Luminus Cities: what changed
Two fiscal 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.
What changed
Luminus Cities
NACE 43.211, General electrical installation work
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€2.7m
2024 · -€13.9m+€11.2m
Equity
-€22.7m
2024 · -€20.1m-€2.7m
Cash
€602,045
2024 · €715,498-€113,453
Balance sheet total
€15.1m
2024 · €27.9m-€12.8m
Largest movements
Assets
- Receivables within one year -€12.4m
down €12.4m (-47.4%), from €26.3m to €13.8m
of which Trade receivables: -€6.6m
Equity and liabilities
- Trade debts -€8.3m
down €8.3m (-51.2%), from €16.1m to €7.9m
- Profit (loss) carried forward -€2.7m
down €2.7m (-8.6%), from -€31.1m to -€33.8m
- Accrued charges and deferred income -€1.1m
down €1.1m (-14.8%), from €7.4m to €6.3m
- Provisions -€885,839
down €885,839 (-4.2%), from €21.1m to €20.2m
Income statement
- Provisions -€15.8m
down €15.8m, from €14.9m to -€885,839
- Other operating income -€3.5m
down €3.5m (-64.9%), from €5.4m to €1.9m
- Turnover -€1.7m
down €1.7m (-20.6%), from €8.3m to €6.6m
- Goods and materials -€547,275
down €547,275 (-11.9%), from €4.6m to €4.1m
of which Purchases: -€549,676
- Staff costs -€237,106
down €237,106 (-7.2%), from €3.3m to €3.1m
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.
Result 2024
-€13.9m
Turnover
-€1.7m
Other operating income
-€3.5m
Goods and materials
+€547,275
Services and other goods
+€65,294
Staff costs
+€237,106
Depreciation
-€1,063
Provisions
+€15.8m
Other operating charges
+€130,880
Financial income
-€128,045
Financial charges
-€196,583
Taxes
-€21,125
Result 2025
-€2.7m
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.
From operations
-€268
Investment
-€113,186
Financing
€0
Cash 2024
€715,498
From operations (derived)
-€268
Net result for the year
-€2.7m
Depreciation
+€102,488
Stocks and contracts
+€6,180
Receivables within one year
+€12.4m
Deferred charges and accrued income
+€235,443
Provisions
-€885,839
Trade debts
-€8.3m
Tax, wage and social debts
+€105,636
Other debts
+€49,961
Accrued charges and deferred income
-€1.1m
Investment (derived)
-€113,186
Investment in fixed assets (net)
-€113,186
Cash 2025
€602,045
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €27,928,165 | €15,144,515 | -€12.8m | -45.8% |
| Fixed assets | 21/28 | €238,531 | €249,228 | +€10,697 | +4.5% |
| Intangible fixed assets | 21 | €3,373 | €12,270 | +€8,897 | +263.8% |
| Tangible fixed assets | 22/27 | €204,663 | €206,463 | +€1,800 | +0.9% |
| Plant, machinery and equipment | 23 | €21,760 | €28,263 | +€6,502 | +29.9% |
| Furniture and vehicles | 24 | €137,819 | €144,418 | +€6,599 | +4.8% |
| Leasing and similar rights | 25 | €4,150 | - | -€4,150 | |
| Other tangible fixed assets | 26 | €40,933 | €33,782 | -€7,151 | -17.5% |
| Financial fixed assets | 28 | €30,495 | €30,495 | = | 0.0% |
| Affiliated companies | 280/1 | €15,500 | €15,500 | = | 0.0% |
| Participating interests | 280 | €15,500 | €15,500 | = | 0.0% |
| Other financial fixed assets | 284/8 | €14,995 | €14,995 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €14,995 | €14,995 | = | 0.0% |
| Current assets | 29/58 | €27,689,634 | €14,895,287 | -€12.8m | -46.2% |
| Stocks and contracts in progress | 3 | €47,642 | €41,462 | -€6,180 | -13.0% |
| Stocks | 30/36 | €47,642 | €41,462 | -€6,180 | -13.0% |
| Goods purchased for resale | 34 | €47,642 | €41,462 | -€6,180 | -13.0% |
| Amounts receivable within one year | 40/41 | €26,253,404 | €13,814,134 | -€12.4m | -47.4% |
| Trade receivables | 40 | €17,581,453 | €10,948,571 | -€6.6m | -37.7% |
| Other amounts receivable | 41 | €8,671,951 | €2,865,563 | -€5.8m | -67.0% |
| Cash at bank and in hand | 54/58 | €715,498 | €602,045 | -€113,453 | -15.9% |
| Deferred charges and accrued income | 490/1 | €673,089 | €437,646 | -€235,443 | -35.0% |
| Total equity and liabilities | 10/49 | €27,928,165 | €15,144,515 | -€12.8m | -45.8% |
| Equity | 10/15 | -€20,060,493 | -€22,742,633 | -€2.7m | -13.4% |
| Contributions | 10/11 | €11,061,500 | €11,061,500 | = | 0.0% |
| Capital | 10 | €11,061,500 | €11,061,500 | = | 0.0% |
| Issued capital | 100 | €11,061,500 | €11,061,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,128,143 | -€33,810,283 | -€2.7m | -8.6% |
| Provisions and deferred taxes | 16 | €21,120,965 | €20,235,126 | -€885,839 | -4.2% |
| Provisions for liabilities and charges | 160/5 | €21,120,965 | €20,235,126 | -€885,839 | -4.2% |
| Other liabilities and charges | 164/5 | €21,120,965 | €20,235,126 | -€885,839 | -4.2% |
| Amounts payable | 17/49 | €26,867,693 | €17,652,022 | -€9.2m | -34.3% |
| Amounts payable within one year | 42/48 | €19,431,904 | €11,314,798 | -€8.1m | -41.8% |
| Current portion of amounts payable after more than one year | 42 | €3,246 | €3,246 | = | 0.0% |
| Financial debts | 43 | €3,000,000 | €3,000,000 | = | 0.0% |
| Other loans | 439 | €3,000,000 | €3,000,000 | = | 0.0% |
| Trade debts | 44 | €16,144,964 | €7,872,261 | -€8.3m | -51.2% |
| Suppliers | 440/4 | €16,144,964 | €7,872,261 | -€8.3m | -51.2% |
| Taxes, remuneration and social security | 45 | €224,126 | €329,762 | +€105,636 | +47.1% |
| Taxes | 450/3 | - | €89,190 | +€89,190 | |
| Remuneration and social security | 454/9 | €224,126 | €240,573 | +€16,447 | +7.3% |
| Other amounts payable | 47/48 | €59,568 | €109,529 | +€49,961 | +83.9% |
| Accrued charges and deferred income | 492/3 | €7,435,788 | €6,337,223 | -€1.1m | -14.8% |
| Operating income | 70/76A | €13,639,559 | €8,445,014 | -€5.2m | -38.1% |
| Turnover | 70 | €8,250,348 | €6,552,519 | -€1.7m | -20.6% |
| Other operating income | 74 | €5,389,211 | €1,892,495 | -€3.5m | -64.9% |
| Operating charges | 60/66A | €27,665,504 | €10,890,030 | -€16.8m | -60.6% |
| Goods for resale, raw materials and consumables | 60 | €4,614,401 | €4,067,126 | -€547,275 | -11.9% |
| Purchases | 600/8 | €4,610,621 | €4,060,945 | -€549,676 | -11.9% |
| Change in stocks: decrease (increase) | 609 | €3,779 | €6,180 | +€2,401 | +63.5% |
| Services and other goods | 61 | €4,567,373 | €4,502,080 | -€65,294 | -1.4% |
| Remuneration, social security and pensions | 62 | €3,312,607 | €3,075,502 | -€237,106 | -7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,425 | €102,488 | +€1,063 | +1.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €14,910,144 | -€885,839 | -€15.8m | |
| Other operating charges | 640/8 | €159,554 | €28,674 | -€130,880 | -82.0% |
| Operating profit (loss) | 9901 | -€14,025,945 | -€2,445,016 | +€11.6m | +82.6% |
| Financial income | 75/76B | €224,943 | €96,899 | -€128,045 | -56.9% |
| Recurring financial income | 75 | €224,943 | €96,899 | -€128,045 | -56.9% |
| Income from current assets | 751 | €224,943 | €96,899 | -€128,045 | -56.9% |
| Financial charges | 65/66B | €112,315 | €308,897 | +€196,583 | +175.0% |
| Recurring financial charges | 65 | €112,315 | €308,897 | +€196,583 | +175.0% |
| Debt charges | 650 | €31,373 | €243,144 | +€211,772 | +675.0% |
| Other financial charges | 652/9 | €80,942 | €65,753 | -€15,189 | -18.8% |
| Profit (loss) for the period before taxes | 9903 | -€13,913,316 | -€2,657,015 | +€11.3m | +80.9% |
| Income taxes | 67/77 | €4,000 | €25,125 | +€21,125 | +528.1% |
| Taxes | 670/3 | €4,000 | €25,125 | +€21,125 | +528.1% |
| Profit (loss) for the period | 9904 | -€13,917,316 | -€2,682,140 | +€11.2m | +80.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,917,316 | -€2,682,140 | +€11.2m | +80.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.