Fluvius Limburg: what changed
What changed
Fluvius Limburg
NACE 35.140, Electricity, gas, steam and air conditioning supply
filed annual accounts (NBB)
Net result for the year
€12.6m
2024 · €159.4m-€146.7m
Equity
€1.66bn
2024 · €1.67bn-€15.0m
Cash
€905
2024 · €1,865-€959
Balance sheet total
€3.26bn
2024 · €3.00bn+€258.1m
Largest movements
Assets
- Tangible fixed assets +€143.9m
up €143.9m (+5.7%), from €2.52bn to €2.67bn
of which Plant, machinery and equipment: +€137.1m
- Receivables within one year +€67.3m
up €67.3m (+52.4%), from €128.4m to €195.7m
of which Other amounts receivable: +€35.6m
- Receivables after one year +€35.4m
up €35.4m (+62.9%), from €56.3m to €91.7m
of which Other amounts receivable: +€35.8m
Equity and liabilities
- Debts after one year +€173.9m
up €173.9m (+15.1%), from €1.15bn to €1.32bn
- Trade debts +€63.5m
up €63.5m (+353%), from €18.0m to €81.5m
- Reserves -€37.7m
down €37.7m (-9.3%), from €406.9m to €369.2m
of which Non-distributable reserves: -€35.4m
Income statement
- Financial income -€168.5m
down €168.5m (-95.2%), from €176.9m to €8.4m
of which Non-recurring financial income: -€170.3m
- Turnover +€82.5m
up €82.5m (+23.5%), from €351.8m to €434.3m
- Goods and materials +€40.0m
up €40.0m (+30.8%), from €130.0m to €170.0m
- Services and other goods -€14.3m
down €14.3m (-8.0%), from €178.0m to €163.7m
- Financial charges +€6.3m
up €6.3m (+25.5%), from €24.7m to €31.0m
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€159.4m
Turnover
+€82.5m
Other operating income
-€5.0m
Goods and materials
-€40.0m
Services and other goods
+€14.3m
Depreciation
-€4.4m
Write-downs
+€2.3m
Provisions
+€3,227
Other operating charges
-€2.1m
Other operating items
-€18.4m
Financial income
-€168.5m
Financial charges
-€6.3m
Taxes
-€1.3m
Deferred taxes and other
+€178,438
Result 2025
€12.6m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€91.1m
Investment
-€244.6m
Financing
+€153.5m
Cash 2024
€1,865
From operations (derived)
+€91.1m
Net result for the year
+€12.6m
Depreciation
+€100.3m
Receivables after one year
-€35.4m
Stocks and contracts
-€536,210
Receivables within one year
-€67.3m
Deferred charges and accrued income
-€10.6m
Provisions
+€8.4m
Trade debts
+€63.5m
Tax, wage and social debts
+€688,927
Advances received
+€5.9m
Other debts
-€3.0m
Accrued charges and deferred income
+€16.5m
Investment (derived)
-€244.6m
Investment in fixed assets (net)
-€244.6m
Financing
+€153.5m
Debts after one year
+€173.9m
Current portion of long-term debt
+€7.2m
Contributions, distributions and other
-€27.6m
Cash 2025
€905
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,997,199,476 | €3,255,341,179 | +€258.1m | +8.6% |
| Fixed assets | 21/28 | €2,728,024,649 | €2,872,298,964 | +€144.3m | +5.3% |
| Intangible fixed assets | 21 | €18,591,969 | €18,971,349 | +€379,380 | +2.0% |
| Tangible fixed assets | 22/27 | €2,524,521,498 | €2,668,421,302 | +€143.9m | +5.7% |
| Land and buildings | 22 | €27,353,788 | €28,934,712 | +€1.6m | +5.8% |
| Plant, machinery and equipment | 23 | €2,118,782,887 | €2,255,932,045 | +€137.1m | +6.5% |
| Furniture and vehicles | 24 | €9,120,790 | €10,723,138 | +€1.6m | +17.6% |
| Leasing and similar rights | 25 | €4,068,511 | €4,095,684 | +€27,174 | +0.7% |
| Other tangible fixed assets | 26 | €212,741 | €1,198,766 | +€986,025 | +463% |
| Assets under construction and advance payments | 27 | €364,982,781 | €367,536,958 | +€2.6m | +0.7% |
| Financial fixed assets | 28 | €184,911,182 | €184,906,313 | -€4,869 | 0.0% |
| Companies linked by participating interests | 282/3 | €184,905,433 | €184,901,850 | -€3,582 | 0.0% |
| Participating interests | 282 | €184,905,433 | €184,901,850 | -€3,582 | 0.0% |
| Other financial fixed assets | 284/8 | €5,749 | €4,462 | -€1,287 | -22.4% |
| Shares | 284 | €4,462 | €4,462 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €1,287 | - | -€1,287 | |
| Current assets | 29/58 | €269,174,827 | €383,042,215 | +€113.9m | +42.3% |
| Amounts receivable after more than one year | 29 | €56,265,787 | €91,655,339 | +€35.4m | +62.9% |
| Trade receivables | 290 | €4,601,364 | €4,236,032 | -€365,332 | -7.9% |
| Other amounts receivable | 291 | €51,664,423 | €87,419,306 | +€35.8m | +69.2% |
| Stocks and contracts in progress | 3 | €30,131,154 | €30,667,364 | +€536,210 | +1.8% |
| Contracts in progress | 37 | €30,131,154 | €30,667,364 | +€536,210 | +1.8% |
| Amounts receivable within one year | 40/41 | €128,423,859 | €195,728,512 | +€67.3m | +52.4% |
| Trade receivables | 40 | €53,798,055 | €85,495,964 | +€31.7m | +58.9% |
| Other amounts receivable | 41 | €74,625,804 | €110,232,548 | +€35.6m | +47.7% |
| Cash at bank and in hand | 54/58 | €1,865 | €905 | -€959 | -51.4% |
| Deferred charges and accrued income | 490/1 | €54,352,162 | €64,990,095 | +€10.6m | +19.6% |
| Total equity and liabilities | 10/49 | €2,997,199,476 | €3,255,341,179 | +€258.1m | +8.6% |
| Equity | 10/15 | €1,673,729,341 | €1,658,770,893 | -€15.0m | -0.9% |
| Contributions | 10/11 | €719,507,426 | €713,688,993 | -€5.8m | -0.8% |
| Revaluation surpluses | 12 | €274,791,218 | €258,043,057 | -€16.7m | -6.1% |
| Reserves | 13 | €406,895,469 | €369,190,363 | -€37.7m | -9.3% |
| Non-distributable reserves | 130/1 | €266,390,897 | €231,015,751 | -€35.4m | -13.3% |
| Reserves not available under the articles | 1311 | €42,477,568 | - | -€42.5m | |
| Other | 1319 | €223,913,329 | €231,015,751 | +€7.1m | +3.2% |
| Tax-exempt reserves | 132 | €2,510,606 | €1,215,317 | -€1.3m | -51.6% |
| Distributable reserves | 133 | €137,993,966 | €136,959,296 | -€1.0m | -0.7% |
| Profit (loss) carried forward | 14 | €44,359,742 | €67,737,233 | +€23.4m | +52.7% |
| Investment grants | 15 | €228,175,485 | €250,111,247 | +€21.9m | +9.6% |
| Provisions and deferred taxes | 16 | €42,605,336 | €50,981,558 | +€8.4m | +19.7% |
| Provisions for liabilities and charges | 160/5 | €8,067,662 | €8,064,435 | -€3,227 | 0.0% |
| Environmental obligations | 163 | €343,662 | €340,435 | -€3,227 | -0.9% |
| Other liabilities and charges | 164/5 | €7,724,000 | €7,724,000 | = | 0.0% |
| Deferred taxes | 168 | €34,537,674 | €42,917,123 | +€8.4m | +24.3% |
| Amounts payable | 17/49 | €1,280,864,799 | €1,545,588,729 | +€264.7m | +20.7% |
| Amounts payable after more than one year | 17 | €1,150,309,979 | €1,324,182,291 | +€173.9m | +15.1% |
| Financial debts | 170/4 | €1,150,309,979 | €1,324,182,291 | +€173.9m | +15.1% |
| Leasing and similar obligations | 172 | €4,215,564 | €4,000,596 | -€214,967 | -5.1% |
| Credit institutions | 173 | €1,135,364,415 | €1,301,995,163 | +€166.6m | +14.7% |
| Other loans | 174 | €10,730,000 | €18,186,532 | +€7.5m | +69.5% |
| Amounts payable within one year | 42/48 | €112,074,605 | €186,410,935 | +€74.3m | +66.3% |
| Current portion of amounts payable after more than one year | 42 | €20,786,925 | €28,003,370 | +€7.2m | +34.7% |
| Trade debts | 44 | €17,974,451 | €81,490,417 | +€63.5m | +353% |
| Suppliers | 440/4 | €17,974,451 | €81,490,417 | +€63.5m | +353% |
| Advances received on contracts in progress | 46 | €31,295,744 | €37,244,477 | +€5.9m | +19.0% |
| Taxes, remuneration and social security | 45 | €9,978,184 | €10,667,111 | +€688,927 | +6.9% |
| Taxes | 450/3 | €9,978,184 | €10,667,111 | +€688,927 | +6.9% |
| Other amounts payable | 47/48 | €32,039,302 | €29,005,560 | -€3.0m | -9.5% |
| Accrued charges and deferred income | 492/3 | €18,480,215 | €34,995,502 | +€16.5m | +89.4% |
| Operating income | 70/76A | €444,491,611 | €503,115,377 | +€58.6m | +13.2% |
| Turnover | 70 | €351,808,989 | €434,321,317 | +€82.5m | +23.5% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €19,462,757 | €536,210 | -€18.9m | -97.2% |
| Other operating income | 74 | €73,219,865 | €68,257,849 | -€5.0m | -6.8% |
| Operating charges | 60/66A | €437,884,932 | €467,273,964 | +€29.4m | +6.7% |
| Goods for resale, raw materials and consumables | 60 | €129,987,223 | €169,982,709 | +€40.0m | +30.8% |
| Purchases | 600/8 | €129,987,223 | €169,982,709 | +€40.0m | +30.8% |
| Services and other goods | 61 | €177,958,629 | €163,666,440 | -€14.3m | -8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,886,896 | €100,336,808 | +€4.4m | +4.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,443,484 | €1,102,659 | -€2.3m | -68.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€3,227 | -€3,227 | |
| Other operating charges | 640/8 | €15,508,700 | €17,644,949 | +€2.1m | +13.8% |
| Non-recurring operating charges | 66A | €15,100,000 | €14,543,625 | -€556,375 | -3.7% |
| Operating profit (loss) | 9901 | €6,606,679 | €35,841,413 | +€29.2m | +443% |
| Financial income | 75/76B | €176,937,908 | €8,418,018 | -€168.5m | -95.2% |
| Recurring financial income | 75 | €6,682,420 | €8,418,018 | +€1.7m | +26.0% |
| Income from current assets | 751 | €2,042,062 | €3,263,594 | +€1.2m | +59.8% |
| Other financial income | 752/9 | €4,640,358 | €5,154,424 | +€514,066 | +11.1% |
| Non-recurring financial income | 76B | €170,255,488 | - | -€170.3m | |
| Financial charges | 65/66B | €24,666,046 | €30,961,708 | +€6.3m | +25.5% |
| Recurring financial charges | 65 | €24,666,046 | €30,961,708 | +€6.3m | +25.5% |
| Debt charges | 650 | €24,652,193 | €30,956,557 | +€6.3m | +25.6% |
| Other financial charges | 652/9 | €13,853 | €5,151 | -€8,702 | -62.8% |
| Profit (loss) for the period before taxes | 9903 | €158,878,541 | €13,297,723 | -€145.6m | -91.6% |
| Transfer from deferred taxes | 780 | €479,941 | €658,379 | +€178,438 | +37.2% |
| Income taxes | 67/77 | - | €1,320,742 | +€1.3m | |
| Taxes | 670/3 | - | €1,320,742 | +€1.3m | |
| Profit (loss) for the period | 9904 | €159,358,483 | €12,635,360 | -€146.7m | -92.1% |
| Profit (loss) for the period to be appropriated | 9905 | €159,358,483 | €12,635,360 | -€146.7m | -92.1% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.