MICHEL LAMMENS: 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.
MICHEL LAMMENS
Largest movements
- Cash -€34,165
down €34,165 (-53.9%), from €63,430 to €29,265
mainly Other debts (-€27,465) and Contributions, distributions and other (-€15,516)
- Receivables within one year +€4,446
up €4,446 (+69.4%), from €6,409 to €10,855
of which Other amounts receivable: +€3,202
- Other debts -€27,465
down €27,465 (-63.5%), from €43,262 to €15,796
- Tax, wage and social debts -€2,524
down €2,524 (-40.3%), from €6,260 to €3,737
- Gross operating margin -€29,627
down €29,627 (-59.1%), from €50,099 to €20,472
- Taxes -€1,886
down €1,886 (-31.3%), from €6,022 to €4,137
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 | €70,656 | €40,282 | -€30,374 | -43.0% |
| Current assets | 29/58 | €70,656 | €40,282 | -€30,374 | -43.0% |
| Amounts receivable within one year | 40/41 | €6,409 | €10,855 | +€4,446 | +69.4% |
| Trade receivables | 40 | €3,748 | €4,992 | +€1,244 | +33.2% |
| Other amounts receivable | 41 | €2,661 | €5,863 | +€3,202 | +120% |
| Cash at bank and in hand | 54/58 | €63,430 | €29,265 | -€34,165 | -53.9% |
| Deferred charges and accrued income | 490/1 | €817 | €162 | -€655 | -80.2% |
| Total equity and liabilities | 10/49 | €70,656 | €40,282 | -€30,374 | -43.0% |
| Equity | 10/15 | €19,392 | €19,392 | = | 0.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €842 | €842 | = | 0.0% |
| Non-distributable reserves | 130/1 | €842 | €842 | = | 0.0% |
| Reserves not available under the articles | 1311 | €842 | €842 | = | 0.0% |
| Amounts payable | 17/49 | €51,264 | €20,890 | -€30,374 | -59.3% |
| Amounts payable within one year | 42/48 | €51,264 | €20,890 | -€30,374 | -59.3% |
| Trade debts | 44 | €1,742 | €1,357 | -€385 | -22.1% |
| Suppliers | 440/4 | €1,742 | €1,357 | -€385 | -22.1% |
| Taxes, remuneration and social security | 45 | €6,260 | €3,737 | -€2,524 | -40.3% |
| Taxes | 450/3 | €6,260 | €3,737 | -€2,524 | -40.3% |
| Other amounts payable | 47/48 | €43,262 | €15,796 | -€27,465 | -63.5% |
| Other operating charges | 640/8 | €776 | €779 | +€3 | +0.4% |
| Gross operating margin | 9900 | €50,099 | €20,472 | -€29,627 | -59.1% |
| Operating profit (loss) | 9901 | €49,323 | €19,693 | -€29,630 | -60.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €39 | €40 | +€1 | +3.5% |
| Recurring financial charges | 65 | €39 | €40 | +€1 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | €49,284 | €19,652 | -€29,632 | -60.1% |
| Income taxes | 67/77 | €6,022 | €4,137 | -€1,886 | -31.3% |
| Profit (loss) for the period | 9904 | €43,262 | €15,516 | -€27,746 | -64.1% |
| Profit (loss) for the period to be appropriated | 9905 | €43,262 | €15,516 | -€27,746 | -64.1% |
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 15 October 2026 via checked.be.