LEMONADE: 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.
LEMONADE
Largest movements
- Cash +€406,237
up €406,237 (+2,090%), from €19,434 to €425,671
mainly Net result for the year (+€414,825) and Investment in fixed assets (net) (+€58,718)
- Financial fixed assets -€65,000
down €65,000 (-100%), from €65,000 to €0
- Current investments -€35,820
down €35,820 (-3.5%), from €1.0m to €997,360
- Receivables within one year -€27,231
down €27,231 (-9.2%), from €295,044 to €267,812
of which Other amounts receivable: -€31,434
- Reserves +€214,183
up €214,183 (+14.5%), from €1.5m to €1.7m
of which Distributable reserves: +€214,183
- Tax, wage and social debts +€31,440
up €31,440 (+7,284%), from €432 to €31,871
of which Taxes: +€31,440
- Profit (loss) carried forward +€28,163
up €28,163, from -€28,163 to €0
- Financial income +€439,088
up €439,088 (+3,978%), from €11,037 to €450,125
- Taxes +€40,027
up €40,027 (+6,722%), from €595 to €40,623
- Gross operating margin +€25,590
up €25,590 (+150%), from €17,105 to €42,695
- Staff costs -€20,995
down €20,995 (-92.8%), from €22,628 to €1,633
- Financial charges +€8,417
up €8,417 (+3,389%), from €248 to €8,665
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 | €1,590,563 | €1,852,136 | +€261,572 | +16.4% |
| Fixed assets | 21/28 | €235,234 | €154,041 | -€81,192 | -34.5% |
| Tangible fixed assets | 22/27 | €170,234 | €154,041 | -€16,192 | -9.5% |
| Land and buildings | 22 | €148,585 | €137,162 | -€11,423 | -7.7% |
| Plant, machinery and equipment | 23 | €6,379 | €8,412 | +€2,033 | +31.9% |
| Furniture and vehicles | 24 | €15,115 | €8,467 | -€6,648 | -44.0% |
| Other tangible fixed assets | 26 | €154 | €0 | -€154 | -100% |
| Financial fixed assets | 28 | €65,000 | €0 | -€65,000 | -100% |
| Current assets | 29/58 | €1,355,330 | €1,698,094 | +€342,765 | +25.3% |
| Amounts receivable within one year | 40/41 | €295,044 | €267,812 | -€27,231 | -9.2% |
| Trade receivables | 40 | €8,456 | €12,659 | +€4,203 | +49.7% |
| Other amounts receivable | 41 | €286,588 | €255,153 | -€31,434 | -11.0% |
| Current investments | 50/53 | €1,033,180 | €997,360 | -€35,820 | -3.5% |
| Cash at bank and in hand | 54/58 | €19,434 | €425,671 | +€406,237 | +2,090% |
| Deferred charges and accrued income | 490/1 | €7,672 | €7,250 | -€421 | -5.5% |
| Total equity and liabilities | 10/49 | €1,590,563 | €1,852,136 | +€261,572 | +16.4% |
| Equity | 10/15 | €1,453,469 | €1,695,815 | +€242,346 | +16.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,475,432 | €1,689,615 | +€214,183 | +14.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,473,572 | €1,687,755 | +€214,183 | +14.5% |
| Profit (loss) carried forward | 14 | -€28,163 | €0 | +€28,163 | |
| Amounts payable | 17/49 | €137,095 | €156,321 | +€19,226 | +14.0% |
| Amounts payable after more than one year | 17 | €113,950 | €101,794 | -€12,156 | -10.7% |
| Financial debts | 170/4 | €113,950 | €101,794 | -€12,156 | -10.7% |
| Amounts payable within one year | 42/48 | €22,942 | €52,609 | +€29,667 | +129% |
| Current portion of amounts payable after more than one year | 42 | €11,975 | €12,156 | +€181 | +1.5% |
| Financial debts | 43 | - | €103 | +€103 | |
| Credit institutions | 430/8 | - | €103 | +€103 | |
| Trade debts | 44 | €10,535 | €8,479 | -€2,057 | -19.5% |
| Suppliers | 440/4 | €10,535 | €8,479 | -€2,057 | -19.5% |
| Taxes, remuneration and social security | 45 | €432 | €31,871 | +€31,440 | +7,284% |
| Taxes | 450/3 | €432 | €31,871 | +€31,440 | +7,284% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €203 | €1,918 | +€1,715 | +844% |
| Non-recurring operating income | 76A | €1,500 | €0 | -€1,500 | -100% |
| Remuneration, social security and pensions | 62 | €22,628 | €1,633 | -€20,995 | -92.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,430 | €22,475 | -€5,955 | -20.9% |
| Other operating charges | 640/8 | €4,405 | €4,600 | +€195 | +4.4% |
| Gross operating margin | 9900 | €17,105 | €42,695 | +€25,590 | +150% |
| Operating profit (loss) | 9901 | -€38,357 | €13,988 | +€52,344 | |
| Financial income | 75/76B | €11,037 | €450,125 | +€439,088 | +3,978% |
| Recurring financial income | 75 | €11,037 | €450,125 | +€439,088 | +3,978% |
| Financial charges | 65/66B | €248 | €8,665 | +€8,417 | +3,389% |
| Recurring financial charges | 65 | €248 | €8,665 | +€8,417 | +3,389% |
| Profit (loss) for the period before taxes | 9903 | -€27,568 | €455,448 | +€483,015 | |
| Income taxes | 67/77 | €595 | €40,623 | +€40,027 | +6,722% |
| Profit (loss) for the period | 9904 | -€28,163 | €414,825 | +€442,988 | |
| Profit (loss) for the period to be appropriated | 9905 | -€28,163 | €414,825 | +€442,988 |
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 15 October 2026 via checked.be.