E. LUYSTERBORG: 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.
E. LUYSTERBORG
Largest movements
- Receivables after one year -€617,450
no longer reported in 2025 (was €617,450)
- Cash +€129,994
up €129,994 (+614%), from €21,166 to €151,160
mainly Receivables after one year (+€617,450) and Net result for the year (+€206,647)
- Receivables within one year +€67,207
up €67,207 (+13.1%), from €513,199 to €580,406
of which Other amounts receivable: +€73,909
- Tangible fixed assets -€35,807
down €35,807 (-2.0%), from €1.8m to €1.7m
of which Land and buildings: -€57,262
- Accrued charges and deferred income -€481,652
down €481,652 (-50.0%), from €963,305 to €481,652
- Reserves +€204,786
up €204,786 (+34.7%), from €589,505 to €794,292
of which Distributable reserves: +€210,000
- Debts after one year -€73,433
down €73,433 (-17.8%), from €412,991 to €339,558
- Short-term financial debts -€72,500
no longer reported in 2025 (was €72,500)
- Current portion of long-term debt -€30,691
down €30,691 (-29.7%), from €103,382 to €72,691
- Depreciation +€10,946
up €10,946 (+15.0%), from €72,762 to €83,709
- Taxes +€9,945
up €9,945 (+8.8%), from €113,300 to €123,245
- Other operating charges +€5,970
up €5,970 (+75.4%), from €7,918 to €13,889
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 | €2,944,545 | €2,507,077 | -€437,468 | -14.9% |
| Fixed assets | 21/28 | €1,770,062 | €1,734,255 | -€35,807 | -2.0% |
| Tangible fixed assets | 22/27 | €1,770,062 | €1,734,255 | -€35,807 | -2.0% |
| Land and buildings | 22 | €1,643,753 | €1,586,491 | -€57,262 | -3.5% |
| Plant, machinery and equipment | 23 | €1,296 | €24,955 | +€23,659 | +1,825% |
| Furniture and vehicles | 24 | €111,013 | €98,908 | -€12,105 | -10.9% |
| Other tangible fixed assets | 26 | €14,000 | €23,900 | +€9,900 | +70.7% |
| Current assets | 29/58 | €1,174,482 | €772,822 | -€401,661 | -34.2% |
| Amounts receivable after more than one year | 29 | €617,450 | - | -€617,450 | |
| Other amounts receivable | 291 | €617,450 | - | -€617,450 | |
| Amounts receivable within one year | 40/41 | €513,199 | €580,406 | +€67,207 | +13.1% |
| Trade receivables | 40 | €54,527 | €47,825 | -€6,701 | -12.3% |
| Other amounts receivable | 41 | €458,672 | €532,580 | +€73,909 | +16.1% |
| Cash at bank and in hand | 54/58 | €21,166 | €151,160 | +€129,994 | +614% |
| Deferred charges and accrued income | 490/1 | €22,668 | €41,256 | +€18,588 | +82.0% |
| Total equity and liabilities | 10/49 | €2,944,545 | €2,507,077 | -€437,468 | -14.9% |
| Equity | 10/15 | €1,204,694 | €1,411,340 | +€206,647 | +17.2% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €589,505 | €794,292 | +€204,786 | +34.7% |
| Tax-exempt reserves | 132 | €120,505 | €115,292 | -€5,214 | -4.3% |
| Distributable reserves | 133 | €469,000 | €679,000 | +€210,000 | +44.8% |
| Profit (loss) carried forward | 14 | €585,188 | €587,049 | +€1,860 | +0.3% |
| Provisions and deferred taxes | 16 | €62,051 | €59,366 | -€2,685 | -4.3% |
| Deferred taxes | 168 | €62,051 | €59,366 | -€2,685 | -4.3% |
| Amounts payable | 17/49 | €1,677,800 | €1,036,370 | -€641,430 | -38.2% |
| Amounts payable after more than one year | 17 | €412,991 | €339,558 | -€73,433 | -17.8% |
| Financial debts | 170/4 | €412,991 | €339,558 | -€73,433 | -17.8% |
| Amounts payable within one year | 42/48 | €301,505 | €215,160 | -€86,345 | -28.6% |
| Current portion of amounts payable after more than one year | 42 | €103,382 | €72,691 | -€30,691 | -29.7% |
| Financial debts | 43 | €72,500 | - | -€72,500 | |
| Credit institutions | 430/8 | €72,500 | - | -€72,500 | |
| Trade debts | 44 | €28,109 | €30,005 | +€1,896 | +6.7% |
| Suppliers | 440/4 | €28,109 | €30,005 | +€1,896 | +6.7% |
| Taxes, remuneration and social security | 45 | €78,600 | €105,071 | +€26,471 | +33.7% |
| Taxes | 450/3 | €78,600 | €105,071 | +€26,471 | +33.7% |
| Other amounts payable | 47/48 | €18,914 | €7,394 | -€11,520 | -60.9% |
| Accrued charges and deferred income | 492/3 | €963,305 | €481,652 | -€481,652 | -50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,762 | €83,709 | +€10,946 | +15.0% |
| Other operating charges | 640/8 | €7,918 | €13,889 | +€5,970 | +75.4% |
| Gross operating margin | 9900 | €422,495 | €423,757 | +€1,261 | +0.3% |
| Operating profit (loss) | 9901 | €341,815 | €326,159 | -€15,655 | -4.6% |
| Financial income | 75/76B | €33,027 | €33,698 | +€671 | +2.0% |
| Recurring financial income | 75 | €33,027 | €33,698 | +€671 | +2.0% |
| Financial charges | 65/66B | €32,225 | €32,650 | +€425 | +1.3% |
| Recurring financial charges | 65 | €32,225 | €32,650 | +€425 | +1.3% |
| Profit (loss) for the period before taxes | 9903 | €342,617 | €327,207 | -€15,410 | -4.5% |
| Transfer from deferred taxes | 780 | €2,685 | €2,685 | = | 0.0% |
| Income taxes | 67/77 | €113,300 | €123,245 | +€9,945 | +8.8% |
| Profit (loss) for the period | 9904 | €232,002 | €206,647 | -€25,355 | -10.9% |
| Transfer from tax-exempt reserves | 789 | €5,214 | €5,214 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €237,215 | €211,860 | -€25,355 | -10.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.