DE LUSTER: 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.
DE LUSTER
Largest movements
- Stocks and contracts -€104,912
down €104,912 (-92.2%), from €113,827 to €8,915
- Tangible fixed assets -€52,270
down €52,270 (-9.1%), from €577,426 to €525,156
of which Land and buildings: -€45,384
- Cash +€18,331
up €18,331 (+82.7%), from €22,176 to €40,508
mainly Stocks and contracts (+€104,912) and Depreciation (+€83,446)
- Trade debts -€102,252
down €102,252 (-87.5%), from €116,838 to €14,586
of which Suppliers: -€72,711
- Debts after one year -€61,075
down €61,075 (-15.4%), from €397,367 to €336,293
- Current portion of long-term debt +€25,632
up €25,632 (+72.3%), from €35,443 to €61,075
- Reserves +€15,276
up €15,276 (+5.0%), from €308,175 to €323,451
of which Distributable reserves: +€15,276
- Gross operating margin -€121,428
down €121,428 (-35.2%), from €344,480 to €223,052
- Staff costs -€39,661
down €39,661 (-28.0%), from €141,833 to €102,172
- Taxes -€24,717
down €24,717 (-78.0%), from €31,700 to €6,983
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 | €938,701 | €811,059 | -€127,641 | -13.6% |
| Fixed assets | 21/28 | €577,825 | €525,156 | -€52,669 | -9.1% |
| Intangible fixed assets | 21 | €399 | €0 | -€399 | -100.0% |
| Tangible fixed assets | 22/27 | €577,426 | €525,156 | -€52,270 | -9.1% |
| Land and buildings | 22 | €532,447 | €487,063 | -€45,384 | -8.5% |
| Plant, machinery and equipment | 23 | €24,533 | €20,682 | -€3,851 | -15.7% |
| Furniture and vehicles | 24 | €20,446 | €17,411 | -€3,035 | -14.8% |
| Current assets | 29/58 | €360,876 | €285,904 | -€74,972 | -20.8% |
| Amounts receivable after more than one year | 29 | €150,000 | €150,000 | = | 0.0% |
| Other amounts receivable | 291 | €150,000 | €150,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €113,827 | €8,915 | -€104,912 | -92.2% |
| Stocks | 30/36 | €113,827 | €8,915 | -€104,912 | -92.2% |
| Amounts receivable within one year | 40/41 | €49,480 | €55,038 | +€5,558 | +11.2% |
| Trade receivables | 40 | €33,855 | €545 | -€33,310 | -98.4% |
| Other amounts receivable | 41 | €15,625 | €54,493 | +€38,868 | +248.8% |
| Cash at bank and in hand | 54/58 | €22,176 | €40,508 | +€18,331 | +82.7% |
| Deferred charges and accrued income | 490/1 | €25,393 | €31,443 | +€6,051 | +23.8% |
| Total equity and liabilities | 10/49 | €938,701 | €811,059 | -€127,641 | -13.6% |
| Equity | 10/15 | €326,775 | €342,051 | +€15,276 | +4.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €308,175 | €323,451 | +€15,276 | +5.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €308,175 | €323,451 | +€15,276 | +5.0% |
| Amounts payable | 17/49 | €611,926 | €469,009 | -€142,918 | -23.4% |
| Amounts payable after more than one year | 17 | €397,367 | €336,293 | -€61,075 | -15.4% |
| Financial debts | 170/4 | €397,367 | €336,293 | -€61,075 | -15.4% |
| Amounts payable within one year | 42/48 | €213,976 | €128,811 | -€85,165 | -39.8% |
| Current portion of amounts payable after more than one year | 42 | €35,443 | €61,075 | +€25,632 | +72.3% |
| Financial debts | 43 | €12,212 | €7,278 | -€4,934 | -40.4% |
| Credit institutions | 430/8 | €276 | €7,278 | +€7,002 | +2538.8% |
| Other loans | 439 | €11,937 | €0 | -€11,937 | -100.0% |
| Trade debts | 44 | €116,838 | €14,586 | -€102,252 | -87.5% |
| Suppliers | 440/4 | €87,297 | €14,586 | -€72,711 | -83.3% |
| Bills of exchange payable | 441 | €29,541 | €0 | -€29,541 | -100.0% |
| Taxes, remuneration and social security | 45 | €49,483 | €45,872 | -€3,610 | -7.3% |
| Taxes | 450/3 | €29,677 | €25,138 | -€4,540 | -15.3% |
| Remuneration and social security | 454/9 | €19,805 | €20,735 | +€929 | +4.7% |
| Accrued charges and deferred income | 492/3 | €583 | €3,905 | +€3,322 | +569.8% |
| Remuneration, social security and pensions | 62 | €141,833 | €102,172 | -€39,661 | -28.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,089 | €83,446 | +€3,357 | +4.2% |
| Other operating charges | 640/8 | €2,916 | €2,885 | -€31 | -1.1% |
| Gross operating margin | 9900 | €344,480 | €223,052 | -€121,428 | -35.2% |
| Operating profit (loss) | 9901 | €119,642 | €34,549 | -€85,093 | -71.1% |
| Financial income | 75/76B | €4,749 | €5,321 | +€572 | +12.0% |
| Recurring financial income | 75 | €4,749 | €5,321 | +€572 | +12.0% |
| Financial charges | 65/66B | €15,871 | €17,610 | +€1,740 | +11.0% |
| Recurring financial charges | 65 | €15,871 | €17,610 | +€1,740 | +11.0% |
| Profit (loss) for the period before taxes | 9903 | €108,520 | €22,259 | -€86,261 | -79.5% |
| Income taxes | 67/77 | €31,700 | €6,983 | -€24,717 | -78.0% |
| Profit (loss) for the period | 9904 | €76,820 | €15,276 | -€61,544 | -80.1% |
| Profit (loss) for the period to be appropriated | 9905 | €76,820 | €15,276 | -€61,544 | -80.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.