LAKEWELL: 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.
LAKEWELL
Largest movements
- Cash +€113,916
up €113,916 (+58.1%), from €196,113 to €310,029
mainly Net result for the year (+€223,497) and Other debts (+€207,168)
- Current investments -€91,275
down €91,275 (-6.8%), from €1.3m to €1.2m
- Receivables within one year -€29,213
down €29,213 (-48.2%), from €60,613 to €31,400
of which Trade receivables: -€44,435
- Tangible fixed assets -€17,521
down €17,521 (-40.5%), from €43,275 to €25,753
of which Furniture and vehicles: -€10,167
- Trade debts -€258,076
down €258,076 (-27.6%), from €935,662 to €677,585
- Other debts +€207,168
up €207,168 (+89.6%), from €231,088 to €438,256
- Advances received +€40,887
up €40,887 (+33.2%), from €123,258 to €164,145
- Staff costs -€77,697
down €77,697 (-41.2%), from €188,490 to €110,793
- Gross operating margin +€42,865
up €42,865 (+10.9%), from €393,165 to €436,030
- Taxes +€24,103
up €24,103 (+49.0%), from €49,160 to €73,263
- Depreciation -€6,715
down €6,715 (-23.0%), from €29,237 to €22,521
- Financial income -€6,214
down €6,214 (-20.6%), from €30,190 to €23,975
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,699,741 | €1,676,686 | -€23,056 | -1.4% |
| Fixed assets | 21/28 | €57,525 | €35,003 | -€22,521 | -39.2% |
| Intangible fixed assets | 21 | €13,750 | €8,750 | -€5,000 | -36.4% |
| Tangible fixed assets | 22/27 | €43,275 | €25,753 | -€17,521 | -40.5% |
| Plant, machinery and equipment | 23 | €9,317 | €4,352 | -€4,965 | -53.3% |
| Furniture and vehicles | 24 | €16,699 | €6,532 | -€10,167 | -60.9% |
| Other tangible fixed assets | 26 | €17,259 | €14,869 | -€2,389 | -13.8% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €1,642,217 | €1,641,683 | -€534 | 0.0% |
| Stocks and contracts in progress | 3 | €44,386 | €49,837 | +€5,452 | +12.3% |
| Stocks | 30/36 | €44,386 | €49,837 | +€5,452 | +12.3% |
| Amounts receivable within one year | 40/41 | €60,613 | €31,400 | -€29,213 | -48.2% |
| Trade receivables | 40 | €59,473 | €15,038 | -€44,435 | -74.7% |
| Other amounts receivable | 41 | €1,141 | €16,362 | +€15,222 | +1,335% |
| Current investments | 50/53 | €1,335,908 | €1,244,633 | -€91,275 | -6.8% |
| Cash at bank and in hand | 54/58 | €196,113 | €310,029 | +€113,916 | +58.1% |
| Deferred charges and accrued income | 490/1 | €5,197 | €5,784 | +€587 | +11.3% |
| Total equity and liabilities | 10/49 | €1,699,741 | €1,676,686 | -€23,056 | -1.4% |
| Equity | 10/15 | €349,901 | €349,901 | = | 0.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €287,901 | €287,901 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €236,250 | €236,250 | = | 0.0% |
| Distributable reserves | 133 | €45,451 | €45,451 | = | 0.0% |
| Amounts payable | 17/49 | €1,349,840 | €1,326,784 | -€23,056 | -1.7% |
| Amounts payable within one year | 42/48 | €1,349,840 | €1,326,784 | -€23,056 | -1.7% |
| Trade debts | 44 | €935,662 | €677,585 | -€258,076 | -27.6% |
| Suppliers | 440/4 | €935,662 | €677,585 | -€258,076 | -27.6% |
| Advances received on contracts in progress | 46 | €123,258 | €164,145 | +€40,887 | +33.2% |
| Taxes, remuneration and social security | 45 | €59,833 | €46,798 | -€13,035 | -21.8% |
| Taxes | 450/3 | €24,282 | €33,793 | +€9,511 | +39.2% |
| Remuneration and social security | 454/9 | €35,550 | €13,005 | -€22,546 | -63.4% |
| Other amounts payable | 47/48 | €231,088 | €438,256 | +€207,168 | +89.6% |
| Remuneration, social security and pensions | 62 | €188,490 | €110,793 | -€77,697 | -41.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,237 | €22,521 | -€6,715 | -23.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €134 | €2,816 | +€2,682 | +1,996% |
| Other operating charges | 640/8 | €4,662 | €4,548 | -€114 | -2.4% |
| Gross operating margin | 9900 | €393,165 | €436,030 | +€42,865 | +10.9% |
| Operating profit (loss) | 9901 | €170,643 | €295,352 | +€124,709 | +73.1% |
| Financial income | 75/76B | €30,190 | €23,975 | -€6,214 | -20.6% |
| Recurring financial income | 75 | €30,190 | €23,975 | -€6,214 | -20.6% |
| Financial charges | 65/66B | €17,812 | €22,567 | +€4,755 | +26.7% |
| Recurring financial charges | 65 | €17,812 | €22,567 | +€4,755 | +26.7% |
| Profit (loss) for the period before taxes | 9903 | €183,020 | €296,760 | +€113,740 | +62.1% |
| Income taxes | 67/77 | €49,160 | €73,263 | +€24,103 | +49.0% |
| Profit (loss) for the period | 9904 | €133,860 | €223,497 | +€89,636 | +67.0% |
| Profit (loss) for the period to be appropriated | 9905 | €133,860 | €223,497 | +€89,636 | +67.0% |
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 20 October 2026 via checked.be.