LUC BEESMANS: 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 BEESMANS
Largest movements
- Cash +€19,334
up €19,334 (+10.5%), from €184,401 to €203,736
mainly Net result for the year (+€24,378) and Depreciation (+€19,398)
- Receivables within one year +€9,469
new in 2025: €9,469
of which Trade receivables: +€5,700
- Tangible fixed assets -€4,129
down €4,129 (-4.8%), from €85,708 to €81,579
of which Land and buildings: -€10,108
- Deferred charges and accrued income -€3,650
down €3,650 (-11.6%), from €31,573 to €27,923
- Reserves +€24,378
up €24,378 (+10.5%), from €232,876 to €257,254
of which Distributable reserves: +€24,378
- Other debts +€4,121
up €4,121 (+81.9%), from €5,033 to €9,153
- Debts after one year -€3,605
no longer reported in 2025 (was €3,605)
- Current portion of long-term debt -€3,549
down €3,549 (-33.5%), from €10,583 to €7,034
- Trade debts -€3,373
down €3,373 (-10.2%), from €33,189 to €29,816
- Gross operating margin -€18,473
down €18,473 (-24.7%), from €74,739 to €56,266
- Taxes -€5,570
down €5,570 (-34.7%), from €16,050 to €10,481
- Depreciation -€1,075
down €1,075 (-5.3%), from €20,473 to €19,398
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 | €301,683 | €322,707 | +€21,024 | +7.0% |
| Fixed assets | 21/28 | €85,708 | €81,579 | -€4,129 | -4.8% |
| Tangible fixed assets | 22/27 | €85,708 | €81,579 | -€4,129 | -4.8% |
| Land and buildings | 22 | €53,798 | €43,690 | -€10,108 | -18.8% |
| Plant, machinery and equipment | 23 | €29,282 | €21,301 | -€7,981 | -27.3% |
| Furniture and vehicles | 24 | €2,628 | €16,588 | +€13,960 | +531% |
| Current assets | 29/58 | €215,974 | €241,127 | +€25,153 | +11.6% |
| Amounts receivable within one year | 40/41 | - | €9,469 | +€9,469 | |
| Trade receivables | 40 | - | €5,700 | +€5,700 | |
| Other amounts receivable | 41 | - | €3,769 | +€3,769 | |
| Cash at bank and in hand | 54/58 | €184,401 | €203,736 | +€19,334 | +10.5% |
| Deferred charges and accrued income | 490/1 | €31,573 | €27,923 | -€3,650 | -11.6% |
| Total equity and liabilities | 10/49 | €301,683 | €322,707 | +€21,024 | +7.0% |
| Equity | 10/15 | €245,276 | €269,654 | +€24,378 | +9.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €232,876 | €257,254 | +€24,378 | +10.5% |
| Tax-exempt reserves | 132 | €418 | €418 | = | 0.0% |
| Distributable reserves | 133 | €232,458 | €256,836 | +€24,378 | +10.5% |
| Amounts payable | 17/49 | €56,407 | €53,053 | -€3,353 | -5.9% |
| Amounts payable after more than one year | 17 | €3,605 | - | -€3,605 | |
| Financial debts | 170/4 | €3,605 | - | -€3,605 | |
| Amounts payable within one year | 42/48 | €52,551 | €52,803 | +€252 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €10,583 | €7,034 | -€3,549 | -33.5% |
| Trade debts | 44 | €33,189 | €29,816 | -€3,373 | -10.2% |
| Suppliers | 440/4 | €33,189 | €29,816 | -€3,373 | -10.2% |
| Taxes, remuneration and social security | 45 | €3,747 | €6,800 | +€3,053 | +81.5% |
| Taxes | 450/3 | €1,947 | €5,000 | +€3,053 | +157% |
| Remuneration and social security | 454/9 | €1,800 | €1,800 | = | 0.0% |
| Other amounts payable | 47/48 | €5,033 | €9,153 | +€4,121 | +81.9% |
| Accrued charges and deferred income | 492/3 | €250 | €250 | = | 0.0% |
| Non-recurring operating income | 76A | - | €5,700 | +€5,700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,473 | €19,398 | -€1,075 | -5.3% |
| Other operating charges | 640/8 | €1,175 | €1,389 | +€214 | +18.2% |
| Gross operating margin | 9900 | €74,739 | €56,266 | -€18,473 | -24.7% |
| Operating profit (loss) | 9901 | €53,091 | €35,480 | -€17,612 | -33.2% |
| Financial income | 75/76B | €346 | €832 | +€486 | +140% |
| Recurring financial income | 75 | €346 | €832 | +€486 | +140% |
| Financial charges | 65/66B | €1,679 | €1,453 | -€226 | -13.5% |
| Recurring financial charges | 65 | €1,679 | €1,453 | -€226 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €51,759 | €34,859 | -€16,900 | -32.7% |
| Income taxes | 67/77 | €16,050 | €10,481 | -€5,570 | -34.7% |
| Profit (loss) for the period | 9904 | €35,708 | €24,378 | -€11,330 | -31.7% |
| Profit (loss) for the period to be appropriated | 9905 | €35,708 | €24,378 | -€11,330 | -31.7% |
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 21 October 2026 via checked.be.