LAMBRECHTS STUDEONT: 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.
LAMBRECHTS STUDEONT
Largest movements
- Tangible fixed assets +€445,847
up €445,847 (+34.6%), from €1.3m to €1.7m
of which Assets under construction and advance payments: +€253,259
- Current investments -€361,715
down €361,715 (-16.3%), from €2.2m to €1.9m
- Receivables after one year +€346,500
up €346,500 (+231%), from €150,000 to €496,500
- Cash -€170,346
down €170,346 (-55.1%), from €309,096 to €138,750
mainly Investment in fixed assets (net) (-€533,608) and Receivables after one year (-€346,500)
- Short-term financial debts +€486,606
new in 2025: €486,606
- Reserves -€249,787
down €249,787 (-9.5%), from €2.6m to €2.4m
of which Distributable reserves: -€249,787
- Tax, wage and social debts -€63,019
down €63,019 (-67.6%), from €93,266 to €30,247
- Trade debts +€50,406
up €50,406 (+137%), from €36,897 to €87,303
- Gross operating margin -€211,708
down €211,708, from €47,396 to -€164,312
- Financial charges +€18,354
up €18,354, from -€10,361 to €7,993
- Financial income -€8,635
down €8,635 (-13.5%), from €64,007 to €55,371
- Other operating charges +€8,402
up €8,402 (+26.2%), from €32,047 to €40,449
- Taxes +€4,402
up €4,402 (+1,822%), from €242 to €4,644
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 | €4,123,007 | €4,347,211 | +€224,205 | +5.4% |
| Fixed assets | 21/28 | €1,287,446 | €1,733,293 | +€445,847 | +34.6% |
| Tangible fixed assets | 22/27 | €1,287,446 | €1,733,293 | +€445,847 | +34.6% |
| Land and buildings | 22 | €980,241 | €1,196,922 | +€216,681 | +22.1% |
| Plant, machinery and equipment | 23 | €113,854 | €102,606 | -€11,248 | -9.9% |
| Furniture and vehicles | 24 | €23,800 | €19,664 | -€4,135 | -17.4% |
| Other tangible fixed assets | 26 | €70,975 | €62,265 | -€8,710 | -12.3% |
| Assets under construction and advance payments | 27 | €98,577 | €351,836 | +€253,259 | +257% |
| Current assets | 29/58 | €2,835,560 | €2,613,918 | -€221,642 | -7.8% |
| Amounts receivable after more than one year | 29 | €150,000 | €496,500 | +€346,500 | +231% |
| Other amounts receivable | 291 | €150,000 | €496,500 | +€346,500 | +231% |
| Amounts receivable within one year | 40/41 | €77,602 | €64,402 | -€13,200 | -17.0% |
| Trade receivables | 40 | €21,897 | €21,517 | -€380 | -1.7% |
| Other amounts receivable | 41 | €55,705 | €42,884 | -€12,821 | -23.0% |
| Current investments | 50/53 | €2,218,351 | €1,856,636 | -€361,715 | -16.3% |
| Cash at bank and in hand | 54/58 | €309,096 | €138,750 | -€170,346 | -55.1% |
| Deferred charges and accrued income | 490/1 | €80,511 | €57,630 | -€22,881 | -28.4% |
| Total equity and liabilities | 10/49 | €4,123,007 | €4,347,211 | +€224,205 | +5.4% |
| Equity | 10/15 | €3,992,843 | €3,743,056 | -€249,787 | -6.3% |
| Contributions | 10/11 | €1,100,000 | €1,100,000 | = | 0.0% |
| Capital | 10 | €1,100,000 | €1,100,000 | = | 0.0% |
| Issued capital | 100 | €1,100,000 | €1,100,000 | = | 0.0% |
| Revaluation surpluses | 12 | €272,285 | €272,285 | = | 0.0% |
| Reserves | 13 | €2,620,558 | €2,370,770 | -€249,787 | -9.5% |
| Non-distributable reserves | 130/1 | €124,874 | €124,874 | = | 0.0% |
| Legal reserve | 130 | €110,000 | €110,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €14,874 | €14,874 | = | 0.0% |
| Distributable reserves | 133 | €2,495,684 | €2,245,897 | -€249,787 | -10.0% |
| Amounts payable | 17/49 | €130,164 | €604,156 | +€473,992 | +364% |
| Amounts payable within one year | 42/48 | €130,164 | €604,156 | +€473,992 | +364% |
| Financial debts | 43 | - | €486,606 | +€486,606 | |
| Credit institutions | 430/8 | - | €486,606 | +€486,606 | |
| Trade debts | 44 | €36,897 | €87,303 | +€50,406 | +137% |
| Suppliers | 440/4 | €36,897 | €87,303 | +€50,406 | +137% |
| Taxes, remuneration and social security | 45 | €93,266 | €30,247 | -€63,019 | -67.6% |
| Taxes | 450/3 | €93,266 | €30,247 | -€63,019 | -67.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,166 | €87,761 | -€3,406 | -3.7% |
| Other operating charges | 640/8 | €32,047 | €40,449 | +€8,402 | +26.2% |
| Gross operating margin | 9900 | €47,396 | -€164,312 | -€211,708 | |
| Operating profit (loss) | 9901 | -€75,817 | -€292,521 | -€216,704 | -286% |
| Financial income | 75/76B | €64,007 | €55,371 | -€8,635 | -13.5% |
| Recurring financial income | 75 | €64,007 | €55,371 | -€8,635 | -13.5% |
| Financial charges | 65/66B | -€10,361 | €7,993 | +€18,354 | |
| Recurring financial charges | 65 | -€10,361 | €7,993 | +€18,354 | |
| Profit (loss) for the period before taxes | 9903 | -€1,449 | -€245,143 | -€243,694 | -16,817% |
| Income taxes | 67/77 | €242 | €4,644 | +€4,402 | +1,822% |
| Profit (loss) for the period | 9904 | -€1,691 | -€249,787 | -€248,096 | -14,674% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,691 | -€249,787 | -€248,096 | -14,674% |
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 23 October 2026 via checked.be.