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
- Cash +€29,301
up €29,301 (+61.0%), from €48,062 to €77,362
mainly Depreciation (+€18,898) and Net result for the year (+€16,457)
- Tangible fixed assets -€18,013
down €18,013 (-23.5%), from €76,793 to €58,781
of which Furniture and vehicles: -€11,180
- Receivables within one year -€9,359
down €9,359 (-18.0%), from €51,990 to €42,631
of which Trade receivables: -€7,563
- Reserves +€16,457
up €16,457 (+63.2%), from €26,049 to €42,506
- Other debts -€14,717
down €14,717 (-37.4%), from €39,321 to €24,604
- Tax, wage and social debts +€8,749
up €8,749 (+138.5%), from €6,318 to €15,067
of which Remuneration and social security: +€6,852
- Trade debts -€6,411
down €6,411 (-94.9%), from €6,755 to €344
- Debts after one year -€3,085
down €3,085 (-24.3%), from €12,714 to €9,629
- Gross operating margin +€17,193
up €17,193 (+21.8%), from €78,708 to €95,901
- Other operating charges +€5,313
up €5,313 (+124.8%), from €4,258 to €9,572
- Taxes +€3,744
up €3,744 (+93.6%), from €3,998 to €7,742
- Financial charges -€1,463
down €1,463 (-40.9%), from €3,580 to €2,117
- Depreciation +€1,160
up €1,160 (+6.5%), from €17,738 to €18,898
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 | €180,835 | €181,888 | +€1,053 | +0.6% |
| Fixed assets | 21/28 | €80,784 | €61,895 | -€18,889 | -23.4% |
| Intangible fixed assets | 21 | €3,619 | €2,733 | -€885 | -24.5% |
| Tangible fixed assets | 22/27 | €76,793 | €58,781 | -€18,013 | -23.5% |
| Land and buildings | 22 | €35,246 | €29,016 | -€6,230 | -17.7% |
| Plant, machinery and equipment | 23 | €1,790 | €1,187 | -€603 | -33.7% |
| Furniture and vehicles | 24 | €39,758 | €28,578 | -€11,180 | -28.1% |
| Financial fixed assets | 28 | €372 | €381 | +€9 | +2.4% |
| Current assets | 29/58 | €100,051 | €119,993 | +€19,942 | +19.9% |
| Amounts receivable within one year | 40/41 | €51,990 | €42,631 | -€9,359 | -18.0% |
| Trade receivables | 40 | €48,437 | €40,874 | -€7,563 | -15.6% |
| Other amounts receivable | 41 | €3,553 | €1,757 | -€1,796 | -50.5% |
| Cash at bank and in hand | 54/58 | €48,062 | €77,362 | +€29,301 | +61.0% |
| Total equity and liabilities | 10/49 | €180,835 | €181,888 | +€1,053 | +0.6% |
| Equity | 10/15 | €112,702 | €129,158 | +€16,457 | +14.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €26,049 | €42,506 | +€16,457 | +63.2% |
| Distributable reserves | 133 | €26,049 | €42,506 | +€16,457 | +63.2% |
| Profit (loss) carried forward | 14 | €68,053 | €68,053 | = | 0.0% |
| Amounts payable | 17/49 | €68,133 | €52,730 | -€15,403 | -22.6% |
| Amounts payable after more than one year | 17 | €12,714 | €9,629 | -€3,085 | -24.3% |
| Financial debts | 170/4 | €12,714 | €9,629 | -€3,085 | -24.3% |
| Amounts payable within one year | 42/48 | €55,419 | €43,101 | -€12,318 | -22.2% |
| Current portion of amounts payable after more than one year | 42 | €3,025 | €3,085 | +€60 | +2.0% |
| Trade debts | 44 | €6,755 | €344 | -€6,411 | -94.9% |
| Suppliers | 440/4 | €6,755 | €344 | -€6,411 | -94.9% |
| Taxes, remuneration and social security | 45 | €6,318 | €15,067 | +€8,749 | +138.5% |
| Taxes | 450/3 | €6,318 | €8,216 | +€1,897 | +30.0% |
| Remuneration and social security | 454/9 | - | €6,852 | +€6,852 | |
| Other amounts payable | 47/48 | €39,321 | €24,604 | -€14,717 | -37.4% |
| Non-recurring operating income | 76A | - | €400 | +€400 | |
| Remuneration, social security and pensions | 62 | €41,928 | €41,117 | -€811 | -1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,738 | €18,898 | +€1,160 | +6.5% |
| Other operating charges | 640/8 | €4,258 | €9,572 | +€5,313 | +124.8% |
| Gross operating margin | 9900 | €78,708 | €95,901 | +€17,193 | +21.8% |
| Operating profit (loss) | 9901 | €14,784 | €26,315 | +€11,530 | +78.0% |
| Financial income | 75/76B | €288 | - | -€288 | |
| Recurring financial income | 75 | €288 | - | -€288 | |
| Financial charges | 65/66B | €3,580 | €2,117 | -€1,463 | -40.9% |
| Recurring financial charges | 65 | €3,580 | €2,117 | -€1,463 | -40.9% |
| Profit (loss) for the period before taxes | 9903 | €11,493 | €24,198 | +€12,705 | +110.5% |
| Income taxes | 67/77 | €3,998 | €7,742 | +€3,744 | +93.6% |
| Profit (loss) for the period | 9904 | €7,495 | €16,457 | +€8,961 | +119.6% |
| Profit (loss) for the period to be appropriated | 9905 | €7,495 | €16,457 | +€8,961 | +119.6% |
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 3 October 2026 via checked.be.