LIPPENS: 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.
LIPPENS
Largest movements
- Tangible fixed assets -€38,579
down €38,579 (-13.1%), from €295,071 to €256,493
of which Leasing and similar rights: -€29,183
- Receivables within one year +€35,166
up €35,166 (+67.8%), from €51,857 to €87,023
of which Trade receivables: +€34,191
- Stocks and contracts -€8,996
down €8,996 (-10.9%), from €82,868 to €73,872
- Debts after one year -€24,048
down €24,048 (-13.8%), from €174,048 to €150,000
- Trade debts +€17,430
up €17,430 (+25.3%), from €68,861 to €86,291
- Profit (loss) carried forward -€7,906
down €7,906 (-10.9%), from €72,451 to €64,545
- Gross operating margin +€4,385
up €4,385 (+12.9%), from €33,987 to €38,371
- Financial income +€714
up €714 (+827%), from €86 to €800
- Other operating charges +€563
up €563 (+8.1%), from €6,922 to €7,485
- Financial charges -€549
down €549 (-35.2%), from €1,563 to €1,013
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 | €454,225 | €438,155 | -€16,071 | -3.5% |
| Fixed assets | 21/28 | €295,293 | €256,715 | -€38,579 | -13.1% |
| Tangible fixed assets | 22/27 | €295,071 | €256,493 | -€38,579 | -13.1% |
| Land and buildings | 22 | €236,375 | €227,087 | -€9,288 | -3.9% |
| Furniture and vehicles | 24 | €329 | €222 | -€107 | -32.4% |
| Leasing and similar rights | 25 | €58,367 | €29,183 | -€29,183 | -50.0% |
| Financial fixed assets | 28 | €222 | €222 | = | 0.0% |
| Current assets | 29/58 | €158,932 | €181,440 | +€22,508 | +14.2% |
| Stocks and contracts in progress | 3 | €82,868 | €73,872 | -€8,996 | -10.9% |
| Stocks | 30/36 | €82,868 | €73,872 | -€8,996 | -10.9% |
| Amounts receivable within one year | 40/41 | €51,857 | €87,023 | +€35,166 | +67.8% |
| Trade receivables | 40 | €51,857 | €86,048 | +€34,191 | +65.9% |
| Other amounts receivable | 41 | €0 | €975 | +€975 | |
| Cash at bank and in hand | 54/58 | €24,207 | €20,544 | -€3,662 | -15.1% |
| Total equity and liabilities | 10/49 | €454,225 | €438,155 | -€16,071 | -3.5% |
| Equity | 10/15 | €141,592 | €133,687 | -€7,906 | -5.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €50,542 | €50,542 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,943 | €8,943 | = | 0.0% |
| Distributable reserves | 133 | €41,598 | €41,598 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,451 | €64,545 | -€7,906 | -10.9% |
| Amounts payable | 17/49 | €312,633 | €304,468 | -€8,165 | -2.6% |
| Amounts payable after more than one year | 17 | €174,048 | €150,000 | -€24,048 | -13.8% |
| Financial debts | 170/4 | €174,048 | €150,000 | -€24,048 | -13.8% |
| Amounts payable within one year | 42/48 | €138,585 | €154,468 | +€15,883 | +11.5% |
| Current portion of amounts payable after more than one year | 42 | €25,906 | €24,048 | -€1,857 | -7.2% |
| Trade debts | 44 | €68,861 | €86,291 | +€17,430 | +25.3% |
| Suppliers | 440/4 | €68,861 | €86,291 | +€17,430 | +25.3% |
| Taxes, remuneration and social security | 45 | €3,160 | €3,328 | +€169 | +5.3% |
| Taxes | 450/3 | €3,160 | €3,328 | +€169 | +5.3% |
| Other amounts payable | 47/48 | €40,658 | €40,801 | +€142 | +0.3% |
| Non-recurring operating income | 76A | €2,836 | €0 | -€2,836 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,666 | €38,579 | -€87 | -0.2% |
| Other operating charges | 640/8 | €6,922 | €7,485 | +€563 | +8.1% |
| Gross operating margin | 9900 | €33,987 | €38,371 | +€4,385 | +12.9% |
| Operating profit (loss) | 9901 | -€11,601 | -€7,692 | +€3,909 | +33.7% |
| Financial income | 75/76B | €86 | €800 | +€714 | +827% |
| Recurring financial income | 75 | €86 | €800 | +€714 | +827% |
| Financial charges | 65/66B | €1,563 | €1,013 | -€549 | -35.2% |
| Recurring financial charges | 65 | €1,563 | €1,013 | -€549 | -35.2% |
| Profit (loss) for the period before taxes | 9903 | -€13,078 | -€7,906 | +€5,172 | +39.5% |
| Profit (loss) for the period | 9904 | -€13,078 | -€7,906 | +€5,172 | +39.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,078 | -€7,906 | +€5,172 | +39.5% |
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 20 October 2026 via checked.be.