Luco 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.
Luco Management
Largest movements
- Cash +€120,389
up €120,389 (+99.2%), from €121,309 to €241,698
mainly Net result for the year (+€143,362) and Stocks and contracts (+€43,443)
- Stocks and contracts -€43,443
down €43,443 (-77.6%), from €55,966 to €12,523
of which Contracts in progress: -€45,688
- Receivables within one year -€15,475
down €15,475 (-4.6%), from €335,584 to €320,108
of which Trade receivables: -€68,559
- Reserves +€143,362
up €143,362 (+33.9%), from €422,615 to €565,977
- Short-term financial debts -€59,726
down €59,726 (-100%), from €59,726 to €0
- Debts after one year -€15,184
down €15,184 (-15.7%), from €96,619 to €81,435
- Trade debts -€10,155
down €10,155 (-35.3%), from €28,742 to €18,587
- Gross operating margin -€132,734
down €132,734 (-35.8%), from €370,703 to €237,969
- Write-downs -€47,193
down €47,193 (-93.1%), from €50,693 to €3,500
- Taxes -€26,025
down €26,025 (-27.6%), from €94,142 to €68,117
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 | €674,753 | €731,082 | +€56,330 | +8.3% |
| Fixed assets | 21/28 | €156,544 | €156,203 | -€340 | -0.2% |
| Tangible fixed assets | 22/27 | €156,544 | €156,203 | -€340 | -0.2% |
| Land and buildings | 22 | €152,060 | €152,565 | +€505 | +0.3% |
| Plant, machinery and equipment | 23 | €2,102 | €1,423 | -€679 | -32.3% |
| Furniture and vehicles | 24 | €2,381 | €2,215 | -€166 | -7.0% |
| Current assets | 29/58 | €518,209 | €574,879 | +€56,670 | +10.9% |
| Stocks and contracts in progress | 3 | €55,966 | €12,523 | -€43,443 | -77.6% |
| Stocks | 30/36 | €10,278 | €12,523 | +€2,245 | +21.8% |
| Contracts in progress | 37 | €45,688 | €0 | -€45,688 | -100% |
| Amounts receivable within one year | 40/41 | €335,584 | €320,108 | -€15,475 | -4.6% |
| Trade receivables | 40 | €129,779 | €61,221 | -€68,559 | -52.8% |
| Other amounts receivable | 41 | €205,805 | €258,888 | +€53,083 | +25.8% |
| Cash at bank and in hand | 54/58 | €121,309 | €241,698 | +€120,389 | +99.2% |
| Deferred charges and accrued income | 490/1 | €5,350 | €550 | -€4,800 | -89.7% |
| Total equity and liabilities | 10/49 | €674,753 | €731,082 | +€56,330 | +8.3% |
| Equity | 10/15 | €458,615 | €601,977 | +€143,362 | +31.3% |
| Contributions | 10/11 | €36,000 | €36,000 | = | 0.0% |
| Reserves | 13 | €422,615 | €565,977 | +€143,362 | +33.9% |
| Distributable reserves | 133 | €422,615 | €565,977 | +€143,362 | +33.9% |
| Amounts payable | 17/49 | €216,137 | €129,105 | -€87,032 | -40.3% |
| Amounts payable after more than one year | 17 | €96,619 | €81,435 | -€15,184 | -15.7% |
| Financial debts | 170/4 | €96,619 | €81,435 | -€15,184 | -15.7% |
| Amounts payable within one year | 42/48 | €119,518 | €47,670 | -€71,849 | -60.1% |
| Current portion of amounts payable after more than one year | 42 | €14,920 | €15,184 | +€264 | +1.8% |
| Financial debts | 43 | €59,726 | €0 | -€59,726 | -100% |
| Credit institutions | 430/8 | €59,726 | €0 | -€59,726 | -100% |
| Trade debts | 44 | €28,742 | €18,587 | -€10,155 | -35.3% |
| Suppliers | 440/4 | €28,742 | €18,587 | -€10,155 | -35.3% |
| Taxes, remuneration and social security | 45 | €12,481 | €13,213 | +€733 | +5.9% |
| Taxes | 450/3 | €12,481 | €10,713 | -€1,767 | -14.2% |
| Remuneration and social security | 454/9 | - | €2,500 | +€2,500 | |
| Other amounts payable | 47/48 | €3,650 | €686 | -€2,963 | -81.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,523 | €21,546 | +€2,023 | +10.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €50,693 | €3,500 | -€47,193 | -93.1% |
| Other operating charges | 640/8 | €3,737 | €3,744 | +€7 | +0.2% |
| Non-recurring operating charges | 66A | €3,780 | €0 | -€3,780 | -100% |
| Gross operating margin | 9900 | €370,703 | €237,969 | -€132,734 | -35.8% |
| Operating profit (loss) | 9901 | €292,971 | €209,179 | -€83,792 | -28.6% |
| Financial income | 75/76B | €2,206 | €5,716 | +€3,510 | +159% |
| Recurring financial income | 75 | €2,206 | €5,716 | +€3,510 | +159% |
| Financial charges | 65/66B | €4,052 | €3,416 | -€637 | -15.7% |
| Recurring financial charges | 65 | €4,052 | €3,416 | -€637 | -15.7% |
| Profit (loss) for the period before taxes | 9903 | €291,124 | €211,479 | -€79,645 | -27.4% |
| Income taxes | 67/77 | €94,142 | €68,117 | -€26,025 | -27.6% |
| Profit (loss) for the period | 9904 | €196,982 | €143,362 | -€53,620 | -27.2% |
| Profit (loss) for the period to be appropriated | 9905 | €196,982 | €143,362 | -€53,620 | -27.2% |
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 29 October 2026 via checked.be.