LUC MOONEN: what changed
LUC MOONEN
Largest movements
- Financial fixed assets +€667,038
up €667,038 (+1,866%), from €35,753 to €702,791
- Current investments -€125,746
down €125,746 (-34.2%), from €367,365 to €241,619
- Cash -€83,044
down €83,044 (-53.5%), from €155,159 to €72,115
mainly Investment in fixed assets (net) (-€668,463) and Contributions, distributions and other (-€311,728)
- Deferred charges and accrued income -€33,482
down €33,482 (-96.8%), from €34,573 to €1,091
- Tangible fixed assets -€22,941
down €22,941 (-11.2%), from €205,507 to €182,566
of which Furniture and vehicles: -€12,368
- Other debts +€246,488
up €246,488 (+20,903%), from €1,179 to €247,667
- Reserves +€103,699
up €103,699 (+18.6%), from €556,312 to €660,012
of which Distributable reserves: +€103,699
- Short-term financial debts -€93,328
down €93,328 (-100%), from €93,328 to €0
- Debts after one year +€86,541
up €86,541 (+123%), from €70,212 to €156,753
- Current portion of long-term debt +€50,838
up €50,838 (+319%), from €15,951 to €66,789
- Gross operating margin +€244,401
up €244,401 (+68.8%), from €355,249 to €599,650
- Taxes +€121,336
up €121,336 (+162%), from €75,036 to €196,372
- Staff costs -€98,801
down €98,801 (-92.2%), from €107,192 to €8,391
- Financial income +€46,957
up €46,957 (+621%), from €7,567 to €54,524
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €798,357 | €1,217,454 | +€419,097 | +52.5% |
| Fixed assets | 21/28 | €241,260 | €885,357 | +€644,097 | +267% |
| Tangible fixed assets | 22/27 | €205,507 | €182,566 | -€22,941 | -11.2% |
| Land and buildings | 22 | €136,954 | €128,157 | -€8,797 | -6.4% |
| Plant, machinery and equipment | 23 | €4,666 | €2,889 | -€1,777 | -38.1% |
| Furniture and vehicles | 24 | €63,888 | €51,520 | -€12,368 | -19.4% |
| Financial fixed assets | 28 | €35,753 | €702,791 | +€667,038 | +1,866% |
| Current assets | 29/58 | €557,097 | €332,097 | -€225,000 | -40.4% |
| Amounts receivable within one year | 40/41 | - | €17,272 | +€17,272 | |
| Trade receivables | 40 | - | €16,966 | +€16,966 | |
| Other amounts receivable | 41 | - | €306 | +€306 | |
| Current investments | 50/53 | €367,365 | €241,619 | -€125,746 | -34.2% |
| Cash at bank and in hand | 54/58 | €155,159 | €72,115 | -€83,044 | -53.5% |
| Deferred charges and accrued income | 490/1 | €34,573 | €1,091 | -€33,482 | -96.8% |
| Total equity and liabilities | 10/49 | €798,357 | €1,217,454 | +€419,097 | +52.5% |
| Equity | 10/15 | €568,712 | €672,412 | +€103,699 | +18.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €556,312 | €660,012 | +€103,699 | +18.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €554,452 | €658,152 | +€103,699 | +18.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €229,645 | €545,042 | +€315,398 | +137% |
| Amounts payable after more than one year | 17 | €70,212 | €156,753 | +€86,541 | +123% |
| Financial debts | 170/4 | €70,212 | €156,753 | +€86,541 | +123% |
| Amounts payable within one year | 42/48 | €156,953 | €385,810 | +€228,857 | +146% |
| Current portion of amounts payable after more than one year | 42 | €15,951 | €66,789 | +€50,838 | +319% |
| Financial debts | 43 | €93,328 | €0 | -€93,328 | -100% |
| Credit institutions | 430/8 | €93,328 | €0 | -€93,328 | -100% |
| Trade debts | 44 | €19,682 | €0 | -€19,682 | -100% |
| Suppliers | 440/4 | €19,682 | €0 | -€19,682 | -100% |
| Taxes, remuneration and social security | 45 | €26,813 | €71,354 | +€44,541 | +166% |
| Taxes | 450/3 | €10,501 | €65,096 | +€54,595 | +520% |
| Remuneration and social security | 454/9 | €16,312 | €6,258 | -€10,054 | -61.6% |
| Other amounts payable | 47/48 | €1,179 | €247,667 | +€246,488 | +20,903% |
| Accrued charges and deferred income | 492/3 | €2,479 | €2,479 | = | 0.0% |
| Non-recurring operating income | 76A | €13,632 | €5,984 | -€7,648 | -56.1% |
| Remuneration, social security and pensions | 62 | €107,192 | €8,391 | -€98,801 | -92.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,695 | €24,366 | -€329 | -1.3% |
| Other operating charges | 640/8 | €1,278 | €1,365 | +€87 | +6.8% |
| Gross operating margin | 9900 | €355,249 | €599,650 | +€244,401 | +68.8% |
| Operating profit (loss) | 9901 | €222,084 | €565,527 | +€343,443 | +155% |
| Financial income | 75/76B | €7,567 | €54,524 | +€46,957 | +621% |
| Recurring financial income | 75 | €7,567 | €54,524 | +€46,957 | +621% |
| Financial charges | 65/66B | €7,187 | €8,252 | +€1,065 | +14.8% |
| Recurring financial charges | 65 | €7,187 | €8,252 | +€1,065 | +14.8% |
| Profit (loss) for the period before taxes | 9903 | €222,464 | €611,799 | +€389,335 | +175% |
| Income taxes | 67/77 | €75,036 | €196,372 | +€121,336 | +162% |
| Profit (loss) for the period | 9904 | €147,428 | €415,427 | +€267,999 | +182% |
| Profit (loss) for the period to be appropriated | 9905 | €147,428 | €415,427 | +€267,999 | +182% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.