LU'S PARAGRAPH: 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.
LU'S PARAGRAPH
Largest movements
- Receivables within one year -€14,153
down €14,153 (-54.3%), from €26,063 to €11,910
of which Trade receivables: -€19,136
- Cash -€1,915
down €1,915 (-2.6%), from €72,934 to €71,019
mainly Tax, wage and social debts (-€12,201) and Net result for the year (-€7,018)
- Tangible fixed assets -€1,374
down €1,374 (-54.0%), from €2,545 to €1,171
- Tax, wage and social debts -€12,201
down €12,201 (-97.6%), from €12,496 to €295
of which Remuneration and social security: -€8,309
- Profit (loss) carried forward -€7,018
down €7,018 (-80.7%), from -€8,696 to -€15,714
- Trade debts +€4,457
up €4,457 (+25.2%), from €17,655 to €22,112
- Other debts -€3,600
down €3,600 (-5.5%), from €65,071 to €61,471
- Staff costs -€43,504
down €43,504 (-91.0%), from €47,791 to €4,287
- Gross operating margin -€26,706
down €26,706, from €26,588 to -€118
- Depreciation -€1,148
down €1,148 (-45.5%), from €2,522 to €1,374
- Taxes +€285
new in 2025: €285
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.
Cash bridge derived
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 | €104,586 | €86,224 | -€18,362 | -17.6% |
| Fixed assets | 21/28 | €2,545 | €1,171 | -€1,374 | -54.0% |
| Tangible fixed assets | 22/27 | €2,545 | €1,171 | -€1,374 | -54.0% |
| Plant, machinery and equipment | 23 | €2,545 | €1,171 | -€1,374 | -54.0% |
| Current assets | 29/58 | €102,041 | €85,053 | -€16,988 | -16.6% |
| Amounts receivable within one year | 40/41 | €26,063 | €11,910 | -€14,153 | -54.3% |
| Trade receivables | 40 | €26,063 | €6,927 | -€19,136 | -73.4% |
| Other amounts receivable | 41 | - | €4,983 | +€4,983 | |
| Cash at bank and in hand | 54/58 | €72,934 | €71,019 | -€1,915 | -2.6% |
| Deferred charges and accrued income | 490/1 | €3,044 | €2,124 | -€920 | -30.2% |
| Total equity and liabilities | 10/49 | €104,586 | €86,224 | -€18,362 | -17.6% |
| Equity | 10/15 | €9,364 | €2,346 | -€7,018 | -74.9% |
| Contributions | 10/11 | €16,200 | €16,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,696 | -€15,714 | -€7,018 | -80.7% |
| Amounts payable | 17/49 | €95,222 | €83,878 | -€11,344 | -11.9% |
| Amounts payable within one year | 42/48 | €95,222 | €83,878 | -€11,344 | -11.9% |
| Trade debts | 44 | €17,655 | €22,112 | +€4,457 | +25.2% |
| Suppliers | 440/4 | €17,655 | €22,112 | +€4,457 | +25.2% |
| Taxes, remuneration and social security | 45 | €12,496 | €295 | -€12,201 | -97.6% |
| Taxes | 450/3 | €4,187 | €295 | -€3,892 | -93.0% |
| Remuneration and social security | 454/9 | €8,309 | - | -€8,309 | |
| Other amounts payable | 47/48 | €65,071 | €61,471 | -€3,600 | -5.5% |
| Remuneration, social security and pensions | 62 | €47,791 | €4,287 | -€43,504 | -91.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,522 | €1,374 | -€1,148 | -45.5% |
| Other operating charges | 640/8 | €1,035 | €884 | -€151 | -14.6% |
| Gross operating margin | 9900 | €26,588 | -€118 | -€26,706 | |
| Operating profit (loss) | 9901 | -€24,760 | -€6,663 | +€18,097 | +73.1% |
| Financial charges | 65/66B | €40 | €70 | +€30 | +75.0% |
| Recurring financial charges | 65 | €40 | €70 | +€30 | +75.0% |
| Profit (loss) for the period before taxes | 9903 | -€24,800 | -€6,733 | +€18,067 | +72.9% |
| Income taxes | 67/77 | - | €285 | +€285 | |
| Profit (loss) for the period | 9904 | -€24,800 | -€7,018 | +€17,782 | +71.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,800 | -€7,018 | +€17,782 | +71.7% |
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 10 October 2026 via checked.be.