LENDFERS: 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.
LENDFERS
Largest movements
- Receivables within one year -€82,711
down €82,711 (-86.9%), from €95,161 to €12,450
of which Trade receivables: -€80,050
- Tangible fixed assets +€29,372
up €29,372 (+10.7%), from €274,074 to €303,446
of which Furniture and vehicles: +€43,733
- Stocks and contracts +€9,850
up €9,850 (+4.1%), from €239,724 to €249,574
- Advances received -€70,000
down €70,000 (-100.0%), from €70,000 to €0
- Other debts -€21,067
down €21,067 (-98.6%), from €21,360 to €293
- Trade debts +€20,409
up €20,409 (+100.0%), from €20,417 to €40,826
- Reserves +€17,111
up €17,111 (+920.0%), from €1,860 to €18,971
of which Distributable reserves: +€17,111
- Debts after one year +€13,701
up €13,701 (+3.3%), from €415,038 to €428,739
of which Financial debts: +€13,701
- Gross operating margin +€17,576
up €17,576 (+12.8%), from €136,822 to €154,398
- Depreciation -€4,392
down €4,392 (-18.2%), from €24,194 to €19,802
- Staff costs +€2,259
up €2,259 (+2.4%), from €94,826 to €97,085
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 | €630,179 | €586,171 | -€44,008 | -7.0% |
| Fixed assets | 21/28 | €284,435 | €313,417 | +€28,982 | +10.2% |
| Intangible fixed assets | 21 | €1,561 | €1,171 | -€390 | -25.0% |
| Tangible fixed assets | 22/27 | €274,074 | €303,446 | +€29,372 | +10.7% |
| Land and buildings | 22 | €265,279 | €251,322 | -€13,957 | -5.3% |
| Plant, machinery and equipment | 23 | €676 | €272 | -€404 | -59.8% |
| Furniture and vehicles | 24 | €8,120 | €51,853 | +€43,733 | +538.6% |
| Financial fixed assets | 28 | €8,800 | €8,800 | = | 0.0% |
| Current assets | 29/58 | €345,744 | €272,754 | -€72,991 | -21.1% |
| Stocks and contracts in progress | 3 | €239,724 | €249,574 | +€9,850 | +4.1% |
| Stocks | 30/36 | €239,724 | €249,574 | +€9,850 | +4.1% |
| Amounts receivable within one year | 40/41 | €95,161 | €12,450 | -€82,711 | -86.9% |
| Trade receivables | 40 | €90,874 | €10,824 | -€80,050 | -88.1% |
| Other amounts receivable | 41 | €4,287 | €1,626 | -€2,661 | -62.1% |
| Cash at bank and in hand | 54/58 | €9,890 | €6,034 | -€3,856 | -39.0% |
| Deferred charges and accrued income | 490/1 | €970 | €4,696 | +€3,726 | +384.1% |
| Total equity and liabilities | 10/49 | €630,179 | €586,171 | -€44,008 | -7.0% |
| Equity | 10/15 | €3,570 | €25,171 | +€21,601 | +605.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €18,971 | +€17,111 | +920.0% |
| 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 | - | €17,111 | +€17,111 | |
| Profit (loss) carried forward | 14 | -€4,490 | €0 | +€4,490 | |
| Amounts payable | 17/49 | €626,609 | €561,000 | -€65,609 | -10.5% |
| Amounts payable after more than one year | 17 | €415,038 | €428,739 | +€13,701 | +3.3% |
| Financial debts | 170/4 | €220,038 | €233,739 | +€13,701 | +6.2% |
| Other amounts payable | 178/9 | €195,000 | €195,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €211,570 | €132,261 | -€79,310 | -37.5% |
| Current portion of amounts payable after more than one year | 42 | €29,628 | €33,378 | +€3,750 | +12.7% |
| Financial debts | 43 | €27,257 | €25,703 | -€1,554 | -5.7% |
| Credit institutions | 430/8 | €27,257 | €25,703 | -€1,554 | -5.7% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €20,417 | €40,826 | +€20,409 | +100.0% |
| Suppliers | 440/4 | €20,417 | €40,826 | +€20,409 | +100.0% |
| Advances received on contracts in progress | 46 | €70,000 | €0 | -€70,000 | -100.0% |
| Taxes, remuneration and social security | 45 | €42,909 | €32,061 | -€10,848 | -25.3% |
| Taxes | 450/3 | €30,684 | €19,415 | -€11,269 | -36.7% |
| Remuneration and social security | 454/9 | €12,225 | €12,646 | +€421 | +3.4% |
| Other amounts payable | 47/48 | €21,360 | €293 | -€21,067 | -98.6% |
| Non-recurring operating income | 76A | - | €19,435 | +€19,435 | |
| Remuneration, social security and pensions | 62 | €94,826 | €97,085 | +€2,259 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,194 | €19,802 | -€4,392 | -18.2% |
| Other operating charges | 640/8 | €5,311 | €5,448 | +€136 | +2.6% |
| Gross operating margin | 9900 | €136,822 | €154,398 | +€17,576 | +12.8% |
| Operating profit (loss) | 9901 | €12,491 | €32,063 | +€19,572 | +156.7% |
| Financial income | 75/76B | €0 | €7 | +€7 | +71400.0% |
| Recurring financial income | 75 | €0 | €7 | +€7 | +71400.0% |
| Financial charges | 65/66B | €9,697 | €10,469 | +€772 | +8.0% |
| Recurring financial charges | 65 | €9,697 | €10,469 | +€772 | +8.0% |
| Profit (loss) for the period before taxes | 9903 | €2,794 | €21,601 | +€18,807 | +673.1% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €2,794 | €21,601 | +€18,807 | +673.1% |
| Profit (loss) for the period to be appropriated | 9905 | €2,794 | €21,601 | +€18,807 | +673.1% |
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 9 October 2026 via checked.be.