FRANSEN LUYTEN: 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.
FRANSEN LUYTEN
Largest movements
- Cash +€141,137
up €141,137 (+86.5%), from €163,179 to €304,316
mainly Short-term financial debts (+€111,435) and Net result for the year (+€105,011)
- Receivables within one year +€47,335
up €47,335 (+17.0%), from €278,674 to €326,009
of which Trade receivables: +€45,535
- Tangible fixed assets -€27,462
down €27,462 (-28.8%), from €95,399 to €67,937
- Short-term financial debts +€111,435
up €111,435 (+63.5%), from €175,540 to €286,974
- Tax, wage and social debts +€35,594
up €35,594 (+71.3%), from €49,929 to €85,523
of which Remuneration and social security: +€30,669
- Reserves +€33,011
up €33,011 (+62.6%), from €52,727 to €85,738
of which Distributable reserves: +€33,011
- Debts after one year -€27,540
down €27,540 (-38.7%), from €71,175 to €43,635
- Trade debts +€12,776
up €12,776 (+31.2%), from €40,975 to €53,751
- Write-downs -€46,194
down €46,194 (-169%), from -€27,373 to -€73,567
- Gross operating margin -€26,863
down €26,863 (-13.1%), from €205,768 to €178,905
- Other operating charges +€10,849
up €10,849 (+1,209%), from €898 to €11,746
- Taxes +€4,366
up €4,366 (+48.1%), from €9,070 to €13,436
- Staff costs +€3,324
up €3,324 (+3.9%), from €85,613 to €88,938
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 | €537,251 | €698,261 | +€161,010 | +30.0% |
| Fixed assets | 21/28 | €95,399 | €67,937 | -€27,462 | -28.8% |
| Tangible fixed assets | 22/27 | €95,399 | €67,937 | -€27,462 | -28.8% |
| Furniture and vehicles | 24 | €95,399 | €67,937 | -€27,462 | -28.8% |
| Current assets | 29/58 | €441,852 | €630,324 | +€188,472 | +42.7% |
| Amounts receivable within one year | 40/41 | €278,674 | €326,009 | +€47,335 | +17.0% |
| Trade receivables | 40 | €278,601 | €324,136 | +€45,535 | +16.3% |
| Other amounts receivable | 41 | €72 | €1,872 | +€1,800 | +2,488% |
| Cash at bank and in hand | 54/58 | €163,179 | €304,316 | +€141,137 | +86.5% |
| Total equity and liabilities | 10/49 | €537,251 | €698,261 | +€161,010 | +30.0% |
| Equity | 10/15 | €54,353 | €87,365 | +€33,011 | +60.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €52,727 | €85,738 | +€33,011 | +62.6% |
| Tax-exempt reserves | 132 | €584 | €584 | = | 0.0% |
| Distributable reserves | 133 | €52,143 | €85,154 | +€33,011 | +63.3% |
| Profit (loss) carried forward | 14 | -€4,573 | -€4,573 | = | 0.0% |
| Amounts payable | 17/49 | €482,898 | €610,896 | +€127,999 | +26.5% |
| Amounts payable after more than one year | 17 | €71,175 | €43,635 | -€27,540 | -38.7% |
| Financial debts | 170/4 | €71,175 | €43,635 | -€27,540 | -38.7% |
| Amounts payable within one year | 42/48 | €411,723 | €562,262 | +€150,538 | +36.6% |
| Current portion of amounts payable after more than one year | 42 | €26,362 | €27,540 | +€1,178 | +4.5% |
| Financial debts | 43 | €175,540 | €286,974 | +€111,435 | +63.5% |
| Credit institutions | 430/8 | €175,540 | €286,974 | +€111,435 | +63.5% |
| Trade debts | 44 | €40,975 | €53,751 | +€12,776 | +31.2% |
| Suppliers | 440/4 | €40,975 | €53,751 | +€12,776 | +31.2% |
| Taxes, remuneration and social security | 45 | €49,929 | €85,523 | +€35,594 | +71.3% |
| Taxes | 450/3 | €7,346 | €12,271 | +€4,925 | +67.0% |
| Remuneration and social security | 454/9 | €42,583 | €73,252 | +€30,669 | +72.0% |
| Other amounts payable | 47/48 | €118,918 | €108,473 | -€10,445 | -8.8% |
| Accrued charges and deferred income | 492/3 | - | €5,000 | +€5,000 | |
| Remuneration, social security and pensions | 62 | €85,613 | €88,938 | +€3,324 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,530 | €27,462 | -€68 | -0.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€27,373 | -€73,567 | -€46,194 | -169% |
| Other operating charges | 640/8 | €898 | €11,746 | +€10,849 | +1,209% |
| Gross operating margin | 9900 | €205,768 | €178,905 | -€26,863 | -13.1% |
| Operating profit (loss) | 9901 | €119,100 | €124,326 | +€5,226 | +4.4% |
| Financial income | 75/76B | €37 | €138 | +€102 | +278% |
| Recurring financial income | 75 | €37 | €138 | +€102 | +278% |
| Financial charges | 65/66B | €7,376 | €6,017 | -€1,359 | -18.4% |
| Recurring financial charges | 65 | €7,376 | €6,017 | -€1,359 | -18.4% |
| Profit (loss) for the period before taxes | 9903 | €111,760 | €118,447 | +€6,687 | +6.0% |
| Income taxes | 67/77 | €9,070 | €13,436 | +€4,366 | +48.1% |
| Profit (loss) for the period | 9904 | €102,690 | €105,011 | +€2,321 | +2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €102,690 | €105,011 | +€2,321 | +2.3% |
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 19 October 2026 via checked.be.