LUNA: 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.
LUNA
Largest movements
- Tangible fixed assets +€63,104
up €63,104 (+6.0%), from €1.0m to €1.1m
- Receivables within one year -€33,689
down €33,689 (-42.1%), from €79,978 to €46,290
of which Other amounts receivable: -€17,689
- Cash +€24,986
up €24,986 (+169%), from €14,759 to €39,745
mainly Contributions, distributions and other (+€80,666) and Depreciation (+€38,379)
- Debts after one year -€87,079
down €87,079 (-10.6%), from €822,958 to €735,880
of which Other amounts payable: -€63,500
- Investment grants +€80,666
up €80,666 (+127%), from €63,556 to €144,222
- Reserves +€29,595
up €29,595 (+20.8%), from €142,332 to €171,927
of which Distributable reserves: +€29,595
- Provisions +€26,889
up €26,889 (+127%), from €21,185 to €48,074
- Gross operating margin +€63,097
up €63,097 (+352%), from €17,941 to €81,038
- Financial income +€5,790
up €5,790 (+193%), from €3,002 to €8,792
- Financial charges -€918
down €918 (-7.0%), from €13,093 to €12,175
- Depreciation +€824
up €824 (+2.2%), from €37,555 to €38,379
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 | €1,157,727 | €1,212,183 | +€54,456 | +4.7% |
| Fixed assets | 21/28 | €1,046,207 | €1,109,311 | +€63,104 | +6.0% |
| Tangible fixed assets | 22/27 | €1,046,207 | €1,109,311 | +€63,104 | +6.0% |
| Land and buildings | 22 | €1,046,207 | €1,109,311 | +€63,104 | +6.0% |
| Current assets | 29/58 | €111,520 | €102,872 | -€8,648 | -7.8% |
| Amounts receivable within one year | 40/41 | €79,978 | €46,290 | -€33,689 | -42.1% |
| Trade receivables | 40 | €24,158 | €8,158 | -€16,000 | -66.2% |
| Other amounts receivable | 41 | €55,821 | €38,132 | -€17,689 | -31.7% |
| Current investments | 50/53 | €10,395 | €10,395 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €14,759 | €39,745 | +€24,986 | +169% |
| Deferred charges and accrued income | 490/1 | €6,388 | €6,442 | +€54 | +0.9% |
| Total equity and liabilities | 10/49 | €1,157,727 | €1,212,183 | +€54,456 | +4.7% |
| Equity | 10/15 | €265,889 | €376,150 | +€110,261 | +41.5% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €142,332 | €171,927 | +€29,595 | +20.8% |
| Non-distributable reserves | 130/1 | €6,000 | €6,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,000 | €6,000 | = | 0.0% |
| Distributable reserves | 133 | €136,332 | €165,927 | +€29,595 | +21.7% |
| Investment grants | 15 | €63,556 | €144,222 | +€80,666 | +127% |
| Provisions and deferred taxes | 16 | €21,185 | €48,074 | +€26,889 | +127% |
| Deferred taxes | 168 | €21,185 | €48,074 | +€26,889 | +127% |
| Amounts payable | 17/49 | €870,653 | €787,959 | -€82,694 | -9.5% |
| Amounts payable after more than one year | 17 | €822,958 | €735,880 | -€87,079 | -10.6% |
| Financial debts | 170/4 | €328,350 | €304,771 | -€23,579 | -7.2% |
| Other amounts payable | 178/9 | €494,608 | €431,108 | -€63,500 | -12.8% |
| Amounts payable within one year | 42/48 | €45,565 | €49,949 | +€4,384 | +9.6% |
| Current portion of amounts payable after more than one year | 42 | €34,540 | €38,316 | +€3,776 | +10.9% |
| Trade debts | 44 | €11,025 | €11,633 | +€607 | +5.5% |
| Suppliers | 440/4 | €11,025 | €11,633 | +€607 | +5.5% |
| Accrued charges and deferred income | 492/3 | €2,130 | €2,131 | +€1 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,555 | €38,379 | +€824 | +2.2% |
| Other operating charges | 640/8 | €12,197 | €12,093 | -€104 | -0.9% |
| Gross operating margin | 9900 | €17,941 | €81,038 | +€63,097 | +352% |
| Operating profit (loss) | 9901 | -€31,811 | €30,566 | +€62,377 | |
| Financial income | 75/76B | €3,002 | €8,792 | +€5,790 | +193% |
| Recurring financial income | 75 | €3,002 | €8,792 | +€5,790 | +193% |
| Financial charges | 65/66B | €13,093 | €12,175 | -€918 | -7.0% |
| Recurring financial charges | 65 | €13,093 | €12,175 | -€918 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | -€41,902 | €27,183 | +€69,085 | |
| Transfer from deferred taxes | 780 | €345 | €2,412 | +€2,067 | +598% |
| Income taxes | 67/77 | €100 | €0 | -€100 | -100% |
| Profit (loss) for the period | 9904 | -€41,657 | €29,595 | +€71,252 | |
| Profit (loss) for the period to be appropriated | 9905 | -€41,657 | €29,595 | +€71,252 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.