LUSTEEN: 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.
LUSTEEN
Largest movements
- Cash +€59,742
new in 2025: €59,742
mainly Trade debts (+€53,068) and Stocks and contracts (+€44,920)
- Stocks and contracts -€44,920
down €44,920 (-14.7%), from €306,600 to €261,680
- Receivables within one year +€28,321
up €28,321 (+383.5%), from €7,385 to €35,706
of which Trade receivables: +€31,056
- Tangible fixed assets +€5,636
up €5,636 (+3632.5%), from €155 to €5,791
- Trade debts +€53,068
up €53,068 (+52.4%), from €101,190 to €154,258
- Short-term financial debts -€12,322
down €12,322 (-19.8%), from €62,322 to €50,000
- Profit (loss) carried forward +€9,296
up €9,296 (+12.3%), from €75,344 to €84,639
- Financial charges -€4,859
down €4,859 (-84.5%), from €5,748 to €890
- Gross operating margin -€1,144
down €1,144 (-7.4%), from €15,516 to €14,372
- Taxes +€802
up €802 (+32.7%), from €2,450 to €3,252
- Depreciation +€231
up €231 (+169.9%), from €136 to €367
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 | €314,172 | €364,228 | +€50,056 | +15.9% |
| Fixed assets | 21/28 | €155 | €5,791 | +€5,636 | +3632.5% |
| Tangible fixed assets | 22/27 | €155 | €5,791 | +€5,636 | +3632.5% |
| Furniture and vehicles | 24 | €155 | €5,791 | +€5,636 | +3632.5% |
| Current assets | 29/58 | €314,017 | €358,437 | +€44,420 | +14.1% |
| Stocks and contracts in progress | 3 | €306,600 | €261,680 | -€44,920 | -14.7% |
| Stocks | 30/36 | €306,600 | €261,680 | -€44,920 | -14.7% |
| Amounts receivable within one year | 40/41 | €7,385 | €35,706 | +€28,321 | +383.5% |
| Trade receivables | 40 | €4,556 | €35,612 | +€31,056 | +681.7% |
| Other amounts receivable | 41 | €2,829 | €94 | -€2,735 | -96.7% |
| Cash at bank and in hand | 54/58 | - | €59,742 | +€59,742 | |
| Deferred charges and accrued income | 490/1 | €32 | €1,309 | +€1,277 | +4036.1% |
| Total equity and liabilities | 10/49 | €314,172 | €364,228 | +€50,056 | +15.9% |
| Equity | 10/15 | €143,044 | €152,339 | +€9,296 | +6.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €75,344 | €84,639 | +€9,296 | +12.3% |
| Amounts payable | 17/49 | €171,128 | €211,889 | +€40,761 | +23.8% |
| Amounts payable within one year | 42/48 | €170,925 | €211,889 | +€40,964 | +24.0% |
| Financial debts | 43 | €62,322 | €50,000 | -€12,322 | -19.8% |
| Credit institutions | 430/8 | €62,322 | €50,000 | -€12,322 | -19.8% |
| Trade debts | 44 | €101,190 | €154,258 | +€53,068 | +52.4% |
| Suppliers | 440/4 | €101,190 | €154,258 | +€53,068 | +52.4% |
| Advances received on contracts in progress | 46 | €1,060 | - | -€1,060 | |
| Taxes, remuneration and social security | 45 | €6,353 | €7,589 | +€1,236 | +19.5% |
| Taxes | 450/3 | €6,353 | €7,589 | +€1,236 | +19.5% |
| Other amounts payable | 47/48 | - | €42 | +€42 | |
| Accrued charges and deferred income | 492/3 | €204 | - | -€204 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €136 | €367 | +€231 | +169.9% |
| Other operating charges | 640/8 | €451 | €571 | +€121 | +26.7% |
| Gross operating margin | 9900 | €15,516 | €14,372 | -€1,144 | -7.4% |
| Operating profit (loss) | 9901 | €14,930 | €13,434 | -€1,496 | -10.0% |
| Financial income | 75/76B | €0 | €4 | +€4 | +1272.4% |
| Recurring financial income | 75 | €0 | €4 | +€4 | +1272.4% |
| Financial charges | 65/66B | €5,748 | €890 | -€4,859 | -84.5% |
| Recurring financial charges | 65 | €5,748 | €890 | -€4,859 | -84.5% |
| Profit (loss) for the period before taxes | 9903 | €9,181 | €12,548 | +€3,366 | +36.7% |
| Income taxes | 67/77 | €2,450 | €3,252 | +€802 | +32.7% |
| Profit (loss) for the period | 9904 | €6,731 | €9,296 | +€2,565 | +38.1% |
| Profit (loss) for the period to be appropriated | 9905 | €6,731 | €9,296 | +€2,565 | +38.1% |
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 6 October 2026 via checked.be.