LUC LAMY: 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 LAMY
Largest movements
- Current investments -€1.1m
down €1.1m (-47.6%), from €2.3m to €1.2m
- Receivables within one year +€396,113
up €396,113 (+195%), from €202,917 to €599,030
of which Other amounts receivable: +€477,478
- Cash -€128,320
down €128,320 (-57.9%), from €221,440 to €93,120
mainly Contributions, distributions and other (-€710,217) and Receivables within one year (-€396,113)
- Reserves -€589,104
down €589,104 (-19.1%), from €3.1m to €2.5m
- Debts after one year -€114,869
down €114,869 (-47.3%), from €242,703 to €127,835
- Tax, wage and social debts -€85,214
down €85,214 (-47.5%), from €179,265 to €94,051
- Financial income +€167,395
up €167,395 (+6,605%), from €2,535 to €169,929
- Gross operating margin -€44,651
down €44,651 (-38.1%), from €117,090 to €72,439
- Taxes +€35,657
up €35,657 (+171%), from €20,842 to €56,499
- Depreciation +€10,782
up €10,782 (+26.3%), from €40,948 to €51,730
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 | €3,644,485 | €2,851,046 | -€793,439 | -21.8% |
| Fixed assets | 21/28 | €959,540 | €966,515 | +€6,975 | +0.7% |
| Tangible fixed assets | 22/27 | €958,565 | €965,540 | +€6,975 | +0.7% |
| Land and buildings | 22 | €945,724 | €909,633 | -€36,090 | -3.8% |
| Plant, machinery and equipment | 23 | €4,121 | €2,525 | -€1,596 | -38.7% |
| Furniture and vehicles | 24 | €8,720 | €53,381 | +€44,662 | +512% |
| Financial fixed assets | 28 | €975 | €975 | = | 0.0% |
| Current assets | 29/58 | €2,684,945 | €1,884,532 | -€800,414 | -29.8% |
| Amounts receivable within one year | 40/41 | €202,917 | €599,030 | +€396,113 | +195% |
| Trade receivables | 40 | €102,516 | €21,150 | -€81,365 | -79.4% |
| Other amounts receivable | 41 | €100,402 | €577,879 | +€477,478 | +476% |
| Current investments | 50/53 | €2,250,000 | €1,180,000 | -€1.1m | -47.6% |
| Cash at bank and in hand | 54/58 | €221,440 | €93,120 | -€128,320 | -57.9% |
| Deferred charges and accrued income | 490/1 | €10,588 | €12,381 | +€1,793 | +16.9% |
| Total equity and liabilities | 10/49 | €3,644,485 | €2,851,046 | -€793,439 | -21.8% |
| Equity | 10/15 | €3,101,770 | €2,512,666 | -€589,104 | -19.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €3,089,370 | €2,500,266 | -€589,104 | -19.1% |
| Distributable reserves | 133 | €3,089,370 | €2,500,266 | -€589,104 | -19.1% |
| Amounts payable | 17/49 | €542,715 | €338,380 | -€204,335 | -37.7% |
| Amounts payable after more than one year | 17 | €242,703 | €127,835 | -€114,869 | -47.3% |
| Financial debts | 170/4 | €242,703 | €127,835 | -€114,869 | -47.3% |
| Amounts payable within one year | 42/48 | €300,011 | €210,545 | -€89,466 | -29.8% |
| Current portion of amounts payable after more than one year | 42 | €117,589 | €114,869 | -€2,720 | -2.3% |
| Trade debts | 44 | €3,157 | €1,626 | -€1,531 | -48.5% |
| Suppliers | 440/4 | €3,157 | €1,626 | -€1,531 | -48.5% |
| Taxes, remuneration and social security | 45 | €179,265 | €94,051 | -€85,214 | -47.5% |
| Taxes | 450/3 | €179,265 | €94,051 | -€85,214 | -47.5% |
| Other amounts payable | 47/48 | €0 | - | -€0 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,948 | €51,730 | +€10,782 | +26.3% |
| Other operating charges | 640/8 | €4,670 | €4,755 | +€86 | +1.8% |
| Gross operating margin | 9900 | €117,090 | €72,439 | -€44,651 | -38.1% |
| Operating profit (loss) | 9901 | €71,472 | €15,954 | -€55,519 | -77.7% |
| Financial income | 75/76B | €2,535 | €169,929 | +€167,395 | +6,605% |
| Recurring financial income | 75 | €2,535 | €169,929 | +€167,395 | +6,605% |
| Financial charges | 65/66B | €8,426 | €8,271 | -€155 | -1.8% |
| Recurring financial charges | 65 | €8,426 | €8,271 | -€155 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | €65,581 | €177,612 | +€112,031 | +171% |
| Income taxes | 67/77 | €20,842 | €56,499 | +€35,657 | +171% |
| Profit (loss) for the period | 9904 | €44,739 | €121,113 | +€76,374 | +171% |
| Profit (loss) for the period to be appropriated | 9905 | €44,739 | €121,113 | +€76,374 | +171% |
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 27 October 2026 via checked.be.