LUC TORFS: 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 TORFS
Largest movements
- Receivables within one year -€270,288
down €270,288 (-42.1%), from €642,095 to €371,807
of which Other amounts receivable: -€306,878
- Cash +€17,915
up €17,915 (+88.4%), from €20,258 to €38,173
mainly Receivables within one year (+€270,288) and Net result for the year (+€44,632)
- Current portion of long-term debt -€121,962
down €121,962 (-67.7%), from €180,138 to €58,175
- Debts after one year -€86,521
down €86,521 (-73.8%), from €117,249 to €30,728
- Tax, wage and social debts -€71,125
down €71,125 (-50.9%), from €139,694 to €68,568
of which Taxes: -€48,230
- Other debts -€64,741
down €64,741 (-44.7%), from €144,684 to €79,943
- Reserves +€43,569
up €43,569 (+95.9%), from €45,417 to €88,986
- Other operating charges -€30,492
down €30,492 (-86.1%), from €35,403 to €4,911
- Taxes -€19,196
down €19,196 (-47.1%), from €40,737 to €21,541
- Gross operating margin -€12,715
down €12,715 (-6.0%), from €210,813 to €198,098
- Financial charges +€5,195
up €5,195 (+36.2%), from €14,349 to €19,544
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €694,624 | €435,051 | -€259,573 | -37.4% |
| Fixed assets | 21/28 | €14,220 | €10,638 | -€3,582 | -25.2% |
| Tangible fixed assets | 22/27 | €14,118 | €10,536 | -€3,582 | -25.4% |
| Plant, machinery and equipment | 23 | €2,997 | €3,764 | +€767 | +25.6% |
| Furniture and vehicles | 24 | €1,057 | €508 | -€549 | -51.9% |
| Other tangible fixed assets | 26 | €10,063 | €6,264 | -€3,800 | -37.8% |
| Financial fixed assets | 28 | €102 | €102 | = | 0.0% |
| Current assets | 29/58 | €680,404 | €424,414 | -€255,991 | -37.6% |
| Amounts receivable within one year | 40/41 | €642,095 | €371,807 | -€270,288 | -42.1% |
| Trade receivables | 40 | €174,105 | €210,695 | +€36,590 | +21.0% |
| Other amounts receivable | 41 | €467,990 | €161,111 | -€306,878 | -65.6% |
| Cash at bank and in hand | 54/58 | €20,258 | €38,173 | +€17,915 | +88.4% |
| Deferred charges and accrued income | 490/1 | €18,051 | €14,434 | -€3,617 | -20.0% |
| Total equity and liabilities | 10/49 | €694,624 | €435,051 | -€259,573 | -37.4% |
| Equity | 10/15 | €70,417 | €113,986 | +€43,569 | +61.9% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €45,417 | €88,986 | +€43,569 | +95.9% |
| Distributable reserves | 133 | €45,417 | €88,986 | +€43,569 | +95.9% |
| Amounts payable | 17/49 | €624,207 | €321,065 | -€303,142 | -48.6% |
| Amounts payable after more than one year | 17 | €117,249 | €30,728 | -€86,521 | -73.8% |
| Financial debts | 170/4 | €117,249 | €30,728 | -€86,521 | -73.8% |
| Amounts payable within one year | 42/48 | €505,887 | €290,205 | -€215,683 | -42.6% |
| Current portion of amounts payable after more than one year | 42 | €180,138 | €58,175 | -€121,962 | -67.7% |
| Financial debts | 43 | €26,461 | €30,000 | +€3,539 | +13.4% |
| Credit institutions | 430/8 | €26,461 | €30,000 | +€3,539 | +13.4% |
| Trade debts | 44 | €12,749 | €51,131 | +€38,382 | +301% |
| Suppliers | 440/4 | €12,749 | €51,131 | +€38,382 | +301% |
| Advances received on contracts in progress | 46 | €2,162 | €2,387 | +€225 | +10.4% |
| Taxes, remuneration and social security | 45 | €139,694 | €68,568 | -€71,125 | -50.9% |
| Taxes | 450/3 | €87,470 | €39,240 | -€48,230 | -55.1% |
| Remuneration and social security | 454/9 | €52,223 | €29,328 | -€22,895 | -43.8% |
| Other amounts payable | 47/48 | €144,684 | €79,943 | -€64,741 | -44.7% |
| Accrued charges and deferred income | 492/3 | €1,070 | €132 | -€938 | -87.7% |
| Remuneration, social security and pensions | 62 | €99,895 | €101,580 | +€1,685 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,686 | €5,962 | +€276 | +4.9% |
| Other operating charges | 640/8 | €35,403 | €4,911 | -€30,492 | -86.1% |
| Gross operating margin | 9900 | €210,813 | €198,098 | -€12,715 | -6.0% |
| Operating profit (loss) | 9901 | €69,829 | €85,645 | +€15,816 | +22.7% |
| Financial income | 75/76B | €95 | €71 | -€24 | -25.1% |
| Recurring financial income | 75 | €0 | €71 | +€71 | +20,186% |
| Non-recurring financial income | 76B | €94 | - | -€94 | |
| Financial charges | 65/66B | €14,349 | €19,544 | +€5,195 | +36.2% |
| Recurring financial charges | 65 | €14,349 | €19,544 | +€5,195 | +36.2% |
| Profit (loss) for the period before taxes | 9903 | €55,574 | €66,172 | +€10,598 | +19.1% |
| Income taxes | 67/77 | €40,737 | €21,541 | -€19,196 | -47.1% |
| Profit (loss) for the period | 9904 | €14,838 | €44,632 | +€29,794 | +201% |
| Profit (loss) for the period to be appropriated | 9905 | €14,838 | €44,632 | +€29,794 | +201% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.