Lennertson: 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.
Lennertson
Largest movements
- Cash +€111,589
up €111,589 (+120.8%), from €92,355 to €203,944
mainly Contributions, distributions and other (+€150,000) and Trade debts (+€9,194)
- Receivables within one year +€10,562
up €10,562 (+100.5%), from €10,513 to €21,075
of which Trade receivables: +€10,824
- Stocks and contracts -€4,683
down €4,683 (-8.6%), from €54,493 to €49,810
- Intangible fixed assets -€3,704
down €3,704 (-24.2%), from €15,312 to €11,608
- Contributions +€150,000
up €150,000 (+74.8%), from €200,500 to €350,500
- Profit (loss) carried forward -€47,190
down €47,190 (-61.0%), from -€77,387 to -€124,576
- Trade debts +€9,194
up €9,194 (+116.3%), from €7,906 to €17,101
- Depreciation +€1,319
up €1,319 (+47.5%), from €2,775 to €4,094
- Financial charges +€999
up €999 (+106.6%), from €937 to €1,936
- Gross operating margin -€892
down €892 (-2.2%), from -€40,120 to -€41,013
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 | €173,359 | €289,280 | +€115,921 | +66.9% |
| Formation expenses | 20 | €69 | - | -€69 | |
| Fixed assets | 21/28 | €15,880 | €14,355 | -€1,525 | -9.6% |
| Intangible fixed assets | 21 | €15,312 | €11,608 | -€3,704 | -24.2% |
| Tangible fixed assets | 22/27 | €568 | €248 | -€320 | -56.4% |
| Plant, machinery and equipment | 23 | €72 | - | -€72 | |
| Furniture and vehicles | 24 | €496 | €248 | -€248 | -50.0% |
| Financial fixed assets | 28 | - | €2,500 | +€2,500 | |
| Current assets | 29/58 | €157,409 | €274,925 | +€117,515 | +74.7% |
| Stocks and contracts in progress | 3 | €54,493 | €49,810 | -€4,683 | -8.6% |
| Stocks | 30/36 | €54,493 | €49,810 | -€4,683 | -8.6% |
| Amounts receivable within one year | 40/41 | €10,513 | €21,075 | +€10,562 | +100.5% |
| Trade receivables | 40 | €10,119 | €20,943 | +€10,824 | +107.0% |
| Other amounts receivable | 41 | €394 | €132 | -€262 | -66.5% |
| Cash at bank and in hand | 54/58 | €92,355 | €203,944 | +€111,589 | +120.8% |
| Deferred charges and accrued income | 490/1 | €49 | €96 | +€47 | +95.8% |
| Total equity and liabilities | 10/49 | €173,359 | €289,280 | +€115,921 | +66.9% |
| Equity | 10/15 | €123,113 | €225,924 | +€102,810 | +83.5% |
| Contributions | 10/11 | €200,500 | €350,500 | +€150,000 | +74.8% |
| Profit (loss) carried forward | 14 | -€77,387 | -€124,576 | -€47,190 | -61.0% |
| Amounts payable | 17/49 | €50,245 | €63,356 | +€13,111 | +26.1% |
| Amounts payable within one year | 42/48 | €50,245 | €63,356 | +€13,111 | +26.1% |
| Trade debts | 44 | €7,906 | €17,101 | +€9,194 | +116.3% |
| Suppliers | 440/4 | €7,906 | €17,101 | +€9,194 | +116.3% |
| Taxes, remuneration and social security | 45 | €5,479 | €7,440 | +€1,961 | +35.8% |
| Taxes | 450/3 | €5,479 | €7,440 | +€1,961 | +35.8% |
| Other amounts payable | 47/48 | €36,860 | €38,816 | +€1,955 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,775 | €4,094 | +€1,319 | +47.5% |
| Other operating charges | 640/8 | €449 | €587 | +€137 | +30.6% |
| Gross operating margin | 9900 | -€40,120 | -€41,013 | -€892 | -2.2% |
| Operating profit (loss) | 9901 | -€43,345 | -€45,693 | -€2,349 | -5.4% |
| Financial income | 75/76B | €550 | €440 | -€110 | -20.1% |
| Recurring financial income | 75 | €550 | €440 | -€110 | -20.1% |
| Financial charges | 65/66B | €937 | €1,936 | +€999 | +106.6% |
| Recurring financial charges | 65 | €937 | €1,936 | +€999 | +106.6% |
| Profit (loss) for the period before taxes | 9903 | -€43,732 | -€47,190 | -€3,458 | -7.9% |
| Profit (loss) for the period | 9904 | -€43,732 | -€47,190 | -€3,458 | -7.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€43,732 | -€47,190 | -€3,458 | -7.9% |
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 7 October 2026 via checked.be.