LUC HELLEBOOGE: 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 HELLEBOOGE
Largest movements
- Cash +€634,315
up €634,315 (+277%), from €229,380 to €863,695
mainly Current investments (+€554,154) and Net result for the year (+€69,384)
- Current investments -€554,154
down €554,154 (-88.1%), from €629,297 to €75,143
- Tangible fixed assets -€11,253
down €11,253 (-19.6%), from €57,532 to €46,279
of which Land and buildings: -€7,236
- Reserves +€69,384
up €69,384 (+8.9%), from €775,673 to €845,057
of which Distributable reserves: +€69,384
- Other debts +€14,752
up €14,752 (+30.4%), from €48,599 to €63,351
- Trade debts -€14,105
down €14,105 (-88.7%), from €15,897 to €1,792
- Gross operating margin -€22,240
down €22,240 (-16.6%), from €134,309 to €112,069
- Financial income -€18,018
down €18,018 (-63.4%), from €28,422 to €10,405
- Taxes -€12,089
down €12,089 (-26.1%), from €46,235 to €34,146
- Financial charges +€1,449
up €1,449 (+72.3%), from €2,004 to €3,453
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €944,776 | €1,011,227 | +€66,451 | +7.0% |
| Fixed assets | 21/28 | €57,572 | €46,319 | -€11,253 | -19.5% |
| Tangible fixed assets | 22/27 | €57,532 | €46,279 | -€11,253 | -19.6% |
| Land and buildings | 22 | €44,500 | €37,264 | -€7,236 | -16.3% |
| Plant, machinery and equipment | 23 | €406 | €255 | -€151 | -37.2% |
| Furniture and vehicles | 24 | €12,626 | €8,760 | -€3,866 | -30.6% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €887,204 | €964,908 | +€77,704 | +8.8% |
| Amounts receivable after more than one year | 29 | €10,165 | €10,500 | +€335 | +3.3% |
| Other amounts receivable | 291 | €10,165 | €10,500 | +€335 | +3.3% |
| Amounts receivable within one year | 40/41 | €16,967 | €14,206 | -€2,761 | -16.3% |
| Trade receivables | 40 | €15,223 | €3,637 | -€11,586 | -76.1% |
| Other amounts receivable | 41 | €1,744 | €10,569 | +€8,824 | +506% |
| Current investments | 50/53 | €629,297 | €75,143 | -€554,154 | -88.1% |
| Cash at bank and in hand | 54/58 | €229,380 | €863,695 | +€634,315 | +277% |
| Deferred charges and accrued income | 490/1 | €1,395 | €1,363 | -€32 | -2.3% |
| Total equity and liabilities | 10/49 | €944,776 | €1,011,227 | +€66,451 | +7.0% |
| Equity | 10/15 | €866,487 | €935,871 | +€69,384 | +8.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €775,673 | €845,057 | +€69,384 | +8.9% |
| Non-distributable reserves | 130/1 | €8,622 | €8,622 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,622 | €8,622 | = | 0.0% |
| Distributable reserves | 133 | €767,050 | €836,434 | +€69,384 | +9.0% |
| Profit (loss) carried forward | 14 | €72,214 | €72,214 | = | 0.0% |
| Amounts payable | 17/49 | €78,289 | €75,356 | -€2,933 | -3.7% |
| Amounts payable within one year | 42/48 | €77,019 | €75,036 | -€1,983 | -2.6% |
| Trade debts | 44 | €15,897 | €1,792 | -€14,105 | -88.7% |
| Suppliers | 440/4 | €15,897 | €1,792 | -€14,105 | -88.7% |
| Taxes, remuneration and social security | 45 | €12,523 | €9,893 | -€2,630 | -21.0% |
| Taxes | 450/3 | €12,523 | €9,893 | -€2,630 | -21.0% |
| Other amounts payable | 47/48 | €48,599 | €63,351 | +€14,752 | +30.4% |
| Accrued charges and deferred income | 492/3 | €1,270 | €320 | -€950 | -74.8% |
| Non-recurring operating income | 76A | €7,602 | €8,290 | +€688 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,631 | €12,578 | +€947 | +8.1% |
| Other operating charges | 640/8 | €2,925 | €2,914 | -€11 | -0.4% |
| Gross operating margin | 9900 | €134,309 | €112,069 | -€22,240 | -16.6% |
| Operating profit (loss) | 9901 | €119,753 | €96,578 | -€23,175 | -19.4% |
| Financial income | 75/76B | €28,422 | €10,405 | -€18,018 | -63.4% |
| Recurring financial income | 75 | €28,422 | €10,405 | -€18,018 | -63.4% |
| Financial charges | 65/66B | €2,004 | €3,453 | +€1,449 | +72.3% |
| Recurring financial charges | 65 | €2,004 | €3,453 | +€1,449 | +72.3% |
| Profit (loss) for the period before taxes | 9903 | €146,171 | €103,530 | -€42,641 | -29.2% |
| Income taxes | 67/77 | €46,235 | €34,146 | -€12,089 | -26.1% |
| Profit (loss) for the period | 9904 | €99,936 | €69,384 | -€30,552 | -30.6% |
| Profit (loss) for the period to be appropriated | 9905 | €99,936 | €69,384 | -€30,552 | -30.6% |
Source: filed annual accounts (NBB), financial years ended 30 April 2025 and 30 April 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.