LUIS VASCONCELOS: what changed
Two fiscal 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.
LUIS VASCONCELOS
Largest movements
- Receivables within one year +€439,405
up €439,405 (+51.1%), from €860,086 to €1.3m
of which Other amounts receivable: +€397,934
- Receivables after one year -€190,000
down €190,000 (-19.8%), from €960,000 to €770,000
- Tangible fixed assets -€49,148
down €49,148 (-8.6%), from €568,639 to €519,491
of which Other tangible fixed assets: -€25,496
- Deferred charges and accrued income +€35,074
up €35,074 (+76.6%), from €45,777 to €80,852
- Tax, wage and social debts +€163,653
up €163,653 (+52.7%), from €310,517 to €474,170
of which Taxes: +€163,653
- Reserves +€82,638
up €82,638 (+6.5%), from €1.3m to €1.3m
of which Non-distributable reserves: +€82,517
- Trade debts +€47,189
up €47,189 (+8.1%), from €584,555 to €631,745
- Current portion of long-term debt -€28,807
down €28,807 (-54.1%), from €53,235 to €24,428
- Gross operating margin -€161,768
down €161,768 (-46.0%), from €351,794 to €190,026
- Taxes -€43,843
down €43,843 (-27.8%), from €157,681 to €113,838
- Financial income +€35,389
up €35,389 (+84.5%), from €41,878 to €77,267
- Financial charges -€5,565
down €5,565 (-48.6%), from €11,451 to €5,886
- Depreciation -€4,210
down €4,210 (-7.1%), from €59,346 to €55,136
From the 2019 result to the 2020 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.
Cash bridge derived
Derived from the 2019 and 2020 balance sheets and the 2020 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2019 | 2020 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,434,511 | €2,670,099 | +€235,588 | +9.7% |
| Fixed assets | 21/28 | €568,639 | €519,491 | -€49,148 | -8.6% |
| Tangible fixed assets | 22/27 | €568,639 | €519,491 | -€49,148 | -8.6% |
| Land and buildings | 22 | €467,015 | €442,855 | -€24,160 | -5.2% |
| Furniture and vehicles | 24 | €7,062 | €7,570 | +€509 | +7.2% |
| Other tangible fixed assets | 26 | €94,562 | €69,066 | -€25,496 | -27.0% |
| Current assets | 29/58 | €1,865,872 | €2,150,608 | +€284,736 | +15.3% |
| Amounts receivable after more than one year | 29 | €960,000 | €770,000 | -€190,000 | -19.8% |
| Other amounts receivable | 291 | €960,000 | €770,000 | -€190,000 | -19.8% |
| Amounts receivable within one year | 40/41 | €860,086 | €1,299,491 | +€439,405 | +51.1% |
| Trade receivables | 40 | €534,425 | €575,896 | +€41,471 | +7.8% |
| Other amounts receivable | 41 | €325,661 | €723,594 | +€397,934 | +122.2% |
| Cash at bank and in hand | 54/58 | €9 | €265 | +€256 | +2905.8% |
| Deferred charges and accrued income | 490/1 | €45,777 | €80,852 | +€35,074 | +76.6% |
| Total equity and liabilities | 10/49 | €2,434,511 | €2,670,099 | +€235,588 | +9.7% |
| Equity | 10/15 | €1,457,018 | €1,539,657 | +€82,638 | +5.7% |
| Contributions | 10/11 | €192,400 | €192,400 | = | 0.0% |
| Reserves | 13 | €1,263,924 | €1,346,562 | +€82,638 | +6.5% |
| Non-distributable reserves | 130/1 | €514,926 | €597,443 | +€82,517 | +16.0% |
| Reserves not available under the articles | 1311 | €514,926 | €19,493 | -€495,433 | -96.2% |
| Other | 1319 | - | €577,951 | +€577,951 | |
| Tax-exempt reserves | 132 | €732 | €853 | +€121 | +16.5% |
| Distributable reserves | 133 | €748,266 | €748,266 | = | 0.0% |
| Profit (loss) carried forward | 14 | €694 | €694 | = | 0.0% |
| Amounts payable | 17/49 | €977,493 | €1,130,442 | +€152,950 | +15.6% |
| Amounts payable after more than one year | 17 | €22,252 | - | -€22,252 | |
| Financial debts | 170/4 | €22,252 | - | -€22,252 | |
| Amounts payable within one year | 42/48 | €954,810 | €1,130,343 | +€175,533 | +18.4% |
| Current portion of amounts payable after more than one year | 42 | €53,235 | €24,428 | -€28,807 | -54.1% |
| Financial debts | 43 | €6,502 | - | -€6,502 | |
| Credit institutions | 430/8 | €6,502 | - | -€6,502 | |
| Trade debts | 44 | €584,555 | €631,745 | +€47,189 | +8.1% |
| Suppliers | 440/4 | €584,555 | €631,745 | +€47,189 | +8.1% |
| Taxes, remuneration and social security | 45 | €310,517 | €474,170 | +€163,653 | +52.7% |
| Taxes | 450/3 | €308,517 | €472,170 | +€163,653 | +53.0% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €430 | €99 | -€331 | -77.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,346 | €55,136 | -€4,210 | -7.1% |
| Other operating charges | 640/8 | €4,430 | €3,513 | -€917 | -20.7% |
| Non-recurring operating charges | 66A | €8,665 | €6,282 | -€2,383 | -27.5% |
| Gross operating margin | 9900 | €351,794 | €190,026 | -€161,768 | -46.0% |
| Operating profit (loss) | 9901 | €279,353 | €125,095 | -€154,257 | -55.2% |
| Financial income | 75/76B | €41,878 | €77,267 | +€35,389 | +84.5% |
| Recurring financial income | 75 | €41,878 | €77,267 | +€35,389 | +84.5% |
| Financial charges | 65/66B | €11,451 | €5,886 | -€5,565 | -48.6% |
| Recurring financial charges | 65 | €11,451 | €5,886 | -€5,565 | -48.6% |
| Profit (loss) for the period before taxes | 9903 | €309,779 | €196,476 | -€113,303 | -36.6% |
| Income taxes | 67/77 | €157,681 | €113,838 | -€43,843 | -27.8% |
| Profit (loss) for the period | 9904 | €152,098 | €82,638 | -€69,460 | -45.7% |
| Transfer to tax-exempt reserves | 689 | €31 | €121 | +€90 | +291.3% |
| Profit (loss) for the period to be appropriated | 9905 | €152,068 | €82,517 | -€69,550 | -45.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2019 and 30 June 2020. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.