LEMMENS: 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.
LEMMENS
Largest movements
- Tangible fixed assets +€377,292
up €377,292 (+65.4%), from €577,295 to €954,587
of which Land and buildings: +€200,875
- Cash -€139,897
down €139,897 (-15.6%), from €897,702 to €757,805
mainly Investment in fixed assets (net) (-€462,590) and Stocks and contracts (-€55,345)
- Stocks and contracts +€55,345
up €55,345 (+39.6%), from €139,860 to €195,205
- Profit (loss) carried forward +€168,659
up €168,659 (+15,126%), from €1,115 to €169,774
- Debts after one year +€143,701
up €143,701 (+321%), from €44,815 to €188,516
- Current portion of long-term debt +€35,288
up €35,288 (+107%), from €33,054 to €68,342
- Gross operating margin +€51,051
up €51,051 (+7.9%), from €642,442 to €693,493
- Depreciation +€18,122
up €18,122 (+27.0%), from €67,176 to €85,298
- Taxes -€16,371
down €16,371 (-24.3%), from €67,418 to €51,047
- Financial income -€13,613
down €13,613 (-33.8%), from €40,245 to €26,632
- Staff costs -€9,814
down €9,814 (-2.3%), from €428,442 to €418,628
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 | €2,903,867 | €3,178,768 | +€274,901 | +9.5% |
| Fixed assets | 21/28 | €577,430 | €954,722 | +€377,292 | +65.3% |
| Tangible fixed assets | 22/27 | €577,295 | €954,587 | +€377,292 | +65.4% |
| Land and buildings | 22 | €497,468 | €698,343 | +€200,875 | +40.4% |
| Furniture and vehicles | 24 | €4,657 | €3,414 | -€1,243 | -26.7% |
| Leasing and similar rights | 25 | €75,170 | €252,830 | +€177,660 | +236% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €2,326,437 | €2,224,046 | -€102,391 | -4.4% |
| Stocks and contracts in progress | 3 | €139,860 | €195,205 | +€55,345 | +39.6% |
| Contracts in progress | 37 | €139,860 | €195,205 | +€55,345 | +39.6% |
| Amounts receivable within one year | 40/41 | €237,343 | €211,257 | -€26,086 | -11.0% |
| Trade receivables | 40 | €126,369 | €142,136 | +€15,767 | +12.5% |
| Other amounts receivable | 41 | €110,974 | €69,121 | -€41,853 | -37.7% |
| Current investments | 50/53 | €1,040,935 | €1,050,383 | +€9,448 | +0.9% |
| Cash at bank and in hand | 54/58 | €897,702 | €757,805 | -€139,897 | -15.6% |
| Deferred charges and accrued income | 490/1 | €10,597 | €9,396 | -€1,201 | -11.3% |
| Total equity and liabilities | 10/49 | €2,903,867 | €3,178,768 | +€274,901 | +9.5% |
| Equity | 10/15 | €1,942,476 | €2,092,672 | +€150,196 | +7.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,922,769 | €1,904,306 | -€18,463 | -1.0% |
| Tax-exempt reserves | 132 | €232,216 | €212,638 | -€19,578 | -8.4% |
| Distributable reserves | 133 | €1,690,553 | €1,691,668 | +€1,115 | +0.1% |
| Profit (loss) carried forward | 14 | €1,115 | €169,774 | +€168,659 | +15,126% |
| Provisions and deferred taxes | 16 | €64,905 | €58,379 | -€6,526 | -10.1% |
| Deferred taxes | 168 | €64,905 | €58,379 | -€6,526 | -10.1% |
| Amounts payable | 17/49 | €896,486 | €1,027,717 | +€131,231 | +14.6% |
| Amounts payable after more than one year | 17 | €44,815 | €188,516 | +€143,701 | +321% |
| Financial debts | 170/4 | €44,815 | €188,516 | +€143,701 | +321% |
| Amounts payable within one year | 42/48 | €850,845 | €839,201 | -€11,644 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €33,054 | €68,342 | +€35,288 | +107% |
| Trade debts | 44 | €411,743 | €399,542 | -€12,201 | -3.0% |
| Suppliers | 440/4 | €411,743 | €399,542 | -€12,201 | -3.0% |
| Taxes, remuneration and social security | 45 | €63,764 | €33,578 | -€30,186 | -47.3% |
| Taxes | 450/3 | €31,095 | €14,553 | -€16,542 | -53.2% |
| Remuneration and social security | 454/9 | €32,669 | €19,025 | -€13,644 | -41.8% |
| Other amounts payable | 47/48 | €342,284 | €337,739 | -€4,545 | -1.3% |
| Accrued charges and deferred income | 492/3 | €826 | - | -€826 | |
| Remuneration, social security and pensions | 62 | €428,442 | €418,628 | -€9,814 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,176 | €85,298 | +€18,122 | +27.0% |
| Other operating charges | 640/8 | €5,244 | €5,454 | +€210 | +4.0% |
| Gross operating margin | 9900 | €642,442 | €693,493 | +€51,051 | +7.9% |
| Operating profit (loss) | 9901 | €141,580 | €184,113 | +€42,533 | +30.0% |
| Financial income | 75/76B | €40,245 | €26,632 | -€13,613 | -33.8% |
| Recurring financial income | 75 | €40,245 | €26,632 | -€13,613 | -33.8% |
| Financial charges | 65/66B | €6,594 | €16,029 | +€9,435 | +143% |
| Recurring financial charges | 65 | €6,594 | €16,029 | +€9,435 | +143% |
| Profit (loss) for the period before taxes | 9903 | €175,231 | €194,716 | +€19,485 | +11.1% |
| Transfer from deferred taxes | 780 | €12,075 | €6,526 | -€5,549 | -46.0% |
| Income taxes | 67/77 | €67,418 | €51,047 | -€16,371 | -24.3% |
| Profit (loss) for the period | 9904 | €119,888 | €150,195 | +€30,307 | +25.3% |
| Transfer from tax-exempt reserves | 789 | €36,227 | €19,579 | -€16,648 | -46.0% |
| Profit (loss) for the period to be appropriated | 9905 | €156,115 | €169,774 | +€13,659 | +8.7% |
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 25 October 2026 via checked.be.