LUAN: 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.
LUAN
Largest movements
- Cash -€479,805
down €479,805 (-99.1%), from €484,161 to €4,356
mainly Debts after one year (-€600,000) and Trade debts (-€315,177)
- Receivables within one year -€249,616
down €249,616 (-99.5%), from €250,932 to €1,316
of which Other amounts receivable: -€249,949
- Current investments -€153,980
down €153,980 (-100.0%), from €153,980 to €0
- Tangible fixed assets -€34,752
down €34,752 (-2.1%), from €1.6m to €1.6m
- Debts after one year -€600,000
down €600,000 (-100.0%), from €600,000 to €0
- Trade debts -€315,177
down €315,177 (-100.0%), from €315,297 to €120
- Other debts +€65,329
up €65,329, from €0 to €65,329
- Profit (loss) carried forward -€53,914
down €53,914, from €10,364 to -€43,551
- Gross operating margin -€467,199
down €467,199 (-99.4%), from €469,988 to €2,789
- Depreciation -€51,203
down €51,203 (-53.0%), from €96,700 to €45,497
- Taxes -€7,418
down €7,418 (-100.0%), from €7,418 to €0
- Financial income -€5,515
down €5,515 (-60.4%), from €9,124 to €3,610
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 | €2,512,723 | €1,594,570 | -€918,153 | -36.5% |
| Fixed assets | 21/28 | €1,623,650 | €1,588,899 | -€34,752 | -2.1% |
| Tangible fixed assets | 22/27 | €1,623,650 | €1,588,899 | -€34,752 | -2.1% |
| Land and buildings | 22 | €1,623,650 | €1,588,899 | -€34,752 | -2.1% |
| Current assets | 29/58 | €889,073 | €5,672 | -€883,401 | -99.4% |
| Amounts receivable within one year | 40/41 | €250,932 | €1,316 | -€249,616 | -99.5% |
| Trade receivables | 40 | - | €333 | +€333 | |
| Other amounts receivable | 41 | €250,932 | €983 | -€249,949 | -99.6% |
| Current investments | 50/53 | €153,980 | €0 | -€153,980 | -100.0% |
| Cash at bank and in hand | 54/58 | €484,161 | €4,356 | -€479,805 | -99.1% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €2,512,723 | €1,594,570 | -€918,153 | -36.5% |
| Equity | 10/15 | €1,485,954 | €1,421,247 | -€64,707 | -4.4% |
| Contributions | 10/11 | €1,074,451 | €1,074,451 | = | 0.0% |
| Reserves | 13 | €401,139 | €390,347 | -€10,793 | -2.7% |
| Tax-exempt reserves | 132 | €334,415 | €323,622 | -€10,793 | -3.2% |
| Distributable reserves | 133 | €66,725 | €66,725 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,364 | -€43,551 | -€53,914 | |
| Provisions and deferred taxes | 16 | €111,472 | €107,874 | -€3,598 | -3.2% |
| Deferred taxes | 168 | €111,472 | €107,874 | -€3,598 | -3.2% |
| Amounts payable | 17/49 | €915,297 | €65,449 | -€849,848 | -92.8% |
| Amounts payable after more than one year | 17 | €600,000 | €0 | -€600,000 | -100.0% |
| Financial debts | 170/4 | €600,000 | €0 | -€600,000 | -100.0% |
| Amounts payable within one year | 42/48 | €315,297 | €65,449 | -€249,848 | -79.2% |
| Trade debts | 44 | €315,297 | €120 | -€315,177 | -100.0% |
| Suppliers | 440/4 | €315,297 | €120 | -€315,177 | -100.0% |
| Other amounts payable | 47/48 | €0 | €65,329 | +€65,329 | |
| Non-recurring operating income | 76A | €494,601 | €0 | -€494,601 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,700 | €45,497 | -€51,203 | -53.0% |
| Other operating charges | 640/8 | €641 | €2,937 | +€2,295 | +357.8% |
| Non-recurring operating charges | 66A | €45,012 | €23,561 | -€21,451 | -47.7% |
| Gross operating margin | 9900 | €469,988 | €2,789 | -€467,199 | -99.4% |
| Operating profit (loss) | 9901 | €327,634 | -€69,206 | -€396,840 | |
| Financial income | 75/76B | €9,124 | €3,610 | -€5,515 | -60.4% |
| Recurring financial income | 75 | €9,124 | €3,610 | -€5,515 | -60.4% |
| Financial charges | 65/66B | €5,523 | €2,708 | -€2,815 | -51.0% |
| Recurring financial charges | 65 | €5,523 | €2,708 | -€2,815 | -51.0% |
| Profit (loss) for the period before taxes | 9903 | €331,235 | -€68,305 | -€399,539 | |
| Transfer from deferred taxes | 780 | €65,859 | €3,598 | -€62,262 | -94.5% |
| Transfer to deferred taxes | 680 | €118,719 | €0 | -€118,719 | -100.0% |
| Income taxes | 67/77 | €7,418 | €0 | -€7,418 | -100.0% |
| Profit (loss) for the period | 9904 | €270,956 | -€64,707 | -€335,663 | |
| Transfer from tax-exempt reserves | 789 | €135,424 | €10,793 | -€124,632 | -92.0% |
| Transfer to tax-exempt reserves | 689 | €356,158 | €0 | -€356,158 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €50,223 | -€53,914 | -€104,137 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.