LENU: 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.
LENU
Largest movements
- Cash +€11,909
up €11,909 (+172%), from €6,933 to €18,842
mainly Net result for the year (+€21,170) and Depreciation (+€4,603)
- Receivables within one year +€9,480
up €9,480 (+22.4%), from €42,409 to €51,890
of which Other amounts receivable: +€12,042
- Tangible fixed assets -€4,603
down €4,603 (-3.7%), from €124,678 to €120,075
of which Plant, machinery and equipment: -€2,468
- Reserves +€21,170
up €21,170 (+15.0%), from €140,847 to €162,017
of which Distributable reserves: +€21,170
- Debts after one year -€8,283
down €8,283 (-65.9%), from €12,569 to €4,286
- Gross operating margin +€26,852
up €26,852 (+70.0%), from €38,338 to €65,190
- Staff costs +€4,415
up €4,415 (+14.1%), from €31,222 to €35,637
- Taxes +€2,108
up €2,108 (+1,495%), from €141 to €2,249
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 | €183,730 | €198,966 | +€15,236 | +8.3% |
| Fixed assets | 21/28 | €124,948 | €120,345 | -€4,603 | -3.7% |
| Tangible fixed assets | 22/27 | €124,678 | €120,075 | -€4,603 | -3.7% |
| Land and buildings | 22 | €113,569 | €113,569 | = | 0.0% |
| Plant, machinery and equipment | 23 | €7,420 | €4,951 | -€2,468 | -33.3% |
| Furniture and vehicles | 24 | €3,689 | €1,554 | -€2,134 | -57.9% |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €58,782 | €78,621 | +€19,839 | +33.7% |
| Stocks and contracts in progress | 3 | €5,000 | €5,000 | = | 0.0% |
| Stocks | 30/36 | €5,000 | €5,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €42,409 | €51,890 | +€9,480 | +22.4% |
| Trade receivables | 40 | €8,535 | €5,973 | -€2,561 | -30.0% |
| Other amounts receivable | 41 | €33,874 | €45,916 | +€12,042 | +35.5% |
| Cash at bank and in hand | 54/58 | €6,933 | €18,842 | +€11,909 | +172% |
| Deferred charges and accrued income | 490/1 | €4,440 | €2,889 | -€1,551 | -34.9% |
| Total equity and liabilities | 10/49 | €183,730 | €198,966 | +€15,236 | +8.3% |
| Equity | 10/15 | €153,247 | €174,417 | +€21,170 | +13.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €140,847 | €162,017 | +€21,170 | +15.0% |
| Tax-exempt reserves | 132 | €22,000 | €22,000 | = | 0.0% |
| Distributable reserves | 133 | €118,847 | €140,017 | +€21,170 | +17.8% |
| Amounts payable | 17/49 | €30,483 | €24,548 | -€5,934 | -19.5% |
| Amounts payable after more than one year | 17 | €12,569 | €4,286 | -€8,283 | -65.9% |
| Financial debts | 170/4 | €12,569 | €4,286 | -€8,283 | -65.9% |
| Amounts payable within one year | 42/48 | €17,914 | €20,263 | +€2,349 | +13.1% |
| Current portion of amounts payable after more than one year | 42 | €8,283 | €8,283 | = | 0.0% |
| Trade debts | 44 | €2,470 | €4,377 | +€1,906 | +77.2% |
| Suppliers | 440/4 | €2,470 | €4,377 | +€1,906 | +77.2% |
| Taxes, remuneration and social security | 45 | €7,160 | €7,603 | +€442 | +6.2% |
| Taxes | 450/3 | €6,876 | €4,968 | -€1,908 | -27.7% |
| Remuneration and social security | 454/9 | €284 | €2,634 | +€2,350 | +827% |
| Non-recurring operating income | 76A | - | €4,977 | +€4,977 | |
| Remuneration, social security and pensions | 62 | €31,222 | €35,637 | +€4,415 | +14.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,195 | €4,603 | -€592 | -11.4% |
| Other operating charges | 640/8 | €2,425 | €2,470 | +€45 | +1.9% |
| Gross operating margin | 9900 | €38,338 | €65,190 | +€26,852 | +70.0% |
| Operating profit (loss) | 9901 | -€504 | €22,480 | +€22,984 | |
| Financial income | 75/76B | €2,969 | €3,222 | +€253 | +8.5% |
| Recurring financial income | 75 | €2,969 | €3,222 | +€253 | +8.5% |
| Financial charges | 65/66B | €2,447 | €2,283 | -€163 | -6.7% |
| Recurring financial charges | 65 | €2,447 | €2,283 | -€163 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €18 | €23,419 | +€23,401 | +129,143% |
| Income taxes | 67/77 | €141 | €2,249 | +€2,108 | +1,495% |
| Profit (loss) for the period | 9904 | -€123 | €21,170 | +€21,293 | |
| Profit (loss) for the period to be appropriated | 9905 | -€123 | €21,170 | +€21,293 |
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 14 October 2026 via checked.be.