Lucien Bodart: 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.
Lucien Bodart
Largest movements
- Tangible fixed assets +€39,773
up €39,773 (+4,311%), from €923 to €40,695
- Receivables within one year +€11,781
up €11,781 (+169%), from €6,956 to €18,737
of which Other amounts receivable: +€11,844
- Cash +€9,664
up €9,664 (+44.8%), from €21,579 to €31,243
mainly Net result for the year (+€38,541) and Debts after one year (+€31,351)
- Profit (loss) carried forward +€38,541
new in 2025: €38,541
- Debts after one year +€31,351
new in 2025: €31,351
- Tax, wage and social debts -€19,442
down €19,442 (-74.4%), from €26,147 to €6,704
of which Taxes: -€19,836
- Current portion of long-term debt +€9,009
new in 2025: €9,009
- Other debts +€1,767
new in 2025: €1,767
- Gross operating margin +€7,876
up €7,876 (+14.3%), from €55,026 to €62,902
- Depreciation +€7,779
up €7,779 (+8,605%), from €90 to €7,870
- Taxes +€3,157
up €3,157 (+27.6%), from €11,457 to €14,614
- Other operating charges +€1,767
new in 2025: €1,767
- Financial charges +€1,265
new in 2025: €1,265
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 | €29,457 | €90,675 | +€61,218 | +208% |
| Fixed assets | 21/28 | €923 | €40,695 | +€39,773 | +4,311% |
| Tangible fixed assets | 22/27 | €923 | €40,695 | +€39,773 | +4,311% |
| Furniture and vehicles | 24 | €923 | €40,695 | +€39,773 | +4,311% |
| Current assets | 29/58 | €28,535 | €49,980 | +€21,445 | +75.2% |
| Amounts receivable within one year | 40/41 | €6,956 | €18,737 | +€11,781 | +169% |
| Trade receivables | 40 | €466 | €403 | -€63 | -13.6% |
| Other amounts receivable | 41 | €6,490 | €18,334 | +€11,844 | +182% |
| Cash at bank and in hand | 54/58 | €21,579 | €31,243 | +€9,664 | +44.8% |
| Total equity and liabilities | 10/49 | €29,457 | €90,675 | +€61,218 | +208% |
| Equity | 10/15 | €3,000 | €41,541 | +€38,541 | +1,285% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €38,541 | +€38,541 | |
| Amounts payable | 17/49 | €26,457 | €49,135 | +€22,677 | +85.7% |
| Amounts payable after more than one year | 17 | - | €31,351 | +€31,351 | |
| Financial debts | 170/4 | - | €31,351 | +€31,351 | |
| Amounts payable within one year | 42/48 | €26,457 | €17,783 | -€8,674 | -32.8% |
| Current portion of amounts payable after more than one year | 42 | - | €9,009 | +€9,009 | |
| Trade debts | 44 | €311 | €303 | -€8 | -2.6% |
| Suppliers | 440/4 | €311 | €303 | -€8 | -2.6% |
| Taxes, remuneration and social security | 45 | €26,147 | €6,704 | -€19,442 | -74.4% |
| Taxes | 450/3 | €24,901 | €5,064 | -€19,836 | -79.7% |
| Remuneration and social security | 454/9 | €1,246 | €1,640 | +€394 | +31.6% |
| Other amounts payable | 47/48 | - | €1,767 | +€1,767 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90 | €7,870 | +€7,779 | +8,605% |
| Other operating charges | 640/8 | - | €1,767 | +€1,767 | |
| Gross operating margin | 9900 | €55,026 | €62,902 | +€7,876 | +14.3% |
| Operating profit (loss) | 9901 | €54,936 | €53,265 | -€1,671 | -3.0% |
| Financial income | 75/76B | - | €1,155 | +€1,155 | |
| Recurring financial income | 75 | - | €1,155 | +€1,155 | |
| Financial charges | 65/66B | - | €1,265 | +€1,265 | |
| Recurring financial charges | 65 | - | €1,265 | +€1,265 | |
| Profit (loss) for the period before taxes | 9903 | €54,936 | €53,155 | -€1,781 | -3.2% |
| Income taxes | 67/77 | €11,457 | €14,614 | +€3,157 | +27.6% |
| Profit (loss) for the period | 9904 | €43,479 | €38,541 | -€4,938 | -11.4% |
| Profit (loss) for the period to be appropriated | 9905 | €43,479 | €38,541 | -€4,938 | -11.4% |
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 27 October 2026 via checked.be.