LUCA PULLARA MANAGEMENT: what changed
Two financial 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.
LUCA PULLARA MANAGEMENT
Largest movements
- Financial fixed assets +€393,333
new in 2025: €393,333
- Cash -€64,468
down €64,468 (-91.4%), from €70,567 to €6,099
mainly Investment in fixed assets (net) (-€409,787) and Contributions, distributions and other (-€133,269)
- Receivables within one year +€13,026
up €13,026 (+195.4%), from €6,665 to €19,691
of which Trade receivables: +€16,200
- Debts after one year +€342,454
up €342,454 (+3057.7%), from €11,200 to €353,653
- Profit (loss) carried forward -€100,647
down €100,647 (-97.5%), from €103,269 to €2,622
- Current portion of long-term debt +€40,725
up €40,725 (+489.9%), from €8,313 to €49,039
- Other debts +€37,574
new in 2025: €37,574
- Accrued charges and deferred income +€20,000
new in 2025: €20,000
- Gross operating margin -€10,558
down €10,558 (-13.2%), from €79,876 to €69,318
- Financial charges +€8,893
up €8,893 (+845.2%), from €1,052 to €9,945
- Taxes -€2,900
down €2,900 (-20.1%), from €14,409 to €11,509
- Depreciation +€2,561
up €2,561 (+21.7%), from €11,822 to €14,383
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 | €128,886 | €472,820 | +€343,934 | +266.9% |
| Fixed assets | 21/28 | €51,481 | €446,885 | +€395,404 | +768.1% |
| Tangible fixed assets | 22/27 | €51,481 | €53,552 | +€2,071 | +4.0% |
| Plant, machinery and equipment | 23 | - | €1,462 | +€1,462 | |
| Furniture and vehicles | 24 | €27,790 | €17,211 | -€10,579 | -38.1% |
| Other tangible fixed assets | 26 | €15,192 | €34,879 | +€19,688 | +129.6% |
| Assets under construction and advance payments | 27 | €8,500 | €0 | -€8,500 | -100.0% |
| Financial fixed assets | 28 | - | €393,333 | +€393,333 | |
| Current assets | 29/58 | €77,405 | €25,935 | -€51,470 | -66.5% |
| Amounts receivable within one year | 40/41 | €6,665 | €19,691 | +€13,026 | +195.4% |
| Trade receivables | 40 | - | €16,200 | +€16,200 | |
| Other amounts receivable | 41 | €6,665 | €3,491 | -€3,174 | -47.6% |
| Cash at bank and in hand | 54/58 | €70,567 | €6,099 | -€64,468 | -91.4% |
| Deferred charges and accrued income | 490/1 | €173 | €145 | -€28 | -16.0% |
| Total equity and liabilities | 10/49 | €128,886 | €472,820 | +€343,934 | +266.9% |
| Equity | 10/15 | €105,269 | €4,622 | -€100,647 | -95.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €103,269 | €2,622 | -€100,647 | -97.5% |
| Amounts payable | 17/49 | €23,617 | €468,199 | +€444,581 | +1882.5% |
| Amounts payable after more than one year | 17 | €11,200 | €353,653 | +€342,454 | +3057.7% |
| Financial debts | 170/4 | €11,200 | €353,653 | +€342,454 | +3057.7% |
| Amounts payable within one year | 42/48 | €12,417 | €94,545 | +€82,128 | +661.4% |
| Current portion of amounts payable after more than one year | 42 | €8,313 | €49,039 | +€40,725 | +489.9% |
| Financial debts | 43 | - | €1,269 | +€1,269 | |
| Credit institutions | 430/8 | - | €1,269 | +€1,269 | |
| Trade debts | 44 | €1,613 | €923 | -€690 | -42.8% |
| Suppliers | 440/4 | €1,613 | €923 | -€690 | -42.8% |
| Taxes, remuneration and social security | 45 | €2,491 | €5,740 | +€3,249 | +130.4% |
| Taxes | 450/3 | - | €5,740 | +€5,740 | |
| Remuneration and social security | 454/9 | €2,491 | €0 | -€2,491 | -100.0% |
| Other amounts payable | 47/48 | - | €37,574 | +€37,574 | |
| Accrued charges and deferred income | 492/3 | - | €20,000 | +€20,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,822 | €14,383 | +€2,561 | +21.7% |
| Other operating charges | 640/8 | €598 | €859 | +€261 | +43.6% |
| Gross operating margin | 9900 | €79,876 | €69,318 | -€10,558 | -13.2% |
| Operating profit (loss) | 9901 | €67,455 | €54,076 | -€13,380 | -19.8% |
| Financial income | 75/76B | €42 | €0 | -€42 | -100.0% |
| Recurring financial income | 75 | €42 | €0 | -€42 | -100.0% |
| Financial charges | 65/66B | €1,052 | €9,945 | +€8,893 | +845.2% |
| Recurring financial charges | 65 | €1,052 | €9,945 | +€8,893 | +845.2% |
| Profit (loss) for the period before taxes | 9903 | €66,445 | €44,131 | -€22,314 | -33.6% |
| Income taxes | 67/77 | €14,409 | €11,509 | -€2,900 | -20.1% |
| Profit (loss) for the period | 9904 | €52,035 | €32,622 | -€19,414 | -37.3% |
| Profit (loss) for the period to be appropriated | 9905 | €52,035 | €32,622 | -€19,414 | -37.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.