DR. LUC VANLOMMEL: 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.
DR. LUC VANLOMMEL
Largest movements
- Cash +€99,707
up €99,707 (+44.9%), from €222,109 to €321,816
mainly Other debts (+€442,488) and Net result for the year (+€356,265)
- Receivables within one year -€45,822
down €45,822 (-42.6%), from €107,515 to €61,693
- Current investments +€21,303
up €21,303 (+4.7%), from €454,422 to €475,725
- Deferred charges and accrued income +€16,024
up €16,024 (+6.2%), from €259,417 to €275,441
- Other debts +€442,488
new in 2025: €442,488
- Reserves -€314,812
down €314,812 (-32.4%), from €970,883 to €656,071
- Current portion of long-term debt -€33,369
down €33,369 (-33.9%), from €98,498 to €65,129
- Debts after one year -€26,980
down €26,980 (-9.4%), from €287,131 to €260,151
- Tax, wage and social debts +€15,619
up €15,619 (+36.5%), from €42,843 to €58,462
of which Taxes: +€15,619
- Gross operating margin +€42,389
up €42,389 (+9.0%), from €473,135 to €515,524
- Taxes -€20,080
down €20,080 (-15.0%), from €134,124 to €114,044
- Financial income +€6,332
up €6,332 (+47.4%), from €13,363 to €19,695
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 | €1,414,110 | €1,503,630 | +€89,520 | +6.3% |
| Fixed assets | 21/28 | €370,648 | €368,956 | -€1,692 | -0.5% |
| Tangible fixed assets | 22/27 | €370,648 | €368,956 | -€1,692 | -0.5% |
| Land and buildings | 22 | €259,372 | €288,425 | +€29,053 | +11.2% |
| Plant, machinery and equipment | 23 | €16,469 | €12,144 | -€4,324 | -26.3% |
| Furniture and vehicles | 24 | €83,770 | €57,350 | -€26,420 | -31.5% |
| Other tangible fixed assets | 26 | €11,037 | €11,037 | = | 0.0% |
| Current assets | 29/58 | €1,043,462 | €1,134,674 | +€91,211 | +8.7% |
| Amounts receivable within one year | 40/41 | €107,515 | €61,693 | -€45,822 | -42.6% |
| Other amounts receivable | 41 | €107,515 | €61,693 | -€45,822 | -42.6% |
| Current investments | 50/53 | €454,422 | €475,725 | +€21,303 | +4.7% |
| Cash at bank and in hand | 54/58 | €222,109 | €321,816 | +€99,707 | +44.9% |
| Deferred charges and accrued income | 490/1 | €259,417 | €275,441 | +€16,024 | +6.2% |
| Total equity and liabilities | 10/49 | €1,414,110 | €1,503,630 | +€89,520 | +6.3% |
| Equity | 10/15 | €975,883 | €661,071 | -€314,812 | -32.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €970,883 | €656,071 | -€314,812 | -32.4% |
| Distributable reserves | 133 | €970,883 | €656,071 | -€314,812 | -32.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €438,228 | €842,559 | +€404,332 | +92.3% |
| Amounts payable after more than one year | 17 | €287,131 | €260,151 | -€26,980 | -9.4% |
| Financial debts | 170/4 | €287,131 | €260,151 | -€26,980 | -9.4% |
| Amounts payable within one year | 42/48 | €151,097 | €581,609 | +€430,512 | +285% |
| Current portion of amounts payable after more than one year | 42 | €98,498 | €65,129 | -€33,369 | -33.9% |
| Trade debts | 44 | €9,756 | €15,530 | +€5,774 | +59.2% |
| Suppliers | 440/4 | €9,756 | €15,530 | +€5,774 | +59.2% |
| Taxes, remuneration and social security | 45 | €42,843 | €58,462 | +€15,619 | +36.5% |
| Taxes | 450/3 | €40,093 | €55,712 | +€15,619 | +39.0% |
| Remuneration and social security | 454/9 | €2,750 | €2,750 | = | 0.0% |
| Other amounts payable | 47/48 | - | €442,488 | +€442,488 | |
| Accrued charges and deferred income | 492/3 | €0 | €800 | +€800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,359 | €48,182 | +€2,823 | +6.2% |
| Other operating charges | 640/8 | €2,266 | €2,926 | +€660 | +29.1% |
| Gross operating margin | 9900 | €473,135 | €515,524 | +€42,389 | +9.0% |
| Operating profit (loss) | 9901 | €425,510 | €464,416 | +€38,906 | +9.1% |
| Financial income | 75/76B | €13,363 | €19,695 | +€6,332 | +47.4% |
| Recurring financial income | 75 | €13,363 | €19,695 | +€6,332 | +47.4% |
| Financial charges | 65/66B | €10,913 | €13,802 | +€2,889 | +26.5% |
| Recurring financial charges | 65 | €10,913 | €13,802 | +€2,889 | +26.5% |
| Profit (loss) for the period before taxes | 9903 | €427,960 | €470,309 | +€42,349 | +9.9% |
| Income taxes | 67/77 | €134,124 | €114,044 | -€20,080 | -15.0% |
| Profit (loss) for the period | 9904 | €293,836 | €356,265 | +€62,429 | +21.2% |
| Profit (loss) for the period to be appropriated | 9905 | €293,836 | €356,265 | +€62,429 | +21.2% |
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 21 October 2026 via checked.be.