LUC MORTIER: 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 MORTIER
Largest movements
- Cash -€41,291
down €41,291 (-82.1%), from €50,302 to €9,010
mainly Other debts (-€28,424) and Tax, wage and social debts (-€12,147)
- Tangible fixed assets -€7,795
down €7,795 (-36.8%), from €21,157 to €13,362
- Receivables within one year +€2,720
up €2,720 (+3.1%), from €87,963 to €90,683
of which Trade receivables: +€2,560
- Stocks and contracts -€1,790
down €1,790 (-17.0%), from €10,540 to €8,750
- Other debts -€28,424
down €28,424 (-35.7%), from €79,582 to €51,157
- Tax, wage and social debts -€12,147
down €12,147 (-41.2%), from €29,466 to €17,319
of which Taxes: -€8,726
- Trade debts -€9,754
down €9,754 (-35.4%), from €27,543 to €17,789
- Profit (loss) carried forward +€2,904
up €2,904 (+15.0%), from -€19,372 to -€16,468
- Gross operating margin -€91,008
down €91,008 (-52.3%), from €174,115 to €83,107
- Staff costs +€7,594
up €7,594 (+13.7%), from €55,404 to €62,998
- Other operating charges -€5,861
down €5,861 (-71.9%), from €8,147 to €2,286
- Write-downs -€5,397
down €5,397 (-100%), from €5,397 to €0
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 | €171,907 | €124,485 | -€47,421 | -27.6% |
| Fixed assets | 21/28 | €21,157 | €13,362 | -€7,795 | -36.8% |
| Tangible fixed assets | 22/27 | €21,157 | €13,362 | -€7,795 | -36.8% |
| Furniture and vehicles | 24 | €21,157 | €13,362 | -€7,795 | -36.8% |
| Current assets | 29/58 | €150,750 | €111,124 | -€39,626 | -26.3% |
| Stocks and contracts in progress | 3 | €10,540 | €8,750 | -€1,790 | -17.0% |
| Stocks | 30/36 | €10,540 | €8,750 | -€1,790 | -17.0% |
| Amounts receivable within one year | 40/41 | €87,963 | €90,683 | +€2,720 | +3.1% |
| Trade receivables | 40 | €87,150 | €89,711 | +€2,560 | +2.9% |
| Other amounts receivable | 41 | €813 | €972 | +€159 | +19.6% |
| Cash at bank and in hand | 54/58 | €50,302 | €9,010 | -€41,291 | -82.1% |
| Deferred charges and accrued income | 490/1 | €1,945 | €2,681 | +€736 | +37.8% |
| Total equity and liabilities | 10/49 | €171,907 | €124,485 | -€47,421 | -27.6% |
| Equity | 10/15 | €26,508 | €29,412 | +€2,904 | +11.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €27,280 | €27,280 | = | 0.0% |
| Distributable reserves | 133 | €27,280 | €27,280 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,372 | -€16,468 | +€2,904 | +15.0% |
| Amounts payable | 17/49 | €145,399 | €95,074 | -€50,325 | -34.6% |
| Amounts payable within one year | 42/48 | €145,399 | €95,074 | -€50,325 | -34.6% |
| Trade debts | 44 | €27,543 | €17,789 | -€9,754 | -35.4% |
| Suppliers | 440/4 | €27,543 | €17,789 | -€9,754 | -35.4% |
| Advances received on contracts in progress | 46 | €8,808 | €8,808 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €29,466 | €17,319 | -€12,147 | -41.2% |
| Taxes | 450/3 | €14,497 | €5,772 | -€8,726 | -60.2% |
| Remuneration and social security | 454/9 | €14,969 | €11,548 | -€3,421 | -22.9% |
| Other amounts payable | 47/48 | €79,582 | €51,157 | -€28,424 | -35.7% |
| Non-recurring operating income | 76A | €1,000 | €25,000 | +€24,000 | +2,400% |
| Remuneration, social security and pensions | 62 | €55,404 | €62,998 | +€7,594 | +13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,444 | €7,795 | -€1,648 | -17.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,397 | €0 | -€5,397 | -100% |
| Other operating charges | 640/8 | €8,147 | €2,286 | -€5,861 | -71.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €174,115 | €83,107 | -€91,008 | -52.3% |
| Operating profit (loss) | 9901 | €95,723 | €10,028 | -€85,696 | -89.5% |
| Financial income | 75/76B | €248 | €94 | -€154 | -62.0% |
| Recurring financial income | 75 | €248 | €94 | -€154 | -62.0% |
| Financial charges | 65/66B | €4,959 | €3,722 | -€1,237 | -25.0% |
| Recurring financial charges | 65 | €4,959 | €3,722 | -€1,237 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | €91,012 | €6,400 | -€84,612 | -93.0% |
| Income taxes | 67/77 | €2,283 | €3,496 | +€1,214 | +53.2% |
| Profit (loss) for the period | 9904 | €88,729 | €2,904 | -€85,826 | -96.7% |
| Profit (loss) for the period to be appropriated | 9905 | €88,729 | €2,904 | -€85,826 | -96.7% |
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 25 October 2026 via checked.be.