LENSEN: 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.
LENSEN
Largest movements
- Tangible fixed assets -€555,091
down €555,091 (-30.9%), from €1.8m to €1.2m
of which Furniture and vehicles: -€445,523
- Current investments -€252,750
down €252,750 (-100.0%), from €252,750 to €0
- Cash +€151,719
up €151,719 (+4376.3%), from €3,467 to €155,186
mainly Depreciation (+€607,701) and Short-term financial debts (+€288,199)
- Receivables within one year +€145,336
up €145,336 (+12.4%), from €1.2m to €1.3m
of which Trade receivables: +€174,780
- Debts after one year -€486,556
down €486,556 (-54.2%), from €898,480 to €411,924
- Reserves -€417,456
down €417,456 (-36.3%), from €1.2m to €733,166
of which Distributable reserves: -€417,456
- Short-term financial debts +€288,199
up €288,199 (+2767.0%), from €10,415 to €298,615
- Current portion of long-term debt -€169,612
down €169,612 (-31.4%), from €540,418 to €370,805
- Trade debts +€136,875
up €136,875 (+38.9%), from €351,732 to €488,607
- Financial charges -€261,704
down €261,704 (-73.6%), from €355,790 to €94,086
- Financial income -€192,552
down €192,552 (-87.6%), from €219,856 to €27,304
of which Non-recurring financial income: -€164,318
- Gross operating margin +€142,538
up €142,538 (+9.8%), from €1.5m to €1.6m
- Staff costs +€133,750
up €133,750 (+12.3%), from €1.1m to €1.2m
- Other operating charges +€32,141
up €32,141 (+114.2%), from €28,141 to €60,282
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 | €3,310,742 | €2,785,926 | -€524,816 | -15.9% |
| Fixed assets | 21/28 | €1,797,287 | €1,242,196 | -€555,091 | -30.9% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €1,797,227 | €1,242,136 | -€555,091 | -30.9% |
| Plant, machinery and equipment | 23 | €117,313 | €100,498 | -€16,815 | -14.3% |
| Furniture and vehicles | 24 | €757,790 | €312,267 | -€445,523 | -58.8% |
| Leasing and similar rights | 25 | €630,673 | €520,137 | -€110,537 | -17.5% |
| Other tangible fixed assets | 26 | - | €309,234 | +€309,234 | |
| Assets under construction and advance payments | 27 | €291,451 | €0 | -€291,451 | -100.0% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €1,513,456 | €1,543,730 | +€30,275 | +2.0% |
| Amounts receivable within one year | 40/41 | €1,174,336 | €1,319,672 | +€145,336 | +12.4% |
| Trade receivables | 40 | €379,276 | €554,055 | +€174,780 | +46.1% |
| Other amounts receivable | 41 | €795,060 | €765,617 | -€29,443 | -3.7% |
| Current investments | 50/53 | €252,750 | €0 | -€252,750 | -100.0% |
| Cash at bank and in hand | 54/58 | €3,467 | €155,186 | +€151,719 | +4376.3% |
| Deferred charges and accrued income | 490/1 | €82,902 | €68,872 | -€14,030 | -16.9% |
| Total equity and liabilities | 10/49 | €3,310,742 | €2,785,926 | -€524,816 | -15.9% |
| Equity | 10/15 | €1,350,622 | €933,166 | -€417,456 | -30.9% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €1,150,622 | €733,166 | -€417,456 | -36.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,150,622 | €733,166 | -€417,456 | -36.3% |
| Amounts payable | 17/49 | €1,960,120 | €1,852,760 | -€107,360 | -5.5% |
| Amounts payable after more than one year | 17 | €898,480 | €411,924 | -€486,556 | -54.2% |
| Financial debts | 170/4 | €898,480 | €411,924 | -€486,556 | -54.2% |
| Amounts payable within one year | 42/48 | €1,061,640 | €1,439,823 | +€378,183 | +35.6% |
| Current portion of amounts payable after more than one year | 42 | €540,418 | €370,805 | -€169,612 | -31.4% |
| Financial debts | 43 | €10,415 | €298,615 | +€288,199 | +2767.0% |
| Credit institutions | 430/8 | €10,415 | €298,615 | +€288,199 | +2767.0% |
| Trade debts | 44 | €351,732 | €488,607 | +€136,875 | +38.9% |
| Suppliers | 440/4 | €351,732 | €488,607 | +€136,875 | +38.9% |
| Taxes, remuneration and social security | 45 | €115,561 | €174,687 | +€59,126 | +51.2% |
| Taxes | 450/3 | €10,865 | €57,552 | +€46,687 | +429.7% |
| Remuneration and social security | 454/9 | €104,696 | €117,135 | +€12,439 | +11.9% |
| Other amounts payable | 47/48 | €43,514 | €107,109 | +€63,596 | +146.2% |
| Accrued charges and deferred income | 492/3 | - | €1,013 | +€1,013 | |
| Non-recurring operating income | 76A | €59,838 | €93,144 | +€33,306 | +55.7% |
| Remuneration, social security and pensions | 62 | €1,087,408 | €1,221,158 | +€133,750 | +12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €626,311 | €607,701 | -€18,609 | -3.0% |
| Other operating charges | 640/8 | €28,141 | €60,282 | +€32,141 | +114.2% |
| Non-recurring operating charges | 66A | - | €57,613 | +€57,613 | |
| Gross operating margin | 9900 | €1,453,740 | €1,596,278 | +€142,538 | +9.8% |
| Operating profit (loss) | 9901 | -€288,120 | -€350,475 | -€62,355 | -21.6% |
| Financial income | 75/76B | €219,856 | €27,304 | -€192,552 | -87.6% |
| Recurring financial income | 75 | €55,539 | €27,304 | -€28,235 | -50.8% |
| Non-recurring financial income | 76B | €164,318 | - | -€164,318 | |
| Financial charges | 65/66B | €355,790 | €94,086 | -€261,704 | -73.6% |
| Recurring financial charges | 65 | €355,790 | €94,086 | -€261,704 | -73.6% |
| Profit (loss) for the period before taxes | 9903 | -€424,053 | -€417,257 | +€6,796 | +1.6% |
| Income taxes | 67/77 | €194 | €199 | +€4 | +2.2% |
| Profit (loss) for the period | 9904 | -€424,248 | -€417,456 | +€6,792 | +1.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€424,248 | -€417,456 | +€6,792 | +1.6% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.