LUARPA: 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.
LUARPA
Largest movements
- Receivables within one year -€221,398
down €221,398 (-78.5%), from €282,093 to €60,695
of which Trade receivables: -€213,550
- Cash +€86,627
up €86,627 (+25.0%), from €346,938 to €433,565
mainly Receivables within one year (+€221,398) and Depreciation (+€46,694)
- Tangible fixed assets -€38,288
down €38,288 (-2.5%), from €1.5m to €1.5m
of which Land and buildings: -€36,714
- Reserves -€160,142
down €160,142 (-9.0%), from €1.8m to €1.6m
of which Distributable reserves: -€135,050
- Debts after one year -€28,731
down €28,731 (-13.4%), from €214,486 to €185,755
- Gross operating margin -€530,046
down €530,046 (-89.1%), from €594,580 to €64,534
- Taxes -€119,210
down €119,210 (-87.8%), from €135,845 to €16,635
- Depreciation -€98,863
down €98,863 (-67.9%), from €145,557 to €46,694
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 | €2,446,393 | €2,274,231 | -€172,162 | -7.0% |
| Fixed assets | 21/28 | €1,534,490 | €1,496,201 | -€38,288 | -2.5% |
| Tangible fixed assets | 22/27 | €1,534,490 | €1,496,201 | -€38,288 | -2.5% |
| Land and buildings | 22 | €1,531,089 | €1,494,375 | -€36,714 | -2.4% |
| Furniture and vehicles | 24 | €3,401 | €1,826 | -€1,574 | -46.3% |
| Current assets | 29/58 | €911,903 | €778,030 | -€133,874 | -14.7% |
| Amounts receivable after more than one year | 29 | €185,000 | €185,000 | = | 0.0% |
| Trade receivables | 290 | €185,000 | €185,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €282,093 | €60,695 | -€221,398 | -78.5% |
| Trade receivables | 40 | €225,650 | €12,100 | -€213,550 | -94.6% |
| Other amounts receivable | 41 | €56,443 | €48,595 | -€7,848 | -13.9% |
| Current investments | 50/53 | €92,294 | €92,294 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €346,938 | €433,565 | +€86,627 | +25.0% |
| Deferred charges and accrued income | 490/1 | €5,579 | €6,477 | +€897 | +16.1% |
| Total equity and liabilities | 10/49 | €2,446,393 | €2,274,231 | -€172,162 | -7.0% |
| Equity | 10/15 | €1,807,540 | €1,647,398 | -€160,142 | -8.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,787,540 | €1,627,398 | -€160,142 | -9.0% |
| Tax-exempt reserves | 132 | €838,317 | €813,225 | -€25,091 | -3.0% |
| Distributable reserves | 133 | €949,223 | €814,173 | -€135,050 | -14.2% |
| Provisions and deferred taxes | 16 | €246,181 | €237,817 | -€8,364 | -3.4% |
| Deferred taxes | 168 | €246,181 | €237,817 | -€8,364 | -3.4% |
| Amounts payable | 17/49 | €392,673 | €389,016 | -€3,656 | -0.9% |
| Amounts payable after more than one year | 17 | €214,486 | €185,755 | -€28,731 | -13.4% |
| Financial debts | 170/4 | €214,486 | €185,755 | -€28,731 | -13.4% |
| Amounts payable within one year | 42/48 | €178,187 | €203,262 | +€25,075 | +14.1% |
| Current portion of amounts payable after more than one year | 42 | €27,888 | €28,731 | +€843 | +3.0% |
| Trade debts | 44 | €2,115 | €8,790 | +€6,675 | +315.6% |
| Suppliers | 440/4 | €2,115 | €8,790 | +€6,675 | +315.6% |
| Taxes, remuneration and social security | 45 | €145,271 | €162,828 | +€17,558 | +12.1% |
| Taxes | 450/3 | €145,271 | €162,828 | +€17,558 | +12.1% |
| Other amounts payable | 47/48 | €2,913 | €2,913 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €145,557 | €46,694 | -€98,863 | -67.9% |
| Other operating charges | 640/8 | €7,156 | €7,445 | +€288 | +4.0% |
| Gross operating margin | 9900 | €594,580 | €64,534 | -€530,046 | -89.1% |
| Operating profit (loss) | 9901 | €441,866 | €10,395 | -€431,471 | -97.6% |
| Financial income | 75/76B | €6,576 | €6,137 | -€439 | -6.7% |
| Recurring financial income | 75 | €6,576 | €6,137 | -€439 | -6.7% |
| Financial charges | 65/66B | €9,863 | €10,176 | +€313 | +3.2% |
| Recurring financial charges | 65 | €9,863 | €10,176 | +€313 | +3.2% |
| Profit (loss) for the period before taxes | 9903 | €438,579 | €6,356 | -€432,223 | -98.6% |
| Transfer from deferred taxes | 780 | €8,382 | €8,364 | -€18 | -0.2% |
| Income taxes | 67/77 | €135,845 | €16,635 | -€119,210 | -87.8% |
| Profit (loss) for the period | 9904 | €311,115 | -€1,916 | -€313,031 | |
| Transfer from tax-exempt reserves | 789 | €25,145 | €25,091 | -€54 | -0.2% |
| Transfer to tax-exempt reserves | 689 | €105,250 | - | -€105,250 | |
| Profit (loss) for the period to be appropriated | 9905 | €231,011 | €23,175 | -€207,835 | -90.0% |
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 29 September 2026 via checked.be.