Barbara Louckx: 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.
Barbara Louckx
Largest movements
- Receivables after one year -€90,405
down €90,405 (-78.6%), from €115,000 to €24,595
- Cash +€85,936
up €85,936 (+866%), from €9,928 to €95,865
mainly Net result for the year (+€113,023) and Receivables after one year (+€90,405)
- Receivables within one year +€12,657
up €12,657 (+237%), from €5,343 to €18,000
of which Trade receivables: +€18,000
- Other debts +€31,874
up €31,874 (+87.3%), from €36,497 to €68,370
- Debts after one year -€30,846
down €30,846 (-27.4%), from €112,703 to €81,858
- Reserves -€30,302
down €30,302 (-9.6%), from €316,975 to €286,673
- Tax, wage and social debts +€19,560
up €19,560 (+395%), from €4,947 to €24,506
of which Taxes: +€21,393
- Trade debts +€18,000
up €18,000, from €0 to €18,000
- Gross operating margin +€117,172
up €117,172 (+270%), from €43,458 to €160,629
- Financial income -€112,852
down €112,852 (-98.7%), from €114,287 to €1,435
- Taxes +€24,589
up €24,589 (+114%), from €21,657 to €46,246
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 | €507,567 | €516,716 | +€9,149 | +1.8% |
| Fixed assets | 21/28 | €375,285 | €375,285 | = | 0.0% |
| Financial fixed assets | 28 | €375,285 | €375,285 | = | 0.0% |
| Current assets | 29/58 | €132,282 | €141,431 | +€9,149 | +6.9% |
| Amounts receivable after more than one year | 29 | €115,000 | €24,595 | -€90,405 | -78.6% |
| Other amounts receivable | 291 | €115,000 | €24,595 | -€90,405 | -78.6% |
| Amounts receivable within one year | 40/41 | €5,343 | €18,000 | +€12,657 | +237% |
| Trade receivables | 40 | €0 | €18,000 | +€18,000 | |
| Other amounts receivable | 41 | €5,343 | €0 | -€5,343 | -100% |
| Cash at bank and in hand | 54/58 | €9,928 | €95,865 | +€85,936 | +866% |
| Deferred charges and accrued income | 490/1 | €2,011 | €2,971 | +€960 | +47.8% |
| Total equity and liabilities | 10/49 | €507,567 | €516,716 | +€9,149 | +1.8% |
| Equity | 10/15 | €317,975 | €287,673 | -€30,302 | -9.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €316,975 | €286,673 | -€30,302 | -9.6% |
| Distributable reserves | 133 | €316,975 | €286,673 | -€30,302 | -9.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €189,593 | €229,043 | +€39,450 | +20.8% |
| Amounts payable after more than one year | 17 | €112,703 | €81,858 | -€30,846 | -27.4% |
| Financial debts | 170/4 | €112,703 | €81,858 | -€30,846 | -27.4% |
| Amounts payable within one year | 42/48 | €76,889 | €146,778 | +€69,888 | +90.9% |
| Current portion of amounts payable after more than one year | 42 | €30,387 | €30,846 | +€459 | +1.5% |
| Financial debts | 43 | €5,059 | €5,055 | -€4 | -0.1% |
| Credit institutions | 430/8 | €5,059 | €5,055 | -€4 | -0.1% |
| Trade debts | 44 | €0 | €18,000 | +€18,000 | |
| Suppliers | 440/4 | €0 | €18,000 | +€18,000 | |
| Taxes, remuneration and social security | 45 | €4,947 | €24,506 | +€19,560 | +395% |
| Taxes | 450/3 | €3,114 | €24,506 | +€21,393 | +687% |
| Remuneration and social security | 454/9 | €1,833 | €0 | -€1,833 | -100% |
| Other amounts payable | 47/48 | €36,497 | €68,370 | +€31,874 | +87.3% |
| Accrued charges and deferred income | 492/3 | - | €408 | +€408 | |
| Other operating charges | 640/8 | €387 | €458 | +€70 | +18.2% |
| Gross operating margin | 9900 | €43,458 | €160,629 | +€117,172 | +270% |
| Operating profit (loss) | 9901 | €43,070 | €160,171 | +€117,101 | +272% |
| Financial income | 75/76B | €114,287 | €1,435 | -€112,852 | -98.7% |
| Recurring financial income | 75 | €114,287 | €1,435 | -€112,852 | -98.7% |
| Financial charges | 65/66B | €2,941 | €2,337 | -€604 | -20.5% |
| Recurring financial charges | 65 | €2,941 | €2,337 | -€604 | -20.5% |
| Profit (loss) for the period before taxes | 9903 | €154,416 | €159,269 | +€4,853 | +3.1% |
| Income taxes | 67/77 | €21,657 | €46,246 | +€24,589 | +114% |
| Profit (loss) for the period | 9904 | €132,759 | €113,023 | -€19,736 | -14.9% |
| Profit (loss) for the period to be appropriated | 9905 | €132,759 | €113,023 | -€19,736 | -14.9% |
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 21 October 2026 via checked.be.