MARC LANNOY: 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.
MARC LANNOY
Largest movements
- Receivables within one year +€35,199
up €35,199 (+29.9%), from €117,785 to €152,985
of which Other amounts receivable: +€35,745
- Receivables after one year -€11,290
down €11,290 (-32.4%), from €34,892 to €23,602
- Cash -€8,338
down €8,338 (-26.2%), from €31,836 to €23,498
mainly Receivables within one year (-€35,199) and Debts after one year (-€17,428)
- Tangible fixed assets -€7,230
down €7,230 (-12.6%), from €57,549 to €50,319
of which Plant, machinery and equipment: -€7,403
- Debts after one year -€17,428
down €17,428 (-27.7%), from €62,959 to €45,532
- Reserves +€15,000
up €15,000 (+806%), from €1,860 to €16,860
of which Distributable reserves: +€15,000
- Trade debts +€6,556
up €6,556 (+141%), from €4,660 to €11,216
- Profit (loss) carried forward +€2,744
up €2,744 (+2.1%), from €130,601 to €133,345
- Gross operating margin -€17,390
down €17,390 (-28.1%), from €61,906 to €44,516
- Taxes +€4,792
up €4,792 (+141%), from €3,397 to €8,189
- Depreciation -€1,690
down €1,690 (-8.4%), from €20,166 to €18,477
- Financial charges -€817
down €817 (-15.4%), from €5,293 to €4,476
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 | €250,770 | €257,142 | +€6,372 | +2.5% |
| Fixed assets | 21/28 | €57,591 | €50,361 | -€7,230 | -12.6% |
| Tangible fixed assets | 22/27 | €57,549 | €50,319 | -€7,230 | -12.6% |
| Plant, machinery and equipment | 23 | €29,641 | €22,237 | -€7,403 | -25.0% |
| Furniture and vehicles | 24 | €25,347 | €26,310 | +€963 | +3.8% |
| Other tangible fixed assets | 26 | €2,560 | €1,771 | -€789 | -30.8% |
| Financial fixed assets | 28 | €42 | €42 | = | 0.0% |
| Current assets | 29/58 | €193,180 | €206,781 | +€13,602 | +7.0% |
| Amounts receivable after more than one year | 29 | €34,892 | €23,602 | -€11,290 | -32.4% |
| Other amounts receivable | 291 | €34,892 | €23,602 | -€11,290 | -32.4% |
| Amounts receivable within one year | 40/41 | €117,785 | €152,985 | +€35,199 | +29.9% |
| Trade receivables | 40 | €4,743 | €4,198 | -€545 | -11.5% |
| Other amounts receivable | 41 | €113,042 | €148,787 | +€35,745 | +31.6% |
| Cash at bank and in hand | 54/58 | €31,836 | €23,498 | -€8,338 | -26.2% |
| Deferred charges and accrued income | 490/1 | €8,666 | €6,696 | -€1,970 | -22.7% |
| Total equity and liabilities | 10/49 | €250,770 | €257,142 | +€6,372 | +2.5% |
| Equity | 10/15 | €151,061 | €168,805 | +€17,744 | +11.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €16,860 | +€15,000 | +806% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | - | €15,000 | +€15,000 | |
| Profit (loss) carried forward | 14 | €130,601 | €133,345 | +€2,744 | +2.1% |
| Amounts payable | 17/49 | €99,709 | €88,337 | -€11,372 | -11.4% |
| Amounts payable after more than one year | 17 | €62,959 | €45,532 | -€17,428 | -27.7% |
| Financial debts | 170/4 | €62,959 | €45,532 | -€17,428 | -27.7% |
| Amounts payable within one year | 42/48 | €32,622 | €38,077 | +€5,454 | +16.7% |
| Current portion of amounts payable after more than one year | 42 | €22,012 | €21,060 | -€952 | -4.3% |
| Financial debts | 43 | €83 | - | -€83 | |
| Credit institutions | 430/8 | €83 | - | -€83 | |
| Trade debts | 44 | €4,660 | €11,216 | +€6,556 | +141% |
| Suppliers | 440/4 | €4,660 | €11,216 | +€6,556 | +141% |
| Taxes, remuneration and social security | 45 | €5,180 | €5,114 | -€67 | -1.3% |
| Taxes | 450/3 | €5,180 | €5,114 | -€67 | -1.3% |
| Other amounts payable | 47/48 | €687 | €687 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €4,128 | €4,729 | +€601 | +14.6% |
| Non-recurring operating income | 76A | €6,403 | - | -€6,403 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,166 | €18,477 | -€1,690 | -8.4% |
| Other operating charges | 640/8 | €2,863 | €2,572 | -€291 | -10.2% |
| Gross operating margin | 9900 | €61,906 | €44,516 | -€17,390 | -28.1% |
| Operating profit (loss) | 9901 | €38,877 | €23,467 | -€15,410 | -39.6% |
| Financial income | 75/76B | €6,748 | €6,942 | +€194 | +2.9% |
| Recurring financial income | 75 | €6,748 | €6,942 | +€194 | +2.9% |
| Financial charges | 65/66B | €5,293 | €4,476 | -€817 | -15.4% |
| Recurring financial charges | 65 | €5,293 | €4,476 | -€817 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | €40,332 | €25,933 | -€14,399 | -35.7% |
| Income taxes | 67/77 | €3,397 | €8,189 | +€4,792 | +141% |
| Profit (loss) for the period | 9904 | €36,935 | €17,744 | -€19,191 | -52.0% |
| Profit (loss) for the period to be appropriated | 9905 | €36,935 | €17,744 | -€19,191 | -52.0% |
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 25 October 2026 via checked.be.