LENDER INDUSTRIES: 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.
LENDER INDUSTRIES
Largest movements
- Financial fixed assets -€100,400
no longer reported in 2025 (was €100,400)
- Tangible fixed assets -€90,077
down €90,077 (-3.6%), from €2.5m to €2.4m
of which Land and buildings: -€53,359
- Cash -€83,900
down €83,900 (-41.3%), from €203,087 to €119,187
mainly Other debts (-€388,912) and Debts after one year (-€118,177)
- Receivables within one year -€31,255
down €31,255 (-29.4%), from €106,221 to €74,966
of which Other amounts receivable: -€25,216
- Other debts -€388,912
down €388,912 (-82.5%), from €471,611 to €82,699
- Contributions +€250,000
up €250,000 (+152%), from €164,503 to €414,503
- Debts after one year -€118,177
down €118,177 (-11.6%), from €1.0m to €900,057
- Trade debts -€64,403
down €64,403 (-40.1%), from €160,560 to €96,157
- Other operating charges -€25,563
down €25,563 (-56.1%), from €45,546 to €19,983
- Gross operating margin -€23,382
down €23,382 (-11.7%), from €200,271 to €176,889
- Financial charges -€13,727
down €13,727 (-51.4%), from €26,706 to €12,979
- Taxes +€7,698
up €7,698 (+193%), from €3,983 to €11,681
- Depreciation +€4,625
up €4,625 (+3.8%), from €121,098 to €125,723
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 | €2,926,410 | €2,620,871 | -€305,539 | -10.4% |
| Fixed assets | 21/28 | €2,615,197 | €2,424,720 | -€190,477 | -7.3% |
| Tangible fixed assets | 22/27 | €2,514,797 | €2,424,720 | -€90,077 | -3.6% |
| Land and buildings | 22 | €2,360,645 | €2,307,286 | -€53,359 | -2.3% |
| Plant, machinery and equipment | 23 | €53,598 | €42,598 | -€11,000 | -20.5% |
| Furniture and vehicles | 24 | €100,554 | €74,836 | -€25,718 | -25.6% |
| Financial fixed assets | 28 | €100,400 | - | -€100,400 | |
| Current assets | 29/58 | €311,213 | €196,151 | -€115,062 | -37.0% |
| Amounts receivable within one year | 40/41 | €106,221 | €74,966 | -€31,255 | -29.4% |
| Trade receivables | 40 | €81,005 | €74,966 | -€6,039 | -7.5% |
| Other amounts receivable | 41 | €25,216 | - | -€25,216 | |
| Cash at bank and in hand | 54/58 | €203,087 | €119,187 | -€83,900 | -41.3% |
| Deferred charges and accrued income | 490/1 | €1,905 | €1,998 | +€93 | +4.9% |
| Total equity and liabilities | 10/49 | €2,926,410 | €2,620,871 | -€305,539 | -10.4% |
| Equity | 10/15 | €1,159,358 | €1,416,471 | +€257,113 | +22.2% |
| Contributions | 10/11 | €164,503 | €414,503 | +€250,000 | +152% |
| Reserves | 13 | €994,855 | €1,001,968 | +€7,113 | +0.7% |
| Distributable reserves | 133 | €994,855 | €1,001,968 | +€7,113 | +0.7% |
| Amounts payable | 17/49 | €1,767,052 | €1,204,400 | -€562,652 | -31.8% |
| Amounts payable after more than one year | 17 | €1,018,235 | €900,057 | -€118,177 | -11.6% |
| Financial debts | 170/4 | €1,018,235 | €900,057 | -€118,177 | -11.6% |
| Amounts payable within one year | 42/48 | €748,818 | €304,343 | -€444,475 | -59.4% |
| Current portion of amounts payable after more than one year | 42 | €116,647 | €118,177 | +€1,530 | +1.3% |
| Trade debts | 44 | €160,560 | €96,157 | -€64,403 | -40.1% |
| Suppliers | 440/4 | €160,560 | €96,157 | -€64,403 | -40.1% |
| Taxes, remuneration and social security | 45 | - | €7,311 | +€7,311 | |
| Taxes | 450/3 | - | €7,311 | +€7,311 | |
| Other amounts payable | 47/48 | €471,611 | €82,699 | -€388,912 | -82.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €121,098 | €125,723 | +€4,625 | +3.8% |
| Other operating charges | 640/8 | €45,546 | €19,983 | -€25,563 | -56.1% |
| Gross operating margin | 9900 | €200,271 | €176,889 | -€23,382 | -11.7% |
| Operating profit (loss) | 9901 | €33,627 | €31,183 | -€2,443 | -7.3% |
| Financial income | 75/76B | €614 | €589 | -€25 | -4.0% |
| Recurring financial income | 75 | €614 | €589 | -€25 | -4.0% |
| Financial charges | 65/66B | €26,706 | €12,979 | -€13,727 | -51.4% |
| Recurring financial charges | 65 | €26,706 | €12,979 | -€13,727 | -51.4% |
| Profit (loss) for the period before taxes | 9903 | €7,535 | €18,794 | +€11,259 | +149% |
| Income taxes | 67/77 | €3,983 | €11,681 | +€7,698 | +193% |
| Profit (loss) for the period | 9904 | €3,552 | €7,113 | +€3,561 | +100% |
| Profit (loss) for the period to be appropriated | 9905 | €3,552 | €7,113 | +€3,561 | +100% |
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 21 October 2026 via checked.be.