Lummenhorses: 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.
Lummenhorses
Largest movements
- Tangible fixed assets -€25,437
down €25,437 (-19.5%), from €130,218 to €104,781
of which Furniture and vehicles: -€18,388
- Cash -€11,685
down €11,685 (-99.6%), from €11,728 to €43
mainly Net result for the year (-€65,516) and Investment in fixed assets (net) (-€11,194)
- Receivables within one year -€9,601
down €9,601 (-99.6%), from €9,640 to €39
of which Trade receivables: -€9,552
- Profit (loss) carried forward -€65,516
down €65,516 (-58.2%), from -€112,503 to -€178,019
- Other debts +€20,532
up €20,532 (+8.6%), from €238,855 to €259,386
- Trade debts +€16,543
up €16,543 (+6,363%), from €260 to €16,803
- Accrued charges and deferred income -€10,785
no longer reported in 2025 (was €10,785)
- Tax, wage and social debts -€8,577
no longer reported in 2025 (was €8,577)
- Financial charges -€7,721
down €7,721 (-96.3%), from €8,016 to €295
- Depreciation +€4,422
up €4,422 (+13.6%), from €32,532 to €36,954
- Gross operating margin +€1,705
up €1,705 (+5.9%), from -€28,776 to -€27,071
- Other operating charges +€868
up €868 (+265%), from €328 to €1,196
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 | €154,974 | €107,170 | -€47,804 | -30.8% |
| Formation expenses | 20 | €431 | €108 | -€323 | -74.9% |
| Fixed assets | 21/28 | €130,218 | €104,781 | -€25,437 | -19.5% |
| Tangible fixed assets | 22/27 | €130,218 | €104,781 | -€25,437 | -19.5% |
| Land and buildings | 22 | €30,027 | €25,861 | -€4,166 | -13.9% |
| Plant, machinery and equipment | 23 | €50,701 | €47,817 | -€2,884 | -5.7% |
| Furniture and vehicles | 24 | €49,490 | €31,103 | -€18,388 | -37.2% |
| Current assets | 29/58 | €24,325 | €2,282 | -€22,044 | -90.6% |
| Stocks and contracts in progress | 3 | €1,130 | €410 | -€720 | -63.7% |
| Stocks | 30/36 | €1,130 | €410 | -€720 | -63.7% |
| Amounts receivable within one year | 40/41 | €9,640 | €39 | -€9,601 | -99.6% |
| Trade receivables | 40 | €9,552 | - | -€9,552 | |
| Other amounts receivable | 41 | €89 | €39 | -€49 | -55.6% |
| Cash at bank and in hand | 54/58 | €11,728 | €43 | -€11,685 | -99.6% |
| Deferred charges and accrued income | 490/1 | €1,826 | €1,789 | -€37 | -2.0% |
| Total equity and liabilities | 10/49 | €154,974 | €107,170 | -€47,804 | -30.8% |
| Equity | 10/15 | -€103,503 | -€169,019 | -€65,516 | -63.3% |
| Contributions | 10/11 | €9,000 | €9,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€112,503 | -€178,019 | -€65,516 | -58.2% |
| Amounts payable | 17/49 | €258,477 | €276,189 | +€17,712 | +6.9% |
| Amounts payable within one year | 42/48 | €247,692 | €276,189 | +€28,497 | +11.5% |
| Trade debts | 44 | €260 | €16,803 | +€16,543 | +6,363% |
| Suppliers | 440/4 | €260 | €16,803 | +€16,543 | +6,363% |
| Taxes, remuneration and social security | 45 | €8,577 | - | -€8,577 | |
| Taxes | 450/3 | €8,577 | - | -€8,577 | |
| Other amounts payable | 47/48 | €238,855 | €259,386 | +€20,532 | +8.6% |
| Accrued charges and deferred income | 492/3 | €10,785 | - | -€10,785 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,532 | €36,954 | +€4,422 | +13.6% |
| Other operating charges | 640/8 | €328 | €1,196 | +€868 | +265% |
| Gross operating margin | 9900 | -€28,776 | -€27,071 | +€1,705 | +5.9% |
| Operating profit (loss) | 9901 | -€61,637 | -€65,221 | -€3,584 | -5.8% |
| Financial charges | 65/66B | €8,016 | €295 | -€7,721 | -96.3% |
| Recurring financial charges | 65 | €8,016 | €295 | -€7,721 | -96.3% |
| Profit (loss) for the period before taxes | 9903 | -€69,653 | -€65,516 | +€4,137 | +5.9% |
| Profit (loss) for the period | 9904 | -€69,653 | -€65,516 | +€4,137 | +5.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€69,653 | -€65,516 | +€4,137 | +5.9% |
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 30 October 2026 via checked.be.