LUC SOETE: 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 SOETE
Largest movements
- Cash +€124,393
up €124,393 (+49.7%), from €250,294 to €374,687
mainly Receivables after one year (+€100,000) and Depreciation (+€75,497)
- Receivables after one year -€100,000
down €100,000 (-100%), from €100,000 to €0
- Tangible fixed assets -€75,497
down €75,497 (-8.6%), from €877,221 to €801,724
of which Land and buildings: -€48,400
- Receivables within one year -€16,313
down €16,313 (-62.3%), from €26,186 to €9,873
of which Other amounts receivable: -€9,829
- Other debts -€101,322
down €101,322 (-95.0%), from €106,673 to €5,350
- Reserves +€51,087
up €51,087 (+3.5%), from €1.5m to €1.5m
of which Distributable reserves: +€51,087
- Financial income +€13,618
up €13,618 (+5,580%), from €244 to €13,863
- Financial charges -€7,874
down €7,874 (-87.0%), from €9,055 to €1,180
- Gross operating margin -€2,977
down €2,977 (-2.0%), from €147,119 to €144,142
- Taxes +€2,793
up €2,793 (+15.6%), from €17,947 to €20,740
- Depreciation -€2,101
down €2,101 (-2.7%), from €77,598 to €75,497
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 | €1,606,007 | €1,542,019 | -€63,988 | -4.0% |
| Fixed assets | 21/28 | €877,221 | €801,724 | -€75,497 | -8.6% |
| Tangible fixed assets | 22/27 | €877,221 | €801,724 | -€75,497 | -8.6% |
| Land and buildings | 22 | €788,292 | €739,892 | -€48,400 | -6.1% |
| Plant, machinery and equipment | 23 | €2,399 | €1,532 | -€867 | -36.1% |
| Furniture and vehicles | 24 | €86,529 | €60,300 | -€26,230 | -30.3% |
| Current assets | 29/58 | €728,786 | €740,295 | +€11,509 | +1.6% |
| Amounts receivable after more than one year | 29 | €100,000 | €0 | -€100,000 | -100% |
| Other amounts receivable | 291 | €100,000 | €0 | -€100,000 | -100% |
| Amounts receivable within one year | 40/41 | €26,186 | €9,873 | -€16,313 | -62.3% |
| Trade receivables | 40 | €16,357 | €9,873 | -€6,484 | -39.6% |
| Other amounts receivable | 41 | €9,829 | €0 | -€9,829 | -100% |
| Current investments | 50/53 | €350,266 | €350,266 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €250,294 | €374,687 | +€124,393 | +49.7% |
| Deferred charges and accrued income | 490/1 | €2,040 | €5,469 | +€3,429 | +168% |
| Total equity and liabilities | 10/49 | €1,606,007 | €1,542,019 | -€63,988 | -4.0% |
| Equity | 10/15 | €1,464,026 | €1,515,113 | +€51,087 | +3.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,457,826 | €1,508,913 | +€51,087 | +3.5% |
| Non-distributable reserves | 130/1 | €10,365 | €10,365 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,365 | €10,365 | = | 0.0% |
| Distributable reserves | 133 | €1,447,461 | €1,498,548 | +€51,087 | +3.5% |
| Amounts payable | 17/49 | €141,981 | €26,906 | -€115,075 | -81.0% |
| Amounts payable within one year | 42/48 | €132,996 | €22,900 | -€110,096 | -82.8% |
| Trade debts | 44 | €3,748 | €7,961 | +€4,213 | +112% |
| Suppliers | 440/4 | €3,748 | €7,961 | +€4,213 | +112% |
| Taxes, remuneration and social security | 45 | €22,575 | €9,588 | -€12,987 | -57.5% |
| Taxes | 450/3 | €22,575 | €9,588 | -€12,987 | -57.5% |
| Other amounts payable | 47/48 | €106,673 | €5,350 | -€101,322 | -95.0% |
| Accrued charges and deferred income | 492/3 | €8,986 | €4,006 | -€4,980 | -55.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,598 | €75,497 | -€2,101 | -2.7% |
| Other operating charges | 640/8 | €7,937 | €9,500 | +€1,563 | +19.7% |
| Gross operating margin | 9900 | €147,119 | €144,142 | -€2,977 | -2.0% |
| Operating profit (loss) | 9901 | €61,584 | €59,145 | -€2,439 | -4.0% |
| Financial income | 75/76B | €244 | €13,863 | +€13,618 | +5,580% |
| Recurring financial income | 75 | €244 | €13,863 | +€13,618 | +5,580% |
| Financial charges | 65/66B | €9,055 | €1,180 | -€7,874 | -87.0% |
| Recurring financial charges | 65 | €9,055 | €1,180 | -€7,874 | -87.0% |
| Profit (loss) for the period before taxes | 9903 | €52,774 | €71,827 | +€19,054 | +36.1% |
| Income taxes | 67/77 | €17,947 | €20,740 | +€2,793 | +15.6% |
| Profit (loss) for the period | 9904 | €34,827 | €51,087 | +€16,261 | +46.7% |
| Profit (loss) for the period to be appropriated | 9905 | €34,827 | €51,087 | +€16,261 | +46.7% |
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.