LOCKWOOD: 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.
LOCKWOOD
Largest movements
- Stocks and contracts -€191,925
down €191,925 (-27.4%), from €700,486 to €508,561
- Cash -€24,071
down €24,071 (-53.4%), from €45,054 to €20,983
mainly Net result for the year (-€260,673) and Trade debts (-€105,585)
- Receivables within one year +€19,899
up €19,899 (+176%), from €11,292 to €31,191
of which Trade receivables: +€20,421
- Profit (loss) carried forward -€260,673
down €260,673 (-51.6%), from -€504,826 to -€765,499
- Other debts +€237,711
new in 2026: €237,711
- Trade debts -€105,585
down €105,585 (-45.4%), from €232,765 to €127,179
- Tax, wage and social debts -€58,438
down €58,438 (-62.2%), from €93,909 to €35,471
of which Taxes: -€41,718
- Current portion of long-term debt -€12,698
down €12,698 (-55.3%), from €22,974 to €10,277
- Gross operating margin -€171,309
down €171,309 (-69.4%), from €246,783 to €75,474
- Staff costs -€119,204
down €119,204 (-28.7%), from €415,622 to €296,418
- Depreciation -€8,470
down €8,470 (-40.4%), from €20,945 to €12,476
- Financial charges -€5,553
down €5,553 (-25.4%), from €21,892 to €16,339
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €782,704 | €572,744 | -€209,960 | -26.8% |
| Formation expenses | 20 | €8,785 | €5,984 | -€2,801 | -31.9% |
| Fixed assets | 21/28 | €15,700 | €6,025 | -€9,675 | -61.6% |
| Intangible fixed assets | 21 | €9,200 | €2,373 | -€6,827 | -74.2% |
| Tangible fixed assets | 22/27 | €6,500 | €3,653 | -€2,848 | -43.8% |
| Plant, machinery and equipment | 23 | €6,104 | €3,653 | -€2,451 | -40.2% |
| Furniture and vehicles | 24 | €397 | - | -€397 | |
| Current assets | 29/58 | €758,219 | €560,735 | -€197,485 | -26.0% |
| Stocks and contracts in progress | 3 | €700,486 | €508,561 | -€191,925 | -27.4% |
| Stocks | 30/36 | €700,486 | €508,561 | -€191,925 | -27.4% |
| Amounts receivable within one year | 40/41 | €11,292 | €31,191 | +€19,899 | +176% |
| Trade receivables | 40 | €10,536 | €30,956 | +€20,421 | +194% |
| Other amounts receivable | 41 | €756 | €234 | -€522 | -69.0% |
| Cash at bank and in hand | 54/58 | €45,054 | €20,983 | -€24,071 | -53.4% |
| Deferred charges and accrued income | 490/1 | €1,388 | - | -€1,388 | |
| Total equity and liabilities | 10/49 | €782,704 | €572,744 | -€209,960 | -26.8% |
| Equity | 10/15 | -€137,973 | -€398,646 | -€260,673 | -189% |
| Contributions | 10/11 | €350,323 | €350,323 | = | 0.0% |
| Reserves | 13 | €16,530 | €16,530 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,670 | €14,670 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€504,826 | -€765,499 | -€260,673 | -51.6% |
| Amounts payable | 17/49 | €920,677 | €971,390 | +€50,713 | +5.5% |
| Amounts payable after more than one year | 17 | €372,029 | €361,753 | -€10,277 | -2.8% |
| Financial debts | 170/4 | €372,029 | €361,753 | -€10,277 | -2.8% |
| Amounts payable within one year | 42/48 | €548,648 | €609,637 | +€60,989 | +11.1% |
| Current portion of amounts payable after more than one year | 42 | €22,974 | €10,277 | -€12,698 | -55.3% |
| Financial debts | 43 | €199,000 | €199,000 | = | 0.0% |
| Credit institutions | 430/8 | €199,000 | €199,000 | = | 0.0% |
| Trade debts | 44 | €232,765 | €127,179 | -€105,585 | -45.4% |
| Suppliers | 440/4 | €232,765 | €127,179 | -€105,585 | -45.4% |
| Taxes, remuneration and social security | 45 | €93,909 | €35,471 | -€58,438 | -62.2% |
| Taxes | 450/3 | €53,297 | €11,578 | -€41,718 | -78.3% |
| Remuneration and social security | 454/9 | €40,612 | €23,893 | -€16,720 | -41.2% |
| Other amounts payable | 47/48 | - | €237,711 | +€237,711 | |
| Remuneration, social security and pensions | 62 | €415,622 | €296,418 | -€119,204 | -28.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,945 | €12,476 | -€8,470 | -40.4% |
| Other operating charges | 640/8 | €8,347 | €10,560 | +€2,213 | +26.5% |
| Gross operating margin | 9900 | €246,783 | €75,474 | -€171,309 | -69.4% |
| Operating profit (loss) | 9901 | -€198,131 | -€243,980 | -€45,849 | -23.1% |
| Financial charges | 65/66B | €21,892 | €16,339 | -€5,553 | -25.4% |
| Recurring financial charges | 65 | €21,892 | €16,339 | -€5,553 | -25.4% |
| Profit (loss) for the period before taxes | 9903 | -€220,023 | -€260,318 | -€40,296 | -18.3% |
| Income taxes | 67/77 | - | €355 | +€355 | |
| Profit (loss) for the period | 9904 | -€220,023 | -€260,673 | -€40,650 | -18.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€220,023 | -€260,673 | -€40,650 | -18.5% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.