LUMA: what changed
Two fiscal 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.
LUMA
Largest movements
- Tangible fixed assets -€85,948
down €85,948 (-10.9%), from €788,045 to €702,097
of which Land and buildings: -€91,086
- Cash +€77,039
up €77,039 (+128.5%), from €59,967 to €137,005
mainly Depreciation (+€85,948) and Other debts (+€42,538)
- Reserves -€55,120
down €55,120 (-12.3%), from €449,168 to €394,048
- Other debts +€42,538
new in 2025: €42,538
- Gross operating margin +€26,600
up €26,600 (+28.2%), from €94,252 to €120,852
- Depreciation +€20,315
up €20,315 (+31.0%), from €65,633 to €85,948
- Financial income -€1,866
down €1,866 (-98.1%), from €1,903 to €37
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 | €862,407 | €849,464 | -€12,943 | -1.5% |
| Fixed assets | 21/28 | €788,045 | €702,097 | -€85,948 | -10.9% |
| Tangible fixed assets | 22/27 | €788,045 | €702,097 | -€85,948 | -10.9% |
| Land and buildings | 22 | €788,045 | €696,960 | -€91,086 | -11.6% |
| Furniture and vehicles | 24 | - | €5,138 | +€5,138 | |
| Current assets | 29/58 | €74,362 | €147,367 | +€73,005 | +98.2% |
| Amounts receivable within one year | 40/41 | €7,895 | €5,701 | -€2,194 | -27.8% |
| Other amounts receivable | 41 | €7,895 | €5,701 | -€2,194 | -27.8% |
| Cash at bank and in hand | 54/58 | €59,967 | €137,005 | +€77,039 | +128.5% |
| Deferred charges and accrued income | 490/1 | €6,500 | €4,661 | -€1,839 | -28.3% |
| Total equity and liabilities | 10/49 | €862,407 | €849,464 | -€12,943 | -1.5% |
| Equity | 10/15 | €860,231 | €805,112 | -€55,120 | -6.4% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €449,168 | €394,048 | -€55,120 | -12.3% |
| Distributable reserves | 133 | €449,168 | €394,048 | -€55,120 | -12.3% |
| Profit (loss) carried forward | 14 | €11,063 | €11,063 | = | 0.0% |
| Amounts payable | 17/49 | €2,176 | €44,353 | +€42,177 | +1938.2% |
| Amounts payable within one year | 42/48 | €1,815 | €44,353 | +€42,538 | +2343.7% |
| Advances received on contracts in progress | 46 | €1,815 | €1,815 | = | 0.0% |
| Other amounts payable | 47/48 | - | €42,538 | +€42,538 | |
| Accrued charges and deferred income | 492/3 | €361 | €0 | -€361 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,633 | €85,948 | +€20,315 | +31.0% |
| Other operating charges | 640/8 | €17,433 | €18,155 | +€722 | +4.1% |
| Gross operating margin | 9900 | €94,252 | €120,852 | +€26,600 | +28.2% |
| Operating profit (loss) | 9901 | €11,186 | €16,749 | +€5,563 | +49.7% |
| Financial income | 75/76B | €1,903 | €37 | -€1,866 | -98.1% |
| Recurring financial income | 75 | €1,903 | €37 | -€1,866 | -98.1% |
| Financial charges | 65/66B | €295 | €300 | +€5 | +1.7% |
| Recurring financial charges | 65 | €295 | €300 | +€5 | +1.7% |
| Profit (loss) for the period before taxes | 9903 | €12,794 | €16,486 | +€3,692 | +28.9% |
| Income taxes | 67/77 | €4,675 | €4,324 | -€351 | -7.5% |
| Profit (loss) for the period | 9904 | €8,118 | €12,161 | +€4,043 | +49.8% |
| Profit (loss) for the period to be appropriated | 9905 | €8,118 | €12,161 | +€4,043 | +49.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.