -18.1% |
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 26 October 2026 via checked.be.