LUISA: 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.
LUISA
Largest movements
- Receivables within one year -€205,812
down €205,812 (-43.7%), from €470,734 to €264,922
of which Trade receivables: -€163,791
- Cash +€111,173
up €111,173 (+122.4%), from €90,854 to €202,027
mainly Receivables within one year (+€205,812) and Depreciation (+€34,396)
- Tangible fixed assets +€62,505
up €62,505 (+58.1%), from €107,591 to €170,096
of which Other tangible fixed assets: +€42,010
- Deferred charges and accrued income -€11,019
down €11,019 (-31.4%), from €35,047 to €24,028
- Trade debts -€99,749
down €99,749 (-50.9%), from €196,039 to €96,290
- Reserves +€27,709
up €27,709 (+4.5%), from €621,135 to €648,844
- Staff costs -€83,600
down €83,600 (-18.2%), from €458,177 to €374,577
- Gross operating margin -€72,508
down €72,508 (-16.2%), from €448,804 to €376,296
- Write-downs +€15,967
up €15,967, from -€529 to €15,438
- Other operating charges +€4,993
up €4,993 (+191.2%), from €2,611 to €7,604
- Taxes -€4,786
down €4,786 (-25.0%), from €19,126 to €14,340
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 | €920,813 | €864,978 | -€55,835 | -6.1% |
| Fixed assets | 21/28 | €117,817 | €174,084 | +€56,267 | +47.8% |
| Intangible fixed assets | 21 | €9,966 | €3,728 | -€6,238 | -62.6% |
| Tangible fixed assets | 22/27 | €107,591 | €170,096 | +€62,505 | +58.1% |
| Furniture and vehicles | 24 | €57,666 | €78,161 | +€20,495 | +35.5% |
| Other tangible fixed assets | 26 | €49,925 | €91,935 | +€42,010 | +84.1% |
| Financial fixed assets | 28 | €260 | €260 | -€0 | 0.0% |
| Current assets | 29/58 | €802,996 | €690,894 | -€112,102 | -14.0% |
| Stocks and contracts in progress | 3 | €206,361 | €199,917 | -€6,444 | -3.1% |
| Stocks | 30/36 | €206,361 | €199,917 | -€6,444 | -3.1% |
| Amounts receivable within one year | 40/41 | €470,734 | €264,922 | -€205,812 | -43.7% |
| Trade receivables | 40 | €428,713 | €264,922 | -€163,791 | -38.2% |
| Other amounts receivable | 41 | €42,021 | - | -€42,021 | |
| Cash at bank and in hand | 54/58 | €90,854 | €202,027 | +€111,173 | +122.4% |
| Deferred charges and accrued income | 490/1 | €35,047 | €24,028 | -€11,019 | -31.4% |
| Total equity and liabilities | 10/49 | €920,813 | €864,978 | -€55,835 | -6.1% |
| Equity | 10/15 | €652,135 | €679,844 | +€27,709 | +4.2% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €621,135 | €648,844 | +€27,709 | +4.5% |
| Distributable reserves | 133 | €621,135 | €648,844 | +€27,709 | +4.5% |
| Amounts payable | 17/49 | €268,678 | €185,134 | -€83,544 | -31.1% |
| Amounts payable after more than one year | 17 | - | €7,631 | +€7,631 | |
| Financial debts | 170/4 | - | €7,631 | +€7,631 | |
| Amounts payable within one year | 42/48 | €267,861 | €171,496 | -€96,365 | -36.0% |
| Current portion of amounts payable after more than one year | 42 | €9,258 | €8,066 | -€1,192 | -12.9% |
| Trade debts | 44 | €196,039 | €96,290 | -€99,749 | -50.9% |
| Suppliers | 440/4 | €196,039 | €96,290 | -€99,749 | -50.9% |
| Taxes, remuneration and social security | 45 | €62,564 | €67,141 | +€4,577 | +7.3% |
| Taxes | 450/3 | €19,126 | €33,396 | +€14,270 | +74.6% |
| Remuneration and social security | 454/9 | €43,438 | €33,745 | -€9,693 | -22.3% |
| Accrued charges and deferred income | 492/3 | €817 | €6,007 | +€5,190 | +635.2% |
| Non-recurring operating income | 76A | - | €5,714 | +€5,714 | |
| Remuneration, social security and pensions | 62 | €458,177 | €374,577 | -€83,600 | -18.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,743 | €34,396 | -€4,347 | -11.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€529 | €15,438 | +€15,967 | |
| Other operating charges | 640/8 | €2,611 | €7,604 | +€4,993 | +191.2% |
| Non-recurring operating charges | 66A | €4,171 | €4,236 | +€65 | +1.6% |
| Gross operating margin | 9900 | €448,804 | €376,296 | -€72,508 | -16.2% |
| Operating profit (loss) | 9901 | -€54,369 | -€59,956 | -€5,587 | -10.3% |
| Financial income | 75/76B | €109,455 | €106,470 | -€2,985 | -2.7% |
| Recurring financial income | 75 | €109,455 | €106,470 | -€2,985 | -2.7% |
| Financial charges | 65/66B | €4,944 | €4,466 | -€478 | -9.7% |
| Recurring financial charges | 65 | €4,944 | €4,466 | -€478 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €50,142 | €42,048 | -€8,094 | -16.1% |
| Income taxes | 67/77 | €19,126 | €14,340 | -€4,786 | -25.0% |
| Profit (loss) for the period | 9904 | €31,016 | €27,708 | -€3,308 | -10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €31,016 | €27,708 | -€3,308 | -10.7% |
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 12 October 2026 via checked.be.