Lore Naudts: 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.
Lore Naudts
Largest movements
- Tangible fixed assets -€10,393
down €10,393 (-28.9%), from €35,928 to €25,535
- Cash +€5,482
up €5,482 (+67.4%), from €8,129 to €13,611
mainly Net result for the year (+€11,196) and Depreciation (+€9,151)
- Receivables within one year +€3,534
up €3,534 (+49.7%), from €7,112 to €10,646
of which Trade receivables: +€3,534
- Reserves +€11,000
up €11,000, from €0 to €11,000
- Debts after one year -€10,231
down €10,231 (-45.8%), from €22,319 to €12,088
- Current portion of long-term debt -€2,649
down €2,649 (-20.6%), from €12,880 to €10,231
- Gross operating margin +€30,528
up €30,528, from -€7,202 to €23,326
- Other operating charges +€1,631
up €1,631 (+225%), from €725 to €2,356
- Depreciation -€404
down €404 (-4.2%), from €9,555 to €9,151
- Financial charges -€236
down €236 (-32.8%), from €718 to €482
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 | €51,429 | €50,073 | -€1,356 | -2.6% |
| Fixed assets | 21/28 | €35,928 | €25,535 | -€10,393 | -28.9% |
| Tangible fixed assets | 22/27 | €35,928 | €25,535 | -€10,393 | -28.9% |
| Furniture and vehicles | 24 | €35,928 | €25,535 | -€10,393 | -28.9% |
| Current assets | 29/58 | €15,501 | €24,538 | +€9,037 | +58.3% |
| Amounts receivable within one year | 40/41 | €7,112 | €10,646 | +€3,534 | +49.7% |
| Trade receivables | 40 | €7,112 | €10,646 | +€3,534 | +49.7% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €8,129 | €13,611 | +€5,482 | +67.4% |
| Deferred charges and accrued income | 490/1 | €261 | €282 | +€21 | +7.9% |
| Total equity and liabilities | 10/49 | €51,429 | €50,073 | -€1,356 | -2.6% |
| Equity | 10/15 | €273 | €11,469 | +€11,196 | +4,105% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €0 | €11,000 | +€11,000 | |
| Distributable reserves | 133 | €0 | €11,000 | +€11,000 | |
| Profit (loss) carried forward | 14 | -€4,727 | -€4,532 | +€196 | +4.1% |
| Amounts payable | 17/49 | €51,157 | €38,605 | -€12,552 | -24.5% |
| Amounts payable after more than one year | 17 | €22,319 | €12,088 | -€10,231 | -45.8% |
| Financial debts | 170/4 | €22,319 | €12,088 | -€10,231 | -45.8% |
| Amounts payable within one year | 42/48 | €28,837 | €26,517 | -€2,321 | -8.0% |
| Current portion of amounts payable after more than one year | 42 | €12,880 | €10,231 | -€2,649 | -20.6% |
| Trade debts | 44 | €1,069 | €887 | -€183 | -17.1% |
| Suppliers | 440/4 | €1,069 | €887 | -€183 | -17.1% |
| Taxes, remuneration and social security | 45 | €136 | €141 | +€5 | +3.9% |
| Taxes | 450/3 | €136 | €141 | +€5 | +3.9% |
| Other amounts payable | 47/48 | €14,752 | €15,257 | +€505 | +3.4% |
| Non-recurring operating income | 76A | €4,099 | €0 | -€4,099 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,555 | €9,151 | -€404 | -4.2% |
| Other operating charges | 640/8 | €725 | €2,356 | +€1,631 | +225% |
| Gross operating margin | 9900 | -€7,202 | €23,326 | +€30,528 | |
| Operating profit (loss) | 9901 | -€17,482 | €11,820 | +€29,302 | |
| Financial income | 75/76B | €0 | €0 | +€0 | +180% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +180% |
| Financial charges | 65/66B | €718 | €482 | -€236 | -32.8% |
| Recurring financial charges | 65 | €718 | €482 | -€236 | -32.8% |
| Profit (loss) for the period before taxes | 9903 | -€18,200 | €11,337 | +€29,537 | |
| Income taxes | 67/77 | €136 | €141 | +€5 | +3.9% |
| Profit (loss) for the period | 9904 | -€18,336 | €11,196 | +€29,532 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,336 | €11,196 | +€29,532 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.