Lorenzo Management: 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.
Lorenzo Management
Largest movements
- Receivables within one year +€45,323
up €45,323 (+153%), from €29,645 to €74,968
of which Trade receivables: +€44,129
- Deferred charges and accrued income -€6,016
down €6,016 (-41.9%), from €14,363 to €8,348
- Tangible fixed assets -€2,869
down €2,869 (-100%), from €2,869 to €0
- Cash -€2,829
down €2,829 (-6.6%), from €43,001 to €40,172
mainly Contributions, distributions and other (-€61,978) and Receivables within one year (-€45,323)
- Other debts +€65,022
up €65,022 (+5,197%), from €1,251 to €66,273
- Reserves -€26,588
down €26,588 (-44.2%), from €60,180 to €33,592
- Accrued charges and deferred income -€3,624
down €3,624 (-42.6%), from €8,512 to €4,888
- Tax, wage and social debts -€1,425
down €1,425 (-8.5%), from €16,705 to €15,280
of which Taxes: -€1,425
- Gross operating margin +€32,558
up €32,558 (+168%), from €19,436 to €51,994
- Taxes +€9,308
up €9,308 (+373%), from €2,497 to €11,806
- Depreciation -€2,483
down €2,483 (-46.4%), from €5,352 to €2,869
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 | €89,879 | €123,488 | +€33,609 | +37.4% |
| Fixed assets | 21/28 | €2,869 | €0 | -€2,869 | -100% |
| Tangible fixed assets | 22/27 | €2,869 | €0 | -€2,869 | -100% |
| Furniture and vehicles | 24 | €2,869 | €0 | -€2,869 | -100% |
| Current assets | 29/58 | €87,010 | €123,488 | +€36,479 | +41.9% |
| Amounts receivable within one year | 40/41 | €29,645 | €74,968 | +€45,323 | +153% |
| Trade receivables | 40 | €29,143 | €73,271 | +€44,129 | +151% |
| Other amounts receivable | 41 | €503 | €1,697 | +€1,194 | +238% |
| Cash at bank and in hand | 54/58 | €43,001 | €40,172 | -€2,829 | -6.6% |
| Deferred charges and accrued income | 490/1 | €14,363 | €8,348 | -€6,016 | -41.9% |
| Total equity and liabilities | 10/49 | €89,879 | €123,488 | +€33,609 | +37.4% |
| Equity | 10/15 | €62,180 | €35,592 | -€26,588 | -42.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €60,180 | €33,592 | -€26,588 | -44.2% |
| Distributable reserves | 133 | €60,180 | €33,592 | -€26,588 | -44.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €27,699 | €87,896 | +€60,197 | +217% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €19,186 | €83,008 | +€63,822 | +333% |
| Current portion of amounts payable after more than one year | 42 | €920 | €0 | -€920 | -100% |
| Trade debts | 44 | €310 | €1,455 | +€1,145 | +369% |
| Suppliers | 440/4 | €310 | €1,455 | +€1,145 | +369% |
| Taxes, remuneration and social security | 45 | €16,705 | €15,280 | -€1,425 | -8.5% |
| Taxes | 450/3 | €16,705 | €15,280 | -€1,425 | -8.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,251 | €66,273 | +€65,022 | +5,197% |
| Accrued charges and deferred income | 492/3 | €8,512 | €4,888 | -€3,624 | -42.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,352 | €2,869 | -€2,483 | -46.4% |
| Other operating charges | 640/8 | €930 | €1,158 | +€228 | +24.5% |
| Gross operating margin | 9900 | €19,436 | €51,994 | +€32,558 | +168% |
| Operating profit (loss) | 9901 | €13,154 | €47,966 | +€34,812 | +265% |
| Financial income | 75/76B | €0 | €2 | +€2 | |
| Recurring financial income | 75 | €0 | €2 | +€2 | |
| Financial charges | 65/66B | €273 | €773 | +€500 | +183% |
| Recurring financial charges | 65 | €273 | €773 | +€500 | +183% |
| Profit (loss) for the period before taxes | 9903 | €12,881 | €47,195 | +€34,315 | +266% |
| Income taxes | 67/77 | €2,497 | €11,806 | +€9,308 | +373% |
| Profit (loss) for the period | 9904 | €10,383 | €35,390 | +€25,006 | +241% |
| Profit (loss) for the period to be appropriated | 9905 | €10,383 | €35,390 | +€25,006 | +241% |
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 26 October 2026 via checked.be.