LUMINAS: 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.
LUMINAS
Largest movements
- Stocks and contracts -€488,199
down €488,199 (-14.4%), from €3.4m to €2.9m
- Trade debts -€467,776
down €467,776 (-17.2%), from €2.7m to €2.3m
- Staff costs -€12,932
down €12,932 (-50.1%), from €25,815 to €12,884
- Gross operating margin -€12,039
down €12,039 (-19.5%), from €61,696 to €49,657
- Taxes +€6,050
up €6,050 (+85.9%), from €7,047 to €13,098
- Depreciation -€3,775
down €3,775 (-70.3%), from €5,366 to €1,591
- Financial charges -€1,253
down €1,253 (-10.6%), from €11,781 to €10,528
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 | €5,589,449 | €5,148,184 | -€441,265 | -7.9% |
| Fixed assets | 21/28 | €15,179 | €13,588 | -€1,591 | -10.5% |
| Tangible fixed assets | 22/27 | €12,079 | €10,487 | -€1,591 | -13.2% |
| Furniture and vehicles | 24 | €12,079 | €10,487 | -€1,591 | -13.2% |
| Financial fixed assets | 28 | €3,100 | €3,100 | = | 0.0% |
| Current assets | 29/58 | €5,574,270 | €5,134,596 | -€439,674 | -7.9% |
| Stocks and contracts in progress | 3 | €3,402,073 | €2,913,874 | -€488,199 | -14.4% |
| Stocks | 30/36 | €3,402,073 | €2,913,874 | -€488,199 | -14.4% |
| Amounts receivable within one year | 40/41 | €1,935,476 | €1,974,209 | +€38,733 | +2.0% |
| Trade receivables | 40 | €1,910,304 | €1,948,384 | +€38,080 | +2.0% |
| Other amounts receivable | 41 | €25,172 | €25,825 | +€653 | +2.6% |
| Cash at bank and in hand | 54/58 | €235,994 | €246,072 | +€10,078 | +4.3% |
| Deferred charges and accrued income | 490/1 | €726 | €440 | -€286 | -39.4% |
| Total equity and liabilities | 10/49 | €5,589,449 | €5,148,184 | -€441,265 | -7.9% |
| Equity | 10/15 | €1,292,570 | €1,303,430 | +€10,860 | +0.8% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €719,530 | €719,530 | = | 0.0% |
| Distributable reserves | 133 | €719,530 | €719,530 | = | 0.0% |
| Profit (loss) carried forward | 14 | €173,040 | €183,900 | +€10,860 | +6.3% |
| Amounts payable | 17/49 | €4,296,879 | €3,844,754 | -€452,125 | -10.5% |
| Amounts payable within one year | 42/48 | €4,296,879 | €3,844,754 | -€452,125 | -10.5% |
| Trade debts | 44 | €2,725,238 | €2,257,463 | -€467,776 | -17.2% |
| Suppliers | 440/4 | €2,725,238 | €2,257,463 | -€467,776 | -17.2% |
| Taxes, remuneration and social security | 45 | €3,876 | €10,951 | +€7,075 | +183% |
| Taxes | 450/3 | €255 | €8,639 | +€8,384 | +3,289% |
| Remuneration and social security | 454/9 | €3,621 | €2,312 | -€1,309 | -36.2% |
| Other amounts payable | 47/48 | €1,567,765 | €1,576,341 | +€8,576 | +0.5% |
| Remuneration, social security and pensions | 62 | €25,815 | €12,884 | -€12,932 | -50.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,366 | €1,591 | -€3,775 | -70.3% |
| Other operating charges | 640/8 | €1,662 | €1,834 | +€172 | +10.3% |
| Gross operating margin | 9900 | €61,696 | €49,657 | -€12,039 | -19.5% |
| Operating profit (loss) | 9901 | €28,852 | €33,348 | +€4,496 | +15.6% |
| Financial income | 75/76B | €1,167 | €1,138 | -€29 | -2.5% |
| Recurring financial income | 75 | €1,167 | €1,138 | -€29 | -2.5% |
| Financial charges | 65/66B | €11,781 | €10,528 | -€1,253 | -10.6% |
| Recurring financial charges | 65 | €11,781 | €10,528 | -€1,253 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €18,238 | €23,958 | +€5,720 | +31.4% |
| Income taxes | 67/77 | €7,047 | €13,098 | +€6,050 | +85.9% |
| Profit (loss) for the period | 9904 | €11,191 | €10,860 | -€331 | -3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €11,191 | €10,860 | -€331 | -3.0% |
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 16 October 2026 via checked.be.