VANBECELAERE LUC: 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.
VANBECELAERE LUC
Largest movements
- Current investments -€56,963
down €56,963 (-55.3%), from €103,048 to €46,085
- Cash -€22,215
down €22,215 (-32.0%), from €69,516 to €47,301
mainly Contributions, distributions and other (-€50,000) and Trade debts (-€22,489)
- Reserves -€67,490
down €67,490 (-35.3%), from €191,256 to €123,766
of which Distributable reserves: -€67,490
- Trade debts -€22,489
down €22,489 (-80.3%), from €27,996 to €5,507
- Other debts +€11,307
up €11,307 (+30.9%), from €36,629 to €47,937
- Financial charges +€34,787
up €34,787 (+2,116%), from €1,644 to €36,431
- Gross operating margin -€15,551
down €15,551 (-25.7%), from €60,401 to €44,851
- Turnover -€14,064
down €14,064 (-5.4%), from €258,544 to €244,480
- Depreciation -€5,345
down €5,345 (-35.0%), from €15,266 to €9,921
- Taxes +€4,899
up €4,899 (+33.8%), from €14,499 to €19,398
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 | €277,081 | €197,209 | -€79,872 | -28.8% |
| Fixed assets | 21/28 | €99,033 | €97,489 | -€1,544 | -1.6% |
| Tangible fixed assets | 22/27 | €99,033 | €97,489 | -€1,544 | -1.6% |
| Land and buildings | 22 | €84,290 | €81,704 | -€2,586 | -3.1% |
| Plant, machinery and equipment | 23 | €7,277 | €4,682 | -€2,596 | -35.7% |
| Furniture and vehicles | 24 | €7,466 | €11,103 | +€3,637 | +48.7% |
| Current assets | 29/58 | €178,048 | €99,720 | -€78,328 | -44.0% |
| Amounts receivable within one year | 40/41 | €4,239 | €6,335 | +€2,096 | +49.5% |
| Trade receivables | 40 | €3,412 | €5,509 | +€2,096 | +61.4% |
| Other amounts receivable | 41 | €826 | €826 | = | 0.0% |
| Current investments | 50/53 | €103,048 | €46,085 | -€56,963 | -55.3% |
| Cash at bank and in hand | 54/58 | €69,516 | €47,301 | -€22,215 | -32.0% |
| Deferred charges and accrued income | 490/1 | €1,246 | - | -€1,246 | |
| Total equity and liabilities | 10/49 | €277,081 | €197,209 | -€79,872 | -28.8% |
| Equity | 10/15 | €211,256 | €143,766 | -€67,490 | -31.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €191,256 | €123,766 | -€67,490 | -35.3% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €189,256 | €121,766 | -€67,490 | -35.7% |
| Amounts payable | 17/49 | €65,825 | €53,444 | -€12,382 | -18.8% |
| Amounts payable within one year | 42/48 | €65,825 | €53,444 | -€12,382 | -18.8% |
| Trade debts | 44 | €27,996 | €5,507 | -€22,489 | -80.3% |
| Suppliers | 440/4 | €27,996 | €5,507 | -€22,489 | -80.3% |
| Taxes, remuneration and social security | 45 | €1,200 | - | -€1,200 | |
| Taxes | 450/3 | €1,200 | - | -€1,200 | |
| Other amounts payable | 47/48 | €36,629 | €47,937 | +€11,307 | +30.9% |
| Turnover | 70 | €258,544 | €244,480 | -€14,064 | -5.4% |
| Non-recurring operating income | 76A | - | €2,488 | +€2,488 | |
| Goods, raw materials, services and sundry goods | 60/61 | €198,143 | €202,117 | +€3,974 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,266 | €9,921 | -€5,345 | -35.0% |
| Other operating charges | 640/8 | €2,488 | €2,087 | -€401 | -16.1% |
| Non-recurring operating charges | 66A | - | €6,232 | +€6,232 | |
| Gross operating margin | 9900 | €60,401 | €44,851 | -€15,551 | -25.7% |
| Operating profit (loss) | 9901 | €42,648 | €26,611 | -€16,037 | -37.6% |
| Financial income | 75/76B | €13,057 | €11,727 | -€1,329 | -10.2% |
| Recurring financial income | 75 | €4,493 | €3,280 | -€1,213 | -27.0% |
| Non-recurring financial income | 76B | €8,563 | €8,447 | -€116 | -1.4% |
| Financial charges | 65/66B | €1,644 | €36,431 | +€34,787 | +2,116% |
| Recurring financial charges | 65 | €1,644 | €36,431 | +€34,787 | +2,116% |
| Profit (loss) for the period before taxes | 9903 | €54,060 | €1,907 | -€52,153 | -96.5% |
| Income taxes | 67/77 | €14,499 | €19,398 | +€4,899 | +33.8% |
| Profit (loss) for the period | 9904 | €39,561 | -€17,490 | -€57,051 | |
| Profit (loss) for the period to be appropriated | 9905 | €39,561 | -€17,490 | -€57,051 |
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.