LUCIA HENIN: 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.
LUCIA HENIN
Largest movements
- Current investments +€96,417
up €96,417 (+24.9%), from €387,819 to €484,236
- Cash +€9,845
up €9,845 (+87.8%), from €11,217 to €21,062
mainly Net result for the year (+€99,162) and Other debts (+€10,493)
- Tangible fixed assets +€8,841
up €8,841 (+28.4%), from €31,178 to €40,019
of which Furniture and vehicles: +€6,219
- Reserves +€99,162
up €99,162 (+13.1%), from €759,106 to €858,269
- Other debts +€10,493
up €10,493 (+188%), from €5,568 to €16,061
- Financial charges -€49,709
down €49,709 (-98.4%), from €50,540 to €831
- Gross operating margin -€39,099
down €39,099 (-22.0%), from €177,994 to €138,894
- Financial income +€4,579
up €4,579 (+75.7%), from €6,047 to €10,626
- Taxes +€4,001
up €4,001 (+10.9%), from €36,775 to €40,776
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 | €775,581 | €882,835 | +€107,254 | +13.8% |
| Fixed assets | 21/28 | €31,178 | €40,019 | +€8,841 | +28.4% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €31,178 | €40,019 | +€8,841 | +28.4% |
| Land and buildings | 22 | €3,914 | €3,165 | -€749 | -19.1% |
| Plant, machinery and equipment | 23 | €18,765 | €22,135 | +€3,371 | +18.0% |
| Furniture and vehicles | 24 | €8,500 | €14,719 | +€6,219 | +73.2% |
| Current assets | 29/58 | €744,402 | €842,816 | +€98,414 | +13.2% |
| Amounts receivable within one year | 40/41 | €345,241 | €336,649 | -€8,592 | -2.5% |
| Trade receivables | 40 | €16,025 | €14,124 | -€1,901 | -11.9% |
| Other amounts receivable | 41 | €329,216 | €322,526 | -€6,691 | -2.0% |
| Current investments | 50/53 | €387,819 | €484,236 | +€96,417 | +24.9% |
| Cash at bank and in hand | 54/58 | €11,217 | €21,062 | +€9,845 | +87.8% |
| Deferred charges and accrued income | 490/1 | €125 | €868 | +€743 | +594% |
| Total equity and liabilities | 10/49 | €775,581 | €882,835 | +€107,254 | +13.8% |
| Equity | 10/15 | €759,106 | €858,269 | +€99,162 | +13.1% |
| Reserves | 13 | €759,106 | €858,269 | +€99,162 | +13.1% |
| Distributable reserves | 133 | €759,106 | €858,269 | +€99,162 | +13.1% |
| Amounts payable | 17/49 | €16,474 | €24,566 | +€8,092 | +49.1% |
| Amounts payable within one year | 42/48 | €16,474 | €24,566 | +€8,092 | +49.1% |
| Trade debts | 44 | €4,778 | €1,600 | -€3,178 | -66.5% |
| Suppliers | 440/4 | €4,778 | €1,600 | -€3,178 | -66.5% |
| Taxes, remuneration and social security | 45 | €6,128 | €6,905 | +€777 | +12.7% |
| Taxes | 450/3 | €6,128 | €6,905 | +€777 | +12.7% |
| Remuneration and social security | 454/9 | €0 | €0 | -€0 | -100% |
| Other amounts payable | 47/48 | €5,568 | €16,061 | +€10,493 | +188% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,319 | €8,521 | +€1,201 | +16.4% |
| Other operating charges | 640/8 | €182 | €231 | +€49 | +26.9% |
| Gross operating margin | 9900 | €177,994 | €138,894 | -€39,099 | -22.0% |
| Operating profit (loss) | 9901 | €170,493 | €130,143 | -€40,350 | -23.7% |
| Financial income | 75/76B | €6,047 | €10,626 | +€4,579 | +75.7% |
| Recurring financial income | 75 | €6,047 | €10,626 | +€4,579 | +75.7% |
| Financial charges | 65/66B | €50,540 | €831 | -€49,709 | -98.4% |
| Recurring financial charges | 65 | €50,540 | €831 | -€49,709 | -98.4% |
| Profit (loss) for the period before taxes | 9903 | €126,000 | €139,938 | +€13,939 | +11.1% |
| Income taxes | 67/77 | €36,775 | €40,776 | +€4,001 | +10.9% |
| Profit (loss) for the period | 9904 | €89,225 | €99,162 | +€9,938 | +11.1% |
| Profit (loss) for the period to be appropriated | 9905 | €89,225 | €99,162 | +€9,938 | +11.1% |
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 1 November 2026 via checked.be.