Lenrec: 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.
What changed
Lenrec
NACE 64.210, Activities of holding companies
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
€847,633
2023 · €933,930-€86,297
Equity
€13.9m
2023 · €13.1m+€847,633
Cash
€215,090
2023 · €834,084-€618,995
Balance sheet total
€16.4m
2023 · €16.7m-€284,990
Largest movements
Assets
- Cash -€618,995
down €618,995 (-74.2%), from €834,084 to €215,090
mainly Other debts (-€604,258) and Trade debts (-€334,081)
- Financial fixed assets +€243,619
up €243,619 (+1.7%), from €14.2m to €14.4m
of which Affiliated companies: +€243,619
Equity and liabilities
- Profit (loss) carried forward +€847,633
up €847,633 (+55.8%), from €1.5m to €2.4m
- Other debts -€604,258
down €604,258 (-29.3%), from €2.1m to €1.5m
- Trade debts -€334,081
down €334,081 (-86.2%), from €387,724 to €53,643
- Debts after one year -€175,897
down €175,897 (-17.9%), from €979,980 to €804,083
Income statement
- Turnover -€495,139
down €495,139 (-52.2%), from €948,355 to €453,217
- Services and other goods -€375,786
down €375,786 (-76.5%), from €491,259 to €115,473
- Goods and materials +€252,978
up €252,978 (+575%), from €44,000 to €296,978
- Staff costs -€215,989
no longer reported in 2024 (was €215,989)
- Taxes -€87,261
down €87,261, from €87,144 to -€117
of which Taxes: -€87,244
From the 2023 result to the 2024 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.
Result 2023
€933,930
Turnover
-€495,139
Other operating income
-€62,528
Goods and materials
-€252,978
Services and other goods
+€375,786
Staff costs
+€215,989
Depreciation
+€3,347
Provisions
-€17,000
Other operating charges
+€34
Other operating items
-€10,403
Financial income
+€74,924
Financial charges
-€5,590
Taxes
+€87,261
Result 2024
€847,633
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€199,301
Investment
-€240,187
Financing
-€179,507
Cash 2023
€834,084
From operations (derived)
-€199,301
Net result for the year
+€847,633
Depreciation
+€5,790
Receivables within one year
-€101,167
Deferred charges and accrued income
+€1,560
Trade debts
-€334,081
Tax, wage and social debts
-€24,375
Other debts
-€604,258
Accrued charges and deferred income
+€9,598
Investment (derived)
-€240,187
Investment in fixed assets (net)
-€240,187
Financing
-€179,507
Debts after one year
-€175,897
Current portion of long-term debt
-€3,610
Cash 2024
€215,090
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,697,963 | €16,412,973 | -€284,990 | -1.7% |
| Fixed assets | 21/28 | €14,177,763 | €14,412,160 | +€234,397 | +1.7% |
| Tangible fixed assets | 22/27 | €10,729 | €1,507 | -€9,222 | -86.0% |
| Furniture and vehicles | 24 | €10,729 | €1,507 | -€9,222 | -86.0% |
| Financial fixed assets | 28 | €14,167,034 | €14,410,653 | +€243,619 | +1.7% |
| Affiliated companies | 280/1 | €14,167,005 | €14,410,624 | +€243,619 | +1.7% |
| Participating interests | 280 | €11,819,852 | €11,819,852 | = | 0.0% |
| Amounts receivable | 281 | €2,347,153 | €2,590,772 | +€243,619 | +10.4% |
| Other financial fixed assets | 284/8 | €29 | €29 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €29 | €29 | = | 0.0% |
| Current assets | 29/58 | €2,520,200 | €2,000,813 | -€519,387 | -20.6% |
| Amounts receivable within one year | 40/41 | €1,684,402 | €1,785,570 | +€101,167 | +6.0% |
| Trade receivables | 40 | €1,407,495 | €1,270,512 | -€136,983 | -9.7% |
| Other amounts receivable | 41 | €276,907 | €515,058 | +€238,151 | +86.0% |
| Cash at bank and in hand | 54/58 | €834,084 | €215,090 | -€618,995 | -74.2% |
| Deferred charges and accrued income | 490/1 | €1,713 | €154 | -€1,560 | -91.0% |
| Total equity and liabilities | 10/49 | €16,697,963 | €16,412,973 | -€284,990 | -1.7% |
| Equity | 10/15 | €13,055,511 | €13,903,144 | +€847,633 | +6.5% |
| Contributions | 10/11 | €6,712,600 | €6,712,600 | = | 0.0% |
| Reserves | 13 | €4,824,752 | €4,824,752 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,500 | €13,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €13,500 | €13,500 | = | 0.0% |
| Distributable reserves | 133 | €4,811,252 | €4,811,252 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,518,159 | €2,365,792 | +€847,633 | +55.8% |
| Amounts payable | 17/49 | €3,642,453 | €2,509,829 | -€1.1m | -31.1% |
| Amounts payable after more than one year | 17 | €979,980 | €804,083 | -€175,897 | -17.9% |
| Financial debts | 170/4 | €979,980 | €804,083 | -€175,897 | -17.9% |
| Credit institutions | 173 | €334,094 | €209,797 | -€124,297 | -37.2% |
| Other loans | 174 | €645,887 | €594,287 | -€51,600 | -8.0% |
| Amounts payable within one year | 42/48 | €2,660,567 | €1,694,243 | -€966,324 | -36.3% |
| Current portion of amounts payable after more than one year | 42 | €179,507 | €175,897 | -€3,610 | -2.0% |
| Trade debts | 44 | €387,724 | €53,643 | -€334,081 | -86.2% |
| Suppliers | 440/4 | €387,724 | €53,643 | -€334,081 | -86.2% |
| Taxes, remuneration and social security | 45 | €30,892 | €6,517 | -€24,375 | -78.9% |
| Taxes | 450/3 | €30,892 | €6,517 | -€24,375 | -78.9% |
| Other amounts payable | 47/48 | €2,062,444 | €1,458,186 | -€604,258 | -29.3% |
| Accrued charges and deferred income | 492/3 | €1,905 | €11,503 | +€9,598 | +504% |
| Operating income | 70/76A | €1,013,514 | €455,847 | -€557,667 | -55.0% |
| Turnover | 70 | €948,355 | €453,217 | -€495,139 | -52.2% |
| Other operating income | 74 | €65,158 | €2,630 | -€62,528 | -96.0% |
| Operating charges | 60/66A | €756,476 | €441,701 | -€314,775 | -41.6% |
| Goods for resale, raw materials and consumables | 60 | €44,000 | €296,978 | +€252,978 | +575% |
| Purchases | 600/8 | €44,000 | €296,978 | +€252,978 | +575% |
| Services and other goods | 61 | €491,259 | €115,473 | -€375,786 | -76.5% |
| Remuneration, social security and pensions | 62 | €215,989 | - | -€215,989 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,137 | €5,790 | -€3,347 | -36.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€17,000 | - | +€17,000 | |
| Other operating charges | 640/8 | €4,389 | €4,354 | -€34 | -0.8% |
| Non-recurring operating charges | 66A | €8,701 | €19,105 | +€10,403 | +120% |
| Operating profit (loss) | 9901 | €257,038 | €14,146 | -€242,892 | -94.5% |
| Financial income | 75/76B | €780,081 | €855,005 | +€74,924 | +9.6% |
| Recurring financial income | 75 | €780,081 | €850,005 | +€69,924 | +9.0% |
| Income from financial fixed assets | 750 | €780,000 | €850,000 | +€70,000 | +9.0% |
| Other financial income | 752/9 | €81 | €5 | -€76 | -94.0% |
| Non-recurring financial income | 76B | - | €5,000 | +€5,000 | |
| Financial charges | 65/66B | €16,045 | €21,635 | +€5,590 | +34.8% |
| Recurring financial charges | 65 | €16,045 | €21,635 | +€5,590 | +34.8% |
| Debt charges | 650 | €13,410 | €19,772 | +€6,362 | +47.4% |
| Other financial charges | 652/9 | €2,634 | €1,863 | -€772 | -29.3% |
| Profit (loss) for the period before taxes | 9903 | €1,021,074 | €847,516 | -€173,558 | -17.0% |
| Income taxes | 67/77 | €87,144 | -€117 | -€87,261 | |
| Taxes | 670/3 | €87,244 | - | -€87,244 | |
| Tax adjustments and reversals of tax provisions | 77 | €99 | €117 | +€18 | +17.8% |
| Profit (loss) for the period | 9904 | €933,930 | €847,633 | -€86,297 | -9.2% |
| Profit (loss) for the period to be appropriated | 9905 | €933,930 | €847,633 | -€86,297 | -9.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.