Gerlinde Lucker: 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.
Gerlinde Lucker
Largest movements
- Current investments +€50,000
new in 2025: €50,000
- Tangible fixed assets +€30,341
up €30,341 (+123%), from €24,581 to €54,921
of which Furniture and vehicles: +€33,681
- Cash -€21,230
down €21,230 (-49.3%), from €43,037 to €21,807
mainly Current investments (-€50,000) and Investment in fixed assets (net) (-€40,709)
- Receivables within one year +€19,254
new in 2025: €19,254
- Reserves +€51,427
up €51,427 (+158%), from €32,601 to €84,028
- Advances received -€16,303
no longer reported in 2025 (was €16,303)
- Tax, wage and social debts +€15,873
up €15,873 (+402%), from €3,947 to €19,820
- Other debts +€15,222
up €15,222 (+150%), from €10,139 to €25,362
- Debts after one year +€8,047
new in 2025: €8,047
- Gross operating margin +€58,687
up €58,687 (+187%), from €31,379 to €90,066
- Taxes +€19,873
up €19,873 (+334%), from €5,947 to €25,820
- Depreciation +€6,677
up €6,677 (+181%), from €3,691 to €10,368
- Other operating charges +€1,155
up €1,155 (+196%), from €588 to €1,744
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 | €68,334 | €147,142 | +€78,808 | +115% |
| Fixed assets | 21/28 | €24,581 | €54,921 | +€30,341 | +123% |
| Tangible fixed assets | 22/27 | €24,581 | €54,921 | +€30,341 | +123% |
| Plant, machinery and equipment | 23 | €23,180 | €19,839 | -€3,340 | -14.4% |
| Furniture and vehicles | 24 | €1,401 | €35,082 | +€33,681 | +2,404% |
| Current assets | 29/58 | €43,753 | €92,220 | +€48,467 | +111% |
| Amounts receivable within one year | 40/41 | - | €19,254 | +€19,254 | |
| Trade receivables | 40 | - | €19,254 | +€19,254 | |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €43,037 | €21,807 | -€21,230 | -49.3% |
| Deferred charges and accrued income | 490/1 | €717 | €1,159 | +€443 | +61.7% |
| Total equity and liabilities | 10/49 | €68,334 | €147,142 | +€78,808 | +115% |
| Equity | 10/15 | €37,601 | €89,028 | +€51,427 | +137% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €32,601 | €84,028 | +€51,427 | +158% |
| Distributable reserves | 133 | €32,601 | €84,028 | +€51,427 | +158% |
| Amounts payable | 17/49 | €30,733 | €58,113 | +€27,381 | +89.1% |
| Amounts payable after more than one year | 17 | - | €8,047 | +€8,047 | |
| Financial debts | 170/4 | - | €8,047 | +€8,047 | |
| Amounts payable within one year | 42/48 | €30,733 | €49,667 | +€18,934 | +61.6% |
| Current portion of amounts payable after more than one year | 42 | - | €3,680 | +€3,680 | |
| Trade debts | 44 | €343 | €805 | +€462 | +135% |
| Suppliers | 440/4 | €343 | €805 | +€462 | +135% |
| Advances received on contracts in progress | 46 | €16,303 | - | -€16,303 | |
| Taxes, remuneration and social security | 45 | €3,947 | €19,820 | +€15,873 | +402% |
| Taxes | 450/3 | €3,947 | €19,820 | +€15,873 | +402% |
| Other amounts payable | 47/48 | €10,139 | €25,362 | +€15,222 | +150% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,691 | €10,368 | +€6,677 | +181% |
| Other operating charges | 640/8 | €588 | €1,744 | +€1,155 | +196% |
| Gross operating margin | 9900 | €31,379 | €90,066 | +€58,687 | +187% |
| Operating profit (loss) | 9901 | €27,099 | €77,954 | +€50,854 | +188% |
| Financial income | 75/76B | €161 | €275 | +€114 | +70.6% |
| Recurring financial income | 75 | €161 | €275 | +€114 | +70.6% |
| Financial charges | 65/66B | €102 | €982 | +€880 | +861% |
| Recurring financial charges | 65 | €102 | €982 | +€880 | +861% |
| Profit (loss) for the period before taxes | 9903 | €27,159 | €77,247 | +€50,089 | +184% |
| Income taxes | 67/77 | €5,947 | €25,820 | +€19,873 | +334% |
| Profit (loss) for the period | 9904 | €21,212 | €51,427 | +€30,215 | +142% |
| Profit (loss) for the period to be appropriated | 9905 | €21,212 | €51,427 | +€30,215 | +142% |
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 1 November 2026 via checked.be.