May Lenaerts: 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.
May Lenaerts
Largest movements
- Tangible fixed assets -€9,154
down €9,154 (-24.5%), from €37,325 to €28,171
of which Leasing and similar rights: -€9,716
- Cash -€3,338
down €3,338 (-17.8%), from €18,796 to €15,458
mainly Debts after one year (-€9,533) and Tax, wage and social debts (-€5,344)
- Receivables within one year +€2,862
up €2,862 (+4.4%), from €64,900 to €67,762
- Deferred charges and accrued income +€1,437
up €1,437 (+33.2%), from €4,333 to €5,769
- Debts after one year -€9,533
down €9,533 (-55.7%), from €17,106 to €7,573
- Reserves +€6,249
up €6,249 (+7.0%), from €89,105 to €95,354
- Tax, wage and social debts -€5,344
down €5,344 (-85.1%), from €6,283 to €939
- Turnover -€56,562
no longer reported in 2025 (was €56,562)
- Purchases and services -€38,203
no longer reported in 2025 (was €38,203)
- Gross operating margin -€8,541
down €8,541 (-32.1%), from €26,630 to €18,090
- Taxes -€1,207
down €1,207 (-23.5%), from €5,131 to €3,924
- Financial income +€669
up €669 (+20.2%), from €3,318 to €3,987
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 | €125,354 | €117,161 | -€8,193 | -6.5% |
| Fixed assets | 21/28 | €37,325 | €28,171 | -€9,154 | -24.5% |
| Tangible fixed assets | 22/27 | €37,325 | €28,171 | -€9,154 | -24.5% |
| Plant, machinery and equipment | 23 | €954 | €2,619 | +€1,664 | +174% |
| Furniture and vehicles | 24 | €7,222 | €6,120 | -€1,102 | -15.3% |
| Leasing and similar rights | 25 | €29,149 | €19,433 | -€9,716 | -33.3% |
| Current assets | 29/58 | €88,029 | €88,990 | +€961 | +1.1% |
| Amounts receivable within one year | 40/41 | €64,900 | €67,762 | +€2,862 | +4.4% |
| Other amounts receivable | 41 | €64,900 | €67,762 | +€2,862 | +4.4% |
| Cash at bank and in hand | 54/58 | €18,796 | €15,458 | -€3,338 | -17.8% |
| Deferred charges and accrued income | 490/1 | €4,333 | €5,769 | +€1,437 | +33.2% |
| Total equity and liabilities | 10/49 | €125,354 | €117,161 | -€8,193 | -6.5% |
| Equity | 10/15 | €92,105 | €98,354 | +€6,249 | +6.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €89,105 | €95,354 | +€6,249 | +7.0% |
| Distributable reserves | 133 | €89,105 | €95,354 | +€6,249 | +7.0% |
| Amounts payable | 17/49 | €33,250 | €18,807 | -€14,443 | -43.4% |
| Amounts payable after more than one year | 17 | €17,106 | €7,573 | -€9,533 | -55.7% |
| Financial debts | 170/4 | €17,106 | €7,573 | -€9,533 | -55.7% |
| Amounts payable within one year | 42/48 | €16,143 | €11,234 | -€4,910 | -30.4% |
| Current portion of amounts payable after more than one year | 42 | €9,386 | €9,533 | +€147 | +1.6% |
| Trade debts | 44 | €475 | €762 | +€287 | +60.5% |
| Suppliers | 440/4 | €475 | €762 | +€287 | +60.5% |
| Taxes, remuneration and social security | 45 | €6,283 | €939 | -€5,344 | -85.1% |
| Taxes | 450/3 | €6,283 | €939 | -€5,344 | -85.1% |
| Turnover | 70 | €56,562 | - | -€56,562 | |
| Goods, raw materials, services and sundry goods | 60/61 | €38,203 | - | -€38,203 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,830 | €11,111 | +€280 | +2.6% |
| Other operating charges | 640/8 | €530 | €387 | -€143 | -27.0% |
| Gross operating margin | 9900 | €26,630 | €18,090 | -€8,541 | -32.1% |
| Operating profit (loss) | 9901 | €15,270 | €6,592 | -€8,678 | -56.8% |
| Financial income | 75/76B | €3,318 | €3,987 | +€669 | +20.2% |
| Recurring financial income | 75 | €3,318 | €3,987 | +€669 | +20.2% |
| Financial charges | 65/66B | €646 | €406 | -€239 | -37.1% |
| Recurring financial charges | 65 | €646 | €406 | -€239 | -37.1% |
| Profit (loss) for the period before taxes | 9903 | €17,943 | €10,173 | -€7,770 | -43.3% |
| Income taxes | 67/77 | €5,131 | €3,924 | -€1,207 | -23.5% |
| Profit (loss) for the period | 9904 | €12,812 | €6,249 | -€6,563 | -51.2% |
| Profit (loss) for the period to be appropriated | 9905 | €12,812 | €6,249 | -€6,563 | -51.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.