LORENZ MAES: 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.
LORENZ MAES
Largest movements
- Cash -€22,292
down €22,292 (-37.8%), from €58,949 to €36,658
mainly Contributions, distributions and other (-€56,673) and Debts after one year (-€4,862)
- Tangible fixed assets -€10,069
down €10,069 (-46.3%), from €21,728 to €11,659
of which Furniture and vehicles: -€5,683
- Receivables within one year +€4,806
up €4,806 (+851%), from €565 to €5,371
of which Trade receivables: +€3,833
- Stocks and contracts +€1,500
up €1,500 (+37.5%), from €4,000 to €5,500
- Reserves -€19,621
down €19,621 (-34.6%), from €56,673 to €37,052
- Debts after one year -€4,862
down €4,862 (-61.6%), from €7,898 to €3,036
- Current portion of long-term debt -€2,445
down €2,445 (-33.5%), from €7,307 to €4,862
- Trade debts +€957
up €957 (+66.2%), from €1,444 to €2,401
- Gross operating margin +€5,228
up €5,228 (+9.3%), from €56,256 to €61,485
- Taxes +€847
up €847 (+8.2%), from €10,329 to €11,176
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 | €86,783 | €60,232 | -€26,550 | -30.6% |
| Formation expenses | 20 | €608 | €184 | -€424 | -69.7% |
| Fixed assets | 21/28 | €21,728 | €11,659 | -€10,069 | -46.3% |
| Tangible fixed assets | 22/27 | €21,728 | €11,659 | -€10,069 | -46.3% |
| Land and buildings | 22 | €698 | €421 | -€278 | -39.8% |
| Plant, machinery and equipment | 23 | €789 | €1,456 | +€667 | +84.5% |
| Furniture and vehicles | 24 | €8,507 | €2,823 | -€5,683 | -66.8% |
| Leasing and similar rights | 25 | €11,734 | €6,959 | -€4,775 | -40.7% |
| Current assets | 29/58 | €64,447 | €48,389 | -€16,058 | -24.9% |
| Stocks and contracts in progress | 3 | €4,000 | €5,500 | +€1,500 | +37.5% |
| Stocks | 30/36 | €4,000 | €5,500 | +€1,500 | +37.5% |
| Amounts receivable within one year | 40/41 | €565 | €5,371 | +€4,806 | +851% |
| Trade receivables | 40 | €500 | €4,333 | +€3,833 | +767% |
| Other amounts receivable | 41 | €65 | €1,038 | +€973 | +1,497% |
| Cash at bank and in hand | 54/58 | €58,949 | €36,658 | -€22,292 | -37.8% |
| Deferred charges and accrued income | 490/1 | €932 | €861 | -€72 | -7.7% |
| Total equity and liabilities | 10/49 | €86,783 | €60,232 | -€26,550 | -30.6% |
| Equity | 10/15 | €59,173 | €39,552 | -€19,621 | -33.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €56,673 | €37,052 | -€19,621 | -34.6% |
| Distributable reserves | 133 | €56,673 | €37,052 | -€19,621 | -34.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €27,609 | €20,680 | -€6,929 | -25.1% |
| Amounts payable after more than one year | 17 | €7,898 | €3,036 | -€4,862 | -61.6% |
| Financial debts | 170/4 | €7,898 | €3,036 | -€4,862 | -61.6% |
| Amounts payable within one year | 42/48 | €19,711 | €17,462 | -€2,249 | -11.4% |
| Current portion of amounts payable after more than one year | 42 | €7,307 | €4,862 | -€2,445 | -33.5% |
| Trade debts | 44 | €1,444 | €2,401 | +€957 | +66.2% |
| Suppliers | 440/4 | €1,444 | €2,401 | +€957 | +66.2% |
| Taxes, remuneration and social security | 45 | €1,829 | €1,829 | = | 0.0% |
| Taxes | 450/3 | €1,829 | €1,829 | = | 0.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €9,132 | €8,371 | -€760 | -8.3% |
| Accrued charges and deferred income | 492/3 | - | €181 | +€181 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,896 | €11,748 | -€148 | -1.2% |
| Other operating charges | 640/8 | €1,439 | €1,159 | -€280 | -19.5% |
| Gross operating margin | 9900 | €56,256 | €61,485 | +€5,228 | +9.3% |
| Operating profit (loss) | 9901 | €42,921 | €48,578 | +€5,657 | +13.2% |
| Financial income | 75/76B | €30 | €159 | +€129 | +424% |
| Recurring financial income | 75 | €30 | €159 | +€129 | +424% |
| Financial charges | 65/66B | €818 | €509 | -€309 | -37.7% |
| Recurring financial charges | 65 | €818 | €509 | -€309 | -37.7% |
| Profit (loss) for the period before taxes | 9903 | €42,134 | €48,228 | +€6,094 | +14.5% |
| Income taxes | 67/77 | €10,329 | €11,176 | +€847 | +8.2% |
| Profit (loss) for the period | 9904 | €31,805 | €37,052 | +€5,248 | +16.5% |
| Profit (loss) for the period to be appropriated | 9905 | €31,805 | €37,052 | +€5,248 | +16.5% |
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 21 October 2026 via checked.be.