LUMARE: 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.
LUMARE
Largest movements
- Current investments +€219,157
new in 2025: €219,157
- Cash -€51,053
down €51,053 (-32.6%), from €156,405 to €105,352
mainly Current investments (-€219,157) and Other debts (-€42,156)
- Intangible fixed assets -€29,000
down €29,000 (-27.2%), from €106,625 to €77,625
- Deferred charges and accrued income +€16,430
up €16,430 (+133%), from €12,341 to €28,771
- Reserves +€183,973
up €183,973 (+90.7%), from €202,856 to €386,829
- Other debts -€42,156
down €42,156 (-49.1%), from €85,879 to €43,723
- Tax, wage and social debts +€15,524
up €15,524, from €0 to €15,524
of which Taxes: +€15,524
- Gross operating margin +€20,948
up €20,948 (+8.0%), from €262,482 to €283,430
- Taxes +€4,804
up €4,804 (+8.3%), from €58,092 to €62,896
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 | €297,173 | €452,102 | +€154,929 | +52.1% |
| Fixed assets | 21/28 | €119,556 | €89,124 | -€30,432 | -25.5% |
| Intangible fixed assets | 21 | €106,625 | €77,625 | -€29,000 | -27.2% |
| Tangible fixed assets | 22/27 | €12,932 | €11,499 | -€1,432 | -11.1% |
| Plant, machinery and equipment | 23 | €10,133 | €10,087 | -€46 | -0.5% |
| Furniture and vehicles | 24 | €2,799 | €1,412 | -€1,386 | -49.5% |
| Current assets | 29/58 | €177,617 | €362,979 | +€185,362 | +104% |
| Amounts receivable within one year | 40/41 | €8,871 | €9,699 | +€828 | +9.3% |
| Trade receivables | 40 | - | €800 | +€800 | |
| Other amounts receivable | 41 | €8,871 | €8,899 | +€28 | +0.3% |
| Current investments | 50/53 | - | €219,157 | +€219,157 | |
| Cash at bank and in hand | 54/58 | €156,405 | €105,352 | -€51,053 | -32.6% |
| Deferred charges and accrued income | 490/1 | €12,341 | €28,771 | +€16,430 | +133% |
| Total equity and liabilities | 10/49 | €297,173 | €452,102 | +€154,929 | +52.1% |
| Equity | 10/15 | €204,856 | €388,829 | +€183,973 | +89.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €202,856 | €386,829 | +€183,973 | +90.7% |
| Distributable reserves | 133 | €202,856 | €386,829 | +€183,973 | +90.7% |
| Amounts payable | 17/49 | €92,317 | €63,273 | -€29,043 | -31.5% |
| Amounts payable within one year | 42/48 | €92,317 | €63,273 | -€29,043 | -31.5% |
| Trade debts | 44 | €6,438 | €4,027 | -€2,411 | -37.5% |
| Suppliers | 440/4 | €6,438 | €4,027 | -€2,411 | -37.5% |
| Taxes, remuneration and social security | 45 | €0 | €15,524 | +€15,524 | |
| Taxes | 450/3 | €0 | €15,524 | +€15,524 | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €85,879 | €43,723 | -€42,156 | -49.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,223 | €34,815 | +€1,592 | +4.8% |
| Other operating charges | 640/8 | €565 | €528 | -€38 | -6.7% |
| Gross operating margin | 9900 | €262,482 | €283,430 | +€20,948 | +8.0% |
| Operating profit (loss) | 9901 | €228,693 | €248,087 | +€19,394 | +8.5% |
| Financial income | 75/76B | €1 | €0 | -€1 | -93.3% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -93.3% |
| Financial charges | 65/66B | €829 | €1,219 | +€390 | +47.1% |
| Recurring financial charges | 65 | €829 | €1,219 | +€390 | +47.1% |
| Profit (loss) for the period before taxes | 9903 | €227,865 | €246,868 | +€19,003 | +8.3% |
| Income taxes | 67/77 | €58,092 | €62,896 | +€4,804 | +8.3% |
| Profit (loss) for the period | 9904 | €169,773 | €183,973 | +€14,200 | +8.4% |
| Profit (loss) for the period to be appropriated | 9905 | €169,773 | €183,973 | +€14,200 | +8.4% |
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 18 October 2026 via checked.be.