LUC SADONES: 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 SADONES
Largest movements
- Cash -€28,254
down €28,254 (-13.3%), from €212,384 to €184,130
mainly Trade debts (-€92,075) and Current portion of long-term debt (-€6,127)
- Tangible fixed assets -€20,015
down €20,015 (-23.9%), from €83,802 to €63,788
of which Leasing and similar rights: -€10,550
- Receivables within one year -€9,692
down €9,692 (-6.1%), from €158,133 to €148,442
of which Trade receivables: -€38,077
- Trade debts -€92,075
down €92,075 (-76.5%), from €120,410 to €28,335
- Tax, wage and social debts +€23,280
up €23,280 (+183%), from €12,744 to €36,024
of which Taxes: +€23,700
- Reserves +€16,003
up €16,003 (+5.4%), from €298,600 to €314,603
of which Distributable reserves: +€16,003
- Current portion of long-term debt -€6,127
down €6,127 (-100%), from €6,127 to €0
- Gross operating margin -€54,320
down €54,320 (-17.6%), from €309,291 to €254,972
- Staff costs -€20,292
down €20,292 (-9.3%), from €219,266 to €198,974
- Taxes -€10,996
down €10,996 (-56.8%), from €19,352 to €8,356
- Financial charges +€4,057
up €4,057 (+221%), from €1,840 to €5,897
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 | €489,510 | €430,591 | -€58,920 | -12.0% |
| Fixed assets | 21/28 | €83,802 | €63,788 | -€20,015 | -23.9% |
| Tangible fixed assets | 22/27 | €83,802 | €63,788 | -€20,015 | -23.9% |
| Land and buildings | 22 | €524 | €393 | -€131 | -25.0% |
| Plant, machinery and equipment | 23 | €6,888 | €5,614 | -€1,273 | -18.5% |
| Furniture and vehicles | 24 | €21,161 | €15,010 | -€6,151 | -29.1% |
| Leasing and similar rights | 25 | €42,202 | €31,651 | -€10,550 | -25.0% |
| Other tangible fixed assets | 26 | €13,028 | €11,119 | -€1,909 | -14.7% |
| Current assets | 29/58 | €405,708 | €366,803 | -€38,905 | -9.6% |
| Stocks and contracts in progress | 3 | €29,116 | €32,043 | +€2,926 | +10.0% |
| Stocks | 30/36 | €1,500 | €1,500 | = | 0.0% |
| Contracts in progress | 37 | €27,616 | €30,543 | +€2,926 | +10.6% |
| Amounts receivable within one year | 40/41 | €158,133 | €148,442 | -€9,692 | -6.1% |
| Trade receivables | 40 | €98,530 | €60,453 | -€38,077 | -38.6% |
| Other amounts receivable | 41 | €59,604 | €87,989 | +€28,385 | +47.6% |
| Cash at bank and in hand | 54/58 | €212,384 | €184,130 | -€28,254 | -13.3% |
| Deferred charges and accrued income | 490/1 | €6,074 | €2,189 | -€3,886 | -64.0% |
| Total equity and liabilities | 10/49 | €489,510 | €430,591 | -€58,920 | -12.0% |
| Equity | 10/15 | €348,179 | €364,182 | +€16,003 | +4.6% |
| Contributions | 10/11 | €49,579 | €49,579 | = | 0.0% |
| Reserves | 13 | €298,600 | €314,603 | +€16,003 | +5.4% |
| Tax-exempt reserves | 132 | €18,096 | €18,096 | = | 0.0% |
| Distributable reserves | 133 | €280,504 | €296,507 | +€16,003 | +5.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €141,331 | €66,409 | -€74,922 | -53.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €141,331 | €66,409 | -€74,922 | -53.0% |
| Current portion of amounts payable after more than one year | 42 | €6,127 | €0 | -€6,127 | -100% |
| Trade debts | 44 | €120,410 | €28,335 | -€92,075 | -76.5% |
| Suppliers | 440/4 | €120,410 | €28,335 | -€92,075 | -76.5% |
| Taxes, remuneration and social security | 45 | €12,744 | €36,024 | +€23,280 | +183% |
| Taxes | 450/3 | €4,250 | €27,950 | +€23,700 | +558% |
| Remuneration and social security | 454/9 | €8,494 | €8,074 | -€420 | -4.9% |
| Other amounts payable | 47/48 | €2,051 | €2,051 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €219,266 | €198,974 | -€20,292 | -9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,912 | €24,105 | +€193 | +0.8% |
| Other operating charges | 640/8 | €2,856 | €2,883 | +€27 | +1.0% |
| Gross operating margin | 9900 | €309,291 | €254,972 | -€54,320 | -17.6% |
| Operating profit (loss) | 9901 | €63,257 | €29,009 | -€34,248 | -54.1% |
| Financial income | 75/76B | €798 | €1,247 | +€449 | +56.2% |
| Recurring financial income | 75 | €798 | €1,247 | +€449 | +56.2% |
| Financial charges | 65/66B | €1,840 | €5,897 | +€4,057 | +221% |
| Recurring financial charges | 65 | €1,840 | €5,897 | +€4,057 | +221% |
| Profit (loss) for the period before taxes | 9903 | €62,216 | €24,359 | -€37,856 | -60.8% |
| Income taxes | 67/77 | €19,352 | €8,356 | -€10,996 | -56.8% |
| Profit (loss) for the period | 9904 | €42,863 | €16,003 | -€26,861 | -62.7% |
| Profit (loss) for the period to be appropriated | 9905 | €42,863 | €16,003 | -€26,861 | -62.7% |
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 31 October 2026 via checked.be.