Luc De Bosschere: 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 Bosschere
Largest movements
- Intangible fixed assets -€18,500
no longer reported in 2025 (was €18,500)
- Cash +€10,135
up €10,135 (+78.2%), from €12,958 to €23,093
mainly Depreciation (+€19,432) and Receivables within one year (+€6,334)
- Receivables within one year -€6,334
down €6,334 (-19.2%), from €33,016 to €26,682
of which Trade receivables: -€5,214
- Tangible fixed assets -€1,623
down €1,623 (-52.4%), from €3,097 to €1,475
of which Plant, machinery and equipment: -€932
- Profit (loss) carried forward -€11,851
down €11,851 (-29.7%), from -€39,875 to -€51,727
- Other debts -€5,033
down €5,033 (-36.8%), from €13,691 to €8,658
- Advances received +€2,345
new in 2025: €2,345
- Trade debts -€1,978
down €1,978 (-11.4%), from €17,396 to €15,418
- Gross operating margin +€25,324
up €25,324, from -€15,422 to €9,901
- Other operating charges -€827
down €827 (-45.3%), from €1,825 to €998
- Depreciation -€318
down €318 (-1.6%), from €19,751 to €19,432
- Financial charges -€251
down €251 (-34.8%), from €721 to €470
- Taxes +€206
up €206, from -€77 to €128
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 | €70,651 | €54,836 | -€15,815 | -22.4% |
| Fixed assets | 21/28 | €21,597 | €1,475 | -€20,123 | -93.2% |
| Intangible fixed assets | 21 | €18,500 | - | -€18,500 | |
| Tangible fixed assets | 22/27 | €3,097 | €1,475 | -€1,623 | -52.4% |
| Plant, machinery and equipment | 23 | €2,407 | €1,475 | -€932 | -38.7% |
| Furniture and vehicles | 24 | €690 | - | -€690 | |
| Current assets | 29/58 | €49,053 | €53,361 | +€4,308 | +8.8% |
| Stocks and contracts in progress | 3 | €2,500 | €2,500 | = | 0.0% |
| Stocks | 30/36 | €2,500 | €2,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €33,016 | €26,682 | -€6,334 | -19.2% |
| Trade receivables | 40 | €17,816 | €12,602 | -€5,214 | -29.3% |
| Other amounts receivable | 41 | €15,200 | €14,080 | -€1,120 | -7.4% |
| Cash at bank and in hand | 54/58 | €12,958 | €23,093 | +€10,135 | +78.2% |
| Deferred charges and accrued income | 490/1 | €579 | €1,086 | +€507 | +87.6% |
| Total equity and liabilities | 10/49 | €70,651 | €54,836 | -€15,815 | -22.4% |
| Equity | 10/15 | €39,299 | €27,448 | -€11,851 | -30.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €72,975 | €72,975 | = | 0.0% |
| Non-distributable reserves | 130/1 | €620 | €620 | = | 0.0% |
| Reserves not available under the articles | 1311 | €620 | €620 | = | 0.0% |
| Distributable reserves | 133 | €72,355 | €72,355 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€39,875 | -€51,727 | -€11,851 | -29.7% |
| Amounts payable | 17/49 | €31,351 | €27,388 | -€3,963 | -12.6% |
| Amounts payable within one year | 42/48 | €31,351 | €27,388 | -€3,963 | -12.6% |
| Trade debts | 44 | €17,396 | €15,418 | -€1,978 | -11.4% |
| Suppliers | 440/4 | €17,396 | €15,418 | -€1,978 | -11.4% |
| Advances received on contracts in progress | 46 | - | €2,345 | +€2,345 | |
| Taxes, remuneration and social security | 45 | €264 | €967 | +€702 | +266% |
| Taxes | 450/3 | €264 | €967 | +€702 | +266% |
| Other amounts payable | 47/48 | €13,691 | €8,658 | -€5,033 | -36.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,751 | €19,432 | -€318 | -1.6% |
| Other operating charges | 640/8 | €1,825 | €998 | -€827 | -45.3% |
| Non-recurring operating charges | 66A | - | €756 | +€756 | |
| Gross operating margin | 9900 | -€15,422 | €9,901 | +€25,324 | |
| Operating profit (loss) | 9901 | -€36,998 | -€11,285 | +€25,713 | +69.5% |
| Financial income | 75/76B | - | €32 | +€32 | |
| Recurring financial income | 75 | - | €32 | +€32 | |
| Financial charges | 65/66B | €721 | €470 | -€251 | -34.8% |
| Recurring financial charges | 65 | €721 | €470 | -€251 | -34.8% |
| Profit (loss) for the period before taxes | 9903 | -€37,719 | -€11,723 | +€25,996 | +68.9% |
| Income taxes | 67/77 | -€77 | €128 | +€206 | |
| Profit (loss) for the period | 9904 | -€37,642 | -€11,851 | +€25,790 | +68.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,642 | -€11,851 | +€25,790 | +68.5% |
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 30 October 2026 via checked.be.