BERT LUYTEN: what changed
Two fiscal 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.
BERT LUYTEN
Largest movements
- Tangible fixed assets -€154,514
down €154,514 (-11.1%), from €1.4m to €1.2m
of which Land and buildings: -€135,795
- Receivables within one year +€153,397
up €153,397 (+7822.4%), from €1,961 to €155,358
- Reserves +€155,353
up €155,353 (+59.4%), from €261,324 to €416,677
of which Distributable reserves: +€155,353
- Short-term financial debts -€111,500
no longer reported in 2025 (was €111,500)
- Debts after one year -€53,660
down €53,660 (-11.6%), from €464,093 to €410,433
- Other debts +€38,254
up €38,254 (+5.3%), from €725,945 to €764,199
- Gross operating margin +€141,093
up €141,093 (+45.7%), from €308,921 to €450,014
- Taxes +€59,169
up €59,169 (+462.9%), from €12,782 to €71,950
- Depreciation -€39,339
down €39,339 (-16.7%), from €235,651 to €196,312
- Financial charges -€7,799
down €7,799 (-24.3%), from €32,081 to €24,283
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 | €1,728,457 | €1,743,368 | +€14,911 | +0.9% |
| Fixed assets | 21/28 | €1,634,883 | €1,480,369 | -€154,514 | -9.5% |
| Tangible fixed assets | 22/27 | €1,397,815 | €1,243,302 | -€154,514 | -11.1% |
| Land and buildings | 22 | €1,272,631 | €1,136,835 | -€135,795 | -10.7% |
| Plant, machinery and equipment | 23 | €2,464 | €3,898 | +€1,434 | +58.2% |
| Furniture and vehicles | 24 | €122,721 | €102,569 | -€20,152 | -16.4% |
| Financial fixed assets | 28 | €237,067 | €237,067 | = | 0.0% |
| Current assets | 29/58 | €93,574 | €262,999 | +€169,425 | +181.1% |
| Amounts receivable within one year | 40/41 | €1,961 | €155,358 | +€153,397 | +7822.4% |
| Trade receivables | 40 | €1,961 | €155,358 | +€153,397 | +7822.4% |
| Cash at bank and in hand | 54/58 | €86,797 | €102,794 | +€15,998 | +18.4% |
| Deferred charges and accrued income | 490/1 | €4,817 | €4,847 | +€30 | +0.6% |
| Total equity and liabilities | 10/49 | €1,728,457 | €1,743,368 | +€14,911 | +0.9% |
| Equity | 10/15 | €261,611 | €416,964 | +€155,353 | +59.4% |
| Contributions | 10/11 | €287 | €287 | = | 0.0% |
| Reserves | 13 | €261,324 | €416,677 | +€155,353 | +59.4% |
| Non-distributable reserves | 130/1 | €19,543 | €19,543 | = | 0.0% |
| Reserves not available under the articles | 1311 | €86 | €86 | = | 0.0% |
| Other | 1319 | €19,457 | €19,457 | = | 0.0% |
| Distributable reserves | 133 | €241,781 | €397,134 | +€155,353 | +64.3% |
| Provisions and deferred taxes | 16 | €80,485 | €80,485 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €80,485 | €80,485 | = | 0.0% |
| Pensions and similar obligations | 160 | €80,485 | €80,485 | = | 0.0% |
| Amounts payable | 17/49 | €1,386,361 | €1,245,919 | -€140,442 | -10.1% |
| Amounts payable after more than one year | 17 | €464,093 | €410,433 | -€53,660 | -11.6% |
| Financial debts | 170/4 | €464,093 | €410,433 | -€53,660 | -11.6% |
| Amounts payable within one year | 42/48 | €922,268 | €835,487 | -€86,782 | -9.4% |
| Current portion of amounts payable after more than one year | 42 | €64,808 | €53,660 | -€11,148 | -17.2% |
| Financial debts | 43 | €111,500 | - | -€111,500 | |
| Credit institutions | 430/8 | €111,500 | - | -€111,500 | |
| Trade debts | 44 | €8,421 | €6,587 | -€1,834 | -21.8% |
| Suppliers | 440/4 | €8,421 | €6,587 | -€1,834 | -21.8% |
| Taxes, remuneration and social security | 45 | €11,594 | €11,041 | -€554 | -4.8% |
| Taxes | 450/3 | €11,594 | €11,041 | -€554 | -4.8% |
| Other amounts payable | 47/48 | €725,945 | €764,199 | +€38,254 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €235,651 | €196,312 | -€39,339 | -16.7% |
| Other operating charges | 640/8 | €2,350 | €2,323 | -€27 | -1.1% |
| Non-recurring operating charges | 66A | €3,750 | - | -€3,750 | |
| Gross operating margin | 9900 | €308,921 | €450,014 | +€141,093 | +45.7% |
| Operating profit (loss) | 9901 | €67,170 | €251,378 | +€184,208 | +274.2% |
| Financial income | 75/76B | €134 | €208 | +€74 | +55.2% |
| Recurring financial income | 75 | €134 | €208 | +€74 | +55.2% |
| Financial charges | 65/66B | €32,081 | €24,283 | -€7,799 | -24.3% |
| Recurring financial charges | 65 | €32,081 | €24,283 | -€7,799 | -24.3% |
| Profit (loss) for the period before taxes | 9903 | €35,223 | €227,304 | +€192,081 | +545.3% |
| Income taxes | 67/77 | €12,782 | €71,950 | +€59,169 | +462.9% |
| Profit (loss) for the period | 9904 | €22,441 | €155,353 | +€132,912 | +592.3% |
| Profit (loss) for the period to be appropriated | 9905 | €22,441 | €155,353 | +€132,912 | +592.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.