LUISSAN: 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.
LUISSAN
Largest movements
- Current investments +€377,646
up €377,646 (+258%), from €146,454 to €524,100
- Cash -€279,262
down €279,262 (-72.6%), from €384,704 to €105,442
mainly Current investments (-€377,646) and Tax, wage and social debts (-€14,623)
- Receivables within one year -€22,156
down €22,156 (-49.3%), from €44,935 to €22,779
of which Trade receivables: -€29,516
- Tangible fixed assets -€7,056
down €7,056 (-87.5%), from €8,061 to €1,005
- Reserves +€83,441
up €83,441 (+15.2%), from €547,230 to €630,671
- Tax, wage and social debts -€14,623
down €14,623 (-68.2%), from €21,434 to €6,812
- Gross operating margin -€23,928
down €23,928 (-17.2%), from €139,248 to €115,320
- Taxes -€6,051
down €6,051 (-16.1%), from €37,637 to €31,586
- Financial income +€4,164
up €4,164 (+1,388%), from €300 to €4,464
- Depreciation -€1,553
down €1,553 (-18.0%), from €8,610 to €7,057
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 | €588,500 | €656,451 | +€67,951 | +11.5% |
| Fixed assets | 21/28 | €8,086 | €1,030 | -€7,056 | -87.3% |
| Tangible fixed assets | 22/27 | €8,061 | €1,005 | -€7,056 | -87.5% |
| Furniture and vehicles | 24 | €8,061 | €1,005 | -€7,056 | -87.5% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €580,414 | €655,421 | +€75,007 | +12.9% |
| Amounts receivable within one year | 40/41 | €44,935 | €22,779 | -€22,156 | -49.3% |
| Trade receivables | 40 | €37,814 | €8,298 | -€29,516 | -78.1% |
| Other amounts receivable | 41 | €7,121 | €14,481 | +€7,360 | +103% |
| Current investments | 50/53 | €146,454 | €524,100 | +€377,646 | +258% |
| Cash at bank and in hand | 54/58 | €384,704 | €105,442 | -€279,262 | -72.6% |
| Deferred charges and accrued income | 490/1 | €4,321 | €3,101 | -€1,220 | -28.2% |
| Total equity and liabilities | 10/49 | €588,500 | €656,451 | +€67,951 | +11.5% |
| Equity | 10/15 | €565,830 | €649,271 | +€83,441 | +14.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €547,230 | €630,671 | +€83,441 | +15.2% |
| Distributable reserves | 133 | €547,230 | €630,671 | +€83,441 | +15.2% |
| Amounts payable | 17/49 | €22,670 | €7,180 | -€15,490 | -68.3% |
| Amounts payable within one year | 42/48 | €22,670 | €7,180 | -€15,490 | -68.3% |
| Trade debts | 44 | €11 | €74 | +€63 | +575% |
| Suppliers | 440/4 | €11 | €74 | +€63 | +575% |
| Taxes, remuneration and social security | 45 | €21,434 | €6,812 | -€14,623 | -68.2% |
| Taxes | 450/3 | €21,434 | €6,812 | -€14,623 | -68.2% |
| Other amounts payable | 47/48 | €1,225 | €294 | -€931 | -76.0% |
| Non-recurring operating income | 76A | €1,157 | €826 | -€331 | -28.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,610 | €7,057 | -€1,553 | -18.0% |
| Other operating charges | 640/8 | €657 | €400 | -€257 | -39.2% |
| Gross operating margin | 9900 | €139,248 | €115,320 | -€23,928 | -17.2% |
| Operating profit (loss) | 9901 | €129,981 | €107,863 | -€22,118 | -17.0% |
| Financial income | 75/76B | €300 | €4,464 | +€4,164 | +1,388% |
| Recurring financial income | 75 | €300 | €4,464 | +€4,164 | +1,388% |
| Financial charges | 65/66B | -€4,031 | -€2,700 | +€1,331 | +33.0% |
| Recurring financial charges | 65 | -€4,031 | -€2,700 | +€1,331 | +33.0% |
| Profit (loss) for the period before taxes | 9903 | €134,312 | €115,027 | -€19,285 | -14.4% |
| Income taxes | 67/77 | €37,637 | €31,586 | -€6,051 | -16.1% |
| Profit (loss) for the period | 9904 | €96,675 | €83,441 | -€13,234 | -13.7% |
| Profit (loss) for the period to be appropriated | 9905 | €96,675 | €83,441 | -€13,234 | -13.7% |
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 20 October 2026 via checked.be.