LENAERS: what changed
LENAERS
Largest movements
- Stocks and contracts -€1,132
down €1,132 (-10.1%), from €11,211 to €10,080
of which Contracts in progress: -€2,219
- Cash +€480
up €480 (+11.2%), from €4,283 to €4,763
mainly Stocks and contracts (+€1,132) and Other debts (+€649)
- Receivables within one year -€431
down €431 (-55.4%), from €777 to €346
of which Other amounts receivable: -€431
- Profit (loss) carried forward -€2,256
down €2,256 (-3.0%), from -€74,881 to -€77,137
- Other debts +€649
up €649 (+4.8%), from €13,543 to €14,192
- Trade debts +€525
new in 2025: €525
- Other operating charges +€97
up €97 (+18.2%), from €534 to €632
- Gross operating margin +€75
up €75 (+4.7%), from -€1,610 to -€1,535
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,271 | €15,188 | -€1,082 | -6.7% |
| Current assets | 29/58 | €16,271 | €15,188 | -€1,082 | -6.7% |
| Stocks and contracts in progress | 3 | €11,211 | €10,080 | -€1,132 | -10.1% |
| Stocks | 30/36 | €7,918 | €9,005 | +€1,087 | +13.7% |
| Contracts in progress | 37 | €3,293 | €1,074 | -€2,219 | -67.4% |
| Amounts receivable within one year | 40/41 | €777 | €346 | -€431 | -55.4% |
| Trade receivables | 40 | €325 | €325 | = | 0.0% |
| Other amounts receivable | 41 | €452 | €21 | -€431 | -95.2% |
| Cash at bank and in hand | 54/58 | €4,283 | €4,763 | +€480 | +11.2% |
| Total equity and liabilities | 10/49 | €16,271 | €15,188 | -€1,082 | -6.7% |
| Equity | 10/15 | €2,728 | €472 | -€2,256 | -82.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €59,009 | €59,009 | = | 0.0% |
| Distributable reserves | 133 | €59,009 | €59,009 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€74,881 | -€77,137 | -€2,256 | -3.0% |
| Amounts payable | 17/49 | €13,543 | €14,717 | +€1,174 | +8.7% |
| Amounts payable within one year | 42/48 | €13,543 | €14,717 | +€1,174 | +8.7% |
| Trade debts | 44 | - | €525 | +€525 | |
| Suppliers | 440/4 | - | €525 | +€525 | |
| Other amounts payable | 47/48 | €13,543 | €14,192 | +€649 | +4.8% |
| Non-recurring operating income | 76A | €1,157 | €0 | -€1,157 | -100% |
| Other operating charges | 640/8 | €534 | €632 | +€97 | +18.2% |
| Gross operating margin | 9900 | -€1,610 | -€1,535 | +€75 | +4.7% |
| Operating profit (loss) | 9901 | -€2,144 | -€2,166 | -€23 | -1.1% |
| Financial income | 75/76B | €58 | €58 | +€0 | +0.5% |
| Recurring financial income | 75 | €58 | €58 | +€0 | +0.5% |
| Financial charges | 65/66B | €144 | €148 | +€4 | +2.6% |
| Recurring financial charges | 65 | €144 | €148 | +€4 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | -€2,230 | -€2,256 | -€26 | -1.2% |
| Profit (loss) for the period | 9904 | -€2,230 | -€2,256 | -€26 | -1.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,230 | -€2,256 | -€26 | -1.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.