LUC HOLLEMANS: 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 HOLLEMANS
Largest movements
- Cash +€27,435
up €27,435 (+23.8%), from €115,450 to €142,884
mainly Other debts (+€20,746) and Depreciation (+€17,291)
- Tangible fixed assets -€6,857
down €6,857 (-9.4%), from €72,959 to €66,103
of which Furniture and vehicles: -€7,620
- Other debts +€20,746
up €20,746 (+51.3%), from €40,436 to €61,183
- Trade debts +€9,197
up €9,197 (+261%), from €3,521 to €12,717
- Reserves -€8,000
down €8,000 (-11.6%), from €69,000 to €61,000
of which Distributable reserves: -€8,000
- Debts after one year -€5,370
down €5,370 (-37.5%), from €14,319 to €8,949
- Tax, wage and social debts +€3,385
up €3,385 (+82.3%), from €4,115 to €7,500
- Depreciation +€9,480
up €9,480 (+121%), from €7,811 to €17,291
- Gross operating margin +€5,669
up €5,669 (+18.0%), from €31,459 to €37,128
- Taxes -€1,071
down €1,071 (-16.8%), from €6,379 to €5,308
- Financial charges +€915
up €915 (+117%), from €783 to €1,698
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 | €193,992 | €214,364 | +€20,372 | +10.5% |
| Fixed assets | 21/28 | €72,959 | €66,103 | -€6,857 | -9.4% |
| Tangible fixed assets | 22/27 | €72,959 | €66,103 | -€6,857 | -9.4% |
| Plant, machinery and equipment | 23 | €5,624 | €6,387 | +€763 | +13.6% |
| Furniture and vehicles | 24 | €67,336 | €59,716 | -€7,620 | -11.3% |
| Current assets | 29/58 | €121,032 | €148,261 | +€27,229 | +22.5% |
| Amounts receivable within one year | 40/41 | €4,333 | €4,702 | +€369 | +8.5% |
| Other amounts receivable | 41 | €4,333 | €4,702 | +€369 | +8.5% |
| Cash at bank and in hand | 54/58 | €115,450 | €142,884 | +€27,435 | +23.8% |
| Deferred charges and accrued income | 490/1 | €1,250 | €674 | -€575 | -46.0% |
| Total equity and liabilities | 10/49 | €193,992 | €214,364 | +€20,372 | +10.5% |
| Equity | 10/15 | €126,231 | €118,644 | -€7,587 | -6.0% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €69,000 | €61,000 | -€8,000 | -11.6% |
| Non-distributable reserves | 130/1 | €4,000 | €4,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,000 | €4,000 | = | 0.0% |
| Distributable reserves | 133 | €65,000 | €57,000 | -€8,000 | -12.3% |
| Profit (loss) carried forward | 14 | €17,231 | €17,644 | +€413 | +2.4% |
| Amounts payable | 17/49 | €67,761 | €95,719 | +€27,959 | +41.3% |
| Amounts payable after more than one year | 17 | €14,319 | €8,949 | -€5,370 | -37.5% |
| Financial debts | 170/4 | €14,319 | €8,949 | -€5,370 | -37.5% |
| Amounts payable within one year | 42/48 | €53,442 | €86,770 | +€33,328 | +62.4% |
| Current portion of amounts payable after more than one year | 42 | €5,370 | €5,370 | = | 0.0% |
| Trade debts | 44 | €3,521 | €12,717 | +€9,197 | +261% |
| Suppliers | 440/4 | €3,521 | €12,717 | +€9,197 | +261% |
| Taxes, remuneration and social security | 45 | €4,115 | €7,500 | +€3,385 | +82.3% |
| Taxes | 450/3 | €4,115 | €7,500 | +€3,385 | +82.3% |
| Other amounts payable | 47/48 | €40,436 | €61,183 | +€20,746 | +51.3% |
| Non-recurring operating income | 76A | €613 | €124 | -€489 | -79.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,811 | €17,291 | +€9,480 | +121% |
| Other operating charges | 640/8 | €442 | €455 | +€12 | +2.8% |
| Non-recurring operating charges | 66A | €629 | - | -€629 | |
| Gross operating margin | 9900 | €31,459 | €37,128 | +€5,669 | +18.0% |
| Operating profit (loss) | 9901 | €22,576 | €19,382 | -€3,195 | -14.2% |
| Financial income | 75/76B | €20 | €38 | +€17 | +86.9% |
| Recurring financial income | 75 | €20 | €38 | +€17 | +86.9% |
| Financial charges | 65/66B | €783 | €1,698 | +€915 | +117% |
| Recurring financial charges | 65 | €783 | €1,698 | +€915 | +117% |
| Profit (loss) for the period before taxes | 9903 | €21,814 | €17,721 | -€4,093 | -18.8% |
| Income taxes | 67/77 | €6,379 | €5,308 | -€1,071 | -16.8% |
| Profit (loss) for the period | 9904 | €15,435 | €12,413 | -€3,021 | -19.6% |
| Profit (loss) for the period to be appropriated | 9905 | €15,435 | €12,413 | -€3,021 | -19.6% |
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 16 October 2026 via checked.be.