LUTSBOUW: 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.
LUTSBOUW
Largest movements
- Receivables within one year +€44,805
up €44,805 (+56.4%), from €79,406 to €124,210
of which Trade receivables: +€44,197
- Tangible fixed assets -€32,509
down €32,509 (-33.9%), from €95,952 to €63,443
of which Plant, machinery and equipment: -€23,552
- Cash +€9,604
up €9,604 (+8.3%), from €115,251 to €124,855
mainly Advances received (+€47,068) and Depreciation (+€35,749)
- Deferred charges and accrued income -€3,353
down €3,353 (-64.7%), from €5,183 to €1,830
- Intangible fixed assets +€3,209
new in 2025: €3,209
- Advances received +€47,068
up €47,068, from €0 to €47,068
- Trade debts -€16,170
down €16,170 (-81.0%), from €19,975 to €3,805
- Tax, wage and social debts -€12,133
down €12,133 (-70.5%), from €17,203 to €5,070
- Reserves +€7,186
up €7,186 (+3.1%), from €229,065 to €236,250
- Other debts -€4,195
down €4,195 (-22.4%), from €18,745 to €14,550
- Gross operating margin -€58,277
down €58,277 (-57.2%), from €101,898 to €43,622
- Taxes -€13,381
down €13,381 (-81.0%), from €16,526 to €3,144
- Depreciation -€5,157
down €5,157 (-12.6%), from €40,906 to €35,749
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 | €295,791 | €317,547 | +€21,756 | +7.4% |
| Fixed assets | 21/28 | €95,952 | €66,652 | -€29,299 | -30.5% |
| Intangible fixed assets | 21 | - | €3,209 | +€3,209 | |
| Tangible fixed assets | 22/27 | €95,952 | €63,443 | -€32,509 | -33.9% |
| Land and buildings | 22 | €0 | €1,780 | +€1,780 | |
| Plant, machinery and equipment | 23 | €62,032 | €38,480 | -€23,552 | -38.0% |
| Furniture and vehicles | 24 | €33,920 | €23,183 | -€10,737 | -31.7% |
| Current assets | 29/58 | €199,840 | €250,895 | +€51,055 | +25.5% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €79,406 | €124,210 | +€44,805 | +56.4% |
| Trade receivables | 40 | €8,139 | €52,336 | +€44,197 | +543.0% |
| Other amounts receivable | 41 | €71,267 | €71,875 | +€608 | +0.9% |
| Cash at bank and in hand | 54/58 | €115,251 | €124,855 | +€9,604 | +8.3% |
| Deferred charges and accrued income | 490/1 | €5,183 | €1,830 | -€3,353 | -64.7% |
| Total equity and liabilities | 10/49 | €295,791 | €317,547 | +€21,756 | +7.4% |
| Equity | 10/15 | €239,869 | €247,055 | +€7,186 | +3.0% |
| Contributions | 10/11 | €10,804 | €10,804 | = | 0.0% |
| Reserves | 13 | €229,065 | €236,250 | +€7,186 | +3.1% |
| Distributable reserves | 133 | €229,065 | €236,250 | +€7,186 | +3.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €55,922 | €70,493 | +€14,570 | +26.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €55,922 | €70,493 | +€14,570 | +26.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €19,975 | €3,805 | -€16,170 | -81.0% |
| Suppliers | 440/4 | €19,975 | €3,805 | -€16,170 | -81.0% |
| Advances received on contracts in progress | 46 | €0 | €47,068 | +€47,068 | |
| Taxes, remuneration and social security | 45 | €17,203 | €5,070 | -€12,133 | -70.5% |
| Taxes | 450/3 | €17,203 | €5,070 | -€12,133 | -70.5% |
| Other amounts payable | 47/48 | €18,745 | €14,550 | -€4,195 | -22.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €24,248 | +€24,248 | |
| Remuneration, social security and pensions | 62 | €965 | €233 | -€732 | -75.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,906 | €35,749 | -€5,157 | -12.6% |
| Other operating charges | 640/8 | €935 | €822 | -€112 | -12.0% |
| Gross operating margin | 9900 | €101,898 | €43,622 | -€58,277 | -57.2% |
| Operating profit (loss) | 9901 | €59,092 | €6,817 | -€52,275 | -88.5% |
| Financial income | 75/76B | €3,132 | €3,584 | +€451 | +14.4% |
| Recurring financial income | 75 | €3,132 | €3,584 | +€451 | +14.4% |
| Financial charges | 65/66B | €249 | €70 | -€179 | -71.7% |
| Recurring financial charges | 65 | €249 | €70 | -€179 | -71.7% |
| Profit (loss) for the period before taxes | 9903 | €61,976 | €10,330 | -€51,646 | -83.3% |
| Income taxes | 67/77 | €16,526 | €3,144 | -€13,381 | -81.0% |
| Profit (loss) for the period | 9904 | €45,450 | €7,186 | -€38,264 | -84.2% |
| Profit (loss) for the period to be appropriated | 9905 | €45,450 | €7,186 | -€38,264 | -84.2% |
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.