LUC FRANCOTTE: 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 FRANCOTTE
Largest movements
- Tangible fixed assets +€46,134
up €46,134, from €0 to €46,134
- Cash -€45,404
down €45,404 (-75.3%), from €60,316 to €14,912
mainly Investment in fixed assets (net) (-€58,841) and Receivables within one year (-€22,590)
- Receivables after one year -€38,978
no longer reported in 2025 (was €38,978)
- Receivables within one year +€22,590
new in 2025: €22,590
of which Other amounts receivable: +€22,590
- Contributions -€18,600
down €18,600 (-100%), from €18,600 to €0
- Reserves +€13,040
up €13,040 (+56.5%), from €23,060 to €36,100
of which Distributable reserves: +€14,900
- Tax, wage and social debts -€9,337
down €9,337 (-47.0%), from €19,859 to €10,522
- Depreciation +€12,629
up €12,629 (+16,178%), from €78 to €12,707
- Financial income +€12,572
up €12,572 (+1,044%), from €1,205 to €13,777
of which Non-recurring financial income: +€11,624
- Gross operating margin -€9,244
down €9,244 (-24.9%), from €37,144 to €27,900
- Taxes -€7,685
down €7,685 (-54.3%), from €14,158 to €6,473
- Other operating charges +€4,531
up €4,531 (+180%), from €2,518 to €7,048
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 | €99,294 | €83,637 | -€15,657 | -15.8% |
| Fixed assets | 21/28 | €0 | €46,134 | +€46,134 | |
| Tangible fixed assets | 22/27 | €0 | €46,134 | +€46,134 | |
| Furniture and vehicles | 24 | €0 | €46,134 | +€46,134 | |
| Current assets | 29/58 | €99,294 | €37,503 | -€61,791 | -62.2% |
| Amounts receivable after more than one year | 29 | €38,978 | - | -€38,978 | |
| Other amounts receivable | 291 | €38,978 | - | -€38,978 | |
| Amounts receivable within one year | 40/41 | - | €22,590 | +€22,590 | |
| Trade receivables | 40 | - | €0 | = | |
| Other amounts receivable | 41 | - | €22,590 | +€22,590 | |
| Cash at bank and in hand | 54/58 | €60,316 | €14,912 | -€45,404 | -75.3% |
| Total equity and liabilities | 10/49 | €99,294 | €83,637 | -€15,657 | -15.8% |
| Equity | 10/15 | €78,465 | €72,943 | -€5,522 | -7.0% |
| Contributions | 10/11 | €18,600 | €0 | -€18,600 | -100% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €23,060 | €36,100 | +€13,040 | +56.5% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | - | €0 | = | |
| Distributable reserves | 133 | €21,200 | €36,100 | +€14,900 | +70.3% |
| Profit (loss) carried forward | 14 | €36,805 | €36,843 | +€38 | +0.1% |
| Amounts payable | 17/49 | €20,828 | €10,694 | -€10,135 | -48.7% |
| Amounts payable within one year | 42/48 | €20,828 | €10,694 | -€10,135 | -48.7% |
| Trade debts | 44 | €969 | €172 | -€798 | -82.3% |
| Suppliers | 440/4 | €969 | €172 | -€798 | -82.3% |
| Taxes, remuneration and social security | 45 | €19,859 | €10,522 | -€9,337 | -47.0% |
| Taxes | 450/3 | €19,859 | €10,522 | -€9,337 | -47.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78 | €12,707 | +€12,629 | +16,178% |
| Other operating charges | 640/8 | €2,518 | €7,048 | +€4,531 | +180% |
| Gross operating margin | 9900 | €37,144 | €27,900 | -€9,244 | -24.9% |
| Operating profit (loss) | 9901 | €34,548 | €8,145 | -€26,404 | -76.4% |
| Financial income | 75/76B | €1,205 | €13,777 | +€12,572 | +1,044% |
| Recurring financial income | 75 | €1,205 | €2,152 | +€948 | +78.7% |
| Non-recurring financial income | 76B | - | €11,624 | +€11,624 | |
| Financial charges | 65/66B | €336 | €511 | +€175 | +52.1% |
| Recurring financial charges | 65 | €336 | €511 | +€175 | +52.1% |
| Profit (loss) for the period before taxes | 9903 | €35,417 | €21,411 | -€14,006 | -39.5% |
| Income taxes | 67/77 | €14,158 | €6,473 | -€7,685 | -54.3% |
| Profit (loss) for the period | 9904 | €21,259 | €14,938 | -€6,322 | -29.7% |
| Profit (loss) for the period to be appropriated | 9905 | €21,259 | €14,938 | -€6,322 | -29.7% |
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 31 October 2026 via checked.be.