LUC DE BACKER: 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 DE BACKER
Largest movements
- Deferred charges and accrued income +€28,102
up €28,102 (+3,479%), from €808 to €28,910
- Cash +€27,209
up €27,209 (+373%), from €7,295 to €34,503
mainly Net result for the year (+€30,927) and Depreciation (+€15,861)
- Tangible fixed assets -€15,861
down €15,861 (-12.5%), from €126,723 to €110,861
- Receivables within one year -€8,084
down €8,084 (-7.8%), from €103,735 to €95,651
of which Other amounts receivable: -€8,084
- Profit (loss) carried forward +€30,927
up €30,927 (+45.8%), from €67,596 to €98,523
- Gross operating margin +€26,053
up €26,053 (+66.8%), from €39,027 to €65,080
- Taxes +€5,646
up €5,646 (+111%), from €5,094 to €10,740
- Other operating charges -€696
down €696 (-8.9%), from €7,799 to €7,103
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 | €238,561 | €269,926 | +€31,365 | +13.1% |
| Fixed assets | 21/28 | €126,723 | €110,861 | -€15,861 | -12.5% |
| Tangible fixed assets | 22/27 | €126,723 | €110,861 | -€15,861 | -12.5% |
| Land and buildings | 22 | €126,723 | €110,861 | -€15,861 | -12.5% |
| Current assets | 29/58 | €111,838 | €159,065 | +€47,227 | +42.2% |
| Amounts receivable within one year | 40/41 | €103,735 | €95,651 | -€8,084 | -7.8% |
| Trade receivables | 40 | €55,660 | €55,660 | = | 0.0% |
| Other amounts receivable | 41 | €48,075 | €39,991 | -€8,084 | -16.8% |
| Cash at bank and in hand | 54/58 | €7,295 | €34,503 | +€27,209 | +373% |
| Deferred charges and accrued income | 490/1 | €808 | €28,910 | +€28,102 | +3,479% |
| Total equity and liabilities | 10/49 | €238,561 | €269,926 | +€31,365 | +13.1% |
| Equity | 10/15 | €130,547 | €161,475 | +€30,927 | +23.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €44,359 | €44,359 | = | 0.0% |
| Distributable reserves | 133 | €44,359 | €44,359 | = | 0.0% |
| Profit (loss) carried forward | 14 | €67,596 | €98,523 | +€30,927 | +45.8% |
| Amounts payable | 17/49 | €108,013 | €108,452 | +€438 | +0.4% |
| Amounts payable within one year | 42/48 | €108,013 | €108,452 | +€438 | +0.4% |
| Trade debts | 44 | €5,376 | €5,404 | +€28 | +0.5% |
| Suppliers | 440/4 | €5,376 | €5,404 | +€28 | +0.5% |
| Taxes, remuneration and social security | 45 | €1,255 | €1,039 | -€216 | -17.2% |
| Taxes | 450/3 | €1,255 | €1,039 | -€216 | -17.2% |
| Other amounts payable | 47/48 | €101,382 | €102,009 | +€626 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,861 | €15,861 | = | 0.0% |
| Other operating charges | 640/8 | €7,799 | €7,103 | -€696 | -8.9% |
| Gross operating margin | 9900 | €39,027 | €65,080 | +€26,053 | +66.8% |
| Operating profit (loss) | 9901 | €15,367 | €42,116 | +€26,749 | +174% |
| Financial charges | 65/66B | €272 | €449 | +€177 | +65.2% |
| Recurring financial charges | 65 | €272 | €449 | +€177 | +65.2% |
| Profit (loss) for the period before taxes | 9903 | €15,095 | €41,667 | +€26,572 | +176% |
| Income taxes | 67/77 | €5,094 | €10,740 | +€5,646 | +111% |
| Profit (loss) for the period | 9904 | €10,001 | €30,927 | +€20,926 | +209% |
| Profit (loss) for the period to be appropriated | 9905 | €10,001 | €30,927 | +€20,926 | +209% |
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 15 October 2026 via checked.be.