Frans Luyckx: 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.
Frans Luyckx
Largest movements
- Cash -€179,979
down €179,979 (-44.9%), from €400,798 to €220,818
mainly Other debts (-€194,436) and Debts after one year (-€124,368)
- Stocks and contracts +€115,338
up €115,338 (+5.7%), from €2.0m to €2.1m
- Tangible fixed assets -€44,179
down €44,179 (-9.6%), from €459,962 to €415,783
of which Other tangible fixed assets: -€44,895
- Other debts -€194,436
down €194,436 (-42.0%), from €462,478 to €268,043
- Debts after one year -€124,368
down €124,368 (-20.2%), from €614,220 to €489,851
- Reserves +€63,653
up €63,653 (+4.0%), from €1.6m to €1.6m
of which Distributable reserves: +€63,653
- Current portion of long-term debt +€62,809
up €62,809 (+43.3%), from €145,024 to €207,833
- Short-term financial debts +€50,000
up €50,000 (+50.0%), from €100,000 to €150,000
- Staff costs +€43,099
up €43,099 (+18.9%), from €228,486 to €271,585
- Depreciation +€32,288
up €32,288 (+36.9%), from €87,463 to €119,751
- Taxes -€11,022
down €11,022 (-24.0%), from €46,005 to €34,982
- Other operating charges -€6,952
down €6,952 (-36.1%), from €19,242 to €12,290
- Gross operating margin +€6,775
up €6,775 (+1.3%), from €524,125 to €530,900
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 | €3,268,685 | €3,148,625 | -€120,060 | -3.7% |
| Fixed assets | 21/28 | €460,325 | €416,146 | -€44,179 | -9.6% |
| Tangible fixed assets | 22/27 | €459,962 | €415,783 | -€44,179 | -9.6% |
| Plant, machinery and equipment | 23 | €78,523 | €71,964 | -€6,559 | -8.4% |
| Furniture and vehicles | 24 | €191,655 | €198,930 | +€7,275 | +3.8% |
| Other tangible fixed assets | 26 | €189,783 | €144,889 | -€44,895 | -23.7% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €2,808,360 | €2,732,479 | -€75,881 | -2.7% |
| Stocks and contracts in progress | 3 | €2,018,604 | €2,133,942 | +€115,338 | +5.7% |
| Stocks | 30/36 | €2,018,604 | €2,133,942 | +€115,338 | +5.7% |
| Amounts receivable within one year | 40/41 | €388,959 | €373,539 | -€15,420 | -4.0% |
| Trade receivables | 40 | €69,909 | €27,825 | -€42,084 | -60.2% |
| Other amounts receivable | 41 | €319,050 | €345,714 | +€26,664 | +8.4% |
| Cash at bank and in hand | 54/58 | €400,798 | €220,818 | -€179,979 | -44.9% |
| Deferred charges and accrued income | 490/1 | - | €4,180 | +€4,180 | |
| Total equity and liabilities | 10/49 | €3,268,685 | €3,148,625 | -€120,060 | -3.7% |
| Equity | 10/15 | €1,824,366 | €1,888,020 | +€63,653 | +3.5% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €1,574,366 | €1,638,020 | +€63,653 | +4.0% |
| Non-distributable reserves | 130/1 | €22,112 | €22,112 | = | 0.0% |
| Reserves not available under the articles | 1311 | €22,112 | €22,112 | = | 0.0% |
| Distributable reserves | 133 | €1,552,255 | €1,615,908 | +€63,653 | +4.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,444,319 | €1,260,605 | -€183,713 | -12.7% |
| Amounts payable after more than one year | 17 | €614,220 | €489,851 | -€124,368 | -20.2% |
| Financial debts | 170/4 | €614,220 | €489,851 | -€124,368 | -20.2% |
| Amounts payable within one year | 42/48 | €788,892 | €726,858 | -€62,034 | -7.9% |
| Current portion of amounts payable after more than one year | 42 | €145,024 | €207,833 | +€62,809 | +43.3% |
| Financial debts | 43 | €100,000 | €150,000 | +€50,000 | +50.0% |
| Credit institutions | 430/8 | €100,000 | €150,000 | +€50,000 | +50.0% |
| Trade debts | 44 | €36,076 | €41,557 | +€5,481 | +15.2% |
| Suppliers | 440/4 | €36,076 | €41,557 | +€5,481 | +15.2% |
| Taxes, remuneration and social security | 45 | €45,314 | €59,425 | +€14,111 | +31.1% |
| Taxes | 450/3 | €14,692 | €23,896 | +€9,204 | +62.6% |
| Remuneration and social security | 454/9 | €30,622 | €35,529 | +€4,907 | +16.0% |
| Other amounts payable | 47/48 | €462,478 | €268,043 | -€194,436 | -42.0% |
| Accrued charges and deferred income | 492/3 | €41,207 | €43,896 | +€2,689 | +6.5% |
| Remuneration, social security and pensions | 62 | €228,486 | €271,585 | +€43,099 | +18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,463 | €119,751 | +€32,288 | +36.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €19,242 | €12,290 | -€6,952 | -36.1% |
| Gross operating margin | 9900 | €524,125 | €530,900 | +€6,775 | +1.3% |
| Operating profit (loss) | 9901 | €188,934 | €127,273 | -€61,661 | -32.6% |
| Financial income | 75/76B | €0 | €7 | +€7 | |
| Recurring financial income | 75 | €0 | €7 | +€7 | |
| Financial charges | 65/66B | €32,922 | €28,645 | -€4,277 | -13.0% |
| Recurring financial charges | 65 | €32,922 | €28,645 | -€4,277 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | €156,012 | €98,636 | -€57,377 | -36.8% |
| Income taxes | 67/77 | €46,005 | €34,982 | -€11,022 | -24.0% |
| Profit (loss) for the period | 9904 | €110,008 | €63,653 | -€46,354 | -42.1% |
| Profit (loss) for the period to be appropriated | 9905 | €110,008 | €63,653 | -€46,354 | -42.1% |
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 28 October 2026 via checked.be.