LAZARD & PARTNERS: 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.
LAZARD & PARTNERS
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Other debts +€125,401
up €125,401 (+14.8%), from €849,347 to €974,747
- Profit (loss) carried forward -€70,006
down €70,006 (-32.8%), from -€213,656 to -€283,662
- Provisions -€29,507
no longer reported in 2025 (was €29,507)
- Debts after one year -€25,000
down €25,000 (-8.9%), from €281,250 to €256,250
- Trade debts -€18,749
down €18,749 (-68.2%), from €27,480 to €8,731
- Gross operating margin +€40,984
up €40,984 (+100.6%), from €40,751 to €81,734
- Depreciation +€16,637
up €16,637 (+13.6%), from €122,288 to €138,926
- Financial charges -€2,044
down €2,044 (-29.7%), from €6,891 to €4,846
- Other operating charges +€1,365
up €1,365 (+23.8%), from €5,740 to €7,105
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.
Cash bridge derived
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 | €1,025,454 | €1,019,028 | -€6,425 | -0.6% |
| Fixed assets | 21/28 | €993,681 | €988,830 | -€4,852 | -0.5% |
| Tangible fixed assets | 22/27 | €993,681 | €988,830 | -€4,852 | -0.5% |
| Land and buildings | 22 | €296,163 | €368,032 | +€71,869 | +24.3% |
| Plant, machinery and equipment | 23 | €1,622 | €1,242 | -€380 | -23.4% |
| Furniture and vehicles | 24 | €26,530 | €16,138 | -€10,393 | -39.2% |
| Leasing and similar rights | 25 | €303,465 | €278,465 | -€25,000 | -8.2% |
| Other tangible fixed assets | 26 | €365,901 | €324,954 | -€40,948 | -11.2% |
| Current assets | 29/58 | €31,773 | €30,199 | -€1,574 | -5.0% |
| Amounts receivable after more than one year | 29 | €15,000 | €15,000 | = | 0.0% |
| Other amounts receivable | 291 | €15,000 | €15,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | - | €4,692 | +€4,692 | |
| Other amounts receivable | 41 | - | €4,692 | +€4,692 | |
| Current investments | 50/53 | €9,815 | €9,815 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €6,958 | €692 | -€6,265 | -90.0% |
| Total equity and liabilities | 10/49 | €1,025,454 | €1,019,028 | -€6,425 | -0.6% |
| Equity | 10/15 | -€193,196 | -€263,202 | -€70,006 | -36.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€213,656 | -€283,662 | -€70,006 | -32.8% |
| Provisions and deferred taxes | 16 | €29,507 | - | -€29,507 | |
| Provisions for liabilities and charges | 160/5 | €29,507 | - | -€29,507 | |
| Pensions and similar obligations | 160 | €29,507 | - | -€29,507 | |
| Amounts payable | 17/49 | €1,189,143 | €1,282,230 | +€93,087 | +7.8% |
| Amounts payable after more than one year | 17 | €281,250 | €256,250 | -€25,000 | -8.9% |
| Financial debts | 170/4 | €281,250 | €256,250 | -€25,000 | -8.9% |
| Amounts payable within one year | 42/48 | €907,894 | €1,025,981 | +€118,087 | +13.0% |
| Current portion of amounts payable after more than one year | 42 | €25,000 | €25,000 | = | 0.0% |
| Financial debts | 43 | €2,056 | €1,167 | -€889 | -43.2% |
| Credit institutions | 430/8 | €2,056 | €1,167 | -€889 | -43.2% |
| Trade debts | 44 | €27,480 | €8,731 | -€18,749 | -68.2% |
| Suppliers | 440/4 | €27,480 | €8,731 | -€18,749 | -68.2% |
| Taxes, remuneration and social security | 45 | €4,010 | €16,335 | +€12,325 | +307.3% |
| Taxes | 450/3 | €4,010 | €16,335 | +€12,325 | +307.3% |
| Other amounts payable | 47/48 | €849,347 | €974,747 | +€125,401 | +14.8% |
| Non-recurring operating income | 76A | - | €29,507 | +€29,507 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €122,288 | €138,926 | +€16,637 | +13.6% |
| Other operating charges | 640/8 | €5,740 | €7,105 | +€1,365 | +23.8% |
| Gross operating margin | 9900 | €40,751 | €81,734 | +€40,984 | +100.6% |
| Operating profit (loss) | 9901 | -€87,278 | -€64,297 | +€22,981 | +26.3% |
| Financial income | 75/76B | €111 | €8 | -€103 | -92.7% |
| Recurring financial income | 75 | €111 | €8 | -€103 | -92.7% |
| Financial charges | 65/66B | €6,891 | €4,846 | -€2,044 | -29.7% |
| Recurring financial charges | 65 | €6,891 | €4,846 | -€2,044 | -29.7% |
| Profit (loss) for the period before taxes | 9903 | -€94,057 | -€69,135 | +€24,922 | +26.5% |
| Income taxes | 67/77 | €751 | €871 | +€120 | +16.0% |
| Profit (loss) for the period | 9904 | -€94,808 | -€70,006 | +€24,802 | +26.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€94,808 | -€70,006 | +€24,802 | +26.2% |
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 10 October 2026 via checked.be.