LUC BOONEN: 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 BOONEN
Largest movements
- Cash -€23,057
down €23,057 (-38.8%), from €59,372 to €36,315
mainly Accrued charges and deferred income (-€39,001) and Trade debts (-€16,658)
- Tangible fixed assets -€21,057
down €21,057 (-13.7%), from €153,908 to €132,851
of which Land and buildings: -€14,079
- Receivables within one year -€15,167
down €15,167 (-35.8%), from €42,311 to €27,144
of which Trade receivables: -€16,254
- Accrued charges and deferred income -€39,001
down €39,001 (-94.9%), from €41,112 to €2,111
- Trade debts -€16,658
down €16,658 (-81.2%), from €20,505 to €3,847
- Reserves +€15,000
up €15,000 (+16.5%), from €90,860 to €105,860
of which Distributable reserves: +€15,000
- Debts after one year -€13,095
down €13,095 (-48.7%), from €26,902 to €13,807
- Current portion of long-term debt -€10,327
down €10,327 (-44.1%), from €23,423 to €13,096
- Gross operating margin +€27,879
up €27,879 (+34.3%), from €81,241 to €109,120
- Staff costs -€18,824
down €18,824 (-23.9%), from €78,772 to €59,948
- Depreciation -€7,308
down €7,308 (-25.8%), from €28,365 to €21,057
- Taxes +€1,707
up €1,707 (+56,900%), from €3 to €1,710
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 | €279,711 | €221,082 | -€58,629 | -21.0% |
| Fixed assets | 21/28 | €153,980 | €132,923 | -€21,057 | -13.7% |
| Tangible fixed assets | 22/27 | €153,908 | €132,851 | -€21,057 | -13.7% |
| Land and buildings | 22 | €123,516 | €109,437 | -€14,079 | -11.4% |
| Plant, machinery and equipment | 23 | €2,677 | €2,484 | -€193 | -7.2% |
| Furniture and vehicles | 24 | €27,715 | €20,930 | -€6,785 | -24.5% |
| Financial fixed assets | 28 | €72 | €72 | = | 0.0% |
| Current assets | 29/58 | €125,731 | €88,159 | -€37,572 | -29.9% |
| Stocks and contracts in progress | 3 | €24,048 | €24,700 | +€652 | +2.7% |
| Stocks | 30/36 | €24,048 | €24,700 | +€652 | +2.7% |
| Amounts receivable within one year | 40/41 | €42,311 | €27,144 | -€15,167 | -35.8% |
| Trade receivables | 40 | €38,128 | €21,874 | -€16,254 | -42.6% |
| Other amounts receivable | 41 | €4,183 | €5,270 | +€1,087 | +26.0% |
| Cash at bank and in hand | 54/58 | €59,372 | €36,315 | -€23,057 | -38.8% |
| Total equity and liabilities | 10/49 | €279,711 | €221,082 | -€58,629 | -21.0% |
| Equity | 10/15 | €165,724 | €182,506 | +€16,782 | +10.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €90,860 | €105,860 | +€15,000 | +16.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €89,000 | €104,000 | +€15,000 | +16.9% |
| Profit (loss) carried forward | 14 | €68,664 | €70,446 | +€1,782 | +2.6% |
| Amounts payable | 17/49 | €113,987 | €38,576 | -€75,411 | -66.2% |
| Amounts payable after more than one year | 17 | €26,902 | €13,807 | -€13,095 | -48.7% |
| Financial debts | 170/4 | €26,902 | €13,807 | -€13,095 | -48.7% |
| Amounts payable within one year | 42/48 | €45,973 | €22,658 | -€23,315 | -50.7% |
| Current portion of amounts payable after more than one year | 42 | €23,423 | €13,096 | -€10,327 | -44.1% |
| Trade debts | 44 | €20,505 | €3,847 | -€16,658 | -81.2% |
| Suppliers | 440/4 | €20,505 | €3,847 | -€16,658 | -81.2% |
| Taxes, remuneration and social security | 45 | €2,045 | €5,715 | +€3,670 | +179% |
| Remuneration and social security | 454/9 | €2,045 | €5,715 | +€3,670 | +179% |
| Accrued charges and deferred income | 492/3 | €41,112 | €2,111 | -€39,001 | -94.9% |
| Remuneration, social security and pensions | 62 | €78,772 | €59,948 | -€18,824 | -23.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,365 | €21,057 | -€7,308 | -25.8% |
| Other operating charges | 640/8 | €6,069 | €6,889 | +€820 | +13.5% |
| Gross operating margin | 9900 | €81,241 | €109,120 | +€27,879 | +34.3% |
| Operating profit (loss) | 9901 | -€31,965 | €21,226 | +€53,191 | |
| Financial income | 75/76B | €37 | €223 | +€186 | +503% |
| Recurring financial income | 75 | €37 | €223 | +€186 | +503% |
| Financial charges | 65/66B | €3,418 | €2,957 | -€461 | -13.5% |
| Recurring financial charges | 65 | €3,418 | €2,957 | -€461 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | -€35,346 | €18,492 | +€53,838 | |
| Income taxes | 67/77 | €3 | €1,710 | +€1,707 | +56,900% |
| Profit (loss) for the period | 9904 | -€35,349 | €16,782 | +€52,131 | |
| Profit (loss) for the period to be appropriated | 9905 | -€35,349 | €16,782 | +€52,131 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.