LUMAX: 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.
LUMAX
Largest movements
- Financial fixed assets -€110,001
no longer reported in 2025 (was €110,001)
- Receivables after one year +€30,000
up €30,000 (+23.4%), from €127,978 to €157,978
- Cash +€19,181
up €19,181 (+14,550%), from €132 to €19,313
mainly Investment in fixed assets (net) (+€105,867) and Debts after one year (+€21,329)
- Tangible fixed assets -€6,245
down €6,245 (-3.2%), from €192,692 to €186,447
- Profit (loss) carried forward -€108,714
down €108,714 (-195%), from -€55,764 to -€164,478
- Debts after one year +€21,329
up €21,329 (+13.1%), from €162,528 to €183,857
of which Other amounts payable: +€30,000
- Other debts +€15,510
up €15,510 (+43.5%), from €35,677 to €51,186
- Financial charges +€109,745
up €109,745 (+3,898%), from €2,815 to €112,560
- Gross operating margin +€11,399
up €11,399 (+748%), from €1,524 to €12,923
- Staff costs -€8,696
no longer reported in 2025 (was €8,696)
- Financial income +€493
up €493 (+17.8%), from €2,777 to €3,271
- Depreciation +€233
up €233 (+2.3%), from €10,146 to €10,379
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 | €474,854 | €406,402 | -€68,452 | -14.4% |
| Fixed assets | 21/28 | €302,693 | €186,447 | -€116,246 | -38.4% |
| Tangible fixed assets | 22/27 | €192,692 | €186,447 | -€6,245 | -3.2% |
| Land and buildings | 22 | €192,692 | €186,447 | -€6,245 | -3.2% |
| Financial fixed assets | 28 | €110,001 | - | -€110,001 | |
| Current assets | 29/58 | €172,161 | €219,955 | +€47,794 | +27.8% |
| Amounts receivable after more than one year | 29 | €127,978 | €157,978 | +€30,000 | +23.4% |
| Other amounts receivable | 291 | €127,978 | €157,978 | +€30,000 | +23.4% |
| Amounts receivable within one year | 40/41 | €11,678 | €10,747 | -€932 | -8.0% |
| Trade receivables | 40 | €10,490 | €10,747 | +€257 | +2.4% |
| Other amounts receivable | 41 | €1,189 | - | -€1,189 | |
| Cash at bank and in hand | 54/58 | €132 | €19,313 | +€19,181 | +14,550% |
| Deferred charges and accrued income | 490/1 | €32,372 | €31,917 | -€456 | -1.4% |
| Total equity and liabilities | 10/49 | €474,854 | €406,402 | -€68,452 | -14.4% |
| Equity | 10/15 | €267,542 | €158,828 | -€108,714 | -40.6% |
| Contributions | 10/11 | €318,600 | €318,600 | = | 0.0% |
| Revaluation surpluses | 12 | €4,707 | €4,707 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€55,764 | -€164,478 | -€108,714 | -195% |
| Amounts payable | 17/49 | €207,312 | €247,573 | +€40,262 | +19.4% |
| Amounts payable after more than one year | 17 | €162,528 | €183,857 | +€21,329 | +13.1% |
| Financial debts | 170/4 | €42,528 | €33,857 | -€8,671 | -20.4% |
| Other amounts payable | 178/9 | €120,000 | €150,000 | +€30,000 | +25.0% |
| Amounts payable within one year | 42/48 | €44,784 | €62,697 | +€17,913 | +40.0% |
| Current portion of amounts payable after more than one year | 42 | €8,264 | €8,671 | +€407 | +4.9% |
| Trade debts | 44 | €296 | €1,062 | +€766 | +259% |
| Suppliers | 440/4 | €296 | €1,062 | +€766 | +259% |
| Taxes, remuneration and social security | 45 | €547 | €1,777 | +€1,230 | +225% |
| Taxes | 450/3 | - | €1,777 | +€1,777 | |
| Remuneration and social security | 454/9 | €547 | - | -€547 | |
| Other amounts payable | 47/48 | €35,677 | €51,186 | +€15,510 | +43.5% |
| Accrued charges and deferred income | 492/3 | - | €1,020 | +€1,020 | |
| Remuneration, social security and pensions | 62 | €8,696 | - | -€8,696 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,146 | €10,379 | +€233 | +2.3% |
| Other operating charges | 640/8 | €1,747 | €1,968 | +€221 | +12.7% |
| Gross operating margin | 9900 | €1,524 | €12,923 | +€11,399 | +748% |
| Operating profit (loss) | 9901 | -€19,065 | €576 | +€19,640 | |
| Financial income | 75/76B | €2,777 | €3,271 | +€493 | +17.8% |
| Recurring financial income | 75 | €2,777 | €3,271 | +€493 | +17.8% |
| Financial charges | 65/66B | €2,815 | €112,560 | +€109,745 | +3,898% |
| Recurring financial charges | 65 | €2,815 | €112,560 | +€109,745 | +3,898% |
| Profit (loss) for the period before taxes | 9903 | -€19,102 | -€108,714 | -€89,612 | -469% |
| Income taxes | 67/77 | €1 | - | -€1 | |
| Profit (loss) for the period | 9904 | -€19,104 | -€108,714 | -€89,610 | -469% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,104 | -€108,714 | -€89,610 | -469% |
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 15 October 2026 via checked.be.