LUC VAN BAELEN: what changed
LUC VAN BAELEN
Largest movements
- Current investments +€46,430
up €46,430 (+9.4%), from €492,835 to €539,265
- Cash +€46,181
up €46,181 (+164%), from €28,082 to €74,264
mainly Net result for the year (+€86,407) and Receivables within one year (+€14,426)
- Receivables within one year -€14,426
down €14,426 (-48.1%), from €30,000 to €15,574
- Reserves +€77,950
up €77,950 (+15.4%), from €506,398 to €584,348
of which Distributable reserves: +€77,950
- Gross operating margin -€16,274
down €16,274 (-12.1%), from €134,771 to €118,497
- Taxes -€7,538
down €7,538 (-17.2%), from €43,884 to €36,346
- Financial income +€5,860
up €5,860 (+350%), from €1,675 to €7,535
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €551,831 | €629,560 | +€77,729 | +14.1% |
| Fixed assets | 21/28 | €913 | €457 | -€457 | -50.0% |
| Tangible fixed assets | 22/27 | €913 | €457 | -€457 | -50.0% |
| Land and buildings | 22 | €913 | €457 | -€457 | -50.0% |
| Current assets | 29/58 | €550,917 | €629,103 | +€78,186 | +14.2% |
| Amounts receivable within one year | 40/41 | €30,000 | €15,574 | -€14,426 | -48.1% |
| Other amounts receivable | 41 | €30,000 | €15,574 | -€14,426 | -48.1% |
| Current investments | 50/53 | €492,835 | €539,265 | +€46,430 | +9.4% |
| Cash at bank and in hand | 54/58 | €28,082 | €74,264 | +€46,181 | +164% |
| Total equity and liabilities | 10/49 | €551,831 | €629,560 | +€77,729 | +14.1% |
| Equity | 10/15 | €541,398 | €619,348 | +€77,950 | +14.4% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Contributions outside capital | 11 | €35,000 | €35,000 | = | 0.0% |
| Other | 1109/19 | €35,000 | €35,000 | = | 0.0% |
| Reserves | 13 | €506,398 | €584,348 | +€77,950 | +15.4% |
| Non-distributable reserves | 130/1 | €3,500 | €3,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,500 | €3,500 | = | 0.0% |
| Distributable reserves | 133 | €502,898 | €580,848 | +€77,950 | +15.5% |
| Amounts payable | 17/49 | €10,433 | €10,212 | -€221 | -2.1% |
| Amounts payable within one year | 42/48 | €10,433 | €10,212 | -€221 | -2.1% |
| Trade debts | 44 | €711 | €802 | +€91 | +12.9% |
| Suppliers | 440/4 | €711 | €802 | +€91 | +12.9% |
| Taxes, remuneration and social security | 45 | €8,927 | €8,641 | -€286 | -3.2% |
| Taxes | 450/3 | €8,927 | €8,641 | -€286 | -3.2% |
| Other amounts payable | 47/48 | €795 | €769 | -€26 | -3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €457 | €457 | = | 0.0% |
| Other operating charges | 640/8 | €1,748 | €1,987 | +€239 | +13.7% |
| Gross operating margin | 9900 | €134,771 | €118,497 | -€16,274 | -12.1% |
| Operating profit (loss) | 9901 | €132,566 | €116,053 | -€16,513 | -12.5% |
| Financial income | 75/76B | €1,675 | €7,535 | +€5,860 | +350% |
| Recurring financial income | 75 | €1,675 | €7,535 | +€5,860 | +350% |
| Financial charges | 65/66B | €1,085 | €834 | -€251 | -23.1% |
| Recurring financial charges | 65 | €1,085 | €834 | -€251 | -23.1% |
| Profit (loss) for the period before taxes | 9903 | €133,156 | €122,754 | -€10,402 | -7.8% |
| Income taxes | 67/77 | €43,884 | €36,346 | -€7,538 | -17.2% |
| Profit (loss) for the period | 9904 | €89,272 | €86,407 | -€2,864 | -3.2% |
| Profit (loss) for the period to be appropriated | 9905 | €89,272 | €86,407 | -€2,864 | -3.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.