Lucky Cycle: 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.
Lucky Cycle
Largest movements
- Receivables within one year -€40,962
down €40,962 (-11.9%), from €344,040 to €303,078
of which Trade receivables: -€43,714
- Cash -€33,483
down €33,483 (-67.3%), from €49,751 to €16,268
mainly Investment in fixed assets (net) (-€252,311) and Net result for the year (-€77,399)
- Intangible fixed assets +€22,751
up €22,751 (+3.8%), from €600,196 to €622,947
- Profit (loss) carried forward -€77,399
down €77,399 (-6.5%), from -€1.2m to -€1.3m
- Debts after one year +€30,250
up €30,250 (+3.9%), from €785,058 to €815,308
- Current portion of long-term debt +€16,072
new in 2025: €16,072
- Tax, wage and social debts -€15,354
down €15,354 (-40.2%), from €38,194 to €22,840
of which Remuneration and social security: -€15,447
- Gross operating margin -€93,710
down €93,710 (-15.9%), from €590,951 to €497,241
- Depreciation +€32,106
up €32,106 (+16.2%), from €197,859 to €229,965
- Staff costs -€21,617
down €21,617 (-6.5%), from €333,230 to €311,613
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 | €996,659 | €944,375 | -€52,284 | -5.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €601,200 | €623,545 | +€22,345 | +3.7% |
| Intangible fixed assets | 21 | €600,196 | €622,947 | +€22,751 | +3.8% |
| Tangible fixed assets | 22/27 | €904 | €499 | -€406 | -44.8% |
| Furniture and vehicles | 24 | €904 | €499 | -€406 | -44.8% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €395,459 | €320,830 | -€74,629 | -18.9% |
| Amounts receivable within one year | 40/41 | €344,040 | €303,078 | -€40,962 | -11.9% |
| Trade receivables | 40 | €338,416 | €294,701 | -€43,714 | -12.9% |
| Other amounts receivable | 41 | €5,625 | €8,377 | +€2,752 | +48.9% |
| Cash at bank and in hand | 54/58 | €49,751 | €16,268 | -€33,483 | -67.3% |
| Deferred charges and accrued income | 490/1 | €1,667 | €1,483 | -€184 | -11.0% |
| Total equity and liabilities | 10/49 | €996,659 | €944,375 | -€52,284 | -5.2% |
| Equity | 10/15 | -€126,288 | -€203,687 | -€77,399 | -61.3% |
| Contributions | 10/11 | €1,061,500 | €1,061,500 | = | 0.0% |
| Capital | 10 | €1,061,500 | €1,061,500 | = | 0.0% |
| Issued capital | 100 | €1,061,500 | €1,061,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,187,788 | -€1,265,187 | -€77,399 | -6.5% |
| Amounts payable | 17/49 | €1,122,947 | €1,148,062 | +€25,115 | +2.2% |
| Amounts payable after more than one year | 17 | €785,058 | €815,308 | +€30,250 | +3.9% |
| Other amounts payable | 178/9 | €785,058 | €815,308 | +€30,250 | +3.9% |
| Amounts payable within one year | 42/48 | €328,943 | €328,693 | -€249 | -0.1% |
| Current portion of amounts payable after more than one year | 42 | - | €16,072 | +€16,072 | |
| Trade debts | 44 | €290,749 | €289,781 | -€967 | -0.3% |
| Suppliers | 440/4 | €290,749 | €289,781 | -€967 | -0.3% |
| Taxes, remuneration and social security | 45 | €38,194 | €22,840 | -€15,354 | -40.2% |
| Taxes | 450/3 | €0 | €93 | +€93 | |
| Remuneration and social security | 454/9 | €38,194 | €22,747 | -€15,447 | -40.4% |
| Accrued charges and deferred income | 492/3 | €8,946 | €4,061 | -€4,886 | -54.6% |
| Remuneration, social security and pensions | 62 | €333,230 | €311,613 | -€21,617 | -6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €197,859 | €229,965 | +€32,106 | +16.2% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | €590,951 | €497,241 | -€93,710 | -15.9% |
| Operating profit (loss) | 9901 | €58,894 | -€45,336 | -€104,230 | |
| Financial charges | 65/66B | €32,606 | €32,062 | -€544 | -1.7% |
| Recurring financial charges | 65 | €32,606 | €32,062 | -€544 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | €26,287 | -€77,399 | -€103,686 | |
| Profit (loss) for the period | 9904 | €26,287 | -€77,399 | -€103,686 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,287 | -€77,399 | -€103,686 |
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 29 October 2026 via checked.be.