LAURENCE LAMBERT: 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.
LAURENCE LAMBERT
Largest movements
- Tangible fixed assets -€15,358
down €15,358 (-41.3%), from €37,146 to €21,788
of which Land and buildings: -€12,450
- Stocks and contracts -€6,872
no longer reported in 2025 (was €6,872)
- Cash +€1,392
up €1,392 (+235%), from €593 to €1,985
mainly Depreciation (+€15,358) and Stocks and contracts (+€6,872)
- Current portion of long-term debt -€14,786
down €14,786 (-62.7%), from €23,582 to €8,796
- Debts after one year -€8,796
no longer reported in 2025 (was €8,796)
- Trade debts +€1,600
new in 2025: €1,600
- Profit (loss) carried forward +€1,015
up €1,015 (+0.6%), from -€160,445 to -€159,431
- Write-downs +€6,872
new in 2025: €6,872
- Gross operating margin +€3,294
up €3,294 (+14.5%), from €22,725 to €26,020
- Other operating charges +€2,213
new in 2025: €2,213
- Taxes -€2,145
no longer reported in 2025 (was €2,145)
- Depreciation -€2,078
down €2,078 (-11.9%), from €17,436 to €15,358
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 | €45,262 | €24,294 | -€20,967 | -46.3% |
| Fixed assets | 21/28 | €37,668 | €22,309 | -€15,358 | -40.8% |
| Tangible fixed assets | 22/27 | €37,146 | €21,788 | -€15,358 | -41.3% |
| Land and buildings | 22 | €34,238 | €21,788 | -€12,450 | -36.4% |
| Other tangible fixed assets | 26 | €2,908 | - | -€2,908 | |
| Financial fixed assets | 28 | €522 | €522 | = | 0.0% |
| Current assets | 29/58 | €7,594 | €1,985 | -€5,609 | -73.9% |
| Stocks and contracts in progress | 3 | €6,872 | - | -€6,872 | |
| Stocks | 30/36 | €6,872 | - | -€6,872 | |
| Cash at bank and in hand | 54/58 | €593 | €1,985 | +€1,392 | +235% |
| Deferred charges and accrued income | 490/1 | €129 | - | -€129 | |
| Total equity and liabilities | 10/49 | €45,262 | €24,294 | -€20,967 | -46.3% |
| Equity | 10/15 | -€9,345 | -€8,330 | +€1,015 | +10.9% |
| Contributions | 10/11 | €6,185 | €6,185 | = | 0.0% |
| Reserves | 13 | €144,915 | €144,915 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €143,056 | €143,056 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€160,445 | -€159,431 | +€1,015 | +0.6% |
| Amounts payable | 17/49 | €54,607 | €32,625 | -€21,982 | -40.3% |
| Amounts payable after more than one year | 17 | €8,796 | - | -€8,796 | |
| Financial debts | 170/4 | €8,796 | - | -€8,796 | |
| Amounts payable within one year | 42/48 | €45,811 | €32,625 | -€13,186 | -28.8% |
| Current portion of amounts payable after more than one year | 42 | €23,582 | €8,796 | -€14,786 | -62.7% |
| Trade debts | 44 | - | €1,600 | +€1,600 | |
| Suppliers | 440/4 | - | €1,600 | +€1,600 | |
| Other amounts payable | 47/48 | €22,229 | €22,229 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,436 | €15,358 | -€2,078 | -11.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €6,872 | +€6,872 | |
| Other operating charges | 640/8 | - | €2,213 | +€2,213 | |
| Gross operating margin | 9900 | €22,725 | €26,020 | +€3,294 | +14.5% |
| Operating profit (loss) | 9901 | €5,289 | €1,577 | -€3,713 | -70.2% |
| Financial charges | 65/66B | €638 | €562 | -€76 | -11.9% |
| Recurring financial charges | 65 | €638 | €562 | -€76 | -11.9% |
| Profit (loss) for the period before taxes | 9903 | €4,652 | €1,015 | -€3,637 | -78.2% |
| Income taxes | 67/77 | €2,145 | - | -€2,145 | |
| Profit (loss) for the period | 9904 | €2,506 | €1,015 | -€1,492 | -59.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,506 | €1,015 | -€1,492 | -59.5% |
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 15 October 2026 via checked.be.