LUC AERTS: 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.
LUC AERTS
Largest movements
- Tangible fixed assets -€10,517
down €10,517 (-32.8%), from €32,072 to €21,555
- Cash -€1,880
down €1,880 (-24.6%), from €7,657 to €5,776
mainly Debts after one year (-€10,520) and Net result for the year (-€3,699)
- Debts after one year -€10,520
down €10,520 (-44.9%), from €23,415 to €12,895
- Short-term financial debts +€4,393
up €4,393 (+15.5%), from €28,256 to €32,648
- Profit (loss) carried forward -€3,699
down €3,699 (-4.1%), from -€90,629 to -€94,328
- Other debts -€3,313
down €3,313 (-95.2%), from €3,481 to €168
- Current portion of long-term debt +€561
up €561 (+5.6%), from €10,052 to €10,612
- Gross operating margin -€4,721
down €4,721 (-21.8%), from €21,635 to €16,914
- Other operating charges +€4,552
up €4,552 (+829%), from €549 to €5,101
- Write-downs -€4,257
new in 2025: -€4,257
- Financial charges +€4,122
up €4,122 (+97.5%), from €4,228 to €8,350
- Taxes -€1,434
down €1,434 (-61.4%), from €2,335 to €901
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 | €42,866 | €30,461 | -€12,405 | -28.9% |
| Fixed assets | 21/28 | €32,072 | €21,555 | -€10,517 | -32.8% |
| Tangible fixed assets | 22/27 | €32,072 | €21,555 | -€10,517 | -32.8% |
| Furniture and vehicles | 24 | €32,072 | €21,555 | -€10,517 | -32.8% |
| Current assets | 29/58 | €10,794 | €8,905 | -€1,888 | -17.5% |
| Amounts receivable within one year | 40/41 | €2,893 | €2,801 | -€93 | -3.2% |
| Other amounts receivable | 41 | €2,893 | €2,801 | -€93 | -3.2% |
| Cash at bank and in hand | 54/58 | €7,657 | €5,776 | -€1,880 | -24.6% |
| Deferred charges and accrued income | 490/1 | €244 | €328 | +€85 | +34.7% |
| Total equity and liabilities | 10/49 | €42,866 | €30,461 | -€12,405 | -28.9% |
| Equity | 10/15 | -€24,572 | -€28,271 | -€3,699 | -15.1% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €59,859 | €59,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Other | 1319 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €58,000 | €58,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€90,629 | -€94,328 | -€3,699 | -4.1% |
| Amounts payable | 17/49 | €67,438 | €58,732 | -€8,706 | -12.9% |
| Amounts payable after more than one year | 17 | €23,415 | €12,895 | -€10,520 | -44.9% |
| Financial debts | 170/4 | €23,415 | €12,895 | -€10,520 | -44.9% |
| Amounts payable within one year | 42/48 | €44,023 | €45,837 | +€1,814 | +4.1% |
| Current portion of amounts payable after more than one year | 42 | €10,052 | €10,612 | +€561 | +5.6% |
| Financial debts | 43 | €28,256 | €32,648 | +€4,393 | +15.5% |
| Credit institutions | 430/8 | €28,256 | €32,648 | +€4,393 | +15.5% |
| Trade debts | 44 | €2,235 | €2,408 | +€173 | +7.8% |
| Suppliers | 440/4 | €2,235 | €2,408 | +€173 | +7.8% |
| Other amounts payable | 47/48 | €3,481 | €168 | -€3,313 | -95.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,705 | €10,517 | -€188 | -1.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€4,257 | -€4,257 | |
| Other operating charges | 640/8 | €549 | €5,101 | +€4,552 | +829% |
| Gross operating margin | 9900 | €21,635 | €16,914 | -€4,721 | -21.8% |
| Operating profit (loss) | 9901 | €10,380 | €5,552 | -€4,828 | -46.5% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €4,228 | €8,350 | +€4,122 | +97.5% |
| Recurring financial charges | 65 | €4,228 | €8,350 | +€4,122 | +97.5% |
| Profit (loss) for the period before taxes | 9903 | €6,152 | -€2,798 | -€8,950 | |
| Income taxes | 67/77 | €2,335 | €901 | -€1,434 | -61.4% |
| Profit (loss) for the period | 9904 | €3,817 | -€3,699 | -€7,516 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,817 | -€3,699 | -€7,516 |
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 14 October 2026 via checked.be.