LUC STRUYF: 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 STRUYF
Largest movements
- Receivables within one year -€7,304
down €7,304 (-78.4%), from €9,313 to €2,009
of which Trade receivables: -€8,310
- Cash -€2,167
no longer reported in 2025 (was €2,167)
- Profit (loss) carried forward -€32,653
down €32,653 (-16.9%), from -€192,781 to -€225,435
- Other debts +€32,361
up €32,361 (+55.8%), from €57,950 to €90,311
- Trade debts -€6,300
down €6,300 (-15.0%), from €41,937 to €35,637
of which Suppliers: -€17,473
- Current portion of long-term debt -€3,733
no longer reported in 2025 (was €3,733)
- Tax, wage and social debts +€1,011
new in 2025: €1,011
- Gross operating margin -€16,589
down €16,589, from €2,126 to -€14,463
- Depreciation -€3,482
down €3,482 (-44.7%), from €7,794 to €4,311
- Other operating charges -€1,381
down €1,381 (-70.7%), from €1,954 to €573
- Financial charges -€161
down €161 (-40.9%), from €393 to €232
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €20,391 | €11,118 | -€9,274 | -45.5% |
| Fixed assets | 21/28 | €8,911 | €9,109 | +€197 | +2.2% |
| Tangible fixed assets | 22/27 | €7,892 | €8,089 | +€197 | +2.5% |
| Plant, machinery and equipment | 23 | €6,940 | €7,667 | +€727 | +10.5% |
| Furniture and vehicles | 24 | €951 | €422 | -€530 | -55.7% |
| Financial fixed assets | 28 | €1,020 | €1,020 | = | 0.0% |
| Current assets | 29/58 | €11,480 | €2,009 | -€9,471 | -82.5% |
| Amounts receivable within one year | 40/41 | €9,313 | €2,009 | -€7,304 | -78.4% |
| Trade receivables | 40 | €8,310 | - | -€8,310 | |
| Other amounts receivable | 41 | €1,003 | €2,009 | +€1,006 | +100% |
| Cash at bank and in hand | 54/58 | €2,167 | - | -€2,167 | |
| Total equity and liabilities | 10/49 | €20,391 | €11,118 | -€9,274 | -45.5% |
| Equity | 10/15 | -€96,178 | -€128,832 | -€32,653 | -34.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €78,053 | €78,053 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €76,198 | €76,198 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€192,781 | -€225,435 | -€32,653 | -16.9% |
| Amounts payable | 17/49 | €116,570 | €139,949 | +€23,380 | +20.1% |
| Amounts payable within one year | 42/48 | €103,620 | €127,000 | +€23,380 | +22.6% |
| Current portion of amounts payable after more than one year | 42 | €3,733 | - | -€3,733 | |
| Financial debts | 43 | - | €42 | +€42 | |
| Credit institutions | 430/8 | - | €42 | +€42 | |
| Trade debts | 44 | €41,937 | €35,637 | -€6,300 | -15.0% |
| Suppliers | 440/4 | €41,937 | €24,463 | -€17,473 | -41.7% |
| Bills of exchange payable | 441 | - | €11,173 | +€11,173 | |
| Taxes, remuneration and social security | 45 | - | €1,011 | +€1,011 | |
| Taxes | 450/3 | - | €1,011 | +€1,011 | |
| Other amounts payable | 47/48 | €57,950 | €90,311 | +€32,361 | +55.8% |
| Accrued charges and deferred income | 492/3 | €12,949 | €12,949 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,794 | €4,311 | -€3,482 | -44.7% |
| Other operating charges | 640/8 | €1,954 | €573 | -€1,381 | -70.7% |
| Gross operating margin | 9900 | €2,126 | -€14,463 | -€16,589 | |
| Operating profit (loss) | 9901 | -€7,622 | -€19,348 | -€11,725 | -154% |
| Financial income | 75/76B | €51 | €70 | +€19 | +37.7% |
| Recurring financial income | 75 | €51 | €70 | +€19 | +37.7% |
| Financial charges | 65/66B | €393 | €232 | -€161 | -40.9% |
| Recurring financial charges | 65 | €393 | €232 | -€161 | -40.9% |
| Profit (loss) for the period before taxes | 9903 | -€7,965 | -€19,510 | -€11,545 | -145% |
| Profit (loss) for the period | 9904 | -€7,965 | -€19,510 | -€11,545 | -145% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,965 | -€19,510 | -€11,545 | -145% |
Source: filed annual accounts (NBB), financial years ended 30 June 2023 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.