Luc Scheiff: 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.
Luc Scheiff
Largest movements
- Receivables after one year +€257,597
up €257,597 (+532%), from €48,403 to €306,000
- Cash -€11,555
down €11,555 (-20.1%), from €57,623 to €46,068
mainly Receivables after one year (-€257,597) and Net result for the year (-€149,780)
- Deferred charges and accrued income +€7,917
up €7,917 (+3,639%), from €218 to €8,134
- Debts after one year +€258,975
up €258,975 (+1,577%), from €16,425 to €275,400
- Short-term financial debts +€214,894
up €214,894 (+12,987%), from €1,655 to €216,549
of which Other loans: +€214,200
- Profit (loss) carried forward -€149,780
down €149,780, from €6,061 to -€143,719
- Other debts -€113,592
down €113,592 (-94.7%), from €120,000 to €6,408
- Current portion of long-term debt +€30,600
new in 2025: €30,600
- Gross operating margin -€181,663
down €181,663, from €46,878 to -€134,785
- Financial charges +€11,148
up €11,148 (+540%), from €2,065 to €13,213
- Taxes -€8,285
down €8,285 (-98.4%), from €8,423 to €138
- Financial income +€3,048
up €3,048 (+170%), from €1,794 to €4,842
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 | €174,540 | €423,575 | +€249,034 | +143% |
| Fixed assets | 21/28 | €43,904 | €42,217 | -€1,687 | -3.8% |
| Tangible fixed assets | 22/27 | €43,904 | €42,217 | -€1,687 | -3.8% |
| Plant, machinery and equipment | 23 | €40,144 | €35,178 | -€4,966 | -12.4% |
| Furniture and vehicles | 24 | €3,760 | €7,039 | +€3,279 | +87.2% |
| Current assets | 29/58 | €130,636 | €381,357 | +€250,721 | +192% |
| Amounts receivable after more than one year | 29 | €48,403 | €306,000 | +€257,597 | +532% |
| Other amounts receivable | 291 | €48,403 | €306,000 | +€257,597 | +532% |
| Amounts receivable within one year | 40/41 | €24,392 | €21,155 | -€3,237 | -13.3% |
| Trade receivables | 40 | €19,224 | €6,855 | -€12,369 | -64.3% |
| Other amounts receivable | 41 | €5,168 | €14,300 | +€9,131 | +177% |
| Cash at bank and in hand | 54/58 | €57,623 | €46,068 | -€11,555 | -20.1% |
| Deferred charges and accrued income | 490/1 | €218 | €8,134 | +€7,917 | +3,639% |
| Total equity and liabilities | 10/49 | €174,540 | €423,575 | +€249,034 | +143% |
| Equity | 10/15 | €21,061 | -€128,719 | -€149,780 | |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,061 | -€143,719 | -€149,780 | |
| Amounts payable | 17/49 | €153,479 | €552,294 | +€398,814 | +260% |
| Amounts payable after more than one year | 17 | €16,425 | €275,400 | +€258,975 | +1,577% |
| Financial debts | 170/4 | €16,425 | €275,400 | +€258,975 | +1,577% |
| Amounts payable within one year | 42/48 | €136,794 | €265,802 | +€129,008 | +94.3% |
| Current portion of amounts payable after more than one year | 42 | - | €30,600 | +€30,600 | |
| Financial debts | 43 | €1,655 | €216,549 | +€214,894 | +12,987% |
| Credit institutions | 430/8 | €1,655 | €2,349 | +€694 | +41.9% |
| Other loans | 439 | - | €214,200 | +€214,200 | |
| Trade debts | 44 | €1,422 | €8,346 | +€6,924 | +487% |
| Suppliers | 440/4 | €1,422 | €8,346 | +€6,924 | +487% |
| Taxes, remuneration and social security | 45 | €13,718 | €3,900 | -€9,818 | -71.6% |
| Taxes | 450/3 | €9,218 | €3,900 | -€5,318 | -57.7% |
| Remuneration and social security | 454/9 | €4,500 | - | -€4,500 | |
| Other amounts payable | 47/48 | €120,000 | €6,408 | -€113,592 | -94.7% |
| Accrued charges and deferred income | 492/3 | €260 | €11,091 | +€10,831 | +4,166% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,009 | €6,486 | +€477 | +7.9% |
| Gross operating margin | 9900 | €46,878 | -€134,785 | -€181,663 | |
| Operating profit (loss) | 9901 | €40,869 | -€141,271 | -€182,140 | |
| Financial income | 75/76B | €1,794 | €4,842 | +€3,048 | +170% |
| Recurring financial income | 75 | €1,794 | €4,842 | +€3,048 | +170% |
| Financial charges | 65/66B | €2,065 | €13,213 | +€11,148 | +540% |
| Recurring financial charges | 65 | €2,065 | €13,213 | +€11,148 | +540% |
| Profit (loss) for the period before taxes | 9903 | €40,599 | -€149,642 | -€190,241 | |
| Income taxes | 67/77 | €8,423 | €138 | -€8,285 | -98.4% |
| Profit (loss) for the period | 9904 | €32,175 | -€149,780 | -€181,955 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,175 | -€149,780 | -€181,955 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.