LUKED: 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.
LUKED
Largest movements
- Cash +€105,312
up €105,312 (+75.8%), from €138,970 to €244,282
mainly Current investments (+€80,000) and Net result for the year (+€52,083)
- Current investments -€80,000
no longer reported in 2025 (was €80,000)
- Reserves +€52,083
up €52,083 (+10.6%), from €492,642 to €544,726
of which Distributable reserves: +€52,083
- Debts after one year -€38,171
down €38,171 (-7.3%), from €520,791 to €482,620
- Gross operating margin -€49,225
down €49,225 (-10.0%), from €492,166 to €442,941
- Staff costs -€14,668
down €14,668 (-5.0%), from €294,469 to €279,800
- Taxes -€4,959
down €4,959 (-14.6%), from €34,006 to €29,047
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 | €1,362,880 | €1,379,016 | +€16,136 | +1.2% |
| Fixed assets | 21/28 | €652,903 | €646,320 | -€6,584 | -1.0% |
| Intangible fixed assets | 21 | €11,657 | €7,660 | -€3,997 | -34.3% |
| Tangible fixed assets | 22/27 | €641,246 | €638,659 | -€2,587 | -0.4% |
| Land and buildings | 22 | €577,027 | €558,347 | -€18,680 | -3.2% |
| Plant, machinery and equipment | 23 | €25,359 | €24,202 | -€1,158 | -4.6% |
| Furniture and vehicles | 24 | €38,860 | €56,111 | +€17,251 | +44.4% |
| Current assets | 29/58 | €709,977 | €732,697 | +€22,720 | +3.2% |
| Stocks and contracts in progress | 3 | €311,666 | €302,466 | -€9,200 | -3.0% |
| Stocks | 30/36 | €311,666 | €302,466 | -€9,200 | -3.0% |
| Amounts receivable within one year | 40/41 | €178,762 | €179,033 | +€271 | +0.2% |
| Trade receivables | 40 | €157,110 | €156,761 | -€349 | -0.2% |
| Other amounts receivable | 41 | €21,652 | €22,272 | +€620 | +2.9% |
| Current investments | 50/53 | €80,000 | - | -€80,000 | |
| Cash at bank and in hand | 54/58 | €138,970 | €244,282 | +€105,312 | +75.8% |
| Deferred charges and accrued income | 490/1 | €579 | €6,917 | +€6,337 | +1093.9% |
| Total equity and liabilities | 10/49 | €1,362,880 | €1,379,016 | +€16,136 | +1.2% |
| Equity | 10/15 | €532,644 | €584,727 | +€52,083 | +9.8% |
| Contributions | 10/11 | €40,001 | €40,001 | = | 0.0% |
| Reserves | 13 | €492,642 | €544,726 | +€52,083 | +10.6% |
| Tax-exempt reserves | 132 | €83,888 | €83,888 | = | 0.0% |
| Distributable reserves | 133 | €408,755 | €460,838 | +€52,083 | +12.7% |
| Amounts payable | 17/49 | €830,237 | €794,290 | -€35,947 | -4.3% |
| Amounts payable after more than one year | 17 | €520,791 | €482,620 | -€38,171 | -7.3% |
| Financial debts | 170/4 | €520,791 | €482,620 | -€38,171 | -7.3% |
| Amounts payable within one year | 42/48 | €309,445 | €311,670 | +€2,224 | +0.7% |
| Current portion of amounts payable after more than one year | 42 | €36,650 | €38,171 | +€1,521 | +4.2% |
| Trade debts | 44 | €152,509 | €152,135 | -€374 | -0.2% |
| Suppliers | 440/4 | €152,509 | €152,135 | -€374 | -0.2% |
| Taxes, remuneration and social security | 45 | €27,134 | €28,211 | +€1,077 | +4.0% |
| Taxes | 450/3 | €421 | €522 | +€102 | +24.1% |
| Remuneration and social security | 454/9 | €26,713 | €27,688 | +€976 | +3.7% |
| Other amounts payable | 47/48 | €93,152 | €93,152 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €294,469 | €279,800 | -€14,668 | -5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,547 | €41,435 | +€887 | +2.2% |
| Other operating charges | 640/8 | €17,074 | €14,776 | -€2,298 | -13.5% |
| Non-recurring operating charges | 66A | €17,491 | - | -€17,491 | |
| Gross operating margin | 9900 | €492,166 | €442,941 | -€49,225 | -10.0% |
| Operating profit (loss) | 9901 | €122,586 | €106,931 | -€15,655 | -12.8% |
| Financial income | 75/76B | €2,036 | €1,035 | -€1,002 | -49.2% |
| Recurring financial income | 75 | €2,036 | €1,035 | -€1,002 | -49.2% |
| Financial charges | 65/66B | €27,386 | €26,835 | -€551 | -2.0% |
| Recurring financial charges | 65 | €27,386 | €26,835 | -€551 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | €97,236 | €81,130 | -€16,106 | -16.6% |
| Income taxes | 67/77 | €34,006 | €29,047 | -€4,959 | -14.6% |
| Profit (loss) for the period | 9904 | €63,230 | €52,083 | -€11,147 | -17.6% |
| Profit (loss) for the period to be appropriated | 9905 | €63,230 | €52,083 | -€11,147 | -17.6% |
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 4 October 2026 via checked.be.