Lenoa: 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.
Lenoa
Largest movements
- Cash +€47,355
up €47,355 (+89.7%), from €52,786 to €100,141
mainly Net result for the year (+€59,527) and Tax, wage and social debts (+€11,741)
- Receivables within one year +€40,425
up €40,425 (+141%), from €28,644 to €69,070
of which Trade receivables: +€40,429
- Tangible fixed assets -€11,591
down €11,591 (-37.1%), from €31,216 to €19,625
- Reserves +€59,527
up €59,527 (+93.7%), from €63,555 to €123,083
of which Distributable reserves: +€59,527
- Tax, wage and social debts +€11,741
up €11,741 (+72.4%), from €16,217 to €27,958
of which Taxes: +€8,874
- Trade debts +€3,282
up €3,282 (+101%), from €3,242 to €6,524
- Gross operating margin +€53,920
up €53,920 (+118%), from €45,527 to €99,447
- Taxes +€13,093
up €13,093 (+116%), from €11,326 to €24,420
- Depreciation +€8,031
up €8,031 (+226%), from €3,560 to €11,591
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 | €116,638 | €193,032 | +€76,394 | +65.5% |
| Fixed assets | 21/28 | €31,216 | €19,625 | -€11,591 | -37.1% |
| Tangible fixed assets | 22/27 | €31,216 | €19,625 | -€11,591 | -37.1% |
| Furniture and vehicles | 24 | €31,216 | €19,625 | -€11,591 | -37.1% |
| Current assets | 29/58 | €85,422 | €173,407 | +€87,985 | +103% |
| Amounts receivable within one year | 40/41 | €28,644 | €69,070 | +€40,425 | +141% |
| Trade receivables | 40 | €24,717 | €65,146 | +€40,429 | +164% |
| Other amounts receivable | 41 | €3,928 | €3,924 | -€4 | -0.1% |
| Cash at bank and in hand | 54/58 | €52,786 | €100,141 | +€47,355 | +89.7% |
| Deferred charges and accrued income | 490/1 | €3,991 | €4,196 | +€205 | +5.1% |
| Total equity and liabilities | 10/49 | €116,638 | €193,032 | +€76,394 | +65.5% |
| Equity | 10/15 | €75,955 | €135,483 | +€59,527 | +78.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €63,555 | €123,083 | +€59,527 | +93.7% |
| Non-distributable reserves | 130/1 | €572 | €572 | = | 0.0% |
| Reserves not available under the articles | 1311 | €572 | €572 | = | 0.0% |
| Distributable reserves | 133 | €62,984 | €122,511 | +€59,527 | +94.5% |
| Amounts payable | 17/49 | €40,683 | €57,550 | +€16,867 | +41.5% |
| Amounts payable within one year | 42/48 | €40,617 | €57,483 | +€16,865 | +41.5% |
| Trade debts | 44 | €3,242 | €6,524 | +€3,282 | +101% |
| Suppliers | 440/4 | €3,242 | €6,524 | +€3,282 | +101% |
| Taxes, remuneration and social security | 45 | €16,217 | €27,958 | +€11,741 | +72.4% |
| Taxes | 450/3 | €7,926 | €16,800 | +€8,874 | +112% |
| Remuneration and social security | 454/9 | €8,291 | €11,158 | +€2,867 | +34.6% |
| Other amounts payable | 47/48 | €21,158 | €23,000 | +€1,842 | +8.7% |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,560 | €11,591 | +€8,031 | +226% |
| Other operating charges | 640/8 | €558 | €531 | -€28 | -4.9% |
| Gross operating margin | 9900 | €45,527 | €99,447 | +€53,920 | +118% |
| Operating profit (loss) | 9901 | €41,409 | €87,325 | +€45,916 | +111% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €3,278 | €3,378 | +€100 | +3.1% |
| Recurring financial charges | 65 | €3,278 | €3,378 | +€100 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | €38,131 | €83,947 | +€45,816 | +120% |
| Income taxes | 67/77 | €11,326 | €24,420 | +€13,093 | +116% |
| Profit (loss) for the period | 9904 | €26,805 | €59,527 | +€32,722 | +122% |
| Profit (loss) for the period to be appropriated | 9905 | €26,805 | €59,527 | +€32,722 | +122% |
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 16 October 2026 via checked.be.