LUC BAECK: what changed
LUC BAECK
Largest movements
- Receivables within one year +€28,979
up €28,979 (+1,355%), from €2,139 to €31,118
of which Trade receivables: +€24,320
- Tangible fixed assets -€24,274
down €24,274 (-41.7%), from €58,217 to €33,943
of which Furniture and vehicles: -€21,083
- Cash -€3,913
down €3,913 (-20.7%), from €18,883 to €14,970
mainly Receivables within one year (-€28,979) and Current portion of long-term debt (-€9,445)
- Reserves +€21,145
up €21,145 (+15.2%), from €138,934 to €160,079
of which Distributable reserves: +€21,145
- Current portion of long-term debt -€9,445
down €9,445 (-100%), from €9,445 to €0
- Debts after one year -€5,999
down €5,999 (-100%), from €5,999 to €0
- Other debts -€4,199
down €4,199 (-100%), from €4,199 to €0
- Depreciation -€9,443
down €9,443 (-73.4%), from €12,873 to €3,430
- Gross operating margin +€8,033
up €8,033 (+29.1%), from €27,575 to €35,608
- Taxes +€5,818
up €5,818 (+122%), from €4,755 to €10,573
- Financial charges -€3,815
down €3,815, from €3,616 to -€199
- Financial income -€1,114
down €1,114 (-33.2%), from €3,355 to €2,241
of which Non-recurring financial income: -€728
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €178,913 | €180,548 | +€1,634 | +0.9% |
| Fixed assets | 21/28 | €58,467 | €34,193 | -€24,274 | -41.5% |
| Tangible fixed assets | 22/27 | €58,217 | €33,943 | -€24,274 | -41.7% |
| Land and buildings | 22 | €32,200 | €29,900 | -€2,300 | -7.1% |
| Plant, machinery and equipment | 23 | €4,624 | €3,733 | -€891 | -19.3% |
| Furniture and vehicles | 24 | €21,393 | €310 | -€21,083 | -98.6% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €120,447 | €146,355 | +€25,908 | +21.5% |
| Amounts receivable within one year | 40/41 | €2,139 | €31,118 | +€28,979 | +1,355% |
| Trade receivables | 40 | €2,128 | €26,448 | +€24,320 | +1,143% |
| Other amounts receivable | 41 | €12 | €4,670 | +€4,658 | +39,579% |
| Current investments | 50/53 | €99,424 | €100,267 | +€843 | +0.8% |
| Cash at bank and in hand | 54/58 | €18,883 | €14,970 | -€3,913 | -20.7% |
| Total equity and liabilities | 10/49 | €178,913 | €180,548 | +€1,634 | +0.9% |
| Equity | 10/15 | €157,526 | €178,671 | +€21,145 | +13.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €138,934 | €160,079 | +€21,145 | +15.2% |
| Tax-exempt reserves | 132 | €275 | €275 | = | 0.0% |
| Distributable reserves | 133 | €138,659 | €159,805 | +€21,145 | +15.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €21,387 | €1,876 | -€19,511 | -91.2% |
| Amounts payable after more than one year | 17 | €5,999 | €0 | -€5,999 | -100% |
| Financial debts | 170/4 | €5,999 | €0 | -€5,999 | -100% |
| Amounts payable within one year | 42/48 | €15,063 | €1,550 | -€13,513 | -89.7% |
| Current portion of amounts payable after more than one year | 42 | €9,445 | €0 | -€9,445 | -100% |
| Trade debts | 44 | €1,419 | €1,124 | -€295 | -20.8% |
| Suppliers | 440/4 | €1,419 | €1,124 | -€295 | -20.8% |
| Taxes, remuneration and social security | 45 | - | €426 | +€426 | |
| Taxes | 450/3 | - | €426 | +€426 | |
| Other amounts payable | 47/48 | €4,199 | €0 | -€4,199 | -100% |
| Accrued charges and deferred income | 492/3 | €326 | €326 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | €6 | +€6 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,873 | €3,430 | -€9,443 | -73.4% |
| Other operating charges | 640/8 | €3,350 | €2,899 | -€451 | -13.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €27,575 | €35,608 | +€8,033 | +29.1% |
| Operating profit (loss) | 9901 | €11,352 | €29,278 | +€17,927 | +158% |
| Financial income | 75/76B | €3,355 | €2,241 | -€1,114 | -33.2% |
| Recurring financial income | 75 | €2,627 | €2,241 | -€386 | -14.7% |
| Non-recurring financial income | 76B | €728 | €0 | -€728 | -100% |
| Financial charges | 65/66B | €3,616 | -€199 | -€3,815 | |
| Recurring financial charges | 65 | €3,616 | -€199 | -€3,815 | |
| Profit (loss) for the period before taxes | 9903 | €11,091 | €31,718 | +€20,627 | +186% |
| Income taxes | 67/77 | €4,755 | €10,573 | +€5,818 | +122% |
| Profit (loss) for the period | 9904 | €6,337 | €21,145 | +€14,809 | +234% |
| Profit (loss) for the period to be appropriated | 9905 | €6,337 | €21,145 | +€14,809 | +234% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.