THOMAS & LUKAS: 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.
THOMAS & LUKAS
Largest movements
- Cash -€29,984
down €29,984 (-87.1%), from €34,424 to €4,440
mainly Net result for the year (-€21,463) and Receivables within one year (-€12,946)
- Tangible fixed assets -€27,931
down €27,931 (-18.7%), from €149,184 to €121,253
of which Furniture and vehicles: -€24,742
- Receivables within one year +€12,946
up €12,946 (+3354.0%), from €386 to €13,332
of which Other amounts receivable: +€11,112
- Profit (loss) carried forward -€21,463
down €21,463, from €19,232 to -€2,231
- Debts after one year -€12,259
down €12,259 (-77.9%), from €15,735 to €3,476
- Other debts -€9,087
no longer reported in 2025 (was €9,087)
- Trade debts -€4,469
down €4,469 (-28.6%), from €15,644 to €11,174
- Tax, wage and social debts +€2,123
up €2,123 (+11.6%), from €18,297 to €20,420
of which Remuneration and social security: +€4,400
- Staff costs +€48,342
up €48,342 (+54.0%), from €89,536 to €137,878
- Gross operating margin +€14,044
up €14,044 (+10.2%), from €138,164 to €152,209
- Taxes -€6,520
down €6,520 (-92.6%), from €7,044 to €524
- Depreciation -€5,714
down €5,714 (-15.6%), from €36,621 to €30,907
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 | €189,355 | €143,311 | -€46,044 | -24.3% |
| Fixed assets | 21/28 | €150,184 | €122,253 | -€27,931 | -18.6% |
| Tangible fixed assets | 22/27 | €149,184 | €121,253 | -€27,931 | -18.7% |
| Land and buildings | 22 | €20,769 | €20,823 | +€54 | +0.3% |
| Plant, machinery and equipment | 23 | €8,537 | €7,699 | -€838 | -9.8% |
| Furniture and vehicles | 24 | €62,348 | €37,606 | -€24,742 | -39.7% |
| Other tangible fixed assets | 26 | €57,530 | €55,124 | -€2,405 | -4.2% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €39,171 | €21,057 | -€18,114 | -46.2% |
| Amounts receivable within one year | 40/41 | €386 | €13,332 | +€12,946 | +3354.0% |
| Trade receivables | 40 | - | €1,834 | +€1,834 | |
| Other amounts receivable | 41 | €386 | €11,498 | +€11,112 | +2878.9% |
| Cash at bank and in hand | 54/58 | €34,424 | €4,440 | -€29,984 | -87.1% |
| Deferred charges and accrued income | 490/1 | €4,361 | €3,286 | -€1,075 | -24.7% |
| Total equity and liabilities | 10/49 | €189,355 | €143,311 | -€46,044 | -24.3% |
| Equity | 10/15 | €117,445 | €95,982 | -€21,463 | -18.3% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €79,213 | €79,213 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,735 | €2,735 | = | 0.0% |
| Distributable reserves | 133 | €76,478 | €76,478 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,232 | -€2,231 | -€21,463 | |
| Amounts payable | 17/49 | €71,910 | €47,329 | -€24,581 | -34.2% |
| Amounts payable after more than one year | 17 | €15,735 | €3,476 | -€12,259 | -77.9% |
| Financial debts | 170/4 | €15,735 | €3,476 | -€12,259 | -77.9% |
| Amounts payable within one year | 42/48 | €56,175 | €43,853 | -€12,322 | -21.9% |
| Current portion of amounts payable after more than one year | 42 | €13,148 | €12,259 | -€889 | -6.8% |
| Trade debts | 44 | €15,644 | €11,174 | -€4,469 | -28.6% |
| Suppliers | 440/4 | €15,644 | €11,174 | -€4,469 | -28.6% |
| Taxes, remuneration and social security | 45 | €18,297 | €20,420 | +€2,123 | +11.6% |
| Taxes | 450/3 | €5,125 | €2,849 | -€2,276 | -44.4% |
| Remuneration and social security | 454/9 | €13,172 | €17,571 | +€4,400 | +33.4% |
| Other amounts payable | 47/48 | €9,087 | - | -€9,087 | |
| Remuneration, social security and pensions | 62 | €89,536 | €137,878 | +€48,342 | +54.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,621 | €30,907 | -€5,714 | -15.6% |
| Other operating charges | 640/8 | €1,509 | €1,537 | +€29 | +1.9% |
| Non-recurring operating charges | 66A | €250 | - | -€250 | |
| Gross operating margin | 9900 | €138,164 | €152,209 | +€14,044 | +10.2% |
| Operating profit (loss) | 9901 | €10,249 | -€18,114 | -€28,363 | |
| Financial income | 75/76B | €144 | €225 | +€80 | +55.6% |
| Recurring financial income | 75 | €144 | €225 | +€80 | +55.6% |
| Financial charges | 65/66B | €2,233 | €3,050 | +€817 | +36.6% |
| Recurring financial charges | 65 | €2,233 | €3,050 | +€817 | +36.6% |
| Profit (loss) for the period before taxes | 9903 | €8,161 | -€20,940 | -€29,100 | |
| Income taxes | 67/77 | €7,044 | €524 | -€6,520 | -92.6% |
| Profit (loss) for the period | 9904 | €1,117 | -€21,463 | -€22,580 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,117 | -€21,463 | -€22,580 |
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 7 October 2026 via checked.be.