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 +€62,530
up €62,530 (+145.1%), from €43,090 to €105,620
mainly Net result for the year (+€50,531) and Tax, wage and social debts (+€11,331)
- Receivables within one year +€18,959
up €18,959 (+28.8%), from €65,842 to €84,802
of which Other amounts receivable: +€10,270
- Tangible fixed assets -€18,598
down €18,598 (-15.5%), from €120,165 to €101,568
- Reserves +€52,736
up €52,736 (+533.7%), from €9,882 to €62,618
of which Distributable reserves: +€52,736
- Tax, wage and social debts +€11,331
up €11,331 (+232.9%), from €4,865 to €16,196
- Staff costs -€137,892
no longer reported in 2025 (was €137,892)
- Gross operating margin -€74,643
down €74,643 (-49.0%), from €152,371 to €77,729
- Taxes +€16,147
up €16,147 (+33095.2%), from €49 to €16,196
- Depreciation -€8,747
down €8,747 (-47.1%), from €18,582 to €9,835
- Other operating charges -€8,536
down €8,536 (-89.4%), from €9,544 to €1,009
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 | €229,248 | €292,139 | +€62,892 | +27.4% |
| Fixed assets | 21/28 | €120,315 | €101,718 | -€18,598 | -15.5% |
| Tangible fixed assets | 22/27 | €120,165 | €101,568 | -€18,598 | -15.5% |
| Land and buildings | 22 | €106,452 | €100,163 | -€6,290 | -5.9% |
| Plant, machinery and equipment | 23 | €7,017 | - | -€7,017 | |
| Furniture and vehicles | 24 | €6,696 | €1,405 | -€5,291 | -79.0% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €108,932 | €190,422 | +€81,489 | +74.8% |
| Amounts receivable within one year | 40/41 | €65,842 | €84,802 | +€18,959 | +28.8% |
| Trade receivables | 40 | €40,348 | €49,038 | +€8,690 | +21.5% |
| Other amounts receivable | 41 | €25,494 | €35,764 | +€10,270 | +40.3% |
| Cash at bank and in hand | 54/58 | €43,090 | €105,620 | +€62,530 | +145.1% |
| Total equity and liabilities | 10/49 | €229,248 | €292,139 | +€62,892 | +27.4% |
| Equity | 10/15 | €223,074 | €273,605 | +€50,531 | +22.7% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Revaluation surpluses | 12 | €180,000 | €180,000 | = | 0.0% |
| Reserves | 13 | €9,882 | €62,618 | +€52,736 | +533.7% |
| Non-distributable reserves | 130/1 | €639 | €639 | = | 0.0% |
| Reserves not available under the articles | 1311 | €639 | €639 | = | 0.0% |
| Distributable reserves | 133 | €9,243 | €61,979 | +€52,736 | +570.6% |
| Profit (loss) carried forward | 14 | €2,205 | - | -€2,205 | |
| Amounts payable | 17/49 | €6,174 | €18,535 | +€12,361 | +200.2% |
| Amounts payable within one year | 42/48 | €6,174 | €18,535 | +€12,361 | +200.2% |
| Trade debts | 44 | €1,309 | €1,239 | -€70 | -5.4% |
| Suppliers | 440/4 | €1,309 | €1,239 | -€70 | -5.4% |
| Taxes, remuneration and social security | 45 | €4,865 | €16,196 | +€11,331 | +232.9% |
| Remuneration and social security | 454/9 | €4,865 | €16,196 | +€11,331 | +232.9% |
| Other amounts payable | 47/48 | - | €1,100 | +€1,100 | |
| Non-recurring operating income | 76A | - | €91,238 | +€91,238 | |
| Remuneration, social security and pensions | 62 | €137,892 | - | -€137,892 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,582 | €9,835 | -€8,747 | -47.1% |
| Other operating charges | 640/8 | €9,544 | €1,009 | -€8,536 | -89.4% |
| Gross operating margin | 9900 | €152,371 | €77,729 | -€74,643 | -49.0% |
| Operating profit (loss) | 9901 | -€13,648 | €66,884 | +€80,532 | |
| Financial income | 75/76B | €832 | €7 | -€825 | -99.2% |
| Recurring financial income | 75 | €832 | €7 | -€825 | -99.2% |
| Financial charges | 65/66B | €2,685 | €165 | -€2,520 | -93.9% |
| Recurring financial charges | 65 | €2,685 | €165 | -€2,520 | -93.9% |
| Profit (loss) for the period before taxes | 9903 | -€15,501 | €66,727 | +€82,227 | |
| Income taxes | 67/77 | €49 | €16,196 | +€16,147 | +33095.2% |
| Profit (loss) for the period | 9904 | -€15,549 | €50,531 | +€66,080 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,549 | €50,531 | +€66,080 |
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 3 October 2026 via checked.be.