LENN CARPENTIER: 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.
LENN CARPENTIER
Largest movements
- Current investments -€65,000
down €65,000 (-81.3%), from €80,000 to €15,000
- Cash +€51,041
up €51,041 (+215%), from €23,729 to €74,770
mainly Net result for the year (+€95,657) and Current investments (+€65,000)
- Receivables within one year +€19,241
up €19,241 (+53.8%), from €35,760 to €55,001
of which Trade receivables: +€20,465
- Tangible fixed assets -€7,357
down €7,357 (-66.9%), from €10,992 to €3,635
- Deferred charges and accrued income +€5,246
up €5,246 (+185%), from €2,842 to €8,088
- Other debts +€10,515
up €10,515 (+14.5%), from €72,461 to €82,975
- Debts after one year -€4,025
down €4,025 (-8.1%), from €49,833 to €45,807
- Tax, wage and social debts -€2,363
down €2,363 (-10.3%), from €22,970 to €20,607
of which Taxes: -€4,592
- Gross operating margin +€20,759
up €20,759 (+13.4%), from €155,445 to €176,204
- Taxes +€4,223
up €4,223 (+17.9%), from €23,533 to €27,756
- Financial income -€2,482
down €2,482 (-71.0%), from €3,493 to €1,011
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 | €153,323 | €156,494 | +€3,171 | +2.1% |
| Fixed assets | 21/28 | €10,992 | €3,635 | -€7,357 | -66.9% |
| Tangible fixed assets | 22/27 | €10,992 | €3,635 | -€7,357 | -66.9% |
| Furniture and vehicles | 24 | €10,992 | €3,635 | -€7,357 | -66.9% |
| Current assets | 29/58 | €142,331 | €152,859 | +€10,528 | +7.4% |
| Amounts receivable within one year | 40/41 | €35,760 | €55,001 | +€19,241 | +53.8% |
| Trade receivables | 40 | €33,566 | €54,031 | +€20,465 | +61.0% |
| Other amounts receivable | 41 | €2,194 | €970 | -€1,224 | -55.8% |
| Current investments | 50/53 | €80,000 | €15,000 | -€65,000 | -81.3% |
| Cash at bank and in hand | 54/58 | €23,729 | €74,770 | +€51,041 | +215% |
| Deferred charges and accrued income | 490/1 | €2,842 | €8,088 | +€5,246 | +185% |
| Total equity and liabilities | 10/49 | €153,323 | €156,494 | +€3,171 | +2.1% |
| Equity | 10/15 | €3,000 | €3,000 | = | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €150,323 | €153,494 | +€3,171 | +2.1% |
| Amounts payable after more than one year | 17 | €49,833 | €45,807 | -€4,025 | -8.1% |
| Financial debts | 170/4 | €49,833 | €45,807 | -€4,025 | -8.1% |
| Amounts payable within one year | 42/48 | €100,491 | €107,687 | +€7,196 | +7.2% |
| Current portion of amounts payable after more than one year | 42 | €3,985 | €3,958 | -€27 | -0.7% |
| Trade debts | 44 | €1,075 | €146 | -€929 | -86.4% |
| Suppliers | 440/4 | €1,075 | €146 | -€929 | -86.4% |
| Taxes, remuneration and social security | 45 | €22,970 | €20,607 | -€2,363 | -10.3% |
| Taxes | 450/3 | €4,592 | €0 | -€4,592 | -100% |
| Remuneration and social security | 454/9 | €18,378 | €20,607 | +€2,229 | +12.1% |
| Other amounts payable | 47/48 | €72,461 | €82,975 | +€10,515 | +14.5% |
| Remuneration, social security and pensions | 62 | €41,602 | €43,178 | +€1,577 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,234 | €8,469 | +€236 | +2.9% |
| Other operating charges | 640/8 | €569 | €585 | +€16 | +2.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €155,445 | €176,204 | +€20,759 | +13.4% |
| Operating profit (loss) | 9901 | €105,041 | €123,971 | +€18,931 | +18.0% |
| Financial income | 75/76B | €3,493 | €1,011 | -€2,482 | -71.0% |
| Recurring financial income | 75 | €3,493 | €1,011 | -€2,482 | -71.0% |
| Financial charges | 65/66B | €1,610 | €1,570 | -€40 | -2.5% |
| Recurring financial charges | 65 | €1,610 | €1,570 | -€40 | -2.5% |
| Profit (loss) for the period before taxes | 9903 | €106,925 | €123,413 | +€16,488 | +15.4% |
| Income taxes | 67/77 | €23,533 | €27,756 | +€4,223 | +17.9% |
| Profit (loss) for the period | 9904 | €83,391 | €95,657 | +€12,265 | +14.7% |
| Profit (loss) for the period to be appropriated | 9905 | €83,391 | €95,657 | +€12,265 | +14.7% |
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 19 October 2026 via checked.be.