LENOIR: 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.
LENOIR
Largest movements
- Tangible fixed assets -€4,496
down €4,496 (-18.2%), from €24,690 to €20,193
- Other debts +€33,885
new in 2025: €33,885
- Reserves -€31,221
down €31,221 (-34.4%), from €90,854 to €59,633
of which Distributable reserves: -€31,221
- Debts after one year -€9,826
down €9,826 (-92.2%), from €10,662 to €836
- Tax, wage and social debts +€1,345
up €1,345 (+115.6%), from €1,164 to €2,509
of which Taxes: +€745
- Gross operating margin -€9,055
down €9,055 (-38.1%), from €23,787 to €14,731
- Taxes -€2,461
down €2,461 (-53.3%), from €4,618 to €2,157
- Depreciation +€390
up €390 (+6.6%), from €5,923 to €6,314
- Other operating charges +€311
up €311 (+44.5%), from €699 to €1,010
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 | €131,164 | €126,353 | -€4,811 | -3.7% |
| Fixed assets | 21/28 | €24,901 | €20,405 | -€4,496 | -18.1% |
| Tangible fixed assets | 22/27 | €24,690 | €20,193 | -€4,496 | -18.2% |
| Furniture and vehicles | 24 | €24,690 | €20,193 | -€4,496 | -18.2% |
| Financial fixed assets | 28 | €212 | €212 | = | 0.0% |
| Current assets | 29/58 | €106,263 | €105,949 | -€315 | -0.3% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €40,621 | €40,275 | -€345 | -0.8% |
| Trade receivables | 40 | €39,979 | €39,138 | -€841 | -2.1% |
| Other amounts receivable | 41 | €642 | €1,137 | +€495 | +77.2% |
| Cash at bank and in hand | 54/58 | €64,896 | €64,878 | -€18 | 0.0% |
| Deferred charges and accrued income | 490/1 | €747 | €796 | +€49 | +6.5% |
| Total equity and liabilities | 10/49 | €131,164 | €126,353 | -€4,811 | -3.7% |
| Equity | 10/15 | €109,446 | €78,225 | -€31,221 | -28.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €90,854 | €59,633 | -€31,221 | -34.4% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €88,995 | €57,774 | -€31,221 | -35.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €21,718 | €48,128 | +€26,410 | +121.6% |
| Amounts payable after more than one year | 17 | €10,662 | €836 | -€9,826 | -92.2% |
| Financial debts | 170/4 | €10,662 | €836 | -€9,826 | -92.2% |
| Amounts payable within one year | 42/48 | €11,056 | €47,293 | +€36,236 | +327.7% |
| Current portion of amounts payable after more than one year | 42 | €9,466 | €9,826 | +€360 | +3.8% |
| Trade debts | 44 | €427 | €1,073 | +€646 | +151.4% |
| Suppliers | 440/4 | €427 | €1,073 | +€646 | +151.4% |
| Taxes, remuneration and social security | 45 | €1,164 | €2,509 | +€1,345 | +115.6% |
| Taxes | 450/3 | €1,118 | €1,863 | +€745 | +66.7% |
| Remuneration and social security | 454/9 | €46 | €646 | +€600 | +1304.5% |
| Other amounts payable | 47/48 | - | €33,885 | +€33,885 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,923 | €6,314 | +€390 | +6.6% |
| Other operating charges | 640/8 | €699 | €1,010 | +€311 | +44.5% |
| Gross operating margin | 9900 | €23,787 | €14,731 | -€9,055 | -38.1% |
| Operating profit (loss) | 9901 | €17,164 | €7,407 | -€9,757 | -56.8% |
| Financial income | 75/76B | €190 | €197 | +€7 | +3.6% |
| Recurring financial income | 75 | €190 | €197 | +€7 | +3.6% |
| Financial charges | 65/66B | €1,201 | €1,000 | -€201 | -16.7% |
| Recurring financial charges | 65 | €1,201 | €1,000 | -€201 | -16.7% |
| Profit (loss) for the period before taxes | 9903 | €16,153 | €6,604 | -€9,549 | -59.1% |
| Income taxes | 67/77 | €4,618 | €2,157 | -€2,461 | -53.3% |
| Profit (loss) for the period | 9904 | €11,535 | €4,447 | -€7,088 | -61.4% |
| Profit (loss) for the period to be appropriated | 9905 | €11,535 | €4,447 | -€7,088 | -61.4% |
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 8 October 2026 via checked.be.