LUST & FILS: 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.
« LUST & FILS »
Largest movements
- Tangible fixed assets +€322,543
up €322,543 (+96.5%), from €334,223 to €656,765
- Receivables within one year +€69,603
up €69,603 (+44.5%), from €156,317 to €225,920
of which Trade receivables: +€63,113
- Cash +€40,155
up €40,155 (+56.2%), from €71,408 to €111,564
mainly Debts after one year (+€343,214) and Depreciation (+€160,457)
- Debts after one year +€343,214
up €343,214 (+107%), from €319,643 to €662,857
- Current portion of long-term debt +€67,857
up €67,857 (+106%), from €63,929 to €131,786
- Investment grants +€14,159
new in 2025: €14,159
- Reserves +€12,000
up €12,000 (+80.0%), from €15,000 to €27,000
- Turnover -€189,042
down €189,042 (-33.8%), from €559,301 to €370,260
- Gross operating margin -€97,082
down €97,082 (-35.5%), from €273,852 to €176,770
- Purchases and services -€91,960
down €91,960 (-32.2%), from €285,449 to €193,489
- Depreciation +€35,180
up €35,180 (+28.1%), from €125,277 to €160,457
- Taxes -€18,000
no longer reported in 2025 (was €18,000)
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 | €563,678 | €996,886 | +€433,208 | +76.9% |
| Fixed assets | 21/28 | €334,223 | €656,765 | +€322,543 | +96.5% |
| Tangible fixed assets | 22/27 | €334,223 | €656,765 | +€322,543 | +96.5% |
| Plant, machinery and equipment | 23 | €334,223 | €656,765 | +€322,543 | +96.5% |
| Current assets | 29/58 | €229,456 | €340,120 | +€110,665 | +48.2% |
| Amounts receivable within one year | 40/41 | €156,317 | €225,920 | +€69,603 | +44.5% |
| Trade receivables | 40 | €149,589 | €212,702 | +€63,113 | +42.2% |
| Other amounts receivable | 41 | €6,728 | €13,217 | +€6,489 | +96.5% |
| Cash at bank and in hand | 54/58 | €71,408 | €111,564 | +€40,155 | +56.2% |
| Deferred charges and accrued income | 490/1 | €1,730 | €2,637 | +€907 | +52.4% |
| Total equity and liabilities | 10/49 | €563,678 | €996,886 | +€433,208 | +76.9% |
| Equity | 10/15 | €128,785 | €155,783 | +€26,998 | +21.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €15,000 | €27,000 | +€12,000 | +80.0% |
| Distributable reserves | 133 | €15,000 | €27,000 | +€12,000 | +80.0% |
| Profit (loss) carried forward | 14 | €93,785 | €94,625 | +€839 | +0.9% |
| Investment grants | 15 | - | €14,159 | +€14,159 | |
| Amounts payable | 17/49 | €434,893 | €841,103 | +€406,210 | +93.4% |
| Amounts payable after more than one year | 17 | €319,643 | €662,857 | +€343,214 | +107% |
| Financial debts | 170/4 | €319,643 | €662,857 | +€343,214 | +107% |
| Amounts payable within one year | 42/48 | €115,250 | €178,245 | +€62,995 | +54.7% |
| Current portion of amounts payable after more than one year | 42 | €63,929 | €131,786 | +€67,857 | +106% |
| Trade debts | 44 | €30,321 | €25,460 | -€4,862 | -16.0% |
| Suppliers | 440/4 | €30,321 | €25,460 | -€4,862 | -16.0% |
| Taxes, remuneration and social security | 45 | €21,000 | €21,000 | = | 0.0% |
| Taxes | 450/3 | €21,000 | €21,000 | = | 0.0% |
| Turnover | 70 | €559,301 | €370,260 | -€189,042 | -33.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €285,449 | €193,489 | -€91,960 | -32.2% |
| Remuneration, social security and pensions | 62 | €4,043 | €745 | -€3,298 | -81.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €125,277 | €160,457 | +€35,180 | +28.1% |
| Other operating charges | 640/8 | €1,047 | €543 | -€504 | -48.2% |
| Gross operating margin | 9900 | €273,852 | €176,770 | -€97,082 | -35.5% |
| Operating profit (loss) | 9901 | €143,485 | €15,025 | -€128,460 | -89.5% |
| Financial income | 75/76B | €1,136 | €13,752 | +€12,616 | +1,111% |
| Recurring financial income | 75 | €1,136 | €13,752 | +€12,616 | +1,111% |
| Financial charges | 65/66B | €17,836 | €15,938 | -€1,898 | -10.6% |
| Recurring financial charges | 65 | €17,836 | €15,938 | -€1,898 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €126,785 | €12,839 | -€113,946 | -89.9% |
| Income taxes | 67/77 | €18,000 | - | -€18,000 | |
| Profit (loss) for the period | 9904 | €108,785 | €12,839 | -€95,946 | -88.2% |
| Profit (loss) for the period to be appropriated | 9905 | €108,785 | €12,839 | -€95,946 | -88.2% |
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 25 October 2026 via checked.be.