Tom Lenaerts: what changed
Tom Lenaerts
Largest movements
- Cash +€166,839
up €166,839 (+402%), from €41,488 to €208,327
mainly Net result for the year (+€124,073) and Receivables within one year (+€34,735)
- Receivables within one year -€34,735
down €34,735 (-25.7%), from €135,124 to €100,389
of which Trade receivables: -€30,547
- Deferred charges and accrued income -€16,977
down €16,977 (-93.5%), from €18,164 to €1,187
- Tangible fixed assets -€3,847
down €3,847 (-100%), from €3,847 to €0
- Reserves +€124,073
up €124,073 (+124%), from €100,312 to €224,385
- Other debts -€26,629
down €26,629 (-44.4%), from €60,039 to €33,410
- Tax, wage and social debts +€19,436
up €19,436 (+124%), from €15,701 to €35,137
- Trade debts -€5,600
down €5,600 (-44.6%), from €12,570 to €6,970
- Depreciation -€13,578
down €13,578 (-77.9%), from €17,425 to €3,847
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 | €198,622 | €309,903 | +€111,281 | +56.0% |
| Fixed assets | 21/28 | €3,847 | €0 | -€3,847 | -100% |
| Tangible fixed assets | 22/27 | €3,847 | €0 | -€3,847 | -100% |
| Furniture and vehicles | 24 | €3,847 | €0 | -€3,847 | -100% |
| Current assets | 29/58 | €194,775 | €309,903 | +€115,127 | +59.1% |
| Amounts receivable within one year | 40/41 | €135,124 | €100,389 | -€34,735 | -25.7% |
| Trade receivables | 40 | €130,071 | €99,524 | -€30,547 | -23.5% |
| Other amounts receivable | 41 | €5,053 | €866 | -€4,188 | -82.9% |
| Cash at bank and in hand | 54/58 | €41,488 | €208,327 | +€166,839 | +402% |
| Deferred charges and accrued income | 490/1 | €18,164 | €1,187 | -€16,977 | -93.5% |
| Total equity and liabilities | 10/49 | €198,622 | €309,903 | +€111,281 | +56.0% |
| Equity | 10/15 | €110,312 | €234,385 | +€124,073 | +112% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €100,312 | €224,385 | +€124,073 | +124% |
| Distributable reserves | 133 | €100,312 | €224,385 | +€124,073 | +124% |
| Amounts payable | 17/49 | €88,310 | €75,517 | -€12,793 | -14.5% |
| Amounts payable within one year | 42/48 | €88,310 | €75,517 | -€12,793 | -14.5% |
| Trade debts | 44 | €12,570 | €6,970 | -€5,600 | -44.6% |
| Suppliers | 440/4 | €12,570 | €6,970 | -€5,600 | -44.6% |
| Taxes, remuneration and social security | 45 | €15,701 | €35,137 | +€19,436 | +124% |
| Taxes | 450/3 | €15,701 | €35,137 | +€19,436 | +124% |
| Other amounts payable | 47/48 | €60,039 | €33,410 | -€26,629 | -44.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,425 | €3,847 | -€13,578 | -77.9% |
| Other operating charges | 640/8 | €2,543 | €2,043 | -€500 | -19.6% |
| Gross operating margin | 9900 | €183,158 | €183,677 | +€520 | +0.3% |
| Operating profit (loss) | 9901 | €163,190 | €177,787 | +€14,597 | +8.9% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €4,781 | €4,151 | -€630 | -13.2% |
| Recurring financial charges | 65 | €4,781 | €4,151 | -€630 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €158,409 | €173,636 | +€15,226 | +9.6% |
| Income taxes | 67/77 | €49,505 | €49,562 | +€57 | +0.1% |
| Profit (loss) for the period | 9904 | €108,904 | €124,073 | +€15,169 | +13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €108,904 | €124,073 | +€15,169 | +13.9% |
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 3 November 2026 via checked.be.