LUC SWITTEN: 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 SWITTEN
Largest movements
- Receivables within one year -€172,694
down €172,694 (-75.4%), from €228,986 to €56,292
of which Other amounts receivable: -€180,907
- Tangible fixed assets +€117,576
up €117,576 (+31.4%), from €374,780 to €492,356
of which Leasing and similar rights: +€134,913
- Cash +€105,555
up €105,555 (+192%), from €54,978 to €160,533
mainly Receivables within one year (+€172,694) and Net result for the year (+€165,765)
- Reserves -€100,592
down €100,592 (-16.9%), from €595,645 to €495,054
- Current portion of long-term debt +€55,800
up €55,800 (+139%), from €40,225 to €96,025
- Other debts +€40,002
up €40,002 (+580%), from €6,895 to €46,898
- Debts after one year +€31,056
up €31,056 (+61.2%), from €50,707 to €81,763
- Tax, wage and social debts +€23,751
up €23,751 (+116%), from €20,466 to €44,218
- Taxes +€38,332
up €38,332 (+116%), from €32,954 to €71,287
- Gross operating margin +€20,840
up €20,840 (+8.4%), from €246,645 to €267,485
- Depreciation +€5,499
up €5,499 (+31.7%), from €17,339 to €22,839
- Financial charges -€5,194
down €5,194 (-67.7%), from €7,675 to €2,481
- Financial income -€4,119
down €4,119 (-69.0%), from €5,970 to €1,852
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 | €729,780 | €780,301 | +€50,521 | +6.9% |
| Fixed assets | 21/28 | €375,780 | €493,356 | +€117,576 | +31.3% |
| Tangible fixed assets | 22/27 | €374,780 | €492,356 | +€117,576 | +31.4% |
| Land and buildings | 22 | €374,480 | €357,443 | -€17,037 | -4.5% |
| Plant, machinery and equipment | 23 | €300 | €0 | -€300 | -100% |
| Leasing and similar rights | 25 | - | €134,913 | +€134,913 | |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €354,001 | €286,946 | -€67,055 | -18.9% |
| Amounts receivable after more than one year | 29 | €65,000 | €65,000 | = | 0.0% |
| Other amounts receivable | 291 | €65,000 | €65,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €228,986 | €56,292 | -€172,694 | -75.4% |
| Trade receivables | 40 | €31,033 | €39,246 | +€8,213 | +26.5% |
| Other amounts receivable | 41 | €197,953 | €17,046 | -€180,907 | -91.4% |
| Cash at bank and in hand | 54/58 | €54,978 | €160,533 | +€105,555 | +192% |
| Deferred charges and accrued income | 490/1 | €5,037 | €5,120 | +€83 | +1.7% |
| Total equity and liabilities | 10/49 | €729,780 | €780,301 | +€50,521 | +6.9% |
| Equity | 10/15 | €601,851 | €501,259 | -€100,592 | -16.7% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €595,645 | €495,054 | -€100,592 | -16.9% |
| Distributable reserves | 133 | €595,645 | €495,054 | -€100,592 | -16.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €127,929 | €279,042 | +€151,113 | +118% |
| Amounts payable after more than one year | 17 | €50,707 | €81,763 | +€31,056 | +61.2% |
| Financial debts | 170/4 | €50,707 | €81,763 | +€31,056 | +61.2% |
| Amounts payable within one year | 42/48 | €75,972 | €195,779 | +€119,807 | +158% |
| Current portion of amounts payable after more than one year | 42 | €40,225 | €96,025 | +€55,800 | +139% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €8,386 | €8,639 | +€253 | +3.0% |
| Suppliers | 440/4 | €8,386 | €8,639 | +€253 | +3.0% |
| Taxes, remuneration and social security | 45 | €20,466 | €44,218 | +€23,751 | +116% |
| Taxes | 450/3 | €20,466 | €44,218 | +€23,751 | +116% |
| Other amounts payable | 47/48 | €6,895 | €46,898 | +€40,002 | +580% |
| Accrued charges and deferred income | 492/3 | €1,250 | €1,500 | +€250 | +20.0% |
| Non-recurring operating income | 76A | €35,000 | €18,508 | -€16,492 | -47.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,339 | €22,839 | +€5,499 | +31.7% |
| Other operating charges | 640/8 | €6,277 | €6,665 | +€388 | +6.2% |
| Non-recurring operating charges | 66A | €111,663 | €300 | -€111,363 | -99.7% |
| Gross operating margin | 9900 | €246,645 | €267,485 | +€20,840 | +8.4% |
| Operating profit (loss) | 9901 | €111,365 | €237,681 | +€126,316 | +113% |
| Financial income | 75/76B | €5,970 | €1,852 | -€4,119 | -69.0% |
| Recurring financial income | 75 | €5,970 | €1,852 | -€4,119 | -69.0% |
| Financial charges | 65/66B | €7,675 | €2,481 | -€5,194 | -67.7% |
| Recurring financial charges | 65 | €7,675 | €2,481 | -€5,194 | -67.7% |
| Profit (loss) for the period before taxes | 9903 | €109,660 | €237,052 | +€127,391 | +116% |
| Income taxes | 67/77 | €32,954 | €71,287 | +€38,332 | +116% |
| Profit (loss) for the period | 9904 | €76,706 | €165,765 | +€89,059 | +116% |
| Profit (loss) for the period to be appropriated | 9905 | €76,706 | €165,765 | +€89,059 | +116% |
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 19 October 2026 via checked.be.