LEMAN TWO: 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.
LEMAN TWO
Largest movements
- Tangible fixed assets -€31,250
down €31,250 (-4.6%), from €675,607 to €644,357
of which Land and buildings: -€33,102
- Cash +€8,569
up €8,569 (+50.7%), from €16,899 to €25,468
mainly Depreciation (+€36,316) and Net result for the year (+€7,705)
- Debts after one year -€29,673
down €29,673 (-8.8%), from €338,141 to €308,468
- Profit (loss) carried forward +€7,705
up €7,705 (+9.0%), from -€85,814 to -€78,109
- Gross operating margin +€3,317
up €3,317 (+6.2%), from €53,634 to €56,951
- Financial income +€1,123
up €1,123 (+17573.9%), from €6 to €1,129
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 | €748,465 | €726,980 | -€21,486 | -2.9% |
| Fixed assets | 21/28 | €675,607 | €644,357 | -€31,250 | -4.6% |
| Tangible fixed assets | 22/27 | €675,607 | €644,357 | -€31,250 | -4.6% |
| Land and buildings | 22 | €670,772 | €637,669 | -€33,102 | -4.9% |
| Plant, machinery and equipment | 23 | €4,835 | €6,688 | +€1,853 | +38.3% |
| Current assets | 29/58 | €72,858 | €82,622 | +€9,764 | +13.4% |
| Amounts receivable within one year | 40/41 | €273 | €583 | +€309 | +113.2% |
| Other amounts receivable | 41 | €273 | €583 | +€309 | +113.2% |
| Current investments | 50/53 | €55,686 | €56,572 | +€886 | +1.6% |
| Cash at bank and in hand | 54/58 | €16,899 | €25,468 | +€8,569 | +50.7% |
| Total equity and liabilities | 10/49 | €748,465 | €726,980 | -€21,486 | -2.9% |
| Equity | 10/15 | €24,186 | €31,891 | +€7,705 | +31.9% |
| Contributions | 10/11 | €110,000 | €110,000 | = | 0.0% |
| Capital | 10 | €110,000 | €110,000 | = | 0.0% |
| Issued capital | 100 | €110,000 | €110,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€85,814 | -€78,109 | +€7,705 | +9.0% |
| Amounts payable | 17/49 | €724,279 | €695,088 | -€29,191 | -4.0% |
| Amounts payable after more than one year | 17 | €338,141 | €308,468 | -€29,673 | -8.8% |
| Financial debts | 170/4 | €338,141 | €308,468 | -€29,673 | -8.8% |
| Amounts payable within one year | 42/48 | €383,274 | €383,726 | +€452 | +0.1% |
| Current portion of amounts payable after more than one year | 42 | €29,122 | €29,673 | +€551 | +1.9% |
| Other amounts payable | 47/48 | €354,152 | €354,053 | -€99 | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,865 | €2,895 | +€30 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,988 | €36,316 | +€328 | +0.9% |
| Other operating charges | 640/8 | €6,803 | €7,010 | +€207 | +3.0% |
| Gross operating margin | 9900 | €53,634 | €56,951 | +€3,317 | +6.2% |
| Operating profit (loss) | 9901 | €10,844 | €13,626 | +€2,782 | +25.7% |
| Financial income | 75/76B | €6 | €1,129 | +€1,123 | +17573.9% |
| Recurring financial income | 75 | €6 | €1,129 | +€1,123 | +17573.9% |
| Financial charges | 65/66B | €7,590 | €7,050 | -€541 | -7.1% |
| Recurring financial charges | 65 | €7,590 | €7,050 | -€541 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €3,260 | €7,705 | +€4,446 | +136.4% |
| Income taxes | 67/77 | €2 | - | -€2 | |
| Profit (loss) for the period | 9904 | €3,258 | €7,705 | +€4,447 | +136.5% |
| Profit (loss) for the period to be appropriated | 9905 | €3,258 | €7,705 | +€4,447 | +136.5% |
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 9 October 2026 via checked.be.