LENOIR L.: 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.
LENOIR L.
Largest movements
- Cash +€9,380
up €9,380 (+254%), from €3,686 to €13,065
mainly Net result for the year (+€24,572) and Receivables within one year (+€5,037)
- Receivables within one year -€5,037
down €5,037 (-94.1%), from €5,354 to €317
of which Trade receivables: -€5,037
- Reserves +€16,329
up €16,329 (+161%), from €10,167 to €26,496
- Debts after one year -€14,454
down €14,454 (-9.9%), from €145,524 to €131,070
- Profit (loss) carried forward +€6,998
up €6,998 (+134%), from €5,242 to €12,240
- Tax, wage and social debts -€3,982
down €3,982 (-38.1%), from €10,450 to €6,469
of which Taxes: -€3,990
- Current portion of long-term debt +€2,275
up €2,275 (+16.4%), from €13,876 to €16,151
- Gross operating margin +€11,085
up €11,085 (+44.9%), from €24,663 to €35,748
- Financial income +€6,056
up €6,056 (+115,352%), from €5 to €6,061
- Financial charges +€3,225
up €3,225 (+71.5%), from €4,513 to €7,738
- Taxes +€2,808
up €2,808 (+65.9%), from €4,260 to €7,068
- Depreciation +€968
up €968 (+96.9%), from €999 to €1,968
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 | €200,800 | €206,087 | +€5,287 | +2.6% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €190,757 | €192,305 | +€1,548 | +0.8% |
| Tangible fixed assets | 22/27 | €5,957 | €7,505 | +€1,548 | +26.0% |
| Land and buildings | 22 | €0 | - | = | |
| Furniture and vehicles | 24 | €3,026 | €4,771 | +€1,745 | +57.7% |
| Other tangible fixed assets | 26 | €2,931 | €2,734 | -€197 | -6.7% |
| Financial fixed assets | 28 | €184,800 | €184,800 | = | 0.0% |
| Current assets | 29/58 | €10,042 | €13,782 | +€3,740 | +37.2% |
| Amounts receivable within one year | 40/41 | €5,354 | €317 | -€5,037 | -94.1% |
| Trade receivables | 40 | €5,354 | €317 | -€5,037 | -94.1% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €3,686 | €13,065 | +€9,380 | +254% |
| Deferred charges and accrued income | 490/1 | €1,003 | €400 | -€603 | -60.1% |
| Total equity and liabilities | 10/49 | €200,800 | €206,087 | +€5,287 | +2.6% |
| Equity | 10/15 | €20,408 | €43,736 | +€23,327 | +114% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €10,167 | €26,496 | +€16,329 | +161% |
| Distributable reserves | 133 | €10,167 | €26,496 | +€16,329 | +161% |
| Profit (loss) carried forward | 14 | €5,242 | €12,240 | +€6,998 | +134% |
| Amounts payable | 17/49 | €180,391 | €162,351 | -€18,040 | -10.0% |
| Amounts payable after more than one year | 17 | €145,524 | €131,070 | -€14,454 | -9.9% |
| Financial debts | 170/4 | €145,524 | €131,070 | -€14,454 | -9.9% |
| Amounts payable within one year | 42/48 | €34,867 | €31,281 | -€3,586 | -10.3% |
| Current portion of amounts payable after more than one year | 42 | €13,876 | €16,151 | +€2,275 | +16.4% |
| Trade debts | 44 | €1,007 | €475 | -€533 | -52.9% |
| Suppliers | 440/4 | €1,007 | €475 | -€533 | -52.9% |
| Taxes, remuneration and social security | 45 | €10,450 | €6,469 | -€3,982 | -38.1% |
| Taxes | 450/3 | €8,298 | €4,309 | -€3,990 | -48.1% |
| Remuneration and social security | 454/9 | €2,152 | €2,160 | +€8 | +0.4% |
| Other amounts payable | 47/48 | €9,533 | €8,186 | -€1,347 | -14.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €999 | €1,968 | +€968 | +96.9% |
| Other operating charges | 640/8 | €481 | €463 | -€18 | -3.7% |
| Gross operating margin | 9900 | €24,663 | €35,748 | +€11,085 | +44.9% |
| Operating profit (loss) | 9901 | €23,183 | €33,317 | +€10,134 | +43.7% |
| Financial income | 75/76B | €5 | €6,061 | +€6,056 | +115,352% |
| Recurring financial income | 75 | €5 | €6,061 | +€6,056 | +115,352% |
| Financial charges | 65/66B | €4,513 | €7,738 | +€3,225 | +71.5% |
| Recurring financial charges | 65 | €4,513 | €7,738 | +€3,225 | +71.5% |
| Profit (loss) for the period before taxes | 9903 | €18,675 | €31,640 | +€12,965 | +69.4% |
| Income taxes | 67/77 | €4,260 | €7,068 | +€2,808 | +65.9% |
| Profit (loss) for the period | 9904 | €14,415 | €24,572 | +€10,157 | +70.5% |
| Profit (loss) for the period to be appropriated | 9905 | €14,415 | €24,572 | +€10,157 | +70.5% |
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 23 October 2026 via checked.be.