Brecht Lokere: 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.
Brecht Lokere
Largest movements
- Receivables within one year +€67,853
up €67,853 (+356%), from €19,077 to €86,931
of which Trade receivables: +€81,635
- Cash +€41,541
up €41,541 (+202%), from €20,547 to €62,087
mainly Net result for the year (+€100,854) and Other debts (+€100,420)
- Tangible fixed assets +€6,475
up €6,475 (+25.1%), from €25,754 to €32,229
of which Other tangible fixed assets: +€10,387
- Other debts +€100,420
new in 2025: €100,420
- Tax, wage and social debts +€15,713
up €15,713 (+36.7%), from €42,871 to €58,584
of which Taxes: +€14,299
- Debts after one year -€4,803
down €4,803 (-45.2%), from €10,619 to €5,816
- Trade debts +€3,163
up €3,163 (+55.7%), from €5,681 to €8,844
- Gross operating margin +€35,829
up €35,829 (+34.1%), from €105,009 to €140,838
- Taxes +€9,653
up €9,653 (+46.4%), from €20,784 to €30,437
- Depreciation +€1,801
up €1,801 (+29.2%), from €6,159 to €7,959
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 | €66,813 | €181,468 | +€114,655 | +172% |
| Fixed assets | 21/28 | €25,754 | €32,229 | +€6,475 | +25.1% |
| Tangible fixed assets | 22/27 | €25,754 | €32,229 | +€6,475 | +25.1% |
| Plant, machinery and equipment | 23 | €521 | €391 | -€130 | -25.0% |
| Furniture and vehicles | 24 | €19,251 | €15,469 | -€3,782 | -19.6% |
| Other tangible fixed assets | 26 | €5,982 | €16,370 | +€10,387 | +174% |
| Current assets | 29/58 | €41,058 | €149,239 | +€108,180 | +263% |
| Amounts receivable within one year | 40/41 | €19,077 | €86,931 | +€67,853 | +356% |
| Trade receivables | 40 | €4,017 | €85,652 | +€81,635 | +2,032% |
| Other amounts receivable | 41 | €15,060 | €1,278 | -€13,782 | -91.5% |
| Cash at bank and in hand | 54/58 | €20,547 | €62,087 | +€41,541 | +202% |
| Deferred charges and accrued income | 490/1 | €1,435 | €221 | -€1,214 | -84.6% |
| Total equity and liabilities | 10/49 | €66,813 | €181,468 | +€114,655 | +172% |
| Equity | 10/15 | €3,000 | €3,000 | = | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Amounts payable | 17/49 | €63,813 | €178,468 | +€114,655 | +180% |
| Amounts payable after more than one year | 17 | €10,619 | €5,816 | -€4,803 | -45.2% |
| Financial debts | 170/4 | €10,619 | €5,816 | -€4,803 | -45.2% |
| Amounts payable within one year | 42/48 | €53,193 | €172,652 | +€119,458 | +225% |
| Current portion of amounts payable after more than one year | 42 | €4,641 | €4,803 | +€162 | +3.5% |
| Trade debts | 44 | €5,681 | €8,844 | +€3,163 | +55.7% |
| Suppliers | 440/4 | €5,681 | €8,844 | +€3,163 | +55.7% |
| Taxes, remuneration and social security | 45 | €42,871 | €58,584 | +€15,713 | +36.7% |
| Taxes | 450/3 | €22,715 | €37,014 | +€14,299 | +63.0% |
| Remuneration and social security | 454/9 | €20,156 | €21,570 | +€1,414 | +7.0% |
| Other amounts payable | 47/48 | - | €100,420 | +€100,420 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,159 | €7,959 | +€1,801 | +29.2% |
| Other operating charges | 640/8 | €578 | €587 | +€8 | +1.4% |
| Gross operating margin | 9900 | €105,009 | €140,838 | +€35,829 | +34.1% |
| Operating profit (loss) | 9901 | €98,272 | €132,292 | +€34,020 | +34.6% |
| Financial income | 75/76B | €152 | €40 | -€112 | -73.4% |
| Recurring financial income | 75 | €152 | €40 | -€112 | -73.4% |
| Financial charges | 65/66B | €906 | €1,041 | +€135 | +14.9% |
| Recurring financial charges | 65 | €906 | €1,041 | +€135 | +14.9% |
| Profit (loss) for the period before taxes | 9903 | €97,518 | €131,292 | +€33,774 | +34.6% |
| Income taxes | 67/77 | €20,784 | €30,437 | +€9,653 | +46.4% |
| Profit (loss) for the period | 9904 | €76,734 | €100,854 | +€24,121 | +31.4% |
| Profit (loss) for the period to be appropriated | 9905 | €76,734 | €100,854 | +€24,121 | +31.4% |
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.