GEORGES LUX: 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.
What changed
GEORGES LUX
NACE 47.521, Retail sale of hardware, building materials, paint and glass (general range)
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€80,126
2024 · -€114,365+€194,490
Equity
€807,304
2024 · €792,512+€14,792
Cash
€47,678
2024 · €35,426+€12,252
Balance sheet total
€1.1m
2024 · €1.1m-€49,121
Largest movements
Assets
- Tangible fixed assets -€87,039
down €87,039 (-28.5%), from €304,958 to €217,919
of which Land and buildings: -€97,931
- Current investments +€17,500
up €17,500 (+351%), from €4,980 to €22,480
- Cash +€12,252
up €12,252 (+34.6%), from €35,426 to €47,678
mainly Net result for the year (+€80,126) and Debts after one year (+€58,789)
Equity and liabilities
- Revaluation surpluses -€90,077
down €90,077 (-36.3%), from €248,320 to €158,242
- Profit (loss) carried forward +€79,755
up €79,755, from -€72,710 to €7,045
- Trade debts -€62,082
down €62,082 (-36.4%), from €170,401 to €108,318
- Debts after one year +€58,789
up €58,789 (+245%), from €24,000 to €82,789
of which Other amounts payable: +€36,000
- Short-term financial debts -€50,009
down €50,009 (-72.1%), from €69,351 to €19,342
Income statement
- Gross operating margin +€210,899
up €210,899 (+99.6%), from €211,641 to €422,540
- Other operating charges +€12,351
up €12,351 (+99.1%), from €12,465 to €24,815
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.
Result 2024
-€114,365
Gross operating margin
+€210,899
Staff costs
-€3,652
Depreciation
+€3,898
Write-downs
-€1,994
Other operating charges
-€12,351
Financial income
+€2,512
Financial charges
-€3,933
Taxes
-€889
Result 2025
€80,126
raises the resultlowers the result
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.
From operations
+€36,197
Investment
+€29,085
Financing
-€53,030
Cash 2024
€35,426
From operations (derived)
+€36,197
Net result for the year
+€80,126
Depreciation
+€40,889
Stocks and contracts
+€2,357
Receivables within one year
-€9,949
Deferred charges and accrued income
-€1,009
Trade debts
-€62,082
Tax, wage and social debts
-€10,797
Advances received
-€877
Other debts
-€2,461
Investment (derived)
+€29,085
Investment in fixed assets (net)
+€46,585
Current investments
-€17,500
Financing
-€53,030
Debts after one year
+€58,789
Current portion of long-term debt
+€3,523
Short-term financial debts
-€50,009
Contributions, distributions and other
-€65,334
Cash 2025
€47,678
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,111,187 | €1,062,066 | -€49,121 | -4.4% |
| Fixed assets | 21/28 | €335,760 | €248,287 | -€87,474 | -26.1% |
| Tangible fixed assets | 22/27 | €304,958 | €217,919 | -€87,039 | -28.5% |
| Land and buildings | 22 | €276,121 | €178,189 | -€97,931 | -35.5% |
| Plant, machinery and equipment | 23 | €5,748 | €4,580 | -€1,168 | -20.3% |
| Furniture and vehicles | 24 | €23,089 | €10,304 | -€12,785 | -55.4% |
| Assets under construction and advance payments | 27 | - | €24,846 | +€24,846 | |
| Financial fixed assets | 28 | €30,802 | €30,368 | -€435 | -1.4% |
| Current assets | 29/58 | €775,427 | €813,779 | +€38,352 | +4.9% |
| Stocks and contracts in progress | 3 | €530,457 | €528,100 | -€2,357 | -0.4% |
| Stocks | 30/36 | €530,457 | €528,100 | -€2,357 | -0.4% |
| Amounts receivable within one year | 40/41 | €195,922 | €205,870 | +€9,949 | +5.1% |
| Trade receivables | 40 | €180,325 | €189,119 | +€8,794 | +4.9% |
| Other amounts receivable | 41 | €15,597 | €16,751 | +€1,155 | +7.4% |
| Current investments | 50/53 | €4,980 | €22,480 | +€17,500 | +351% |
| Cash at bank and in hand | 54/58 | €35,426 | €47,678 | +€12,252 | +34.6% |
| Deferred charges and accrued income | 490/1 | €8,642 | €9,651 | +€1,009 | +11.7% |
| Total equity and liabilities | 10/49 | €1,111,187 | €1,062,066 | -€49,121 | -4.4% |
| Equity | 10/15 | €792,512 | €807,304 | +€14,792 | +1.9% |
| Contributions | 10/11 | €531,000 | €531,000 | = | 0.0% |
| Capital | 10 | €531,000 | €531,000 | = | 0.0% |
| Issued capital | 100 | €531,000 | €531,000 | = | 0.0% |
| Revaluation surpluses | 12 | €248,320 | €158,242 | -€90,077 | -36.3% |
| Reserves | 13 | €85,902 | €111,017 | +€25,115 | +29.2% |
| Non-distributable reserves | 130/1 | €46,802 | €47,173 | +€371 | +0.8% |
| Legal reserve | 130 | €46,700 | €47,071 | +€371 | +0.8% |
| Reserves not available under the articles | 1311 | €102 | €102 | = | 0.0% |
| Tax-exempt reserves | 132 | €39,100 | €39,100 | = | 0.0% |
| Distributable reserves | 133 | €0 | €24,744 | +€24,744 | |
| Profit (loss) carried forward | 14 | -€72,710 | €7,045 | +€79,755 | |
| Amounts payable | 17/49 | €318,675 | €254,762 | -€63,913 | -20.1% |
| Amounts payable after more than one year | 17 | €24,000 | €82,789 | +€58,789 | +245% |
| Financial debts | 170/4 | €0 | €22,789 | +€22,789 | |
| Other amounts payable | 178/9 | €24,000 | €60,000 | +€36,000 | +150% |
| Amounts payable within one year | 42/48 | €294,675 | €171,973 | -€122,702 | -41.6% |
| Current portion of amounts payable after more than one year | 42 | €6,086 | €9,609 | +€3,523 | +57.9% |
| Financial debts | 43 | €69,351 | €19,342 | -€50,009 | -72.1% |
| Credit institutions | 430/8 | €69,351 | €19,342 | -€50,009 | -72.1% |
| Trade debts | 44 | €170,401 | €108,318 | -€62,082 | -36.4% |
| Suppliers | 440/4 | €170,401 | €108,318 | -€62,082 | -36.4% |
| Advances received on contracts in progress | 46 | €3,894 | €3,017 | -€877 | -22.5% |
| Taxes, remuneration and social security | 45 | €42,483 | €31,686 | -€10,797 | -25.4% |
| Taxes | 450/3 | €19,676 | €10,105 | -€9,571 | -48.6% |
| Remuneration and social security | 454/9 | €22,807 | €21,580 | -€1,226 | -5.4% |
| Other amounts payable | 47/48 | €2,461 | - | -€2,461 | |
| Remuneration, social security and pensions | 62 | €261,379 | €265,032 | +€3,652 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,787 | €40,889 | -€3,898 | -8.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €1,994 | +€1,994 | |
| Other operating charges | 640/8 | €12,465 | €24,815 | +€12,351 | +99.1% |
| Gross operating margin | 9900 | €211,641 | €422,540 | +€210,899 | +99.6% |
| Operating profit (loss) | 9901 | -€106,990 | €89,810 | +€196,801 | |
| Financial income | 75/76B | €5,433 | €7,945 | +€2,512 | +46.2% |
| Recurring financial income | 75 | €1,299 | €2,333 | +€1,034 | +79.6% |
| Non-recurring financial income | 76B | €4,134 | €5,612 | +€1,478 | +35.8% |
| Financial charges | 65/66B | €12,409 | €16,342 | +€3,933 | +31.7% |
| Recurring financial charges | 65 | €10,763 | €12,408 | +€1,644 | +15.3% |
| Non-recurring financial charges | 66B | €1,646 | €3,935 | +€2,289 | +139% |
| Profit (loss) for the period before taxes | 9903 | -€113,966 | €81,413 | +€195,379 | |
| Income taxes | 67/77 | €398 | €1,288 | +€889 | +223% |
| Profit (loss) for the period | 9904 | -€114,365 | €80,126 | +€194,490 | |
| Profit (loss) for the period to be appropriated | 9905 | -€114,365 | €80,126 | +€194,490 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.