LUC PETIT: 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 PETIT
Largest movements
- Cash +€159,192
up €159,192 (+170%), from €93,832 to €253,024
mainly Net result for the year (+€175,978) and Depreciation (+€102,477)
- Tangible fixed assets -€16,004
down €16,004 (-1.4%), from €1.1m to €1.1m
of which Land and buildings: -€35,555
- Debts after one year -€98,994
down €98,994 (-12.6%), from €785,391 to €686,397
- Other debts +€93,190
up €93,190 (+480%), from €19,411 to €112,601
- Reserves +€63,356
up €63,356 (+26.0%), from €243,559 to €306,915
- Tax, wage and social debts +€58,357
up €58,357 (+106%), from €54,809 to €113,166
of which Taxes: +€57,138
- Current portion of long-term debt +€19,950
up €19,950 (+14.8%), from €134,984 to €154,934
- Gross operating margin +€115,288
up €115,288 (+36.6%), from €314,996 to €430,284
- Taxes +€36,614
up €36,614 (+77.4%), from €47,294 to €83,907
- Depreciation +€14,241
up €14,241 (+16.1%), from €88,236 to €102,477
- Staff costs +€5,365
up €5,365 (+12.3%), from €43,793 to €49,158
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 | €1,356,967 | €1,500,641 | +€143,674 | +10.6% |
| Formation expenses | 20 | €450 | €0 | -€450 | -100% |
| Fixed assets | 21/28 | €1,119,873 | €1,103,869 | -€16,004 | -1.4% |
| Tangible fixed assets | 22/27 | €1,119,873 | €1,103,869 | -€16,004 | -1.4% |
| Land and buildings | 22 | €574,003 | €538,447 | -€35,555 | -6.2% |
| Plant, machinery and equipment | 23 | €482,598 | €452,789 | -€29,808 | -6.2% |
| Furniture and vehicles | 24 | €63,273 | €112,632 | +€49,360 | +78.0% |
| Current assets | 29/58 | €236,644 | €396,772 | +€160,128 | +67.7% |
| Amounts receivable within one year | 40/41 | €21,826 | €24,561 | +€2,735 | +12.5% |
| Trade receivables | 40 | €4,451 | €2,641 | -€1,810 | -40.7% |
| Other amounts receivable | 41 | €17,375 | €21,920 | +€4,546 | +26.2% |
| Current investments | 50/53 | €117,824 | €117,824 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €93,832 | €253,024 | +€159,192 | +170% |
| Deferred charges and accrued income | 490/1 | €3,162 | €1,363 | -€1,799 | -56.9% |
| Total equity and liabilities | 10/49 | €1,356,967 | €1,500,641 | +€143,674 | +10.6% |
| Equity | 10/15 | €343,559 | €406,915 | +€63,356 | +18.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €243,559 | €306,915 | +€63,356 | +26.0% |
| Distributable reserves | 133 | €243,559 | €306,915 | +€63,356 | +26.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,013,408 | €1,093,725 | +€80,318 | +7.9% |
| Amounts payable after more than one year | 17 | €785,391 | €686,397 | -€98,994 | -12.6% |
| Financial debts | 170/4 | €785,391 | €686,397 | -€98,994 | -12.6% |
| Amounts payable within one year | 42/48 | €221,365 | €395,139 | +€173,775 | +78.5% |
| Current portion of amounts payable after more than one year | 42 | €134,984 | €154,934 | +€19,950 | +14.8% |
| Trade debts | 44 | €12,160 | €14,439 | +€2,279 | +18.7% |
| Suppliers | 440/4 | €12,160 | €14,439 | +€2,279 | +18.7% |
| Taxes, remuneration and social security | 45 | €54,809 | €113,166 | +€58,357 | +106% |
| Taxes | 450/3 | €46,657 | €103,795 | +€57,138 | +122% |
| Remuneration and social security | 454/9 | €8,152 | €9,370 | +€1,219 | +14.9% |
| Other amounts payable | 47/48 | €19,411 | €112,601 | +€93,190 | +480% |
| Accrued charges and deferred income | 492/3 | €6,652 | €12,189 | +€5,537 | +83.2% |
| Remuneration, social security and pensions | 62 | €43,793 | €49,158 | +€5,365 | +12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,236 | €102,477 | +€14,241 | +16.1% |
| Other operating charges | 640/8 | €11,976 | €8,127 | -€3,848 | -32.1% |
| Gross operating margin | 9900 | €314,996 | €430,284 | +€115,288 | +36.6% |
| Operating profit (loss) | 9901 | €170,991 | €270,522 | +€99,531 | +58.2% |
| Financial income | 75/76B | €197 | €668 | +€471 | +238% |
| Recurring financial income | 75 | €197 | €668 | +€471 | +238% |
| Financial charges | 65/66B | €11,242 | €11,305 | +€63 | +0.6% |
| Recurring financial charges | 65 | €11,242 | €11,305 | +€63 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | €159,947 | €259,885 | +€99,938 | +62.5% |
| Income taxes | 67/77 | €47,294 | €83,907 | +€36,614 | +77.4% |
| Profit (loss) for the period | 9904 | €112,653 | €175,978 | +€63,325 | +56.2% |
| Profit (loss) for the period to be appropriated | 9905 | €112,653 | €175,978 | +€63,325 | +56.2% |
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 22 October 2026 via checked.be.