Lambrechts & Van Waes: 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 & Van Waes
Largest movements
- Stocks and contracts -€274,495
down €274,495 (-25.2%), from €1.1m to €814,204
- Cash +€32,740
up €32,740 (+33.7%), from €97,261 to €130,001
mainly Trade debts (+€333,787) and Stocks and contracts (+€274,495)
- Tangible fixed assets -€18,754
down €18,754 (-3.9%), from €480,789 to €462,035
of which Land and buildings: -€18,567
- Short-term financial debts -€750,000
no longer reported in 2025 (was €750,000)
- Trade debts +€333,787
up €333,787 (+474%), from €70,458 to €404,245
- Tax, wage and social debts +€121,307
up €121,307 (+278%), from €43,603 to €164,909
- Current portion of long-term debt +€92,534
up €92,534 (+147%), from €63,126 to €155,660
- Advances received -€80,500
no longer reported in 2025 (was €80,500)
- Provisions +€60,000
no longer reported in 2025 (was -€60,000)
- Gross operating margin +€53,173
up €53,173 (+172%), from €30,972 to €84,145
- Other operating charges -€8,651
down €8,651 (-42.2%), from €20,496 to €11,845
- Financial income -€3,917
down €3,917 (-70.9%), from €5,526 to €1,609
- Taxes +€1,060
up €1,060 (+11.3%), from €9,423 to €10,483
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 | €1,667,051 | €1,406,542 | -€260,509 | -15.6% |
| Fixed assets | 21/28 | €480,789 | €462,035 | -€18,754 | -3.9% |
| Tangible fixed assets | 22/27 | €480,789 | €462,035 | -€18,754 | -3.9% |
| Land and buildings | 22 | €480,601 | €462,035 | -€18,567 | -3.9% |
| Furniture and vehicles | 24 | €188 | - | -€188 | |
| Current assets | 29/58 | €1,186,262 | €944,508 | -€241,755 | -20.4% |
| Stocks and contracts in progress | 3 | €1,088,699 | €814,204 | -€274,495 | -25.2% |
| Stocks | 30/36 | €1,088,699 | €814,204 | -€274,495 | -25.2% |
| Amounts receivable within one year | 40/41 | €303 | €303 | = | 0.0% |
| Trade receivables | 40 | €303 | €303 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €97,261 | €130,001 | +€32,740 | +33.7% |
| Total equity and liabilities | 10/49 | €1,667,051 | €1,406,542 | -€260,509 | -15.6% |
| Equity | 10/15 | €159,364 | €181,728 | +€22,364 | +14.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €134,364 | €156,728 | +€22,364 | +16.6% |
| Amounts payable | 17/49 | €1,507,687 | €1,224,815 | -€282,872 | -18.8% |
| Amounts payable after more than one year | 17 | €500,000 | €500,000 | = | 0.0% |
| Other amounts payable | 178/9 | €500,000 | €500,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,007,687 | €724,815 | -€282,872 | -28.1% |
| Current portion of amounts payable after more than one year | 42 | €63,126 | €155,660 | +€92,534 | +147% |
| Financial debts | 43 | €750,000 | - | -€750,000 | |
| Credit institutions | 430/8 | €750,000 | - | -€750,000 | |
| Trade debts | 44 | €70,458 | €404,245 | +€333,787 | +474% |
| Suppliers | 440/4 | €70,458 | €404,245 | +€333,787 | +474% |
| Advances received on contracts in progress | 46 | €80,500 | - | -€80,500 | |
| Taxes, remuneration and social security | 45 | €43,603 | €164,909 | +€121,307 | +278% |
| Taxes | 450/3 | €43,603 | €164,909 | +€121,307 | +278% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,586 | €18,754 | +€168 | +0.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€60,000 | - | +€60,000 | |
| Other operating charges | 640/8 | €20,496 | €11,845 | -€8,651 | -42.2% |
| Gross operating margin | 9900 | €30,972 | €84,145 | +€53,173 | +172% |
| Operating profit (loss) | 9901 | €51,890 | €53,546 | +€1,656 | +3.2% |
| Financial income | 75/76B | €5,526 | €1,609 | -€3,917 | -70.9% |
| Recurring financial income | 75 | €5,526 | €1,609 | -€3,917 | -70.9% |
| Financial charges | 65/66B | €22,363 | €22,308 | -€54 | -0.2% |
| Recurring financial charges | 65 | €22,363 | €22,308 | -€54 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | €35,053 | €32,846 | -€2,207 | -6.3% |
| Income taxes | 67/77 | €9,423 | €10,483 | +€1,060 | +11.3% |
| Profit (loss) for the period | 9904 | €25,631 | €22,364 | -€3,267 | -12.7% |
| Profit (loss) for the period to be appropriated | 9905 | €25,631 | €22,364 | -€3,267 | -12.7% |
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 29 October 2026 via checked.be.