Lady At Work: 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.
Lady At Work
Largest movements
- Receivables within one year +€57,769
up €57,769 (+151.1%), from €38,231 to €96,000
of which Trade receivables: +€73,594
- Tangible fixed assets -€41,505
down €41,505 (-4.1%), from €1.0m to €976,483
of which Land and buildings: -€23,037
- Cash -€27,717
down €27,717 (-23.7%), from €117,106 to €89,389
mainly Contributions, distributions and other (-€80,000) and Debts after one year (-€60,992)
- Reserves +€61,223
up €61,223 (+23.7%), from €258,838 to €320,060
of which Distributable reserves: +€61,223
- Debts after one year -€60,992
down €60,992 (-8.7%), from €701,956 to €640,965
- Trade debts -€19,848
down €19,848 (-59.6%), from €33,310 to €13,462
- Other debts -€14,623
down €14,623 (-17.8%), from €81,958 to €67,336
- Gross operating margin +€63,752
up €63,752 (+23.8%), from €267,444 to €331,196
- Taxes +€36,169
up €36,169 (+94.3%), from €38,364 to €74,533
- Financial charges -€8,035
down €8,035 (-24.4%), from €32,973 to €24,938
- Staff costs -€6,979
down €6,979 (-39.0%), from €17,897 to €10,919
- Depreciation +€4,525
up €4,525 (+6.4%), from €70,318 to €74,843
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 | €1,193,338 | €1,171,332 | -€22,007 | -1.8% |
| Fixed assets | 21/28 | €1,017,988 | €976,483 | -€41,505 | -4.1% |
| Tangible fixed assets | 22/27 | €1,017,988 | €976,483 | -€41,505 | -4.1% |
| Land and buildings | 22 | €935,172 | €912,135 | -€23,037 | -2.5% |
| Plant, machinery and equipment | 23 | - | €3,235 | +€3,235 | |
| Furniture and vehicles | 24 | €82,816 | €61,113 | -€21,703 | -26.2% |
| Current assets | 29/58 | €175,350 | €194,849 | +€19,499 | +11.1% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €38,231 | €96,000 | +€57,769 | +151.1% |
| Trade receivables | 40 | €22,406 | €96,000 | +€73,594 | +328.5% |
| Other amounts receivable | 41 | €15,825 | €0 | -€15,825 | -100.0% |
| Current investments | 50/53 | €6,880 | €6,880 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €117,106 | €89,389 | -€27,717 | -23.7% |
| Deferred charges and accrued income | 490/1 | €13,133 | €2,580 | -€10,553 | -80.4% |
| Total equity and liabilities | 10/49 | €1,193,338 | €1,171,332 | -€22,007 | -1.8% |
| Equity | 10/15 | €277,438 | €338,660 | +€61,223 | +22.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €258,838 | €320,060 | +€61,223 | +23.7% |
| Tax-exempt reserves | 132 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €251,338 | €312,560 | +€61,223 | +24.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €915,901 | €832,671 | -€83,230 | -9.1% |
| Amounts payable after more than one year | 17 | €701,956 | €640,965 | -€60,992 | -8.7% |
| Financial debts | 170/4 | €701,956 | €640,965 | -€60,992 | -8.7% |
| Amounts payable within one year | 42/48 | €213,944 | €191,706 | -€22,238 | -10.4% |
| Current portion of amounts payable after more than one year | 42 | €69,352 | €70,415 | +€1,063 | +1.5% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €33,310 | €13,462 | -€19,848 | -59.6% |
| Suppliers | 440/4 | €33,310 | €13,462 | -€19,848 | -59.6% |
| Taxes, remuneration and social security | 45 | €29,323 | €40,494 | +€11,170 | +38.1% |
| Taxes | 450/3 | €25,132 | €40,494 | +€15,362 | +61.1% |
| Remuneration and social security | 454/9 | €4,192 | €0 | -€4,192 | -100.0% |
| Other amounts payable | 47/48 | €81,958 | €67,336 | -€14,623 | -17.8% |
| Remuneration, social security and pensions | 62 | €17,897 | €10,919 | -€6,979 | -39.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,318 | €74,843 | +€4,525 | +6.4% |
| Other operating charges | 640/8 | €5,991 | €5,377 | -€614 | -10.3% |
| Gross operating margin | 9900 | €267,444 | €331,196 | +€63,752 | +23.8% |
| Operating profit (loss) | 9901 | €173,237 | €240,057 | +€66,820 | +38.6% |
| Financial income | 75/76B | €688 | €636 | -€52 | -7.6% |
| Recurring financial income | 75 | €688 | €636 | -€52 | -7.6% |
| Financial charges | 65/66B | €32,973 | €24,938 | -€8,035 | -24.4% |
| Recurring financial charges | 65 | €32,973 | €24,938 | -€8,035 | -24.4% |
| Profit (loss) for the period before taxes | 9903 | €140,952 | €215,756 | +€74,803 | +53.1% |
| Income taxes | 67/77 | €38,364 | €74,533 | +€36,169 | +94.3% |
| Profit (loss) for the period | 9904 | €102,589 | €141,223 | +€38,634 | +37.7% |
| Profit (loss) for the period to be appropriated | 9905 | €102,589 | €141,223 | +€38,634 | +37.7% |
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 10 October 2026 via checked.be.