LIEVENS-LANCKMAN: 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.
LIEVENS-LANCKMAN
Largest movements
- Cash +€94,866
up €94,866 (+13.7%), from €691,601 to €786,467
mainly Net result for the year (+€74,056) and Investment in fixed assets (net) (+€60,646)
- Financial fixed assets -€60,646
down €60,646 (-88.9%), from €68,250 to €7,604
- Stocks and contracts -€47,019
down €47,019 (-56.5%), from €83,271 to €36,253
- Receivables within one year -€29,804
down €29,804 (-35.3%), from €84,385 to €54,581
of which Trade receivables: -€30,154
- Trade debts -€36,268
down €36,268 (-100%), from €36,268 to €0
- Gross operating margin +€197,418
up €197,418 (+392%), from €50,391 to €247,809
- Financial income -€53,105
down €53,105 (-77.0%), from €68,982 to €15,876
- Financial charges +€46,275
up €46,275 (+6,604%), from €701 to €46,975
- Taxes +€24,881
up €24,881 (+938%), from €2,652 to €27,533
- Staff costs +€5,115
up €5,115 (+5.2%), from €98,201 to €103,316
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 | €1,071,286 | €1,028,683 | -€42,603 | -4.0% |
| Fixed assets | 21/28 | €212,028 | €151,382 | -€60,646 | -28.6% |
| Tangible fixed assets | 22/27 | €143,778 | €143,778 | = | 0.0% |
| Land and buildings | 22 | €143,778 | €143,778 | = | 0.0% |
| Financial fixed assets | 28 | €68,250 | €7,604 | -€60,646 | -88.9% |
| Current assets | 29/58 | €859,258 | €877,301 | +€18,043 | +2.1% |
| Stocks and contracts in progress | 3 | €83,271 | €36,253 | -€47,019 | -56.5% |
| Stocks | 30/36 | €83,271 | €36,253 | -€47,019 | -56.5% |
| Amounts receivable within one year | 40/41 | €84,385 | €54,581 | -€29,804 | -35.3% |
| Trade receivables | 40 | €78,542 | €48,388 | -€30,154 | -38.4% |
| Other amounts receivable | 41 | €5,843 | €6,193 | +€350 | +6.0% |
| Cash at bank and in hand | 54/58 | €691,601 | €786,467 | +€94,866 | +13.7% |
| Total equity and liabilities | 10/49 | €1,071,286 | €1,028,683 | -€42,603 | -4.0% |
| Equity | 10/15 | €955,002 | €949,058 | -€5,944 | -0.6% |
| Contributions | 10/11 | €27,280 | €27,280 | = | 0.0% |
| Revaluation surpluses | 12 | €94,200 | €94,200 | = | 0.0% |
| Reserves | 13 | €26,415 | €26,415 | = | 0.0% |
| Non-distributable reserves | 130/1 | - | €21,700 | +€21,700 | |
| Reserves not available under the articles | 1311 | - | €21,700 | +€21,700 | |
| Tax-exempt reserves | 132 | €26,415 | €4,715 | -€21,700 | -82.2% |
| Profit (loss) carried forward | 14 | €807,107 | €801,163 | -€5,944 | -0.7% |
| Amounts payable | 17/49 | €116,284 | €79,626 | -€36,659 | -31.5% |
| Amounts payable after more than one year | 17 | €68,250 | €68,250 | = | 0.0% |
| Other amounts payable | 178/9 | €68,250 | €68,250 | = | 0.0% |
| Amounts payable within one year | 42/48 | €48,034 | €11,376 | -€36,659 | -76.3% |
| Trade debts | 44 | €36,268 | €0 | -€36,268 | -100% |
| Suppliers | 440/4 | €36,268 | €0 | -€36,268 | -100% |
| Taxes, remuneration and social security | 45 | €606 | €1,004 | +€398 | +65.7% |
| Taxes | 450/3 | €606 | €1,004 | +€398 | +65.7% |
| Other amounts payable | 47/48 | €11,160 | €10,372 | -€789 | -7.1% |
| Remuneration, social security and pensions | 62 | €98,201 | €103,316 | +€5,115 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,712 | €0 | -€2,712 | -100% |
| Other operating charges | 640/8 | €10,207 | €11,804 | +€1,597 | +15.6% |
| Gross operating margin | 9900 | €50,391 | €247,809 | +€197,418 | +392% |
| Operating profit (loss) | 9901 | -€60,729 | €132,688 | +€193,417 | |
| Financial income | 75/76B | €68,982 | €15,876 | -€53,105 | -77.0% |
| Recurring financial income | 75 | €68,982 | €15,876 | -€53,105 | -77.0% |
| Financial charges | 65/66B | €701 | €46,975 | +€46,275 | +6,604% |
| Recurring financial charges | 65 | €701 | €46,975 | +€46,275 | +6,604% |
| Profit (loss) for the period before taxes | 9903 | €7,552 | €101,589 | +€94,037 | +1,245% |
| Income taxes | 67/77 | €2,652 | €27,533 | +€24,881 | +938% |
| Profit (loss) for the period | 9904 | €4,900 | €74,056 | +€69,155 | +1,411% |
| Profit (loss) for the period to be appropriated | 9905 | €4,900 | €74,056 | +€69,155 | +1,411% |
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 1 November 2026 via checked.be.