LUC DEYAERT: 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 DEYAERT
Largest movements
- Receivables within one year -€88,072
down €88,072 (-40.0%), from €220,006 to €131,934
of which Other amounts receivable: -€92,763
- Tangible fixed assets -€26,769
down €26,769 (-20.3%), from €132,160 to €105,392
of which Furniture and vehicles: -€29,578
- Deferred charges and accrued income -€7,838
down €7,838 (-90.1%), from €8,702 to €864
- Other debts -€195,358
no longer reported in 2025 (was €195,358)
- Reserves +€82,687
up €82,687 (+28.2%), from €293,656 to €376,342
of which Distributable reserves: +€82,687
- Debts after one year -€18,031
down €18,031 (-32.9%), from €54,738 to €36,707
- Tax, wage and social debts +€6,645
up €6,645 (+25.6%), from €26,002 to €32,647
- Gross operating margin +€31,583
up €31,583 (+29.5%), from €106,894 to €138,477
- Taxes +€5,799
up €5,799 (+24.5%), from €23,655 to €29,454
- Financial income -€3,742
down €3,742 (-29.7%), from €12,591 to €8,849
- Depreciation -€3,163
down €3,163 (-9.9%), from €32,051 to €28,888
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 | €608,396 | €490,635 | -€117,760 | -19.4% |
| Fixed assets | 21/28 | €132,160 | €105,392 | -€26,769 | -20.3% |
| Tangible fixed assets | 22/27 | €132,160 | €105,392 | -€26,769 | -20.3% |
| Furniture and vehicles | 24 | €92,584 | €63,006 | -€29,578 | -31.9% |
| Other tangible fixed assets | 26 | €39,576 | €42,386 | +€2,810 | +7.1% |
| Current assets | 29/58 | €476,236 | €385,244 | -€90,992 | -19.1% |
| Amounts receivable after more than one year | 29 | €25,000 | €25,000 | = | 0.0% |
| Other amounts receivable | 291 | €25,000 | €25,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €220,006 | €131,934 | -€88,072 | -40.0% |
| Trade receivables | 40 | €17,485 | €22,175 | +€4,691 | +26.8% |
| Other amounts receivable | 41 | €202,522 | €109,759 | -€92,763 | -45.8% |
| Cash at bank and in hand | 54/58 | €222,527 | €227,446 | +€4,918 | +2.2% |
| Deferred charges and accrued income | 490/1 | €8,702 | €864 | -€7,838 | -90.1% |
| Total equity and liabilities | 10/49 | €608,396 | €490,635 | -€117,760 | -19.4% |
| Equity | 10/15 | €306,056 | €388,742 | +€82,687 | +27.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €293,656 | €376,342 | +€82,687 | +28.2% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €291,801 | €374,487 | +€82,687 | +28.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €302,340 | €101,893 | -€200,447 | -66.3% |
| Amounts payable after more than one year | 17 | €54,738 | €36,707 | -€18,031 | -32.9% |
| Financial debts | 170/4 | €54,738 | €36,707 | -€18,031 | -32.9% |
| Amounts payable within one year | 42/48 | €246,658 | €65,187 | -€181,472 | -73.6% |
| Current portion of amounts payable after more than one year | 42 | €17,304 | €18,031 | +€728 | +4.2% |
| Financial debts | 43 | €827 | €1,852 | +€1,025 | +124% |
| Credit institutions | 430/8 | €827 | €1,852 | +€1,025 | +124% |
| Trade debts | 44 | €7,167 | €12,655 | +€5,488 | +76.6% |
| Suppliers | 440/4 | €7,167 | €12,655 | +€5,488 | +76.6% |
| Taxes, remuneration and social security | 45 | €26,002 | €32,647 | +€6,645 | +25.6% |
| Taxes | 450/3 | €26,002 | €32,647 | +€6,645 | +25.6% |
| Other amounts payable | 47/48 | €195,358 | - | -€195,358 | |
| Accrued charges and deferred income | 492/3 | €944 | - | -€944 | |
| Non-recurring operating income | 76A | - | €26,330 | +€26,330 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,051 | €28,888 | -€3,163 | -9.9% |
| Other operating charges | 640/8 | €1,829 | €2,188 | +€358 | +19.6% |
| Gross operating margin | 9900 | €106,894 | €138,477 | +€31,583 | +29.5% |
| Operating profit (loss) | 9901 | €73,014 | €107,402 | +€34,388 | +47.1% |
| Financial income | 75/76B | €12,591 | €8,849 | -€3,742 | -29.7% |
| Recurring financial income | 75 | €12,591 | €8,849 | -€3,742 | -29.7% |
| Financial charges | 65/66B | €3,844 | €3,278 | -€566 | -14.7% |
| Recurring financial charges | 65 | €3,844 | €3,278 | -€566 | -14.7% |
| Profit (loss) for the period before taxes | 9903 | €81,761 | €112,974 | +€31,212 | +38.2% |
| Income taxes | 67/77 | €23,655 | €29,454 | +€5,799 | +24.5% |
| Profit (loss) for the period | 9904 | €58,107 | €83,520 | +€25,413 | +43.7% |
| Profit (loss) for the period to be appropriated | 9905 | €58,107 | €83,520 | +€25,413 | +43.7% |
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 30 October 2026 via checked.be.