GUY LESCRENIER: 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.
GUY LESCRENIER
Largest movements
- Receivables within one year -€129,792
down €129,792 (-81.5%), from €159,176 to €29,384
of which Trade receivables: -€130,733
- Stocks and contracts +€85,000
up €85,000 (+850.0%), from €10,000 to €95,000
- Cash +€75,042
up €75,042 (+54.1%), from €138,645 to €213,687
mainly Receivables within one year (+€129,792) and Net result for the year (+€25,204)
- Tangible fixed assets +€4,731
up €4,731 (+33.9%), from €13,968 to €18,700
of which Land and buildings: +€6,172
- Reserves +€20,000
up €20,000 (+31.6%), from €63,223 to €83,223
of which Distributable reserves: +€71,364
- Trade debts +€12,969
up €12,969 (+9633.1%), from €135 to €13,104
- Profit (loss) carried forward +€5,204
up €5,204 (+7.4%), from €70,211 to €75,416
- Other debts -€4,025
down €4,025 (-2.8%), from €143,642 to €139,618
- Gross operating margin +€142,870
up €142,870 (+347.6%), from €41,107 to €183,977
- Write-downs +€127,386
new in 2025: €127,386
- Taxes +€3,742
up €3,742 (+47.4%), from €7,898 to €11,641
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 | €321,790 | €356,770 | +€34,980 | +10.9% |
| Fixed assets | 21/28 | €13,968 | €18,700 | +€4,731 | +33.9% |
| Tangible fixed assets | 22/27 | €13,968 | €18,700 | +€4,731 | +33.9% |
| Land and buildings | 22 | €12,528 | €18,700 | +€6,172 | +49.3% |
| Plant, machinery and equipment | 23 | €1,441 | - | -€1,441 | |
| Current assets | 29/58 | €307,821 | €338,071 | +€30,249 | +9.8% |
| Stocks and contracts in progress | 3 | €10,000 | €95,000 | +€85,000 | +850.0% |
| Stocks | 30/36 | €10,000 | €95,000 | +€85,000 | +850.0% |
| Amounts receivable within one year | 40/41 | €159,176 | €29,384 | -€129,792 | -81.5% |
| Trade receivables | 40 | €152,686 | €21,953 | -€130,733 | -85.6% |
| Other amounts receivable | 41 | €6,490 | €7,430 | +€941 | +14.5% |
| Cash at bank and in hand | 54/58 | €138,645 | €213,687 | +€75,042 | +54.1% |
| Total equity and liabilities | 10/49 | €321,790 | €356,770 | +€34,980 | +10.9% |
| Equity | 10/15 | €176,369 | €201,573 | +€25,204 | +14.3% |
| Contributions | 10/11 | €42,935 | €42,935 | = | 0.0% |
| Reserves | 13 | €63,223 | €83,223 | +€20,000 | +31.6% |
| Non-distributable reserves | 130/1 | €51,364 | - | -€51,364 | |
| Reserves not available under the articles | 1311 | €51,364 | - | -€51,364 | |
| Distributable reserves | 133 | €11,859 | €83,223 | +€71,364 | +601.8% |
| Profit (loss) carried forward | 14 | €70,211 | €75,416 | +€5,204 | +7.4% |
| Amounts payable | 17/49 | €145,421 | €155,197 | +€9,776 | +6.7% |
| Amounts payable within one year | 42/48 | €145,421 | €155,197 | +€9,776 | +6.7% |
| Trade debts | 44 | €135 | €13,104 | +€12,969 | +9633.1% |
| Suppliers | 440/4 | €135 | €13,104 | +€12,969 | +9633.1% |
| Taxes, remuneration and social security | 45 | €1,644 | €2,476 | +€832 | +50.6% |
| Taxes | 450/3 | - | €641 | +€641 | |
| Remuneration and social security | 454/9 | €1,644 | €1,835 | +€191 | +11.6% |
| Other amounts payable | 47/48 | €143,642 | €139,618 | -€4,025 | -2.8% |
| Remuneration, social security and pensions | 62 | €11,279 | €11,864 | +€585 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,679 | €6,269 | +€590 | +10.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €127,386 | +€127,386 | |
| Other operating charges | 640/8 | €540 | €1,444 | +€904 | +167.5% |
| Gross operating margin | 9900 | €41,107 | €183,977 | +€142,870 | +347.6% |
| Operating profit (loss) | 9901 | €23,610 | €37,015 | +€13,405 | +56.8% |
| Financial income | 75/76B | €125 | €5 | -€120 | -96.0% |
| Recurring financial income | 75 | €125 | €5 | -€120 | -96.0% |
| Financial charges | 65/66B | €91 | €175 | +€84 | +92.2% |
| Recurring financial charges | 65 | €91 | €175 | +€84 | +92.2% |
| Profit (loss) for the period before taxes | 9903 | €23,644 | €36,845 | +€13,201 | +55.8% |
| Income taxes | 67/77 | €7,898 | €11,641 | +€3,742 | +47.4% |
| Profit (loss) for the period | 9904 | €15,745 | €25,204 | +€9,459 | +60.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,745 | €25,204 | +€9,459 | +60.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.