Lucas Boute: 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.
Lucas Boute
Largest movements
- Cash -€50,987
down €50,987 (-79.6%), from €64,023 to €13,037
mainly Contributions, distributions and other (-€80,000) and Receivables within one year (-€10,945)
- Receivables within one year +€10,945
up €10,945 (+152%), from €7,183 to €18,129
of which Trade receivables: +€7,091
- Deferred charges and accrued income +€5,545
up €5,545 (+230%), from €2,409 to €7,955
- Tangible fixed assets +€1,310
up €1,310 (+9.0%), from €14,565 to €15,874
of which Plant, machinery and equipment: +€3,070
- Reserves -€42,704
down €42,704 (-50.9%), from €83,946 to €41,242
- Other debts +€8,972
up €8,972, from €0 to €8,972
- Gross operating margin -€4,549
down €4,549 (-7.8%), from €58,166 to €53,618
- Depreciation +€1,681
up €1,681 (+96.6%), from €1,739 to €3,420
- Taxes -€1,060
down €1,060 (-8.9%), from €11,893 to €10,832
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 | €88,181 | €54,994 | -€33,186 | -37.6% |
| Fixed assets | 21/28 | €14,565 | €15,874 | +€1,310 | +9.0% |
| Tangible fixed assets | 22/27 | €14,565 | €15,874 | +€1,310 | +9.0% |
| Plant, machinery and equipment | 23 | - | €3,070 | +€3,070 | |
| Furniture and vehicles | 24 | €14,565 | €12,805 | -€1,760 | -12.1% |
| Current assets | 29/58 | €73,616 | €39,120 | -€34,496 | -46.9% |
| Amounts receivable within one year | 40/41 | €7,183 | €18,129 | +€10,945 | +152% |
| Trade receivables | 40 | €3,671 | €10,762 | +€7,091 | +193% |
| Other amounts receivable | 41 | €3,512 | €7,367 | +€3,855 | +110% |
| Cash at bank and in hand | 54/58 | €64,023 | €13,037 | -€50,987 | -79.6% |
| Deferred charges and accrued income | 490/1 | €2,409 | €7,955 | +€5,545 | +230% |
| Total equity and liabilities | 10/49 | €88,181 | €54,994 | -€33,186 | -37.6% |
| Equity | 10/15 | €86,946 | €44,242 | -€42,704 | -49.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €83,946 | €41,242 | -€42,704 | -50.9% |
| Distributable reserves | 133 | €83,946 | €41,242 | -€42,704 | -50.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,235 | €10,753 | +€9,518 | +771% |
| Amounts payable within one year | 42/48 | €1,235 | €10,753 | +€9,518 | +771% |
| Trade debts | 44 | €1,235 | €1,781 | +€546 | +44.2% |
| Suppliers | 440/4 | €1,235 | €1,781 | +€546 | +44.2% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | €8,972 | +€8,972 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,739 | €3,420 | +€1,681 | +96.6% |
| Other operating charges | 640/8 | €1,052 | €1,075 | +€23 | +2.1% |
| Gross operating margin | 9900 | €58,166 | €53,618 | -€4,549 | -7.8% |
| Operating profit (loss) | 9901 | €55,375 | €49,123 | -€6,252 | -11.3% |
| Financial income | 75/76B | €684 | €192 | -€492 | -71.9% |
| Recurring financial income | 75 | €684 | €192 | -€492 | -71.9% |
| Financial charges | 65/66B | €1,441 | €1,187 | -€254 | -17.6% |
| Recurring financial charges | 65 | €1,441 | €1,187 | -€254 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €54,618 | €48,128 | -€6,490 | -11.9% |
| Income taxes | 67/77 | €11,893 | €10,832 | -€1,060 | -8.9% |
| Profit (loss) for the period | 9904 | €42,725 | €37,296 | -€5,429 | -12.7% |
| Profit (loss) for the period to be appropriated | 9905 | €42,725 | €37,296 | -€5,429 | -12.7% |
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 13 October 2026 via checked.be.