LUNDI: what changed
Two fiscal 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.
LUNDI
Largest movements
- Cash +€16,957
up €16,957 (+30.8%), from €55,082 to €72,038
mainly Provisions (+€25,000) and Net result for the year (+€7,704)
- Receivables within one year +€10,499
up €10,499 (+229.5%), from €4,574 to €15,073
of which Trade receivables: +€6,432
- Stocks and contracts +€2,868
up €2,868 (+6.9%), from €41,345 to €44,213
- Tangible fixed assets -€2,602
down €2,602 (-46.3%), from €5,618 to €3,016
of which Other tangible fixed assets: -€2,091
- Intangible fixed assets -€2,310
down €2,310 (-56.7%), from €4,076 to €1,765
- Provisions +€25,000
new in 2025: €25,000
- Trade debts +€4,759
up €4,759 (+4707.3%), from €101 to €4,860
- Other debts -€4,336
down €4,336 (-11.0%), from €39,440 to €35,104
- Reserves +€2,974
up €2,974 (+54.0%), from €5,513 to €8,487
of which Distributable reserves: +€3,756
- Investment grants -€1,390
down €1,390 (-53.9%), from €2,580 to €1,190
- Provisions +€25,000
new in 2025: €25,000
- Gross operating margin +€20,022
up €20,022 (+36.1%), from €55,539 to €75,561
- Staff costs +€4,542
up €4,542 (+18.8%), from €24,110 to €28,651
- Financial charges +€1,467
up €1,467 (+64.1%), from €2,287 to €3,754
- Taxes -€970
down €970 (-18.2%), from €5,341 to €4,371
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.
Cash bridge derived
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 | €111,399 | €136,762 | +€25,362 | +22.8% |
| Fixed assets | 21/28 | €9,794 | €4,882 | -€4,912 | -50.2% |
| Intangible fixed assets | 21 | €4,076 | €1,765 | -€2,310 | -56.7% |
| Tangible fixed assets | 22/27 | €5,618 | €3,016 | -€2,602 | -46.3% |
| Plant, machinery and equipment | 23 | €1,088 | €868 | -€220 | -20.2% |
| Furniture and vehicles | 24 | €1,402 | €1,112 | -€291 | -20.7% |
| Other tangible fixed assets | 26 | €3,128 | €1,037 | -€2,091 | -66.8% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €101,606 | €131,880 | +€30,274 | +29.8% |
| Stocks and contracts in progress | 3 | €41,345 | €44,213 | +€2,868 | +6.9% |
| Stocks | 30/36 | €41,345 | €44,213 | +€2,868 | +6.9% |
| Amounts receivable within one year | 40/41 | €4,574 | €15,073 | +€10,499 | +229.5% |
| Trade receivables | 40 | €3,192 | €9,624 | +€6,432 | +201.5% |
| Other amounts receivable | 41 | €1,382 | €5,449 | +€4,067 | +294.2% |
| Cash at bank and in hand | 54/58 | €55,082 | €72,038 | +€16,957 | +30.8% |
| Deferred charges and accrued income | 490/1 | €605 | €556 | -€49 | -8.1% |
| Total equity and liabilities | 10/49 | €111,399 | €136,762 | +€25,362 | +22.8% |
| Equity | 10/15 | €52,913 | €54,497 | +€1,584 | +3.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €5,513 | €8,487 | +€2,974 | +54.0% |
| Non-distributable reserves | 130/1 | €782 | €0 | -€782 | -100.0% |
| Reserves not available under the articles | 1311 | €782 | €0 | -€782 | -100.0% |
| Distributable reserves | 133 | €4,730 | €8,487 | +€3,756 | +79.4% |
| Profit (loss) carried forward | 14 | €26,221 | €26,221 | = | 0.0% |
| Investment grants | 15 | €2,580 | €1,190 | -€1,390 | -53.9% |
| Provisions and deferred taxes | 16 | - | €25,000 | +€25,000 | |
| Provisions for liabilities and charges | 160/5 | - | €25,000 | +€25,000 | |
| Other liabilities and charges | 164/5 | - | €25,000 | +€25,000 | |
| Amounts payable | 17/49 | €58,486 | €57,265 | -€1,222 | -2.1% |
| Amounts payable within one year | 42/48 | €58,448 | €57,213 | -€1,235 | -2.1% |
| Financial debts | 43 | €864 | €305 | -€559 | -64.7% |
| Credit institutions | 430/8 | €864 | €0 | -€864 | -100.0% |
| Other loans | 439 | - | €305 | +€305 | |
| Trade debts | 44 | €101 | €4,860 | +€4,759 | +4707.3% |
| Suppliers | 440/4 | €101 | €4,860 | +€4,759 | +4707.3% |
| Advances received on contracts in progress | 46 | €667 | €692 | +€25 | +3.8% |
| Taxes, remuneration and social security | 45 | €17,376 | €16,252 | -€1,124 | -6.5% |
| Taxes | 450/3 | €11,172 | €6,720 | -€4,452 | -39.8% |
| Remuneration and social security | 454/9 | €6,204 | €9,532 | +€3,328 | +53.6% |
| Other amounts payable | 47/48 | €39,440 | €35,104 | -€4,336 | -11.0% |
| Accrued charges and deferred income | 492/3 | €38 | €52 | +€14 | +36.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €24,110 | €28,651 | +€4,542 | +18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,978 | €5,820 | -€158 | -2.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €25,000 | +€25,000 | |
| Other operating charges | 640/8 | €816 | €1,676 | +€860 | +105.3% |
| Non-recurring operating charges | 66A | €86 | €0 | -€86 | -100.0% |
| Gross operating margin | 9900 | €55,539 | €75,561 | +€20,022 | +36.1% |
| Operating profit (loss) | 9901 | €24,549 | €14,413 | -€10,135 | -41.3% |
| Financial income | 75/76B | €1,411 | €1,416 | +€5 | +0.4% |
| Recurring financial income | 75 | €1,411 | €1,416 | +€5 | +0.4% |
| Financial charges | 65/66B | €2,287 | €3,754 | +€1,467 | +64.1% |
| Recurring financial charges | 65 | €2,287 | €3,754 | +€1,467 | +64.1% |
| Profit (loss) for the period before taxes | 9903 | €23,672 | €12,075 | -€11,597 | -49.0% |
| Income taxes | 67/77 | €5,341 | €4,371 | -€970 | -18.2% |
| Profit (loss) for the period | 9904 | €18,331 | €7,704 | -€10,626 | -58.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,331 | €7,704 | -€10,626 | -58.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.