BELGIUM LIGHTING: 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.
BELGIUM LIGHTING
Largest movements
- Cash -€119,830
down €119,830 (-64.9%), from €184,552 to €64,721
mainly Contributions, distributions and other (-€197,000) and Receivables within one year (-€21,870)
- Tangible fixed assets -€69,985
down €69,985 (-11.8%), from €593,705 to €523,721
of which Land and buildings: -€69,311
- Receivables within one year +€21,870
up €21,870 (+240%), from €9,108 to €30,978
of which Other amounts receivable: +€19,900
- Profit (loss) carried forward -€163,378
down €163,378 (-100%), from €163,378 to €0
- Gross operating margin -€35,013
down €35,013 (-20.9%), from €167,209 to €132,196
- Taxes -€7,791
down €7,791 (-37.3%), from €20,891 to €13,100
- Financial charges -€3,247
down €3,247 (-80.6%), from €4,030 to €783
- Depreciation +€1,989
up €1,989 (+2.9%), from €67,996 to €69,985
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 | €802,022 | €631,651 | -€170,371 | -21.2% |
| Fixed assets | 21/28 | €593,755 | €523,721 | -€70,034 | -11.8% |
| Tangible fixed assets | 22/27 | €593,705 | €523,721 | -€69,985 | -11.8% |
| Land and buildings | 22 | €592,036 | €522,725 | -€69,311 | -11.7% |
| Furniture and vehicles | 24 | €1,670 | €996 | -€674 | -40.3% |
| Financial fixed assets | 28 | €50 | €0 | -€50 | -100% |
| Current assets | 29/58 | €208,268 | €107,930 | -€100,337 | -48.2% |
| Amounts receivable within one year | 40/41 | €9,108 | €30,978 | +€21,870 | +240% |
| Trade receivables | 40 | €0 | €1,970 | +€1,970 | |
| Other amounts receivable | 41 | €9,108 | €29,008 | +€19,900 | +218% |
| Cash at bank and in hand | 54/58 | €184,552 | €64,721 | -€119,830 | -64.9% |
| Deferred charges and accrued income | 490/1 | €14,608 | €12,231 | -€2,377 | -16.3% |
| Total equity and liabilities | 10/49 | €802,022 | €631,651 | -€170,371 | -21.2% |
| Equity | 10/15 | €790,467 | €631,277 | -€159,190 | -20.1% |
| Contributions | 10/11 | €248,000 | €248,000 | = | 0.0% |
| Capital | 10 | €248,000 | €248,000 | = | 0.0% |
| Issued capital | 100 | €248,000 | €248,000 | = | 0.0% |
| Reserves | 13 | €379,089 | €383,277 | +€4,188 | +1.1% |
| Non-distributable reserves | 130/1 | €24,800 | €24,800 | = | 0.0% |
| Legal reserve | 130 | €24,800 | €24,800 | = | 0.0% |
| Distributable reserves | 133 | €354,289 | €358,477 | +€4,188 | +1.2% |
| Profit (loss) carried forward | 14 | €163,378 | €0 | -€163,378 | -100% |
| Amounts payable | 17/49 | €11,555 | €374 | -€11,182 | -96.8% |
| Amounts payable within one year | 42/48 | €3,657 | €374 | -€3,283 | -89.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €3,532 | €374 | -€3,158 | -89.4% |
| Suppliers | 440/4 | €3,532 | €374 | -€3,158 | -89.4% |
| Taxes, remuneration and social security | 45 | €125 | €0 | -€125 | -100% |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration and social security | 454/9 | €125 | €0 | -€125 | -100% |
| Accrued charges and deferred income | 492/3 | €7,898 | €0 | -€7,898 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,996 | €69,985 | +€1,989 | +2.9% |
| Other operating charges | 640/8 | €10,206 | €10,517 | +€311 | +3.0% |
| Non-recurring operating charges | 66A | €0 | - | -€0 | |
| Gross operating margin | 9900 | €167,209 | €132,196 | -€35,013 | -20.9% |
| Operating profit (loss) | 9901 | €89,007 | €51,694 | -€37,313 | -41.9% |
| Financial charges | 65/66B | €4,030 | €783 | -€3,247 | -80.6% |
| Recurring financial charges | 65 | €4,030 | €783 | -€3,247 | -80.6% |
| Profit (loss) for the period before taxes | 9903 | €84,977 | €50,910 | -€34,067 | -40.1% |
| Income taxes | 67/77 | €20,891 | €13,100 | -€7,791 | -37.3% |
| Profit (loss) for the period | 9904 | €64,086 | €37,810 | -€26,276 | -41.0% |
| Profit (loss) for the period to be appropriated | 9905 | €64,086 | €37,810 | -€26,276 | -41.0% |
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 19 October 2026 via checked.be.