Lien Blanckaert: 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.
Lien Blanckaert
Largest movements
- Stocks and contracts -€12,397
down €12,397 (-6.2%), from €200,406 to €188,009
- Receivables within one year +€10,826
up €10,826 (+60.8%), from €17,797 to €28,623
of which Other amounts receivable: +€6,076
- Intangible fixed assets -€10,000
down €10,000 (-25.5%), from €39,166 to €29,166
- Reserves -€23,806
down €23,806 (-5.6%), from €425,057 to €401,250
- Tax, wage and social debts -€7,538
down €7,538 (-74.7%), from €10,095 to €2,557
- Debts after one year +€6,578
up €6,578 (+7.7%), from €85,308 to €91,886
of which Other amounts payable: +€34,450
- Gross operating margin -€15,241
down €15,241 (-17.4%), from €87,608 to €72,367
- Taxes -€6,752
down €6,752 (-27.6%), from €24,483 to €17,731
- Write-downs +€3,034
up €3,034 (+13167.0%), from €23 to €3,057
- Financial charges +€2,106
up €2,106 (+86.7%), from €2,429 to €4,536
- Financial income -€1,155
down €1,155 (-54.4%), from €2,123 to €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.
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 | €568,812 | €550,516 | -€18,295 | -3.2% |
| Fixed assets | 21/28 | €49,659 | €37,172 | -€12,486 | -25.1% |
| Intangible fixed assets | 21 | €39,166 | €29,166 | -€10,000 | -25.5% |
| Tangible fixed assets | 22/27 | €10,492 | €8,006 | -€2,487 | -23.7% |
| Plant, machinery and equipment | 23 | €1,115 | €0 | -€1,115 | -100.0% |
| Furniture and vehicles | 24 | €267 | €0 | -€267 | -100.0% |
| Other tangible fixed assets | 26 | €9,110 | €8,006 | -€1,104 | -12.1% |
| Current assets | 29/58 | €519,153 | €513,344 | -€5,809 | -1.1% |
| Stocks and contracts in progress | 3 | €200,406 | €188,009 | -€12,397 | -6.2% |
| Stocks | 30/36 | €200,406 | €188,009 | -€12,397 | -6.2% |
| Amounts receivable within one year | 40/41 | €17,797 | €28,623 | +€10,826 | +60.8% |
| Trade receivables | 40 | €526 | €5,276 | +€4,750 | +903.1% |
| Other amounts receivable | 41 | €17,271 | €23,347 | +€6,076 | +35.2% |
| Cash at bank and in hand | 54/58 | €297,889 | €294,347 | -€3,541 | -1.2% |
| Deferred charges and accrued income | 490/1 | €3,061 | €2,365 | -€696 | -22.7% |
| Total equity and liabilities | 10/49 | €568,812 | €550,516 | -€18,295 | -3.2% |
| Equity | 10/15 | €443,657 | €419,850 | -€23,806 | -5.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €425,057 | €401,250 | -€23,806 | -5.6% |
| Distributable reserves | 133 | €425,057 | €401,250 | -€23,806 | -5.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €125,155 | €130,666 | +€5,511 | +4.4% |
| Amounts payable after more than one year | 17 | €85,308 | €91,886 | +€6,578 | +7.7% |
| Financial debts | 170/4 | €15,903 | €8,030 | -€7,873 | -49.5% |
| Trade debts | 175 | €50,000 | €30,000 | -€20,000 | -40.0% |
| Other amounts payable | 178/9 | €19,405 | €53,856 | +€34,450 | +177.5% |
| Amounts payable within one year | 42/48 | €39,494 | €38,367 | -€1,127 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €7,718 | €7,873 | +€154 | +2.0% |
| Trade debts | 44 | €2,166 | €5,816 | +€3,650 | +168.5% |
| Suppliers | 440/4 | €2,166 | €5,816 | +€3,650 | +168.5% |
| Taxes, remuneration and social security | 45 | €10,095 | €2,557 | -€7,538 | -74.7% |
| Taxes | 450/3 | €10,095 | €2,557 | -€7,538 | -74.7% |
| Other amounts payable | 47/48 | €19,515 | €22,122 | +€2,607 | +13.4% |
| Accrued charges and deferred income | 492/3 | €353 | €414 | +€60 | +17.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,242 | €12,486 | +€245 | +2.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €23 | €3,057 | +€3,034 | +13167.0% |
| Other operating charges | 640/8 | €1,156 | €1,655 | +€498 | +43.1% |
| Gross operating margin | 9900 | €87,608 | €72,367 | -€15,241 | -17.4% |
| Operating profit (loss) | 9901 | €74,187 | €55,169 | -€19,018 | -25.6% |
| Financial income | 75/76B | €2,123 | €968 | -€1,155 | -54.4% |
| Recurring financial income | 75 | €2,123 | €968 | -€1,155 | -54.4% |
| Financial charges | 65/66B | €2,429 | €4,536 | +€2,106 | +86.7% |
| Recurring financial charges | 65 | €2,429 | €4,536 | +€2,106 | +86.7% |
| Profit (loss) for the period before taxes | 9903 | €73,881 | €51,601 | -€22,280 | -30.2% |
| Income taxes | 67/77 | €24,483 | €17,731 | -€6,752 | -27.6% |
| Profit (loss) for the period | 9904 | €49,398 | €33,871 | -€15,528 | -31.4% |
| Profit (loss) for the period to be appropriated | 9905 | €49,398 | €33,871 | -€15,528 | -31.4% |
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 9 October 2026 via checked.be.