Lean Finance: what changed
Lean Finance
Largest movements
- Tangible fixed assets +€524,709
up €524,709 (+1,909%), from €27,489 to €552,199
of which Land and buildings: +€472,701
- Cash -€87,384
down €87,384 (-86.3%), from €101,265 to €13,881
mainly Investment in fixed assets (net) (-€613,903) and Contributions, distributions and other (-€85,833)
- Receivables within one year +€51,655
up €51,655 (+188%), from €27,418 to €79,073
of which Other amounts receivable: +€51,655
- Receivables after one year -€45,000
down €45,000 (-100%), from €45,000 to €0
- Debts after one year +€357,395
up €357,395 (+1,851%), from €19,307 to €376,702
- Other debts +€59,200
up €59,200 (+3,625%), from €1,633 to €60,833
- Current portion of long-term debt +€18,935
up €18,935 (+29.1%), from €65,156 to €84,091
- Depreciation +€81,166
up €81,166 (+1,011%), from €8,028 to €89,193
- Gross operating margin +€68,807
up €68,807 (+67.0%), from €102,722 to €171,530
- Financial income +€35,428
up €35,428 (+1,325%), from €2,674 to €38,102
- Financial charges +€7,743
up €7,743 (+453%), from €1,711 to €9,453
- Taxes -€4,827
down €4,827 (-22.3%), from €21,651 to €16,824
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €390,172 | €834,153 | +€443,981 | +114% |
| Fixed assets | 21/28 | €216,489 | €741,199 | +€524,709 | +242% |
| Tangible fixed assets | 22/27 | €27,489 | €552,199 | +€524,709 | +1,909% |
| Land and buildings | 22 | - | €472,701 | +€472,701 | |
| Furniture and vehicles | 24 | €20,745 | €21,016 | +€271 | +1.3% |
| Other tangible fixed assets | 26 | €6,744 | €58,481 | +€51,737 | +767% |
| Financial fixed assets | 28 | €189,000 | €189,000 | = | 0.0% |
| Current assets | 29/58 | €173,683 | €92,954 | -€80,729 | -46.5% |
| Amounts receivable after more than one year | 29 | €45,000 | €0 | -€45,000 | -100% |
| Other amounts receivable | 291 | €45,000 | €0 | -€45,000 | -100% |
| Amounts receivable within one year | 40/41 | €27,418 | €79,073 | +€51,655 | +188% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €27,418 | €79,073 | +€51,655 | +188% |
| Cash at bank and in hand | 54/58 | €101,265 | €13,881 | -€87,384 | -86.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €390,172 | €834,153 | +€443,981 | +114% |
| Equity | 10/15 | €301,651 | €307,555 | +€5,903 | +2.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €299,651 | €305,555 | +€5,903 | +2.0% |
| Distributable reserves | 133 | €299,651 | €305,555 | +€5,903 | +2.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €88,520 | €526,598 | +€438,078 | +495% |
| Amounts payable after more than one year | 17 | €19,307 | €376,702 | +€357,395 | +1,851% |
| Financial debts | 170/4 | €19,307 | €376,702 | +€357,395 | +1,851% |
| Amounts payable within one year | 42/48 | €69,213 | €146,671 | +€77,458 | +112% |
| Current portion of amounts payable after more than one year | 42 | €65,156 | €84,091 | +€18,935 | +29.1% |
| Trade debts | 44 | €2,425 | €1,747 | -€678 | -27.9% |
| Suppliers | 440/4 | €2,425 | €1,747 | -€678 | -27.9% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,633 | €60,833 | +€59,200 | +3,625% |
| Accrued charges and deferred income | 492/3 | - | €3,225 | +€3,225 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,028 | €89,193 | +€81,166 | +1,011% |
| Other operating charges | 640/8 | €916 | €2,425 | +€1,509 | +165% |
| Gross operating margin | 9900 | €102,722 | €171,530 | +€68,807 | +67.0% |
| Operating profit (loss) | 9901 | €93,779 | €79,911 | -€13,868 | -14.8% |
| Financial income | 75/76B | €2,674 | €38,102 | +€35,428 | +1,325% |
| Recurring financial income | 75 | €2,674 | €38,102 | +€35,428 | +1,325% |
| Financial charges | 65/66B | €1,711 | €9,453 | +€7,743 | +453% |
| Recurring financial charges | 65 | €1,711 | €9,453 | +€7,743 | +453% |
| Profit (loss) for the period before taxes | 9903 | €94,743 | €108,560 | +€13,817 | +14.6% |
| Income taxes | 67/77 | €21,651 | €16,824 | -€4,827 | -22.3% |
| Profit (loss) for the period | 9904 | €73,092 | €91,736 | +€18,644 | +25.5% |
| Profit (loss) for the period to be appropriated | 9905 | €73,092 | €91,736 | +€18,644 | +25.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.