LUMINOVA: 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.
LUMINOVA
Largest movements
- Receivables within one year -€22,417
down €22,417 (-57.6%), from €38,916 to €16,499
of which Trade receivables: -€16,376
- Tangible fixed assets -€11,213
down €11,213 (-8.7%), from €129,130 to €117,917
of which Land and buildings: -€10,790
- Cash -€5,759
down €5,759 (-77.6%), from €7,418 to €1,658
mainly Net result for the year (-€61,951) and Debts after one year (-€17,903)
- Profit (loss) carried forward -€61,951
down €61,951 (-118.0%), from -€52,487 to -€114,438
- Other debts +€44,056
up €44,056 (+104.9%), from €41,982 to €86,038
- Debts after one year -€17,903
down €17,903 (-19.9%), from €89,940 to €72,037
- Trade debts -€9,111
down €9,111 (-92.4%), from €9,855 to €745
- Tax, wage and social debts +€4,999
up €4,999 (+106.6%), from €4,692 to €9,691
of which Taxes: +€3,079
- Write-downs +€16,376
new in 2025: €16,376
- Gross operating margin -€5,078
down €5,078 (-21.1%), from -€24,077 to -€29,155
- Depreciation -€618
down €618 (-5.2%), from €11,830 to €11,213
- Financial charges -€515
down €515 (-12.1%), from €4,271 to €3,757
- Other operating charges -€351
down €351 (-22.2%), from €1,582 to €1,231
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 | €175,463 | €136,074 | -€39,389 | -22.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €129,130 | €117,917 | -€11,213 | -8.7% |
| Tangible fixed assets | 22/27 | €129,130 | €117,917 | -€11,213 | -8.7% |
| Land and buildings | 22 | €128,258 | €117,468 | -€10,790 | -8.4% |
| Plant, machinery and equipment | 23 | €113 | €63 | -€49 | -43.9% |
| Furniture and vehicles | 24 | €759 | €386 | -€373 | -49.1% |
| Current assets | 29/58 | €46,334 | €18,157 | -€28,176 | -60.8% |
| Amounts receivable within one year | 40/41 | €38,916 | €16,499 | -€22,417 | -57.6% |
| Trade receivables | 40 | €32,875 | €16,499 | -€16,376 | -49.8% |
| Other amounts receivable | 41 | €6,041 | - | -€6,041 | |
| Cash at bank and in hand | 54/58 | €7,418 | €1,658 | -€5,759 | -77.6% |
| Total equity and liabilities | 10/49 | €175,463 | €136,074 | -€39,389 | -22.4% |
| Equity | 10/15 | €11,612 | -€50,340 | -€61,951 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €45,498 | €45,498 | = | 0.0% |
| Distributable reserves | 133 | €45,498 | €45,498 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€52,487 | -€114,438 | -€61,951 | -118.0% |
| Amounts payable | 17/49 | €163,852 | €186,414 | +€22,562 | +13.8% |
| Amounts payable after more than one year | 17 | €89,940 | €72,037 | -€17,903 | -19.9% |
| Financial debts | 170/4 | €89,940 | €72,037 | -€17,903 | -19.9% |
| Amounts payable within one year | 42/48 | €73,912 | €114,377 | +€40,465 | +54.7% |
| Current portion of amounts payable after more than one year | 42 | €17,383 | €17,903 | +€520 | +3.0% |
| Trade debts | 44 | €9,855 | €745 | -€9,111 | -92.4% |
| Suppliers | 440/4 | €9,855 | €745 | -€9,111 | -92.4% |
| Taxes, remuneration and social security | 45 | €4,692 | €9,691 | +€4,999 | +106.6% |
| Taxes | 450/3 | €4,692 | €7,771 | +€3,079 | +65.6% |
| Remuneration and social security | 454/9 | - | €1,920 | +€1,920 | |
| Other amounts payable | 47/48 | €41,982 | €86,038 | +€44,056 | +104.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,830 | €11,213 | -€618 | -5.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €16,376 | +€16,376 | |
| Other operating charges | 640/8 | €1,582 | €1,231 | -€351 | -22.2% |
| Gross operating margin | 9900 | -€24,077 | -€29,155 | -€5,078 | -21.1% |
| Operating profit (loss) | 9901 | -€37,490 | -€57,975 | -€20,485 | -54.6% |
| Financial income | 75/76B | €6 | - | -€6 | |
| Recurring financial income | 75 | €6 | - | -€6 | |
| Financial charges | 65/66B | €4,271 | €3,757 | -€515 | -12.1% |
| Recurring financial charges | 65 | €4,271 | €3,757 | -€515 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | -€41,756 | -€61,732 | -€19,976 | -47.8% |
| Income taxes | 67/77 | €239 | €219 | -€20 | -8.3% |
| Profit (loss) for the period | 9904 | -€41,995 | -€61,951 | -€19,956 | -47.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€41,995 | -€61,951 | -€19,956 | -47.5% |
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 12 October 2026 via checked.be.