VAN LEMBERGEN INFRA: 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.
VAN LEMBERGEN INFRA
Largest movements
- Cash +€303,600
up €303,600 (+66.4%), from €457,247 to €760,847
mainly Net result for the year (+€328,247) and Receivables within one year (+€74,230)
- Receivables within one year -€74,230
down €74,230 (-23.5%), from €315,557 to €241,327
of which Trade receivables: -€190,875
- Current investments +€35,000
up €35,000 (+17.8%), from €197,032 to €232,032
- Tangible fixed assets -€30,503
down €30,503 (-17.6%), from €173,466 to €142,963
of which Leasing and similar rights: -€26,507
- Reserves +€231,247
up €231,247 (+23.7%), from €977,307 to €1.2m
of which Distributable reserves: +€147,047
- Current portion of long-term debt -€38,813
down €38,813 (-68.0%), from €57,087 to €18,274
- Trade debts +€25,636
up €25,636 (+70.0%), from €36,611 to €62,247
- Debts after one year -€24,333
down €24,333 (-39.1%), from €62,198 to €37,865
- Accrued charges and deferred income +€16,211
up €16,211 (+1,655%), from €979 to €17,191
- Gross operating margin +€98,810
up €98,810 (+23.2%), from €426,589 to €525,400
- Staff costs -€26,940
down €26,940 (-49.0%), from €54,995 to €28,055
- Taxes +€13,085
up €13,085 (+13.9%), from €94,386 to €107,471
- Other operating charges +€11,513
up €11,513 (+613%), from €1,879 to €13,392
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 | €1,195,884 | €1,432,675 | +€236,791 | +19.8% |
| Fixed assets | 21/28 | €175,214 | €144,961 | -€30,253 | -17.3% |
| Tangible fixed assets | 22/27 | €173,466 | €142,963 | -€30,503 | -17.6% |
| Plant, machinery and equipment | 23 | €11,825 | €7,453 | -€4,372 | -37.0% |
| Furniture and vehicles | 24 | €69,014 | €70,199 | +€1,184 | +1.7% |
| Leasing and similar rights | 25 | €88,686 | €62,179 | -€26,507 | -29.9% |
| Other tangible fixed assets | 26 | €3,941 | €3,132 | -€809 | -20.5% |
| Financial fixed assets | 28 | €1,748 | €1,998 | +€250 | +14.3% |
| Current assets | 29/58 | €1,020,671 | €1,287,715 | +€267,044 | +26.2% |
| Stocks and contracts in progress | 3 | €12,741 | €12,741 | = | 0.0% |
| Stocks | 30/36 | €12,741 | €12,741 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €315,557 | €241,327 | -€74,230 | -23.5% |
| Trade receivables | 40 | €236,983 | €46,108 | -€190,875 | -80.5% |
| Other amounts receivable | 41 | €78,574 | €195,219 | +€116,645 | +148% |
| Current investments | 50/53 | €197,032 | €232,032 | +€35,000 | +17.8% |
| Cash at bank and in hand | 54/58 | €457,247 | €760,847 | +€303,600 | +66.4% |
| Deferred charges and accrued income | 490/1 | €38,093 | €40,768 | +€2,675 | +7.0% |
| Total equity and liabilities | 10/49 | €1,195,884 | €1,432,675 | +€236,791 | +19.8% |
| Equity | 10/15 | €998,136 | €1,229,383 | +€231,247 | +23.2% |
| Contributions | 10/11 | €20,829 | €20,829 | = | 0.0% |
| Reserves | 13 | €977,307 | €1,208,554 | +€231,247 | +23.7% |
| Tax-exempt reserves | 132 | €145,245 | €229,445 | +€84,200 | +58.0% |
| Distributable reserves | 133 | €832,062 | €979,109 | +€147,047 | +17.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €197,748 | €203,292 | +€5,544 | +2.8% |
| Amounts payable after more than one year | 17 | €62,198 | €37,865 | -€24,333 | -39.1% |
| Financial debts | 170/4 | €62,198 | €37,865 | -€24,333 | -39.1% |
| Amounts payable within one year | 42/48 | €134,570 | €148,236 | +€13,666 | +10.2% |
| Current portion of amounts payable after more than one year | 42 | €57,087 | €18,274 | -€38,813 | -68.0% |
| Trade debts | 44 | €36,611 | €62,247 | +€25,636 | +70.0% |
| Suppliers | 440/4 | €36,611 | €62,247 | +€25,636 | +70.0% |
| Taxes, remuneration and social security | 45 | €18,500 | €33,381 | +€14,881 | +80.4% |
| Taxes | 450/3 | €18,500 | €32,142 | +€13,642 | +73.7% |
| Remuneration and social security | 454/9 | €0 | €1,238 | +€1,238 | |
| Other amounts payable | 47/48 | €22,372 | €34,335 | +€11,963 | +53.5% |
| Accrued charges and deferred income | 492/3 | €979 | €17,191 | +€16,211 | +1,655% |
| Non-recurring operating income | 76A | €49,181 | €0 | -€49,181 | -100% |
| Remuneration, social security and pensions | 62 | €54,995 | €28,055 | -€26,940 | -49.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,076 | €40,404 | -€3,672 | -8.3% |
| Other operating charges | 640/8 | €1,879 | €13,392 | +€11,513 | +613% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €426,589 | €525,400 | +€98,810 | +23.2% |
| Operating profit (loss) | 9901 | €325,639 | €443,549 | +€117,910 | +36.2% |
| Financial income | 75/76B | €7,728 | €6,942 | -€786 | -10.2% |
| Recurring financial income | 75 | €7,728 | €6,942 | -€786 | -10.2% |
| Financial charges | 65/66B | €10,589 | €14,773 | +€4,184 | +39.5% |
| Recurring financial charges | 65 | €10,589 | €14,773 | +€4,184 | +39.5% |
| Profit (loss) for the period before taxes | 9903 | €322,778 | €435,718 | +€112,939 | +35.0% |
| Income taxes | 67/77 | €94,386 | €107,471 | +€13,085 | +13.9% |
| Profit (loss) for the period | 9904 | €228,393 | €328,247 | +€99,854 | +43.7% |
| Transfer from tax-exempt reserves | 789 | €0 | €42,100 | +€42,100 | |
| Transfer to tax-exempt reserves | 689 | €42,100 | €126,300 | +€84,200 | +200% |
| Profit (loss) for the period to be appropriated | 9905 | €186,293 | €244,047 | +€57,754 | +31.0% |
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 30 October 2026 via checked.be.