AD LUCEM: 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.
AD LUCEM
Largest movements
- Tangible fixed assets -€13,310
down €13,310 (-7.9%), from €167,481 to €154,171
of which Land and buildings: -€13,310
- Cash +€2,391
up €2,391 (+85.6%), from €2,794 to €5,185
mainly Other debts (+€15,000) and Depreciation (+€13,310)
- Debts after one year -€22,781
down €22,781 (-21.8%), from €104,472 to €81,691
of which Financial debts: -€22,781
- Other debts +€15,000
up €15,000 (+229.4%), from €6,539 to €21,539
- Trade debts -€4,137
no longer reported in 2025 (was €4,137)
- Profit (loss) carried forward +€3,513
up €3,513 (+16.1%), from €21,772 to €25,286
- Accrued charges and deferred income -€3,450
no longer reported in 2025 (was €3,450)
- Gross operating margin -€4,576
down €4,576 (-15.0%), from €30,424 to €25,848
- Financial charges -€2,912
down €2,912 (-37.3%), from €7,804 to €4,892
- Other operating charges +€1,105
up €1,105 (+36.5%), from €3,028 to €4,133
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.
Cash bridge derived
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 | €170,275 | €159,356 | -€10,919 | -6.4% |
| Fixed assets | 21/28 | €167,481 | €154,171 | -€13,310 | -7.9% |
| Tangible fixed assets | 22/27 | €167,481 | €154,171 | -€13,310 | -7.9% |
| Land and buildings | 22 | €165,457 | €152,147 | -€13,310 | -8.0% |
| Furniture and vehicles | 24 | €2,024 | €2,024 | = | 0.0% |
| Current assets | 29/58 | €2,794 | €5,185 | +€2,391 | +85.6% |
| Cash at bank and in hand | 54/58 | €2,794 | €5,185 | +€2,391 | +85.6% |
| Total equity and liabilities | 10/49 | €170,275 | €159,356 | -€10,919 | -6.4% |
| Equity | 10/15 | €29,832 | €33,346 | +€3,513 | +11.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,772 | €25,286 | +€3,513 | +16.1% |
| Amounts payable | 17/49 | €140,442 | €126,010 | -€14,432 | -10.3% |
| Amounts payable after more than one year | 17 | €104,472 | €81,691 | -€22,781 | -21.8% |
| Financial debts | 170/4 | €103,083 | €80,303 | -€22,781 | -22.1% |
| Other amounts payable | 178/9 | €1,388 | €1,388 | = | 0.0% |
| Amounts payable within one year | 42/48 | €32,521 | €44,319 | +€11,798 | +36.3% |
| Current portion of amounts payable after more than one year | 42 | €21,845 | €22,781 | +€936 | +4.3% |
| Trade debts | 44 | €4,137 | - | -€4,137 | |
| Suppliers | 440/4 | €4,137 | - | -€4,137 | |
| Other amounts payable | 47/48 | €6,539 | €21,539 | +€15,000 | +229.4% |
| Accrued charges and deferred income | 492/3 | €3,450 | - | -€3,450 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,310 | €13,310 | = | 0.0% |
| Other operating charges | 640/8 | €3,028 | €4,133 | +€1,105 | +36.5% |
| Gross operating margin | 9900 | €30,424 | €25,848 | -€4,576 | -15.0% |
| Operating profit (loss) | 9901 | €14,086 | €8,405 | -€5,681 | -40.3% |
| Financial income | 75/76B | €0 | €0 | -€0 | -54.5% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -54.5% |
| Financial charges | 65/66B | €7,804 | €4,892 | -€2,912 | -37.3% |
| Recurring financial charges | 65 | €7,804 | €4,892 | -€2,912 | -37.3% |
| Profit (loss) for the period before taxes | 9903 | €6,283 | €3,513 | -€2,770 | -44.1% |
| Income taxes | 67/77 | €0 | €0 | -€0 | -33.3% |
| Profit (loss) for the period | 9904 | €6,283 | €3,513 | -€2,770 | -44.1% |
| Profit (loss) for the period to be appropriated | 9905 | €6,283 | €3,513 | -€2,770 | -44.1% |
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 10 October 2026 via checked.be.