Lenalex: what changed
Two fiscal 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.
Lenalex
Largest movements
- Cash -€57,740
down €57,740 (-92.8%), from €62,227 to €4,487
mainly Other debts (-€95,163) and Debts after one year (-€12,310)
- Tangible fixed assets -€8,384
down €8,384 (-25.6%), from €32,688 to €24,304
of which Plant, machinery and equipment: -€4,639
- Deferred charges and accrued income -€1,287
no longer reported in 2025 (was €1,287)
- Other debts -€95,163
down €95,163 (-56.4%), from €168,846 to €73,683
- Profit (loss) carried forward +€28,856
up €28,856 (+19.2%), from -€150,565 to -€121,709
- Debts after one year -€12,310
down €12,310 (-82.6%), from €14,897 to €2,587
- Current portion of long-term debt +€8,260
up €8,260 (+65.0%), from €12,711 to €20,971
- Tax, wage and social debts +€1,477
up €1,477 (+13.0%), from €11,354 to €12,831
of which Taxes: +€1,620
- Depreciation -€12,712
down €12,712 (-60.3%), from €21,096 to €8,384
- Staff costs +€4,607
up €4,607 (+130.9%), from €3,519 to €8,126
- Gross operating margin +€1,982
up €1,982 (+4.2%), from €47,728 to €49,710
- Other operating charges -€886
down €886 (-18.4%), from €4,807 to €3,921
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 | €96,316 | €28,881 | -€67,436 | -70.0% |
| Fixed assets | 21/28 | €32,777 | €24,393 | -€8,384 | -25.6% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €32,688 | €24,304 | -€8,384 | -25.6% |
| Plant, machinery and equipment | 23 | €23,463 | €18,825 | -€4,639 | -19.8% |
| Furniture and vehicles | 24 | €9,225 | €5,479 | -€3,745 | -40.6% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €63,539 | €4,487 | -€59,052 | -92.9% |
| Amounts receivable within one year | 40/41 | €24 | - | -€24 | |
| Trade receivables | 40 | €24 | - | -€24 | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €62,227 | €4,487 | -€57,740 | -92.8% |
| Deferred charges and accrued income | 490/1 | €1,287 | - | -€1,287 | |
| Total equity and liabilities | 10/49 | €96,316 | €28,881 | -€67,436 | -70.0% |
| Equity | 10/15 | -€128,565 | -€99,709 | +€28,856 | +22.4% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Capital | 10 | €22,000 | €22,000 | = | 0.0% |
| Issued capital | 100 | €22,500 | €22,500 | = | 0.0% |
| Uncalled capital | 101 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€150,565 | -€121,709 | +€28,856 | +19.2% |
| Amounts payable | 17/49 | €224,881 | €128,590 | -€96,291 | -42.8% |
| Amounts payable after more than one year | 17 | €14,897 | €2,587 | -€12,310 | -82.6% |
| Financial debts | 170/4 | €14,897 | €2,587 | -€12,310 | -82.6% |
| Amounts payable within one year | 42/48 | €209,984 | €126,003 | -€83,982 | -40.0% |
| Current portion of amounts payable after more than one year | 42 | €12,711 | €20,971 | +€8,260 | +65.0% |
| Trade debts | 44 | €17,073 | €18,518 | +€1,445 | +8.5% |
| Suppliers | 440/4 | €17,073 | €18,518 | +€1,445 | +8.5% |
| Taxes, remuneration and social security | 45 | €11,354 | €12,831 | +€1,477 | +13.0% |
| Taxes | 450/3 | €11,211 | €12,831 | +€1,620 | +14.4% |
| Remuneration and social security | 454/9 | €142 | - | -€142 | |
| Other amounts payable | 47/48 | €168,846 | €73,683 | -€95,163 | -56.4% |
| Remuneration, social security and pensions | 62 | €3,519 | €8,126 | +€4,607 | +130.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,096 | €8,384 | -€12,712 | -60.3% |
| Other operating charges | 640/8 | €4,807 | €3,921 | -€886 | -18.4% |
| Gross operating margin | 9900 | €47,728 | €49,710 | +€1,982 | +4.2% |
| Operating profit (loss) | 9901 | €18,306 | €29,279 | +€10,973 | +59.9% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | -€173 | €241 | +€414 | |
| Recurring financial charges | 65 | -€173 | €241 | +€414 | |
| Profit (loss) for the period before taxes | 9903 | €18,479 | €29,039 | +€10,560 | +57.1% |
| Income taxes | 67/77 | €264 | €183 | -€81 | -30.8% |
| Profit (loss) for the period | 9904 | €18,214 | €28,856 | +€10,641 | +58.4% |
| Profit (loss) for the period to be appropriated | 9905 | €18,214 | €28,856 | +€10,641 | +58.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.