The Luxe: 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.
The Luxe
Largest movements
- Tangible fixed assets +€1.7m
up €1.7m (+61.3%), from €2.7m to €4.4m
of which Land and buildings: +€1.7m
- Cash -€165,263
down €165,263 (-50.7%), from €326,076 to €160,813
mainly Investment in fixed assets (net) (-€2.0m) and Receivables within one year (-€42,857)
- Stocks and contracts -€48,926
down €48,926 (-59.2%), from €82,656 to €33,729
- Debts after one year +€1.0m
up €1.0m (+47.3%), from €2.1m to €3.1m
- Other debts +€380,000
up €380,000 (+71.7%), from €529,866 to €909,866
- Current portion of long-term debt +€47,027
up €47,027 (+35.1%), from €133,959 to €180,986
- Depreciation +€211,394
up €211,394 (+195.3%), from €108,263 to €319,657
- Gross operating margin +€143,796
up €143,796 (+29.3%), from €490,523 to €634,320
- Staff costs +€85,583
up €85,583 (+147.7%), from €57,937 to €143,520
- Taxes -€43,017
down €43,017 (-90.4%), from €47,571 to €4,554
- Other operating charges -€20,781
down €20,781 (-46.3%), from €44,908 to €24,127
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 | €3,159,134 | €4,652,482 | +€1.5m | +47.3% |
| Fixed assets | 21/28 | €2,716,188 | €4,379,984 | +€1.7m | +61.3% |
| Tangible fixed assets | 22/27 | €2,715,988 | €4,379,784 | +€1.7m | +61.3% |
| Land and buildings | 22 | €2,469,072 | €4,136,841 | +€1.7m | +67.5% |
| Plant, machinery and equipment | 23 | €63,716 | €54,277 | -€9,440 | -14.8% |
| Furniture and vehicles | 24 | €10,241 | €5,862 | -€4,379 | -42.8% |
| Other tangible fixed assets | 26 | €172,958 | €182,804 | +€9,846 | +5.7% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €442,946 | €272,498 | -€170,448 | -38.5% |
| Stocks and contracts in progress | 3 | €82,656 | €33,729 | -€48,926 | -59.2% |
| Stocks | 30/36 | €82,656 | €33,729 | -€48,926 | -59.2% |
| Amounts receivable within one year | 40/41 | €28,123 | €70,980 | +€42,857 | +152.4% |
| Trade receivables | 40 | €28,123 | €5,534 | -€22,589 | -80.3% |
| Other amounts receivable | 41 | - | €65,446 | +€65,446 | |
| Cash at bank and in hand | 54/58 | €326,076 | €160,813 | -€165,263 | -50.7% |
| Deferred charges and accrued income | 490/1 | €6,092 | €6,976 | +€884 | +14.5% |
| Total equity and liabilities | 10/49 | €3,159,134 | €4,652,482 | +€1.5m | +47.3% |
| Equity | 10/15 | €177,434 | €193,225 | +€15,791 | +8.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €171,000 | €186,000 | +€15,000 | +8.8% |
| Distributable reserves | 133 | €171,000 | €186,000 | +€15,000 | +8.8% |
| Profit (loss) carried forward | 14 | €234 | €1,025 | +€791 | +338.3% |
| Amounts payable | 17/49 | €2,981,700 | €4,459,257 | +€1.5m | +49.6% |
| Amounts payable after more than one year | 17 | €2,133,773 | €3,142,617 | +€1.0m | +47.3% |
| Financial debts | 170/4 | €2,133,773 | €3,142,617 | +€1.0m | +47.3% |
| Amounts payable within one year | 42/48 | €847,928 | €1,315,385 | +€467,458 | +55.1% |
| Current portion of amounts payable after more than one year | 42 | €133,959 | €180,986 | +€47,027 | +35.1% |
| Trade debts | 44 | €95,034 | €104,895 | +€9,861 | +10.4% |
| Suppliers | 440/4 | €95,034 | €104,895 | +€9,861 | +10.4% |
| Advances received on contracts in progress | 46 | - | €5,755 | +€5,755 | |
| Taxes, remuneration and social security | 45 | €89,069 | €113,883 | +€24,814 | +27.9% |
| Taxes | 450/3 | €74,251 | €94,928 | +€20,677 | +27.8% |
| Remuneration and social security | 454/9 | €14,818 | €18,955 | +€4,137 | +27.9% |
| Other amounts payable | 47/48 | €529,866 | €909,866 | +€380,000 | +71.7% |
| Accrued charges and deferred income | 492/3 | - | €1,254 | +€1,254 | |
| Non-recurring operating income | 76A | - | €0 | +€0 | |
| Remuneration, social security and pensions | 62 | €57,937 | €143,520 | +€85,583 | +147.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €108,263 | €319,657 | +€211,394 | +195.3% |
| Other operating charges | 640/8 | €44,908 | €24,127 | -€20,781 | -46.3% |
| Gross operating margin | 9900 | €490,523 | €634,320 | +€143,796 | +29.3% |
| Operating profit (loss) | 9901 | €279,415 | €147,015 | -€132,400 | -47.4% |
| Financial income | 75/76B | €41 | €117 | +€76 | +187.0% |
| Recurring financial income | 75 | €41 | €117 | +€76 | +187.0% |
| Financial charges | 65/66B | €111,585 | €126,787 | +€15,202 | +13.6% |
| Recurring financial charges | 65 | €111,585 | €126,787 | +€15,202 | +13.6% |
| Profit (loss) for the period before taxes | 9903 | €167,871 | €20,345 | -€147,526 | -87.9% |
| Income taxes | 67/77 | €47,571 | €4,554 | -€43,017 | -90.4% |
| Profit (loss) for the period | 9904 | €120,300 | €15,791 | -€104,509 | -86.9% |
| Profit (loss) for the period to be appropriated | 9905 | €120,300 | €15,791 | -€104,509 | -86.9% |
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 12 October 2026 via checked.be.