LUKAS VERSTEELE: 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.
LUKAS VERSTEELE
Largest movements
- Cash +€28,799
up €28,799 (+112%), from €25,699 to €54,498
mainly Net result for the year (+€27,308) and Other debts (+€26,731)
- Receivables after one year -€6,650
down €6,650 (-100%), from €6,650 to €0
- Tangible fixed assets -€5,902
down €5,902 (-28.1%), from €21,025 to €15,123
- Other debts +€26,731
up €26,731 (+23,601%), from €113 to €26,844
- Reserves -€11,190
down €11,190 (-29.1%), from €38,498 to €27,308
- Gross operating margin +€44,901
up €44,901, from -€311 to €44,590
- Taxes +€8,592
up €8,592 (+6,713%), from €128 to €8,720
- Depreciation +€2,899
up €2,899 (+64.6%), from €4,489 to €7,388
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 | €53,480 | €69,621 | +€16,141 | +30.2% |
| Fixed assets | 21/28 | €21,025 | €15,123 | -€5,902 | -28.1% |
| Tangible fixed assets | 22/27 | €21,025 | €15,123 | -€5,902 | -28.1% |
| Furniture and vehicles | 24 | €21,025 | €15,123 | -€5,902 | -28.1% |
| Current assets | 29/58 | €32,455 | €54,498 | +€22,042 | +67.9% |
| Amounts receivable after more than one year | 29 | €6,650 | €0 | -€6,650 | -100% |
| Other amounts receivable | 291 | €6,650 | €0 | -€6,650 | -100% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €25,699 | €54,498 | +€28,799 | +112% |
| Deferred charges and accrued income | 490/1 | €106 | €0 | -€106 | -100% |
| Total equity and liabilities | 10/49 | €53,480 | €69,621 | +€16,141 | +30.2% |
| Equity | 10/15 | €43,498 | €32,308 | -€11,190 | -25.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €38,498 | €27,308 | -€11,190 | -29.1% |
| Distributable reserves | 133 | €38,498 | €27,308 | -€11,190 | -29.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €9,982 | €37,313 | +€27,331 | +274% |
| Amounts payable within one year | 42/48 | €9,982 | €37,313 | +€27,331 | +274% |
| Trade debts | 44 | €393 | €463 | +€70 | +17.8% |
| Suppliers | 440/4 | €393 | €463 | +€70 | +17.8% |
| Taxes, remuneration and social security | 45 | €9,476 | €10,006 | +€530 | +5.6% |
| Taxes | 450/3 | €6,476 | €8,506 | +€2,030 | +31.3% |
| Remuneration and social security | 454/9 | €3,000 | €1,500 | -€1,500 | -50.0% |
| Other amounts payable | 47/48 | €113 | €26,844 | +€26,731 | +23,601% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,489 | €7,388 | +€2,899 | +64.6% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | -€311 | €44,590 | +€44,901 | |
| Operating profit (loss) | 9901 | -€5,306 | €36,682 | +€41,988 | |
| Financial income | 75/76B | €426 | €185 | -€240 | -56.5% |
| Recurring financial income | 75 | €426 | €185 | -€240 | -56.5% |
| Financial charges | 65/66B | €947 | €838 | -€109 | -11.5% |
| Recurring financial charges | 65 | €947 | €838 | -€109 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | -€5,827 | €36,029 | +€41,856 | |
| Income taxes | 67/77 | €128 | €8,720 | +€8,592 | +6,713% |
| Profit (loss) for the period | 9904 | -€5,955 | €27,308 | +€33,263 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,955 | €27,308 | +€33,263 |
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 16 October 2026 via checked.be.