Lukas Degeest: 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.
Lukas Degeest
Largest movements
- Current investments +€67,000
new in 2025: €67,000
- Tangible fixed assets -€15,827
down €15,827 (-4.8%), from €332,306 to €316,478
of which Land and buildings: -€12,723
- Cash +€14,788
up €14,788 (+27.0%), from €54,791 to €69,580
mainly Net result for the year (+€71,282) and Depreciation (+€15,827)
- Deferred charges and accrued income +€7,167
up €7,167 (+65.4%), from €10,961 to €18,129
- Profit (loss) carried forward +€71,282
up €71,282 (+228.7%), from €31,172 to €102,454
- Debts after one year -€12,676
down €12,676 (-4.0%), from €320,842 to €308,166
- Tax, wage and social debts +€11,431
up €11,431 (+93.4%), from €12,233 to €23,664
of which Taxes: +€11,431
- Gross operating margin +€67,119
up €67,119 (+128.8%), from €52,100 to €119,219
- Taxes +€11,350
up €11,350 (+158.7%), from €7,154 to €18,504
- Depreciation +€5,857
up €5,857 (+58.7%), from €9,970 to €15,827
- Financial charges +€4,146
up €4,146 (+47.8%), from €8,683 to €12,829
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.
Cash bridge derived
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 | €398,058 | €471,187 | +€73,128 | +18.4% |
| Fixed assets | 21/28 | €332,306 | €316,478 | -€15,827 | -4.8% |
| Tangible fixed assets | 22/27 | €332,306 | €316,478 | -€15,827 | -4.8% |
| Land and buildings | 22 | €310,563 | €297,840 | -€12,723 | -4.1% |
| Furniture and vehicles | 24 | €4,033 | €2,826 | -€1,207 | -29.9% |
| Other tangible fixed assets | 26 | €17,710 | €15,813 | -€1,898 | -10.7% |
| Current assets | 29/58 | €65,753 | €154,708 | +€88,956 | +135.3% |
| Current investments | 50/53 | - | €67,000 | +€67,000 | |
| Cash at bank and in hand | 54/58 | €54,791 | €69,580 | +€14,788 | +27.0% |
| Deferred charges and accrued income | 490/1 | €10,961 | €18,129 | +€7,167 | +65.4% |
| Total equity and liabilities | 10/49 | €398,058 | €471,187 | +€73,128 | +18.4% |
| Equity | 10/15 | €34,172 | €105,454 | +€71,282 | +208.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,172 | €102,454 | +€71,282 | +228.7% |
| Amounts payable | 17/49 | €363,886 | €365,733 | +€1,847 | +0.5% |
| Amounts payable after more than one year | 17 | €320,842 | €308,166 | -€12,676 | -4.0% |
| Financial debts | 170/4 | €320,842 | €308,166 | -€12,676 | -4.0% |
| Amounts payable within one year | 42/48 | €43,045 | €57,567 | +€14,522 | +33.7% |
| Current portion of amounts payable after more than one year | 42 | €12,244 | €12,676 | +€431 | +3.5% |
| Trade debts | 44 | €136 | €72 | -€64 | -47.0% |
| Suppliers | 440/4 | €136 | €72 | -€64 | -47.0% |
| Taxes, remuneration and social security | 45 | €12,233 | €23,664 | +€11,431 | +93.4% |
| Taxes | 450/3 | €10,233 | €21,664 | +€11,431 | +111.7% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €18,431 | €21,155 | +€2,724 | +14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,970 | €15,827 | +€5,857 | +58.7% |
| Other operating charges | 640/8 | €253 | €777 | +€524 | +206.8% |
| Gross operating margin | 9900 | €52,100 | €119,219 | +€67,119 | +128.8% |
| Operating profit (loss) | 9901 | €41,876 | €102,614 | +€60,739 | +145.0% |
| Financial income | 75/76B | €0 | €1 | +€1 | +5900.0% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +5900.0% |
| Financial charges | 65/66B | €8,683 | €12,829 | +€4,146 | +47.8% |
| Recurring financial charges | 65 | €8,683 | €12,829 | +€4,146 | +47.8% |
| Profit (loss) for the period before taxes | 9903 | €33,193 | €89,786 | +€56,593 | +170.5% |
| Income taxes | 67/77 | €7,154 | €18,504 | +€11,350 | +158.7% |
| Profit (loss) for the period | 9904 | €26,039 | €71,282 | +€45,243 | +173.8% |
| Profit (loss) for the period to be appropriated | 9905 | €26,039 | €71,282 | +€45,243 | +173.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.