Make Lemonade: what changed
Make Lemonade
Largest movements
- Receivables within one year +€12,672
up €12,672 (+42.2%), from €30,050 to €42,722
of which Trade receivables: +€12,672
- Cash -€11,431
down €11,431 (-94.8%), from €12,058 to €627
mainly Debts after one year (-€23,917) and Receivables within one year (-€12,672)
- Intangible fixed assets -€9,438
down €9,438 (-16.7%), from €56,630 to €47,191
- Tangible fixed assets -€2,931
down €2,931 (-10.1%), from €28,926 to €25,995
of which Other tangible fixed assets: -€2,745
- Debts after one year -€23,917
down €23,917 (-16.0%), from €149,450 to €125,533
- Other debts +€8,634
up €8,634 (+15.0%), from €57,690 to €66,325
- Tax, wage and social debts +€6,778
up €6,778 (+237%), from €2,857 to €9,635
of which Remuneration and social security: +€4,000
- Profit (loss) carried forward -€2,460
down €2,460 (-0.7%), from -€367,792 to -€370,252
- Trade debts -€2,440
down €2,440 (-7.8%), from €31,311 to €28,871
- Gross operating margin -€11,700
down €11,700 (-32.3%), from €36,265 to €24,565
- Staff costs +€1,860
up €1,860 (+480%), from €387 to €2,247
- Depreciation -€988
down €988 (-6.2%), from €15,858 to €14,869
- Financial charges -€932
down €932 (-9.8%), from €9,490 to €8,558
- Other operating charges -€482
down €482 (-26.3%), from €1,832 to €1,351
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €132,871 | €122,640 | -€10,232 | -7.7% |
| Fixed assets | 21/28 | €90,356 | €77,987 | -€12,369 | -13.7% |
| Intangible fixed assets | 21 | €56,630 | €47,191 | -€9,438 | -16.7% |
| Tangible fixed assets | 22/27 | €28,926 | €25,995 | -€2,931 | -10.1% |
| Plant, machinery and equipment | 23 | €1,454 | €890 | -€564 | -38.8% |
| Furniture and vehicles | 24 | €5,245 | €5,624 | +€378 | +7.2% |
| Other tangible fixed assets | 26 | €22,226 | €19,482 | -€2,745 | -12.3% |
| Financial fixed assets | 28 | €4,800 | €4,800 | = | 0.0% |
| Current assets | 29/58 | €42,516 | €44,653 | +€2,138 | +5.0% |
| Amounts receivable within one year | 40/41 | €30,050 | €42,722 | +€12,672 | +42.2% |
| Trade receivables | 40 | €27,425 | €40,097 | +€12,672 | +46.2% |
| Other amounts receivable | 41 | €2,626 | €2,626 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €12,058 | €627 | -€11,431 | -94.8% |
| Deferred charges and accrued income | 490/1 | €408 | €1,304 | +€896 | +220% |
| Total equity and liabilities | 10/49 | €132,871 | €122,640 | -€10,232 | -7.7% |
| Equity | 10/15 | -€131,297 | -€133,756 | -€2,460 | -1.9% |
| Contributions | 10/11 | €7,200 | €7,200 | = | 0.0% |
| Reserves | 13 | €229,295 | €229,295 | = | 0.0% |
| Distributable reserves | 133 | €229,295 | €229,295 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€367,792 | -€370,252 | -€2,460 | -0.7% |
| Amounts payable | 17/49 | €264,168 | €256,396 | -€7,772 | -2.9% |
| Amounts payable after more than one year | 17 | €149,450 | €125,533 | -€23,917 | -16.0% |
| Financial debts | 170/4 | €149,450 | €125,533 | -€23,917 | -16.0% |
| Amounts payable within one year | 42/48 | €114,694 | €129,647 | +€14,953 | +13.0% |
| Current portion of amounts payable after more than one year | 42 | €22,836 | €23,917 | +€1,081 | +4.7% |
| Trade debts | 44 | €31,311 | €28,871 | -€2,440 | -7.8% |
| Suppliers | 440/4 | €31,311 | €28,871 | -€2,440 | -7.8% |
| Advances received on contracts in progress | 46 | - | €899 | +€899 | |
| Taxes, remuneration and social security | 45 | €2,857 | €9,635 | +€6,778 | +237% |
| Taxes | 450/3 | €2,857 | €5,635 | +€2,778 | +97.2% |
| Remuneration and social security | 454/9 | - | €4,000 | +€4,000 | |
| Other amounts payable | 47/48 | €57,690 | €66,325 | +€8,634 | +15.0% |
| Accrued charges and deferred income | 492/3 | €24 | €1,216 | +€1,192 | +4,877% |
| Remuneration, social security and pensions | 62 | €387 | €2,247 | +€1,860 | +480% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,858 | €14,869 | -€988 | -6.2% |
| Other operating charges | 640/8 | €1,832 | €1,351 | -€482 | -26.3% |
| Gross operating margin | 9900 | €36,265 | €24,565 | -€11,700 | -32.3% |
| Operating profit (loss) | 9901 | €18,187 | €6,098 | -€12,090 | -66.5% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €9,490 | €8,558 | -€932 | -9.8% |
| Recurring financial charges | 65 | €9,490 | €8,558 | -€932 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | €8,698 | -€2,460 | -€11,158 | |
| Profit (loss) for the period | 9904 | €8,698 | -€2,460 | -€11,158 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,698 | -€2,460 | -€11,158 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.