LUANS: 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.
LUANS
Largest movements
- Receivables within one year +€258,175
up €258,175 (+82.1%), from €314,353 to €572,528
of which Trade receivables: +€397,560
- Tangible fixed assets +€60,345
up €60,345 (+50.0%), from €120,624 to €180,969
of which Furniture and vehicles: +€63,503
- Other debts +€196,142
up €196,142 (+105.7%), from €185,501 to €381,643
- Trade debts +€99,321
up €99,321 (+1102.0%), from €9,013 to €108,333
- Profit (loss) carried forward +€21,787
up €21,787 (+64.2%), from -€33,957 to -€12,170
- Gross operating margin +€54,292
up €54,292 (+39.3%), from €137,997 to €192,289
- Other operating charges -€28,477
down €28,477 (-65.1%), from €43,747 to €15,270
- Staff costs +€13,890
up €13,890 (+20.4%), from €68,203 to €82,093
- Depreciation +€13,684
up €13,684 (+41.5%), from €32,959 to €46,643
- Taxes +€13,221
up €13,221 (+295.9%), from €4,469 to €17,690
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 | €437,318 | €757,706 | +€320,388 | +73.3% |
| Fixed assets | 21/28 | €120,624 | €180,969 | +€60,345 | +50.0% |
| Tangible fixed assets | 22/27 | €120,624 | €180,969 | +€60,345 | +50.0% |
| Land and buildings | 22 | €15,823 | €10,489 | -€5,333 | -33.7% |
| Plant, machinery and equipment | 23 | - | €2,175 | +€2,175 | |
| Furniture and vehicles | 24 | €104,802 | €168,305 | +€63,503 | +60.6% |
| Current assets | 29/58 | €316,694 | €576,736 | +€260,043 | +82.1% |
| Amounts receivable within one year | 40/41 | €314,353 | €572,528 | +€258,175 | +82.1% |
| Trade receivables | 40 | €169,579 | €567,139 | +€397,560 | +234.4% |
| Other amounts receivable | 41 | €144,774 | €5,389 | -€139,385 | -96.3% |
| Cash at bank and in hand | 54/58 | €19 | €1 | -€18 | -95.2% |
| Deferred charges and accrued income | 490/1 | €2,322 | €4,208 | +€1,886 | +81.2% |
| Total equity and liabilities | 10/49 | €437,318 | €757,706 | +€320,388 | +73.3% |
| Equity | 10/15 | €63,405 | €85,192 | +€21,787 | +34.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €78,762 | €78,762 | = | 0.0% |
| Tax-exempt reserves | 132 | €20,667 | €20,667 | = | 0.0% |
| Distributable reserves | 133 | €58,095 | €58,095 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33,957 | -€12,170 | +€21,787 | +64.2% |
| Amounts payable | 17/49 | €373,913 | €672,514 | +€298,601 | +79.9% |
| Amounts payable within one year | 42/48 | €373,913 | €668,879 | +€294,966 | +78.9% |
| Financial debts | 43 | €100,182 | €100,475 | +€293 | +0.3% |
| Credit institutions | 430/8 | €100,182 | €100,475 | +€293 | +0.3% |
| Trade debts | 44 | €9,013 | €108,333 | +€99,321 | +1102.0% |
| Suppliers | 440/4 | €9,013 | €108,333 | +€99,321 | +1102.0% |
| Taxes, remuneration and social security | 45 | €79,217 | €78,428 | -€789 | -1.0% |
| Taxes | 450/3 | €66,710 | €67,833 | +€1,123 | +1.7% |
| Remuneration and social security | 454/9 | €12,508 | €10,595 | -€1,912 | -15.3% |
| Other amounts payable | 47/48 | €185,501 | €381,643 | +€196,142 | +105.7% |
| Accrued charges and deferred income | 492/3 | - | €3,635 | +€3,635 | |
| Non-recurring operating income | 76A | €0 | €7,662 | +€7,662 | |
| Remuneration, social security and pensions | 62 | €68,203 | €82,093 | +€13,890 | +20.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,959 | €46,643 | +€13,684 | +41.5% |
| Other operating charges | 640/8 | €43,747 | €15,270 | -€28,477 | -65.1% |
| Non-recurring operating charges | 66A | €0 | €1,179 | +€1,179 | |
| Gross operating margin | 9900 | €137,997 | €192,289 | +€54,292 | +39.3% |
| Operating profit (loss) | 9901 | -€6,912 | €47,105 | +€54,017 | |
| Financial income | 75/76B | €403 | €308 | -€95 | -23.5% |
| Recurring financial income | 75 | €403 | €308 | -€95 | -23.5% |
| Financial charges | 65/66B | €6,719 | €7,936 | +€1,217 | +18.1% |
| Recurring financial charges | 65 | €6,719 | €7,936 | +€1,217 | +18.1% |
| Profit (loss) for the period before taxes | 9903 | -€13,228 | €39,477 | +€52,705 | |
| Income taxes | 67/77 | €4,469 | €17,690 | +€13,221 | +295.9% |
| Profit (loss) for the period | 9904 | -€17,696 | €21,787 | +€39,483 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,696 | €21,787 | +€39,483 |
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 5 October 2026 via checked.be.