Luc Thys Management: 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 Thys Management
Largest movements
- Cash +€68,851
up €68,851 (+93.5%), from €73,662 to €142,513
mainly Net result for the year (+€42,269) and Depreciation (+€31,010)
- Tangible fixed assets -€31,010
down €31,010 (-26.6%), from €116,734 to €85,724
- Receivables within one year -€4,847
no longer reported in 2025 (was €4,847)
- Reserves +€42,269
up €42,269 (+27.3%), from €154,649 to €196,918
- Debts after one year -€10,295
down €10,295 (-53.5%), from €19,235 to €8,941
- Tax, wage and social debts +€4,232
up €4,232 (+118%), from €3,600 to €7,832
- Accrued charges and deferred income -€2,364
down €2,364 (-74.4%), from €3,176 to €812
- Gross operating margin +€15,811
up €15,811 (+20.4%), from €77,580 to €93,392
- Taxes +€7,018
up €7,018 (+62.9%), from €11,153 to €18,172
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 | €195,550 | €228,487 | +€32,938 | +16.8% |
| Fixed assets | 21/28 | €116,784 | €85,774 | -€31,010 | -26.6% |
| Tangible fixed assets | 22/27 | €116,734 | €85,724 | -€31,010 | -26.6% |
| Furniture and vehicles | 24 | €116,734 | €85,724 | -€31,010 | -26.6% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €78,766 | €142,714 | +€63,948 | +81.2% |
| Amounts receivable within one year | 40/41 | €4,847 | - | -€4,847 | |
| Other amounts receivable | 41 | €4,847 | - | -€4,847 | |
| Cash at bank and in hand | 54/58 | €73,662 | €142,513 | +€68,851 | +93.5% |
| Deferred charges and accrued income | 490/1 | €257 | €201 | -€57 | -22.0% |
| Total equity and liabilities | 10/49 | €195,550 | €228,487 | +€32,938 | +16.8% |
| Equity | 10/15 | €157,649 | €199,918 | +€42,269 | +26.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €154,649 | €196,918 | +€42,269 | +27.3% |
| Distributable reserves | 133 | €154,649 | €196,918 | +€42,269 | +27.3% |
| Amounts payable | 17/49 | €37,900 | €28,569 | -€9,331 | -24.6% |
| Amounts payable after more than one year | 17 | €19,235 | €8,941 | -€10,295 | -53.5% |
| Financial debts | 170/4 | €19,235 | €8,941 | -€10,295 | -53.5% |
| Amounts payable within one year | 42/48 | €15,489 | €18,817 | +€3,328 | +21.5% |
| Current portion of amounts payable after more than one year | 42 | €9,841 | €10,295 | +€454 | +4.6% |
| Trade debts | 44 | €2,048 | €691 | -€1,357 | -66.3% |
| Suppliers | 440/4 | €2,048 | €691 | -€1,357 | -66.3% |
| Taxes, remuneration and social security | 45 | €3,600 | €7,832 | +€4,232 | +118% |
| Taxes | 450/3 | €3,600 | €7,832 | +€4,232 | +118% |
| Accrued charges and deferred income | 492/3 | €3,176 | €812 | -€2,364 | -74.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,010 | €31,010 | = | 0.0% |
| Other operating charges | 640/8 | €1,223 | €645 | -€578 | -47.2% |
| Gross operating margin | 9900 | €77,580 | €93,392 | +€15,811 | +20.4% |
| Operating profit (loss) | 9901 | €45,347 | €61,736 | +€16,389 | +36.1% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,694 | €1,296 | -€399 | -23.5% |
| Recurring financial charges | 65 | €1,694 | €1,296 | -€399 | -23.5% |
| Profit (loss) for the period before taxes | 9903 | €43,653 | €60,440 | +€16,787 | +38.5% |
| Income taxes | 67/77 | €11,153 | €18,172 | +€7,018 | +62.9% |
| Profit (loss) for the period | 9904 | €32,500 | €42,269 | +€9,769 | +30.1% |
| Profit (loss) for the period to be appropriated | 9905 | €32,500 | €42,269 | +€9,769 | +30.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.