LUC DE BACKKER: 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 BACKKER
Largest movements
- Stocks and contracts -€165,878
down €165,878 (-11.5%), from €1.4m to €1.3m
- Cash +€136,134
up €136,134 (+1721.0%), from €7,910 to €144,044
mainly Stocks and contracts (+€165,878) and Other debts (+€87,404)
- Profit (loss) carried forward -€138,857
down €138,857 (-28.1%), from -€494,570 to -€633,428
- Other debts +€87,404
up €87,404 (+5.5%), from €1.6m to €1.7m
- Current portion of long-term debt +€50,000
new in 2025: €50,000
- Short-term financial debts -€50,000
no longer reported in 2025 (was €50,000)
- Advances received +€30,000
new in 2025: €30,000
- Financial charges -€11,728
down €11,728 (-39.3%), from €29,869 to €18,141
- Taxes +€5,689
up €5,689 (+685449.4%), from €1 to €5,690
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.
Cash bridge derived
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 | €1,528,207 | €1,488,084 | -€40,123 | -2.6% |
| Fixed assets | 21/28 | €30,986 | €21,380 | -€9,606 | -31.0% |
| Tangible fixed assets | 22/27 | €30,986 | €21,380 | -€9,606 | -31.0% |
| Furniture and vehicles | 24 | €30,986 | €21,380 | -€9,606 | -31.0% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €1,497,221 | €1,466,704 | -€30,517 | -2.0% |
| Stocks and contracts in progress | 3 | €1,439,981 | €1,274,103 | -€165,878 | -11.5% |
| Stocks | 30/36 | €1,439,981 | €1,274,103 | -€165,878 | -11.5% |
| Amounts receivable within one year | 40/41 | €46,152 | €46,152 | = | 0.0% |
| Trade receivables | 40 | €42,228 | €42,228 | = | 0.0% |
| Other amounts receivable | 41 | €3,924 | €3,924 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €7,910 | €144,044 | +€136,134 | +1721.0% |
| Deferred charges and accrued income | 490/1 | €3,177 | €2,405 | -€773 | -24.3% |
| Total equity and liabilities | 10/49 | €1,528,207 | €1,488,084 | -€40,123 | -2.6% |
| Equity | 10/15 | -€332,570 | -€471,428 | -€138,857 | -41.8% |
| Contributions | 10/11 | €102,300 | €102,300 | = | 0.0% |
| Reserves | 13 | €59,700 | €59,700 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,700 | €2,700 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,700 | €2,700 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €54,000 | €54,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€494,570 | -€633,428 | -€138,857 | -28.1% |
| Amounts payable | 17/49 | €1,860,777 | €1,959,512 | +€98,735 | +5.3% |
| Amounts payable after more than one year | 17 | €160,000 | €160,000 | = | 0.0% |
| Financial debts | 170/4 | €160,000 | €160,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,699,027 | €1,797,762 | +€98,735 | +5.8% |
| Current portion of amounts payable after more than one year | 42 | - | €50,000 | +€50,000 | |
| Financial debts | 43 | €50,000 | - | -€50,000 | |
| Credit institutions | 430/8 | €50,000 | - | -€50,000 | |
| Trade debts | 44 | €40,317 | €23,933 | -€16,384 | -40.6% |
| Suppliers | 440/4 | €40,317 | €23,933 | -€16,384 | -40.6% |
| Advances received on contracts in progress | 46 | - | €30,000 | +€30,000 | |
| Taxes, remuneration and social security | 45 | €8,188 | €5,903 | -€2,285 | -27.9% |
| Taxes | 450/3 | €8,188 | €5,903 | -€2,285 | -27.9% |
| Other amounts payable | 47/48 | €1,600,522 | €1,687,926 | +€87,404 | +5.5% |
| Accrued charges and deferred income | 492/3 | €1,750 | €1,750 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,921 | €9,606 | -€315 | -3.2% |
| Other operating charges | 640/8 | €2,322 | €2,466 | +€144 | +6.2% |
| Gross operating margin | 9900 | -€101,989 | -€102,955 | -€966 | -0.9% |
| Operating profit (loss) | 9901 | -€114,232 | -€115,026 | -€794 | -0.7% |
| Financial income | 75/76B | €302 | €0 | -€302 | -100.0% |
| Recurring financial income | 75 | €302 | €0 | -€302 | -100.0% |
| Financial charges | 65/66B | €29,869 | €18,141 | -€11,728 | -39.3% |
| Recurring financial charges | 65 | €29,869 | €18,141 | -€11,728 | -39.3% |
| Profit (loss) for the period before taxes | 9903 | -€143,799 | -€133,167 | +€10,631 | +7.4% |
| Income taxes | 67/77 | €1 | €5,690 | +€5,689 | +685449.4% |
| Profit (loss) for the period | 9904 | -€143,800 | -€138,857 | +€4,942 | +3.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€143,800 | -€138,857 | +€4,942 | +3.4% |
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 11 October 2026 via checked.be.