LNRE: 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.
LNRE
Largest movements
- Cash +€35,618
up €35,618 (+51.5%), from €69,133 to €104,750
mainly Net result for the year (+€41,689) and Other debts (+€30,368)
- Current investments +€20,000
up €20,000 (+6.7%), from €300,000 to €320,000
- Tangible fixed assets -€16,149
down €16,149 (-3.6%), from €444,117 to €427,968
of which Land and buildings: -€14,756
- Other debts +€30,368
new in 2025: €30,368
- Reserves +€10,632
up €10,632 (+14.2%), from €74,884 to €85,516
of which Distributable reserves: +€10,632
- Depreciation -€21,970
down €21,970 (-57.6%), from €38,119 to €16,149
- Gross operating margin -€12,735
down €12,735 (-9.7%), from €131,844 to €119,109
- Taxes +€11,871
up €11,871 (+297%), from €4,000 to €15,871
- Financial charges -€3,034
down €3,034 (-11.3%), from €26,936 to €23,902
- Financial income +€2,468
up €2,468 (+54.7%), from €4,512 to €6,980
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 | €816,446 | €857,031 | +€40,585 | +5.0% |
| Fixed assets | 21/28 | €444,117 | €427,968 | -€16,149 | -3.6% |
| Tangible fixed assets | 22/27 | €444,117 | €427,968 | -€16,149 | -3.6% |
| Land and buildings | 22 | €440,274 | €425,518 | -€14,756 | -3.4% |
| Furniture and vehicles | 24 | €3,843 | €2,450 | -€1,393 | -36.3% |
| Current assets | 29/58 | €372,329 | €429,064 | +€56,735 | +15.2% |
| Current investments | 50/53 | €300,000 | €320,000 | +€20,000 | +6.7% |
| Cash at bank and in hand | 54/58 | €69,133 | €104,750 | +€35,618 | +51.5% |
| Deferred charges and accrued income | 490/1 | €3,196 | €4,313 | +€1,117 | +34.9% |
| Total equity and liabilities | 10/49 | €816,446 | €857,031 | +€40,585 | +5.0% |
| Equity | 10/15 | €479,300 | €490,621 | +€11,321 | +2.4% |
| Contributions | 10/11 | €323,087 | €323,087 | = | 0.0% |
| Reserves | 13 | €74,884 | €85,516 | +€10,632 | +14.2% |
| Non-distributable reserves | 130/1 | €4,516 | €4,516 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,516 | €4,516 | = | 0.0% |
| Distributable reserves | 133 | €70,368 | €81,000 | +€10,632 | +15.1% |
| Profit (loss) carried forward | 14 | €81,328 | €82,018 | +€689 | +0.8% |
| Amounts payable | 17/49 | €337,146 | €366,411 | +€29,264 | +8.7% |
| Amounts payable after more than one year | 17 | €334,500 | €334,500 | = | 0.0% |
| Financial debts | 170/4 | €334,500 | €334,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,646 | €31,911 | +€29,264 | +1,106% |
| Trade debts | 44 | - | €266 | +€266 | |
| Suppliers | 440/4 | - | €266 | +€266 | |
| Taxes, remuneration and social security | 45 | €2,646 | €1,277 | -€1,370 | -51.8% |
| Taxes | 450/3 | €2,646 | €1,277 | -€1,370 | -51.8% |
| Other amounts payable | 47/48 | - | €30,368 | +€30,368 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,119 | €16,149 | -€21,970 | -57.6% |
| Other operating charges | 640/8 | €26,794 | €28,478 | +€1,683 | +6.3% |
| Gross operating margin | 9900 | €131,844 | €119,109 | -€12,735 | -9.7% |
| Operating profit (loss) | 9901 | €66,931 | €74,482 | +€7,552 | +11.3% |
| Financial income | 75/76B | €4,512 | €6,980 | +€2,468 | +54.7% |
| Recurring financial income | 75 | €4,512 | €6,980 | +€2,468 | +54.7% |
| Financial charges | 65/66B | €26,936 | €23,902 | -€3,034 | -11.3% |
| Recurring financial charges | 65 | €26,936 | €23,902 | -€3,034 | -11.3% |
| Profit (loss) for the period before taxes | 9903 | €44,506 | €57,560 | +€13,054 | +29.3% |
| Income taxes | 67/77 | €4,000 | €15,871 | +€11,871 | +297% |
| Profit (loss) for the period | 9904 | €40,506 | €41,689 | +€1,183 | +2.9% |
| Profit (loss) for the period to be appropriated | 9905 | €40,506 | €41,689 | +€1,183 | +2.9% |
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 16 October 2026 via checked.be.