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
- Current investments -€369,187
down €369,187 (-18.1%), from €2.0m to €1.7m
- Tangible fixed assets +€235,995
up €235,995 (+52.3%), from €451,076 to €687,071
- Cash +€46,320
up €46,320 (+107.1%), from €43,243 to €89,562
mainly Current investments (+€369,187) and Net result for the year (+€138,502)
- Deferred charges and accrued income +€29,502
up €29,502 (+4552.5%), from €648 to €30,150
- Other debts -€200,754
down €200,754 (-78.5%), from €255,719 to €54,965
- Reserves +€138,502
up €138,502 (+6.8%), from €2.0m to €2.2m
of which Distributable reserves: +€138,502
- Tax, wage and social debts -€33,440
down €33,440 (-81.1%), from €41,250 to €7,811
- Gross operating margin +€30,211
up €30,211 (+20.4%), from €147,998 to €178,209
- Financial income +€9,258
up €9,258 (+65.2%), from €14,200 to €23,458
- Other operating charges -€5,735
down €5,735 (-34.8%), from €16,490 to €10,755
- Depreciation +€3,687
up €3,687 (+65.7%), from €5,609 to €9,296
- Taxes -€2,409
down €2,409 (-5.6%), from €43,212 to €40,803
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 | €2,570,664 | €2,490,462 | -€80,202 | -3.1% |
| Fixed assets | 21/28 | €451,533 | €687,071 | +€235,538 | +52.2% |
| Tangible fixed assets | 22/27 | €451,076 | €687,071 | +€235,995 | +52.3% |
| Land and buildings | 22 | €451,076 | €687,071 | +€235,995 | +52.3% |
| Financial fixed assets | 28 | €457 | - | -€457 | |
| Current assets | 29/58 | €2,119,131 | €1,803,391 | -€315,740 | -14.9% |
| Amounts receivable within one year | 40/41 | €30,353 | €7,978 | -€22,374 | -73.7% |
| Trade receivables | 40 | €30,353 | €7,978 | -€22,374 | -73.7% |
| Current investments | 50/53 | €2,044,888 | €1,675,700 | -€369,187 | -18.1% |
| Cash at bank and in hand | 54/58 | €43,243 | €89,562 | +€46,320 | +107.1% |
| Deferred charges and accrued income | 490/1 | €648 | €30,150 | +€29,502 | +4552.5% |
| Total equity and liabilities | 10/49 | €2,570,664 | €2,490,462 | -€80,202 | -3.1% |
| Equity | 10/15 | €2,270,949 | €2,409,452 | +€138,502 | +6.1% |
| Contributions | 10/11 | €232,000 | €232,000 | = | 0.0% |
| Capital | 10 | €232,000 | €232,000 | = | 0.0% |
| Issued capital | 100 | €232,000 | €232,000 | = | 0.0% |
| Reserves | 13 | €2,038,949 | €2,177,452 | +€138,502 | +6.8% |
| Non-distributable reserves | 130/1 | €99,300 | €99,300 | = | 0.0% |
| Legal reserve | 130 | €99,300 | €99,300 | = | 0.0% |
| Distributable reserves | 133 | €1,939,649 | €2,078,152 | +€138,502 | +7.1% |
| Amounts payable | 17/49 | €299,715 | €81,010 | -€218,705 | -73.0% |
| Amounts payable within one year | 42/48 | €299,715 | €81,010 | -€218,705 | -73.0% |
| Trade debts | 44 | €2,745 | €18,234 | +€15,489 | +564.2% |
| Suppliers | 440/4 | €2,745 | €18,234 | +€15,489 | +564.2% |
| Taxes, remuneration and social security | 45 | €41,250 | €7,811 | -€33,440 | -81.1% |
| Taxes | 450/3 | €41,250 | €7,811 | -€33,440 | -81.1% |
| Other amounts payable | 47/48 | €255,719 | €54,965 | -€200,754 | -78.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,609 | €9,296 | +€3,687 | +65.7% |
| Other operating charges | 640/8 | €16,490 | €10,755 | -€5,735 | -34.8% |
| Gross operating margin | 9900 | €147,998 | €178,209 | +€30,211 | +20.4% |
| Operating profit (loss) | 9901 | €125,899 | €158,158 | +€32,260 | +25.6% |
| Financial income | 75/76B | €14,200 | €23,458 | +€9,258 | +65.2% |
| Recurring financial income | 75 | €14,200 | €23,458 | +€9,258 | +65.2% |
| Financial charges | 65/66B | €2,371 | €2,311 | -€60 | -2.5% |
| Recurring financial charges | 65 | €2,371 | €2,311 | -€60 | -2.5% |
| Profit (loss) for the period before taxes | 9903 | €137,727 | €179,305 | +€41,578 | +30.2% |
| Income taxes | 67/77 | €43,212 | €40,803 | -€2,409 | -5.6% |
| Profit (loss) for the period | 9904 | €94,515 | €138,502 | +€43,987 | +46.5% |
| Profit (loss) for the period to be appropriated | 9905 | €94,515 | €138,502 | +€43,987 | +46.5% |
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.