LECTOR: what changed
Two fiscal 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.
LECTOR
Largest movements
- Cash +€37,471
up €37,471 (+99.0%), from €37,856 to €75,327
mainly Net result for the year (+€114,611) and Depreciation (+€36,094)
- Receivables within one year +€29,577
up €29,577 (+103.5%), from €28,569 to €58,146
of which Trade receivables: +€34,039
- Tangible fixed assets -€16,908
down €16,908 (-3.5%), from €489,706 to €472,798
of which Land and buildings: -€26,358
- Reserves +€67,649
up €67,649 (+11.9%), from €566,432 to €634,081
of which Distributable reserves: +€73,374
- Debts after one year -€21,380
down €21,380 (-22.2%), from €96,431 to €75,051
- Trade debts -€17,884
down €17,884 (-82.7%), from €21,620 to €3,736
- Tax, wage and social debts +€17,559
up €17,559 (+64.6%), from €27,179 to €44,738
- Other debts +€10,664
up €10,664 (+82.8%), from €12,879 to €23,543
- Gross operating margin +€47,113
up €47,113 (+28.8%), from €163,422 to €210,535
- Taxes +€13,637
up €13,637 (+33.7%), from €40,420 to €54,058
- Depreciation +€4,214
up €4,214 (+13.2%), from €31,880 to €36,094
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 | €825,672 | €872,319 | +€46,647 | +5.6% |
| Fixed assets | 21/28 | €489,706 | €472,798 | -€16,908 | -3.5% |
| Tangible fixed assets | 22/27 | €489,706 | €472,798 | -€16,908 | -3.5% |
| Land and buildings | 22 | €475,958 | €449,600 | -€26,358 | -5.5% |
| Plant, machinery and equipment | 23 | €819 | €1,730 | +€911 | +111.2% |
| Furniture and vehicles | 24 | €12,929 | €21,467 | +€8,539 | +66.0% |
| Current assets | 29/58 | €335,966 | €399,521 | +€63,556 | +18.9% |
| Amounts receivable within one year | 40/41 | €28,569 | €58,146 | +€29,577 | +103.5% |
| Trade receivables | 40 | €23,971 | €58,009 | +€34,039 | +142.0% |
| Other amounts receivable | 41 | €4,599 | €137 | -€4,461 | -97.0% |
| Current investments | 50/53 | €262,612 | €263,214 | +€602 | +0.2% |
| Cash at bank and in hand | 54/58 | €37,856 | €75,327 | +€37,471 | +99.0% |
| Deferred charges and accrued income | 490/1 | €6,929 | €2,835 | -€4,095 | -59.1% |
| Total equity and liabilities | 10/49 | €825,672 | €872,319 | +€46,647 | +5.6% |
| Equity | 10/15 | €585,032 | €652,681 | +€67,649 | +11.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €566,432 | €634,081 | +€67,649 | +11.9% |
| Tax-exempt reserves | 132 | €71,576 | €65,852 | -€5,724 | -8.0% |
| Distributable reserves | 133 | €494,856 | €568,229 | +€73,374 | +14.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €44,061 | €41,114 | -€2,948 | -6.7% |
| Deferred taxes | 168 | €44,061 | €41,114 | -€2,948 | -6.7% |
| Amounts payable | 17/49 | €196,579 | €178,525 | -€18,055 | -9.2% |
| Amounts payable after more than one year | 17 | €96,431 | €75,051 | -€21,380 | -22.2% |
| Financial debts | 170/4 | €96,431 | €75,051 | -€21,380 | -22.2% |
| Amounts payable within one year | 42/48 | €99,601 | €103,474 | +€3,873 | +3.9% |
| Current portion of amounts payable after more than one year | 42 | €29,437 | €21,380 | -€8,057 | -27.4% |
| Financial debts | 43 | €8,486 | €10,076 | +€1,590 | +18.7% |
| Credit institutions | 430/8 | €8,486 | €10,076 | +€1,590 | +18.7% |
| Trade debts | 44 | €21,620 | €3,736 | -€17,884 | -82.7% |
| Suppliers | 440/4 | €21,620 | €3,736 | -€17,884 | -82.7% |
| Taxes, remuneration and social security | 45 | €27,179 | €44,738 | +€17,559 | +64.6% |
| Taxes | 450/3 | €27,179 | €44,738 | +€17,559 | +64.6% |
| Other amounts payable | 47/48 | €12,879 | €23,543 | +€10,664 | +82.8% |
| Accrued charges and deferred income | 492/3 | €547 | €0 | -€547 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,880 | €36,094 | +€4,214 | +13.2% |
| Other operating charges | 640/8 | €4,637 | €4,046 | -€591 | -12.8% |
| Non-recurring operating charges | 66A | - | €993 | +€993 | |
| Gross operating margin | 9900 | €163,422 | €210,535 | +€47,113 | +28.8% |
| Operating profit (loss) | 9901 | €126,905 | €169,402 | +€42,498 | +33.5% |
| Financial income | 75/76B | €36 | €807 | +€772 | +2170.1% |
| Recurring financial income | 75 | €36 | €807 | +€772 | +2170.1% |
| Financial charges | 65/66B | €5,025 | €4,489 | -€536 | -10.7% |
| Recurring financial charges | 65 | €5,025 | €4,489 | -€536 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €121,915 | €165,721 | +€43,806 | +35.9% |
| Transfer from deferred taxes | 780 | €3,900 | €2,948 | -€953 | -24.4% |
| Income taxes | 67/77 | €40,420 | €54,058 | +€13,637 | +33.7% |
| Profit (loss) for the period | 9904 | €85,396 | €114,611 | +€29,215 | +34.2% |
| Transfer from tax-exempt reserves | 789 | €7,575 | €5,724 | -€1,851 | -24.4% |
| Profit (loss) for the period to be appropriated | 9905 | €92,971 | €120,335 | +€27,365 | +29.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.