LANNEAU KURT: 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.
LANNEAU KURT
Largest movements
- Cash +€151,843
up €151,843 (+34.2%), from €444,216 to €596,059
mainly Net result for the year (+€306,920) and Tax, wage and social debts (+€47,477)
- Receivables within one year +€34,961
up €34,961 (+25.4%), from €137,657 to €172,618
of which Trade receivables: +€30,904
- Stocks and contracts +€30,528
up €30,528 (+126%), from €24,305 to €54,833
of which Stocks: +€30,663
- Reserves +€165,444
up €165,444 (+17.6%), from €942,300 to €1.1m
- Tax, wage and social debts +€47,477
up €47,477 (+374%), from €12,706 to €60,183
of which Taxes: +€44,460
- Gross operating margin +€264,534
up €264,534 (+94.9%), from €278,700 to €543,234
- Taxes +€81,359
up €81,359 (+142%), from €57,446 to €138,805
- Write-downs +€11,940
new in 2025: €11,940
- Financial income +€7,436
up €7,436 (+408%), from €1,822 to €9,258
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 | €987,508 | €1,202,262 | +€214,754 | +21.7% |
| Fixed assets | 21/28 | €211,919 | €201,585 | -€10,335 | -4.9% |
| Tangible fixed assets | 22/27 | €209,569 | €199,235 | -€10,335 | -4.9% |
| Land and buildings | 22 | €190,552 | €179,620 | -€10,932 | -5.7% |
| Plant, machinery and equipment | 23 | €695 | €474 | -€221 | -31.8% |
| Furniture and vehicles | 24 | €18,322 | €19,140 | +€818 | +4.5% |
| Financial fixed assets | 28 | €2,350 | €2,350 | = | 0.0% |
| Current assets | 29/58 | €775,589 | €1,000,677 | +€225,089 | +29.0% |
| Stocks and contracts in progress | 3 | €24,305 | €54,833 | +€30,528 | +126% |
| Stocks | 30/36 | €24,170 | €54,833 | +€30,663 | +127% |
| Contracts in progress | 37 | €135 | - | -€135 | |
| Amounts receivable within one year | 40/41 | €137,657 | €172,618 | +€34,961 | +25.4% |
| Trade receivables | 40 | €115,103 | €146,007 | +€30,904 | +26.8% |
| Other amounts receivable | 41 | €22,554 | €26,611 | +€4,057 | +18.0% |
| Current investments | 50/53 | €163,622 | €170,749 | +€7,126 | +4.4% |
| Cash at bank and in hand | 54/58 | €444,216 | €596,059 | +€151,843 | +34.2% |
| Deferred charges and accrued income | 490/1 | €5,789 | €6,419 | +€630 | +10.9% |
| Total equity and liabilities | 10/49 | €987,508 | €1,202,262 | +€214,754 | +21.7% |
| Equity | 10/15 | €944,145 | €1,109,589 | +€165,444 | +17.5% |
| Contributions | 10/11 | €1,845 | €1,845 | = | 0.0% |
| Reserves | 13 | €942,300 | €1,107,744 | +€165,444 | +17.6% |
| Distributable reserves | 133 | €942,300 | €1,107,744 | +€165,444 | +17.6% |
| Amounts payable | 17/49 | €43,363 | €92,673 | +€49,310 | +114% |
| Amounts payable within one year | 42/48 | €43,363 | €92,673 | +€49,310 | +114% |
| Trade debts | 44 | €5,031 | €6,474 | +€1,443 | +28.7% |
| Suppliers | 440/4 | €5,031 | €6,474 | +€1,443 | +28.7% |
| Taxes, remuneration and social security | 45 | €12,706 | €60,183 | +€47,477 | +374% |
| Taxes | 450/3 | €6,503 | €50,964 | +€44,460 | +684% |
| Remuneration and social security | 454/9 | €6,203 | €9,219 | +€3,016 | +48.6% |
| Other amounts payable | 47/48 | €25,626 | €26,016 | +€390 | +1.5% |
| Remuneration, social security and pensions | 62 | €68,318 | €72,589 | +€4,270 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,659 | €17,585 | +€926 | +5.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €11,940 | +€11,940 | |
| Other operating charges | 640/8 | €2,578 | €3,590 | +€1,012 | +39.3% |
| Non-recurring operating charges | 66A | €563 | €361 | -€202 | -35.9% |
| Gross operating margin | 9900 | €278,700 | €543,234 | +€264,534 | +94.9% |
| Operating profit (loss) | 9901 | €190,582 | €437,169 | +€246,587 | +129% |
| Financial income | 75/76B | €1,822 | €9,258 | +€7,436 | +408% |
| Recurring financial income | 75 | €1,822 | €9,258 | +€7,436 | +408% |
| Financial charges | 65/66B | €609 | €702 | +€93 | +15.3% |
| Recurring financial charges | 65 | €609 | €702 | +€93 | +15.3% |
| Profit (loss) for the period before taxes | 9903 | €191,795 | €445,724 | +€253,929 | +132% |
| Income taxes | 67/77 | €57,446 | €138,805 | +€81,359 | +142% |
| Profit (loss) for the period | 9904 | €134,349 | €306,920 | +€172,570 | +128% |
| Profit (loss) for the period to be appropriated | 9905 | €134,349 | €306,920 | +€172,570 | +128% |
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.