SANDRA LEMMENS: what changed
SANDRA LEMMENS
Largest movements
- Receivables within one year +€20,907
up €20,907 (+301%), from €6,951 to €27,857
of which Other amounts receivable: +€20,287
- Cash -€6,299
down €6,299 (-19.5%), from €32,358 to €26,058
mainly Receivables within one year (-€20,907) and Contributions, distributions and other (-€12,500)
- Tangible fixed assets -€2,210
down €2,210 (-27.0%), from €8,178 to €5,969
of which Furniture and vehicles: -€2,548
- Other debts +€12,500
new in 2025: €12,500
- Tax, wage and social debts -€2,777
down €2,777 (-47.6%), from €5,839 to €3,061
- Trade debts +€2,305
up €2,305 (+39.9%), from €5,783 to €8,088
- Advances received -€703
no longer reported in 2025 (was €703)
- Gross operating margin +€1,563
up €1,563 (+7.4%), from €21,137 to €22,700
- Taxes +€1,237
up €1,237 (+28.0%), from €4,420 to €5,656
- Other operating charges -€986
down €986 (-73.0%), from €1,351 to €364
- Financial income +€741
up €741 (+163%), from €455 to €1,196
- Depreciation +€401
up €401 (+10.2%), from €3,920 to €4,321
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 | €58,128 | €69,873 | +€11,745 | +20.2% |
| Fixed assets | 21/28 | €8,178 | €5,969 | -€2,210 | -27.0% |
| Tangible fixed assets | 22/27 | €8,178 | €5,969 | -€2,210 | -27.0% |
| Plant, machinery and equipment | 23 | €1,839 | €1,171 | -€668 | -36.3% |
| Furniture and vehicles | 24 | €6,339 | €3,791 | -€2,548 | -40.2% |
| Other tangible fixed assets | 26 | - | €1,007 | +€1,007 | |
| Current assets | 29/58 | €49,949 | €63,904 | +€13,955 | +27.9% |
| Amounts receivable within one year | 40/41 | €6,951 | €27,857 | +€20,907 | +301% |
| Trade receivables | 40 | - | €619 | +€619 | |
| Other amounts receivable | 41 | €6,951 | €27,238 | +€20,287 | +292% |
| Cash at bank and in hand | 54/58 | €32,358 | €26,058 | -€6,299 | -19.5% |
| Deferred charges and accrued income | 490/1 | €10,641 | €9,989 | -€653 | -6.1% |
| Total equity and liabilities | 10/49 | €58,128 | €69,873 | +€11,745 | +20.2% |
| Equity | 10/15 | €45,804 | €46,224 | +€420 | +0.9% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €39,804 | €40,224 | +€420 | +1.1% |
| Distributable reserves | 133 | €39,804 | €40,224 | +€420 | +1.1% |
| Amounts payable | 17/49 | €12,324 | €23,649 | +€11,325 | +91.9% |
| Amounts payable within one year | 42/48 | €12,324 | €23,649 | +€11,325 | +91.9% |
| Trade debts | 44 | €5,783 | €8,088 | +€2,305 | +39.9% |
| Suppliers | 440/4 | €5,783 | €8,088 | +€2,305 | +39.9% |
| Advances received on contracts in progress | 46 | €703 | - | -€703 | |
| Taxes, remuneration and social security | 45 | €5,839 | €3,061 | -€2,777 | -47.6% |
| Taxes | 450/3 | €5,839 | €3,061 | -€2,777 | -47.6% |
| Other amounts payable | 47/48 | - | €12,500 | +€12,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,920 | €4,321 | +€401 | +10.2% |
| Other operating charges | 640/8 | €1,351 | €364 | -€986 | -73.0% |
| Gross operating margin | 9900 | €21,137 | €22,700 | +€1,563 | +7.4% |
| Operating profit (loss) | 9901 | €15,866 | €18,015 | +€2,148 | +13.5% |
| Financial income | 75/76B | €455 | €1,196 | +€741 | +163% |
| Recurring financial income | 75 | €455 | €1,196 | +€741 | +163% |
| Financial charges | 65/66B | €811 | €634 | -€177 | -21.8% |
| Recurring financial charges | 65 | €811 | €634 | -€177 | -21.8% |
| Profit (loss) for the period before taxes | 9903 | €15,510 | €18,576 | +€3,067 | +19.8% |
| Income taxes | 67/77 | €4,420 | €5,656 | +€1,237 | +28.0% |
| Profit (loss) for the period | 9904 | €11,090 | €12,920 | +€1,830 | +16.5% |
| Profit (loss) for the period to be appropriated | 9905 | €11,090 | €12,920 | +€1,830 | +16.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.