IMMO LUNA: 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.
IMMO LUNA
Largest movements
- Tangible fixed assets +€539,506
up €539,506 (+34.5%), from €1.6m to €2.1m
- Debts after one year +€574,905
up €574,905 (+208.2%), from €276,167 to €851,072
of which Financial debts: +€574,905
- Current portion of long-term debt +€35,641
up €35,641 (+221.7%), from €16,075 to €51,716
- Other debts -€32,034
down €32,034 (-7.1%), from €449,360 to €417,326
- Reserves -€25,600
down €25,600 (-3.2%), from €788,775 to €763,175
of which Tax-exempt reserves: -€25,600
- Depreciation -€41,337
down €41,337 (-37.4%), from €110,384 to €69,047
- Gross operating margin +€18,985
up €18,985 (+42.8%), from €44,373 to €63,358
- Financial income -€12,690
down €12,690 (-45.9%), from €27,618 to €14,928
- Financial charges +€3,859
up €3,859 (+28.0%), from €13,775 to €17,633
- Other operating charges +€1,953
up €1,953 (+13.2%), from €14,778 to €16,731
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 | €1,973,113 | €2,509,518 | +€536,406 | +27.2% |
| Fixed assets | 21/28 | €1,564,289 | €2,103,794 | +€539,506 | +34.5% |
| Tangible fixed assets | 22/27 | €1,564,289 | €2,103,794 | +€539,506 | +34.5% |
| Land and buildings | 22 | €1,564,289 | €2,103,794 | +€539,506 | +34.5% |
| Current assets | 29/58 | €408,824 | €405,724 | -€3,100 | -0.8% |
| Amounts receivable within one year | 40/41 | €5,748 | €6,949 | +€1,201 | +20.9% |
| Trade receivables | 40 | €3,262 | €0 | -€3,262 | -100.0% |
| Other amounts receivable | 41 | €2,487 | €6,949 | +€4,463 | +179.5% |
| Current investments | 50/53 | €365,587 | €361,000 | -€4,587 | -1.3% |
| Cash at bank and in hand | 54/58 | €36,051 | €36,280 | +€229 | +0.6% |
| Deferred charges and accrued income | 490/1 | €1,438 | €1,494 | +€57 | +4.0% |
| Total equity and liabilities | 10/49 | €1,973,113 | €2,509,518 | +€536,406 | +27.2% |
| Equity | 10/15 | €1,026,858 | €995,266 | -€31,592 | -3.1% |
| Contributions | 10/11 | €212,000 | €212,000 | = | 0.0% |
| Capital | 10 | €212,000 | €212,000 | = | 0.0% |
| Issued capital | 100 | €212,000 | €212,000 | = | 0.0% |
| Reserves | 13 | €788,775 | €763,175 | -€25,600 | -3.2% |
| Non-distributable reserves | 130/1 | €21,200 | €21,200 | = | 0.0% |
| Legal reserve | 130 | €21,200 | €21,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €598,945 | €573,345 | -€25,600 | -4.3% |
| Distributable reserves | 133 | €168,630 | €168,630 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,083 | €20,091 | -€5,992 | -23.0% |
| Provisions and deferred taxes | 16 | €199,648 | €191,115 | -€8,533 | -4.3% |
| Deferred taxes | 168 | €199,648 | €191,115 | -€8,533 | -4.3% |
| Amounts payable | 17/49 | €746,606 | €1,323,137 | +€576,531 | +77.2% |
| Amounts payable after more than one year | 17 | €276,167 | €851,072 | +€574,905 | +208.2% |
| Financial debts | 170/4 | €272,695 | €847,601 | +€574,905 | +210.8% |
| Other amounts payable | 178/9 | €3,471 | €3,471 | = | 0.0% |
| Amounts payable within one year | 42/48 | €470,402 | €472,065 | +€1,663 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €16,075 | €51,716 | +€35,641 | +221.7% |
| Trade debts | 44 | €2,463 | €3,023 | +€560 | +22.7% |
| Suppliers | 440/4 | €2,463 | €3,023 | +€560 | +22.7% |
| Taxes, remuneration and social security | 45 | €2,504 | €0 | -€2,504 | -100.0% |
| Taxes | 450/3 | €2,504 | €0 | -€2,504 | -100.0% |
| Other amounts payable | 47/48 | €449,360 | €417,326 | -€32,034 | -7.1% |
| Accrued charges and deferred income | 492/3 | €38 | €0 | -€38 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €110,384 | €69,047 | -€41,337 | -37.4% |
| Other operating charges | 640/8 | €14,778 | €16,731 | +€1,953 | +13.2% |
| Non-recurring operating charges | 66A | - | €15,000 | +€15,000 | |
| Gross operating margin | 9900 | €44,373 | €63,358 | +€18,985 | +42.8% |
| Operating profit (loss) | 9901 | -€80,789 | -€37,420 | +€43,369 | +53.7% |
| Financial income | 75/76B | €27,618 | €14,928 | -€12,690 | -45.9% |
| Recurring financial income | 75 | €27,618 | €14,928 | -€12,690 | -45.9% |
| Financial charges | 65/66B | €13,775 | €17,633 | +€3,859 | +28.0% |
| Recurring financial charges | 65 | €13,775 | €17,633 | +€3,859 | +28.0% |
| Profit (loss) for the period before taxes | 9903 | -€66,945 | -€40,125 | +€26,820 | +40.1% |
| Transfer from deferred taxes | 780 | €6,329 | €8,533 | +€2,204 | +34.8% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€60,616 | -€31,592 | +€29,024 | +47.9% |
| Transfer from tax-exempt reserves | 789 | €18,988 | €25,600 | +€6,612 | +34.8% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€41,628 | -€5,992 | +€35,636 | +85.6% |
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.