Luc Van Dessel: 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 Van Dessel
Largest movements
- Current investments +€75,000
new in 2025: €75,000
- Cash -€54,660
down €54,660 (-45.5%), from €120,031 to €65,371
mainly Current investments (-€75,000) and Contributions, distributions and other (-€11,536)
- Tangible fixed assets -€14,052
down €14,052 (-31.4%), from €44,738 to €30,686
of which Furniture and vehicles: -€11,089
- Reserves +€13,900
up €13,900 (+9.6%), from €145,000 to €158,900
- Contributions -€5,000
down €5,000 (-80.6%), from €6,200 to €1,200
- Other debts -€2,511
down €2,511 (-9.2%), from €27,149 to €24,638
- Financial income -€1,014
down €1,014 (-56.4%), from €1,796 to €783
- Other operating charges -€703
down €703 (-33.1%), from €2,125 to €1,422
- Gross operating margin -€602
down €602 (-1.3%), from €45,650 to €45,047
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 | €192,673 | €200,693 | +€8,020 | +4.2% |
| Fixed assets | 21/28 | €45,188 | €31,136 | -€14,052 | -31.1% |
| Tangible fixed assets | 22/27 | €44,738 | €30,686 | -€14,052 | -31.4% |
| Plant, machinery and equipment | 23 | €6,118 | €3,155 | -€2,963 | -48.4% |
| Furniture and vehicles | 24 | €38,620 | €27,531 | -€11,089 | -28.7% |
| Financial fixed assets | 28 | €450 | €450 | = | 0.0% |
| Current assets | 29/58 | €147,485 | €169,557 | +€22,072 | +15.0% |
| Amounts receivable within one year | 40/41 | €18,164 | €18,855 | +€691 | +3.8% |
| Trade receivables | 40 | €18,007 | €18,855 | +€848 | +4.7% |
| Other amounts receivable | 41 | €156 | - | -€156 | |
| Current investments | 50/53 | - | €75,000 | +€75,000 | |
| Cash at bank and in hand | 54/58 | €120,031 | €65,371 | -€54,660 | -45.5% |
| Deferred charges and accrued income | 490/1 | €9,290 | €10,331 | +€1,041 | +11.2% |
| Total equity and liabilities | 10/49 | €192,673 | €200,693 | +€8,020 | +4.2% |
| Equity | 10/15 | €151,486 | €160,156 | +€8,669 | +5.7% |
| Contributions | 10/11 | €6,200 | €1,200 | -€5,000 | -80.6% |
| Reserves | 13 | €145,000 | €158,900 | +€13,900 | +9.6% |
| Distributable reserves | 133 | €145,000 | €158,900 | +€13,900 | +9.6% |
| Profit (loss) carried forward | 14 | €286 | €56 | -€231 | -80.5% |
| Amounts payable | 17/49 | €41,186 | €40,537 | -€649 | -1.6% |
| Amounts payable within one year | 42/48 | €39,405 | €39,316 | -€89 | -0.2% |
| Trade debts | 44 | €504 | €943 | +€439 | +87.0% |
| Suppliers | 440/4 | €504 | €943 | +€439 | +87.0% |
| Taxes, remuneration and social security | 45 | €11,752 | €13,735 | +€1,983 | +16.9% |
| Taxes | 450/3 | €9,502 | €11,485 | +€1,983 | +20.9% |
| Remuneration and social security | 454/9 | €2,250 | €2,250 | = | 0.0% |
| Other amounts payable | 47/48 | €27,149 | €24,638 | -€2,511 | -9.2% |
| Accrued charges and deferred income | 492/3 | €1,781 | €1,222 | -€559 | -31.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,376 | €14,651 | +€275 | +1.9% |
| Other operating charges | 640/8 | €2,125 | €1,422 | -€703 | -33.1% |
| Gross operating margin | 9900 | €45,650 | €45,047 | -€602 | -1.3% |
| Operating profit (loss) | 9901 | €29,148 | €28,974 | -€175 | -0.6% |
| Financial income | 75/76B | €1,796 | €783 | -€1,014 | -56.4% |
| Recurring financial income | 75 | €1,796 | €783 | -€1,014 | -56.4% |
| Financial charges | 65/66B | €835 | €540 | -€295 | -35.4% |
| Recurring financial charges | 65 | €835 | €540 | -€295 | -35.4% |
| Profit (loss) for the period before taxes | 9903 | €30,110 | €29,216 | -€893 | -3.0% |
| Income taxes | 67/77 | €9,172 | €9,011 | -€162 | -1.8% |
| Profit (loss) for the period | 9904 | €20,937 | €20,206 | -€732 | -3.5% |
| Profit (loss) for the period to be appropriated | 9905 | €20,937 | €20,206 | -€732 | -3.5% |
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 22 October 2026 via checked.be.