LEMBRECHTS DAVE: 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.
LEMBRECHTS DAVE
Largest movements
- Cash -€138,674
down €138,674 (-69.1%), from €200,578 to €61,905
mainly Other debts (-€156,102) and Current portion of long-term debt (-€142,487)
- Receivables after one year -€100,000
down €100,000 (-100%), from €100,000 to €0
- Receivables within one year +€63,423
up €63,423 (+38.9%), from €162,990 to €226,413
of which Trade receivables: +€78,108
- Tangible fixed assets -€24,783
down €24,783 (-7.7%), from €320,992 to €296,209
of which Plant, machinery and equipment: -€31,645
- Deferred charges and accrued income +€19,625
up €19,625 (+130%), from €15,078 to €34,702
- Other debts -€156,102
down €156,102 (-97.2%), from €160,626 to €4,525
- Current portion of long-term debt -€142,487
down €142,487 (-75.6%), from €188,368 to €45,881
- Reserves +€91,606
up €91,606 (+34.4%), from €266,148 to €357,755
- Trade debts +€65,306
up €65,306 (+390%), from €16,742 to €82,048
- Debts after one year -€29,044
down €29,044 (-19.7%), from €147,241 to €118,197
- Gross operating margin -€167,785
down €167,785 (-42.2%), from €397,131 to €229,346
- Taxes -€51,581
down €51,581 (-59.8%), from €86,255 to €34,675
- Depreciation +€17,008
up €17,008 (+68.0%), from €25,019 to €42,027
- Staff costs +€13,095
new in 2025: €13,095
- Financial income -€5,013
down €5,013 (-59.6%), from €8,417 to €3,405
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 | €805,638 | €633,495 | -€172,143 | -21.4% |
| Fixed assets | 21/28 | €320,992 | €304,480 | -€16,512 | -5.1% |
| Intangible fixed assets | 21 | - | €8,271 | +€8,271 | |
| Tangible fixed assets | 22/27 | €320,992 | €296,209 | -€24,783 | -7.7% |
| Plant, machinery and equipment | 23 | €311,580 | €279,936 | -€31,645 | -10.2% |
| Furniture and vehicles | 24 | €9,411 | €16,273 | +€6,862 | +72.9% |
| Current assets | 29/58 | €484,646 | €329,015 | -€155,631 | -32.1% |
| Amounts receivable after more than one year | 29 | €100,000 | €0 | -€100,000 | -100% |
| Other amounts receivable | 291 | €100,000 | €0 | -€100,000 | -100% |
| Stocks and contracts in progress | 3 | €6,000 | €5,995 | -€5 | -0.1% |
| Stocks | 30/36 | €6,000 | €5,995 | -€5 | -0.1% |
| Amounts receivable within one year | 40/41 | €162,990 | €226,413 | +€63,423 | +38.9% |
| Trade receivables | 40 | €95,210 | €173,318 | +€78,108 | +82.0% |
| Other amounts receivable | 41 | €67,780 | €53,095 | -€14,685 | -21.7% |
| Cash at bank and in hand | 54/58 | €200,578 | €61,905 | -€138,674 | -69.1% |
| Deferred charges and accrued income | 490/1 | €15,078 | €34,702 | +€19,625 | +130% |
| Total equity and liabilities | 10/49 | €805,638 | €633,495 | -€172,143 | -21.4% |
| Equity | 10/15 | €284,748 | €376,355 | +€91,606 | +32.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €266,148 | €357,755 | +€91,606 | +34.4% |
| Distributable reserves | 133 | €266,148 | €357,755 | +€91,606 | +34.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €520,889 | €257,140 | -€263,749 | -50.6% |
| Amounts payable after more than one year | 17 | €147,241 | €118,197 | -€29,044 | -19.7% |
| Financial debts | 170/4 | €147,241 | €118,197 | -€29,044 | -19.7% |
| Amounts payable within one year | 42/48 | €366,498 | €137,168 | -€229,330 | -62.6% |
| Current portion of amounts payable after more than one year | 42 | €188,368 | €45,881 | -€142,487 | -75.6% |
| Trade debts | 44 | €16,742 | €82,048 | +€65,306 | +390% |
| Suppliers | 440/4 | €16,742 | €82,048 | +€65,306 | +390% |
| Taxes, remuneration and social security | 45 | €762 | €4,714 | +€3,953 | +519% |
| Taxes | 450/3 | €762 | €4,339 | +€3,578 | +470% |
| Remuneration and social security | 454/9 | - | €375 | +€375 | |
| Other amounts payable | 47/48 | €160,626 | €4,525 | -€156,102 | -97.2% |
| Accrued charges and deferred income | 492/3 | €7,150 | €1,775 | -€5,375 | -75.2% |
| Remuneration, social security and pensions | 62 | - | €13,095 | +€13,095 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,019 | €42,027 | +€17,008 | +68.0% |
| Other operating charges | 640/8 | €2,384 | €2,616 | +€232 | +9.7% |
| Non-recurring operating charges | 66A | - | €3,900 | +€3,900 | |
| Gross operating margin | 9900 | €397,131 | €229,346 | -€167,785 | -42.2% |
| Operating profit (loss) | 9901 | €369,728 | €167,707 | -€202,020 | -54.6% |
| Financial income | 75/76B | €8,417 | €3,405 | -€5,013 | -59.6% |
| Recurring financial income | 75 | €8,417 | €3,405 | -€5,013 | -59.6% |
| Financial charges | 65/66B | €19,039 | €14,831 | -€4,208 | -22.1% |
| Recurring financial charges | 65 | €19,039 | €14,831 | -€4,208 | -22.1% |
| Profit (loss) for the period before taxes | 9903 | €359,106 | €156,281 | -€202,825 | -56.5% |
| Income taxes | 67/77 | €86,255 | €34,675 | -€51,581 | -59.8% |
| Profit (loss) for the period | 9904 | €272,851 | €121,606 | -€151,244 | -55.4% |
| Profit (loss) for the period to be appropriated | 9905 | €272,851 | €121,606 | -€151,244 | -55.4% |
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 23 October 2026 via checked.be.