LUMINELLO: 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.
LUMINELLO
Largest movements
- Tangible fixed assets -€28,660
down €28,660 (-7.5%), from €381,146 to €352,486
of which Land and buildings: -€20,029
- Stocks and contracts +€10,014
up €10,014 (+18.5%), from €54,136 to €64,150
- Cash -€9,951
down €9,951 (-18.0%), from €55,294 to €45,343
mainly Debts after one year (-€23,955) and Stocks and contracts (-€10,014)
- Debts after one year -€23,955
down €23,955 (-7.3%), from €328,202 to €304,247
- Gross operating margin +€5,281
up €5,281 (+13.9%), from €37,945 to €43,225
- Depreciation -€4,726
down €4,726 (-13.7%), from €34,493 to €29,767
- Taxes +€2,905
up €2,905, from -€1,645 to €1,260
- Financial charges -€1,472
down €1,472 (-13.2%), from €11,185 to €9,713
- Financial income +€1,367
up €1,367 (+312%), from €439 to €1,806
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 | €495,429 | €468,057 | -€27,372 | -5.5% |
| Fixed assets | 21/28 | €381,478 | €352,748 | -€28,731 | -7.5% |
| Intangible fixed assets | 21 | €282 | €212 | -€71 | -25.0% |
| Tangible fixed assets | 22/27 | €381,146 | €352,486 | -€28,660 | -7.5% |
| Land and buildings | 22 | €360,747 | €340,719 | -€20,029 | -5.6% |
| Plant, machinery and equipment | 23 | €7,462 | €5,181 | -€2,281 | -30.6% |
| Furniture and vehicles | 24 | €7,649 | €2,271 | -€5,379 | -70.3% |
| Other tangible fixed assets | 26 | €5,288 | €4,316 | -€972 | -18.4% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €113,951 | €115,310 | +€1,359 | +1.2% |
| Stocks and contracts in progress | 3 | €54,136 | €64,150 | +€10,014 | +18.5% |
| Stocks | 30/36 | €54,136 | €64,150 | +€10,014 | +18.5% |
| Amounts receivable within one year | 40/41 | €921 | €3,238 | +€2,317 | +252% |
| Trade receivables | 40 | €624 | €2,759 | +€2,135 | +342% |
| Other amounts receivable | 41 | €297 | €479 | +€182 | +61.3% |
| Cash at bank and in hand | 54/58 | €55,294 | €45,343 | -€9,951 | -18.0% |
| Deferred charges and accrued income | 490/1 | €3,600 | €2,579 | -€1,021 | -28.4% |
| Total equity and liabilities | 10/49 | €495,429 | €468,057 | -€27,372 | -5.5% |
| Equity | 10/15 | €118,763 | €121,437 | +€2,674 | +2.3% |
| Contributions | 10/11 | €6,800 | €6,800 | = | 0.0% |
| Reserves | 13 | €111,963 | €114,637 | +€2,674 | +2.4% |
| Distributable reserves | 133 | €111,963 | €114,637 | +€2,674 | +2.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €376,666 | €346,620 | -€30,045 | -8.0% |
| Amounts payable after more than one year | 17 | €328,202 | €304,247 | -€23,955 | -7.3% |
| Financial debts | 170/4 | €328,202 | €304,247 | -€23,955 | -7.3% |
| Amounts payable within one year | 42/48 | €48,463 | €42,373 | -€6,090 | -12.6% |
| Current portion of amounts payable after more than one year | 42 | €25,733 | €23,955 | -€1,777 | -6.9% |
| Trade debts | 44 | €9,427 | €6,374 | -€3,053 | -32.4% |
| Suppliers | 440/4 | €9,427 | €6,374 | -€3,053 | -32.4% |
| Taxes, remuneration and social security | 45 | €9,591 | €8,920 | -€671 | -7.0% |
| Taxes | 450/3 | €9,591 | €8,885 | -€706 | -7.4% |
| Remuneration and social security | 454/9 | - | €36 | +€36 | |
| Other amounts payable | 47/48 | €3,712 | €3,123 | -€589 | -15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,493 | €29,767 | -€4,726 | -13.7% |
| Other operating charges | 640/8 | €1,426 | €1,617 | +€192 | +13.5% |
| Gross operating margin | 9900 | €37,945 | €43,225 | +€5,281 | +13.9% |
| Operating profit (loss) | 9901 | €2,026 | €11,841 | +€9,815 | +484% |
| Financial income | 75/76B | €439 | €1,806 | +€1,367 | +312% |
| Recurring financial income | 75 | €439 | €1,806 | +€1,367 | +312% |
| Financial charges | 65/66B | €11,185 | €9,713 | -€1,472 | -13.2% |
| Recurring financial charges | 65 | €11,185 | €9,713 | -€1,472 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | -€8,720 | €3,934 | +€12,654 | |
| Income taxes | 67/77 | -€1,645 | €1,260 | +€2,905 | |
| Profit (loss) for the period | 9904 | -€7,076 | €2,674 | +€9,749 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,076 | €2,674 | +€9,749 |
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 25 October 2026 via checked.be.