DE SUTTER LUC: 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 SUTTER LUC
Largest movements
- Cash +€565,178
up €565,178 (+698%), from €80,962 to €646,140
mainly Current investments (+€556,297) and Net result for the year (+€15,160)
- Current investments -€556,297
down €556,297 (-78.8%), from €706,297 to €150,000
- Reserves +€12,500
up €12,500 (+4.4%), from €282,592 to €295,092
of which Non-distributable reserves: +€12,500
- Gross operating margin +€40,657
up €40,657, from -€27,403 to €13,254
- Financial income +€14,308
up €14,308 (+353%), from €4,052 to €18,360
- Taxes +€9,070
up €9,070 (+141%), from €6,414 to €15,484
- Depreciation -€1,074
no longer reported in 2025 (was €1,074)
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 | €790,722 | €796,217 | +€5,495 | +0.7% |
| Fixed assets | 21/28 | €25 | - | -€25 | |
| Financial fixed assets | 28 | €25 | - | -€25 | |
| Current assets | 29/58 | €790,697 | €796,217 | +€5,520 | +0.7% |
| Amounts receivable within one year | 40/41 | €3,438 | €77 | -€3,361 | -97.8% |
| Trade receivables | 40 | €1,666 | - | -€1,666 | |
| Other amounts receivable | 41 | €1,772 | €77 | -€1,695 | -95.7% |
| Current investments | 50/53 | €706,297 | €150,000 | -€556,297 | -78.8% |
| Cash at bank and in hand | 54/58 | €80,962 | €646,140 | +€565,178 | +698% |
| Total equity and liabilities | 10/49 | €790,722 | €796,217 | +€5,495 | +0.7% |
| Equity | 10/15 | €740,858 | €756,018 | +€15,160 | +2.0% |
| Contributions | 10/11 | €8,057 | €8,057 | = | 0.0% |
| Reserves | 13 | €282,592 | €295,092 | +€12,500 | +4.4% |
| Non-distributable reserves | 130/1 | €237,000 | €249,500 | +€12,500 | +5.3% |
| Other | 1319 | €237,000 | €249,500 | +€12,500 | +5.3% |
| Tax-exempt reserves | 132 | €45,592 | €45,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | €450,209 | €452,869 | +€2,660 | +0.6% |
| Amounts payable | 17/49 | €49,864 | €40,199 | -€9,665 | -19.4% |
| Amounts payable within one year | 42/48 | €46,264 | €36,549 | -€9,715 | -21.0% |
| Trade debts | 44 | €1,111 | €750 | -€361 | -32.5% |
| Suppliers | 440/4 | €1,111 | €750 | -€361 | -32.5% |
| Taxes, remuneration and social security | 45 | €3,000 | €1,250 | -€1,750 | -58.3% |
| Taxes | 450/3 | €3,000 | €1,250 | -€1,750 | -58.3% |
| Other amounts payable | 47/48 | €42,153 | €34,549 | -€7,604 | -18.0% |
| Accrued charges and deferred income | 492/3 | €3,600 | €3,650 | +€50 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,074 | - | -€1,074 | |
| Other operating charges | 640/8 | €708 | €544 | -€164 | -23.2% |
| Gross operating margin | 9900 | -€27,403 | €13,254 | +€40,657 | |
| Operating profit (loss) | 9901 | -€29,185 | €12,710 | +€41,895 | |
| Financial income | 75/76B | €4,052 | €18,360 | +€14,308 | +353% |
| Recurring financial income | 75 | €4,052 | €18,360 | +€14,308 | +353% |
| Financial charges | 65/66B | €166 | €426 | +€260 | +157% |
| Recurring financial charges | 65 | €166 | €426 | +€260 | +157% |
| Profit (loss) for the period before taxes | 9903 | -€25,299 | €30,644 | +€55,943 | |
| Income taxes | 67/77 | €6,414 | €15,484 | +€9,070 | +141% |
| Profit (loss) for the period | 9904 | -€31,713 | €15,160 | +€46,873 | |
| Profit (loss) for the period to be appropriated | 9905 | -€31,713 | €15,160 | +€46,873 |
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 15 October 2026 via checked.be.