LUCEO HVAC: 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.
LUCEO HVAC
Largest movements
- Cash +€490,566
up €490,566 (+109%), from €450,497 to €941,063
mainly Net result for the year (+€536,322) and Current investments (+€129,137)
- Current investments -€129,137
no longer reported in 2025 (was €129,137)
- Reserves +€536,200
up €536,200 (+57.6%), from €930,500 to €1.5m
of which Distributable reserves: +€1.5m
- Debts after one year -€144,327
down €144,327 (-33.2%), from €434,369 to €290,042
- Trade debts -€36,077
down €36,077 (-95.8%), from €37,644 to €1,568
- Financial income +€37,270
up €37,270 (+6.8%), from €548,615 to €585,885
- Staff costs +€6,008
new in 2025: €6,008
- Depreciation -€6,008
no longer reported in 2025 (was €6,008)
- Gross operating margin -€5,113
down €5,113 (-19.6%), from €26,101 to €20,988
- Taxes +€1,954
up €1,954 (+3.4%), from €56,938 to €58,892
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.
Derived cash bridge
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 | €2,690,151 | €3,045,572 | +€355,421 | +13.2% |
| Fixed assets | 21/28 | €2,110,517 | €2,104,509 | -€6,008 | -0.3% |
| Tangible fixed assets | 22/27 | €12,197 | €6,189 | -€6,008 | -49.3% |
| Furniture and vehicles | 24 | €12,197 | €6,189 | -€6,008 | -49.3% |
| Financial fixed assets | 28 | €2,098,320 | €2,098,320 | = | 0.0% |
| Current assets | 29/58 | €579,634 | €941,063 | +€361,429 | +62.4% |
| Current investments | 50/53 | €129,137 | - | -€129,137 | |
| Cash at bank and in hand | 54/58 | €450,497 | €941,063 | +€490,566 | +109% |
| Total equity and liabilities | 10/49 | €2,690,151 | €3,045,572 | +€355,421 | +13.2% |
| Equity | 10/15 | €2,000,633 | €2,536,955 | +€536,322 | +26.8% |
| Contributions | 10/11 | €787,920 | €787,920 | = | 0.0% |
| Contributions outside capital | 11 | €787,920 | - | -€787,920 | |
| Share premium | 1100/10 | €787,920 | - | -€787,920 | |
| Reserves | 13 | €930,500 | €1,466,700 | +€536,200 | +57.6% |
| Non-distributable reserves | 130/1 | €930,500 | - | -€930,500 | |
| Legal reserve | 130 | €930,500 | - | -€930,500 | |
| Distributable reserves | 133 | - | €1,466,700 | +€1.5m | |
| Profit (loss) carried forward | 14 | €282,213 | €282,335 | +€122 | 0.0% |
| Amounts payable | 17/49 | €689,518 | €508,617 | -€180,901 | -26.2% |
| Amounts payable after more than one year | 17 | €434,369 | €290,042 | -€144,327 | -33.2% |
| Financial debts | 170/4 | €434,369 | €290,042 | -€144,327 | -33.2% |
| Amounts payable within one year | 42/48 | €255,149 | €218,575 | -€36,574 | -14.3% |
| Current portion of amounts payable after more than one year | 42 | €150,186 | €144,327 | -€5,860 | -3.9% |
| Trade debts | 44 | €37,644 | €1,568 | -€36,077 | -95.8% |
| Suppliers | 440/4 | €37,644 | €1,568 | -€36,077 | -95.8% |
| Taxes, remuneration and social security | 45 | €63,524 | €65,762 | +€2,238 | +3.5% |
| Taxes | 450/3 | €63,524 | €65,762 | +€2,238 | +3.5% |
| Other amounts payable | 47/48 | €3,794 | €6,918 | +€3,124 | +82.3% |
| Remuneration, social security and pensions | 62 | - | €6,008 | +€6,008 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,008 | - | -€6,008 | |
| Other operating charges | 640/8 | €860 | €823 | -€37 | -4.3% |
| Gross operating margin | 9900 | €26,101 | €20,988 | -€5,113 | -19.6% |
| Operating profit (loss) | 9901 | €19,232 | €14,157 | -€5,076 | -26.4% |
| Financial income | 75/76B | €548,615 | €585,885 | +€37,270 | +6.8% |
| Recurring financial income | 75 | €548,615 | €585,885 | +€37,270 | +6.8% |
| Financial charges | 65/66B | €6,117 | €4,828 | -€1,289 | -21.1% |
| Recurring financial charges | 65 | €6,117 | €4,828 | -€1,289 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | €561,731 | €595,214 | +€33,483 | +6.0% |
| Income taxes | 67/77 | €56,938 | €58,892 | +€1,954 | +3.4% |
| Profit (loss) for the period | 9904 | €504,792 | €536,322 | +€31,530 | +6.2% |
| Profit (loss) for the period to be appropriated | 9905 | €504,792 | €536,322 | +€31,530 | +6.2% |
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 14 October 2026 via checked.be.