LENNERTZ: 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.
LENNERTZ
Largest movements
- Cash +€28,917
up €28,917 (+138%), from €21,027 to €49,944
mainly Net result for the year (+€26,085) and Depreciation (+€17,939)
- Receivables within one year -€3,026
down €3,026 (-97.8%), from €3,095 to €69
- Reserves +€17,300
new in 2025: €17,300
- Profit (loss) carried forward +€8,785
up €8,785, from -€8,262 to €523
- Debts after one year +€7,922
up €7,922 (+12.4%), from €63,730 to €71,652
- Current portion of long-term debt -€7,588
down €7,588 (-45.2%), from €16,778 to €9,190
- Tax, wage and social debts +€4,084
up €4,084 (+255%), from €1,604 to €5,688
of which Taxes: +€2,878
- Gross operating margin +€18,073
up €18,073 (+37.5%), from €48,153 to €66,226
- Depreciation -€6,634
down €6,634 (-27.0%), from €24,574 to €17,939
- Staff costs +€4,766
up €4,766 (+75.4%), from €6,321 to €11,086
- Other operating charges +€2,652
up €2,652 (+58.3%), from €4,546 to €7,198
- Taxes +€1,912
up €1,912 (+80,686%), from €2 to €1,915
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 | €116,466 | €142,211 | +€25,744 | +22.1% |
| Fixed assets | 21/28 | €81,753 | €80,925 | -€828 | -1.0% |
| Tangible fixed assets | 22/27 | €81,753 | €80,925 | -€828 | -1.0% |
| Land and buildings | 22 | €64,261 | €55,147 | -€9,114 | -14.2% |
| Plant, machinery and equipment | 23 | €4,085 | €16,881 | +€12,796 | +313% |
| Furniture and vehicles | 24 | €13,121 | €8,874 | -€4,247 | -32.4% |
| Other tangible fixed assets | 26 | €286 | €23 | -€263 | -92.0% |
| Current assets | 29/58 | €34,714 | €61,286 | +€26,572 | +76.5% |
| Stocks and contracts in progress | 3 | €4,065 | €3,409 | -€656 | -16.1% |
| Stocks | 30/36 | €4,065 | €3,409 | -€656 | -16.1% |
| Amounts receivable within one year | 40/41 | €3,095 | €69 | -€3,026 | -97.8% |
| Trade receivables | 40 | €3,095 | €69 | -€3,026 | -97.8% |
| Current investments | 50/53 | €4,485 | €4,493 | +€9 | +0.2% |
| Cash at bank and in hand | 54/58 | €21,027 | €49,944 | +€28,917 | +138% |
| Deferred charges and accrued income | 490/1 | €2,042 | €3,371 | +€1,329 | +65.1% |
| Total equity and liabilities | 10/49 | €116,466 | €142,211 | +€25,744 | +22.1% |
| Equity | 10/15 | €16,527 | €42,612 | +€26,085 | +158% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | - | €17,300 | +€17,300 | |
| Distributable reserves | 133 | - | €17,300 | +€17,300 | |
| Profit (loss) carried forward | 14 | -€8,262 | €523 | +€8,785 | |
| Amounts payable | 17/49 | €99,939 | €99,598 | -€341 | -0.3% |
| Amounts payable after more than one year | 17 | €63,730 | €71,652 | +€7,922 | +12.4% |
| Financial debts | 170/4 | €63,730 | €71,652 | +€7,922 | +12.4% |
| Amounts payable within one year | 42/48 | €35,574 | €26,989 | -€8,585 | -24.1% |
| Current portion of amounts payable after more than one year | 42 | €16,778 | €9,190 | -€7,588 | -45.2% |
| Trade debts | 44 | €6,120 | €4,038 | -€2,082 | -34.0% |
| Suppliers | 440/4 | €6,120 | €4,038 | -€2,082 | -34.0% |
| Taxes, remuneration and social security | 45 | €1,604 | €5,688 | +€4,084 | +255% |
| Taxes | 450/3 | €381 | €3,259 | +€2,878 | +756% |
| Remuneration and social security | 454/9 | €1,223 | €2,430 | +€1,207 | +98.6% |
| Other amounts payable | 47/48 | €11,072 | €8,072 | -€3,000 | -27.1% |
| Accrued charges and deferred income | 492/3 | €635 | €957 | +€323 | +50.8% |
| Remuneration, social security and pensions | 62 | €6,321 | €11,086 | +€4,766 | +75.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,574 | €17,939 | -€6,634 | -27.0% |
| Other operating charges | 640/8 | €4,546 | €7,198 | +€2,652 | +58.3% |
| Gross operating margin | 9900 | €48,153 | €66,226 | +€18,073 | +37.5% |
| Operating profit (loss) | 9901 | €12,712 | €30,002 | +€17,289 | +136% |
| Financial income | 75/76B | €43 | €31 | -€12 | -28.4% |
| Recurring financial income | 75 | €43 | €31 | -€12 | -28.4% |
| Financial charges | 65/66B | €2,230 | €2,033 | -€198 | -8.9% |
| Recurring financial charges | 65 | €2,230 | €2,033 | -€198 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | €10,525 | €28,000 | +€17,475 | +166% |
| Income taxes | 67/77 | €2 | €1,915 | +€1,912 | +80,686% |
| Profit (loss) for the period | 9904 | €10,523 | €26,085 | +€15,562 | +148% |
| Profit (loss) for the period to be appropriated | 9905 | €10,523 | €26,085 | +€15,562 | +148% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.