LIPKENS WOUTER: 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.
LIPKENS WOUTER
Largest movements
- Tangible fixed assets +€21,642
up €21,642 (+66.7%), from €32,463 to €54,106
of which Furniture and vehicles: +€28,232
- Cash -€3,061
down €3,061 (-7.5%), from €40,837 to €37,776
mainly Investment in fixed assets (net) (-€42,566) and Current portion of long-term debt (-€5,554)
- Receivables within one year -€2,305
down €2,305 (-26.5%), from €8,713 to €6,408
- Debts after one year +€10,943
up €10,943 (+41.1%), from €26,600 to €37,543
of which Financial debts: +€13,248
- Reserves +€10,641
up €10,641 (+59.7%), from €17,837 to €28,479
of which Distributable reserves: +€10,641
- Current portion of long-term debt -€5,554
down €5,554 (-25.9%), from €21,408 to €15,854
- Gross operating margin +€8,520
up €8,520 (+29.9%), from €28,520 to €37,040
- Taxes +€1,555
up €1,555 (+153%), from €1,018 to €2,574
- Depreciation +€956
up €956 (+4.8%), from €19,968 to €20,924
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 | €82,013 | €98,289 | +€16,276 | +19.8% |
| Fixed assets | 21/28 | €32,463 | €54,106 | +€21,642 | +66.7% |
| Tangible fixed assets | 22/27 | €32,463 | €54,106 | +€21,642 | +66.7% |
| Land and buildings | 22 | €20,662 | €12,844 | -€7,818 | -37.8% |
| Plant, machinery and equipment | 23 | €1,762 | €2,990 | +€1,228 | +69.7% |
| Furniture and vehicles | 24 | €10,039 | €38,272 | +€28,232 | +281% |
| Current assets | 29/58 | €49,550 | €44,184 | -€5,366 | -10.8% |
| Amounts receivable within one year | 40/41 | €8,713 | €6,408 | -€2,305 | -26.5% |
| Other amounts receivable | 41 | €8,713 | €6,408 | -€2,305 | -26.5% |
| Cash at bank and in hand | 54/58 | €40,837 | €37,776 | -€3,061 | -7.5% |
| Total equity and liabilities | 10/49 | €82,013 | €98,289 | +€16,276 | +19.8% |
| Equity | 10/15 | €24,837 | €35,479 | +€10,641 | +42.8% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €17,837 | €28,479 | +€10,641 | +59.7% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €430 | €430 | = | 0.0% |
| Distributable reserves | 133 | €15,407 | €26,049 | +€10,641 | +69.1% |
| Amounts payable | 17/49 | €57,176 | €62,811 | +€5,635 | +9.9% |
| Amounts payable after more than one year | 17 | €26,600 | €37,543 | +€10,943 | +41.1% |
| Financial debts | 170/4 | €17,005 | €30,253 | +€13,248 | +77.9% |
| Other amounts payable | 178/9 | €9,595 | €7,290 | -€2,305 | -24.0% |
| Amounts payable within one year | 42/48 | €30,576 | €25,268 | -€5,308 | -17.4% |
| Current portion of amounts payable after more than one year | 42 | €21,408 | €15,854 | -€5,554 | -25.9% |
| Financial debts | 43 | €5,000 | €5,000 | = | 0.0% |
| Credit institutions | 430/8 | €5,000 | €5,000 | = | 0.0% |
| Trade debts | 44 | €4,168 | €4,415 | +€246 | +5.9% |
| Suppliers | 440/4 | €4,168 | €4,415 | +€246 | +5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,968 | €20,924 | +€956 | +4.8% |
| Other operating charges | 640/8 | €1,753 | €1,695 | -€57 | -3.3% |
| Gross operating margin | 9900 | €28,520 | €37,040 | +€8,520 | +29.9% |
| Operating profit (loss) | 9901 | €6,799 | €14,421 | +€7,621 | +112% |
| Financial charges | 65/66B | €1,052 | €1,205 | +€154 | +14.6% |
| Recurring financial charges | 65 | €1,052 | €1,205 | +€154 | +14.6% |
| Profit (loss) for the period before taxes | 9903 | €5,748 | €13,215 | +€7,468 | +130% |
| Income taxes | 67/77 | €1,018 | €2,574 | +€1,555 | +153% |
| Profit (loss) for the period | 9904 | €4,729 | €10,641 | +€5,912 | +125% |
| Profit (loss) for the period to be appropriated | 9905 | €4,729 | €10,641 | +€5,912 | +125% |
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 13 October 2026 via checked.be.