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
- Receivables within one year +€2.7m
up €2.7m (+2,656%), from €101,921 to €2.8m
of which Other amounts receivable: +€2.5m
- Tangible fixed assets -€1.9m
down €1.9m (-37.6%), from €5.1m to €3.2m
of which Land and buildings: -€2.1m
- Cash +€150,745
up €150,745 (+202%), from €74,666 to €225,412
mainly Investment in fixed assets (net) (+€1.9m) and Net result for the year (+€637,965)
- Reserves +€637,965
up €637,965 (+42.8%), from €1.5m to €2.1m
- Advances received +€625,652
up €625,652 (+440%), from €142,227 to €767,879
- Current portion of long-term debt -€321,033
down €321,033 (-52.9%), from €607,031 to €285,999
- Debts after one year -€249,331
down €249,331 (-13.7%), from €1.8m to €1.6m
of which Financial debts: -€269,331
- Short-term financial debts +€225,000
new in 2025: €225,000
- Gross operating margin +€842,595
up €842,595 (+181%), from €465,991 to €1.3m
- Taxes +€199,005
up €199,005 (+719%), from €27,694 to €226,699
- Other operating charges +€72,881
up €72,881 (+55.2%), from €132,006 to €204,887
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 | €5,532,955 | €6,454,254 | +€921,299 | +16.7% |
| Fixed assets | 21/28 | €5,149,811 | €3,212,836 | -€1.9m | -37.6% |
| Tangible fixed assets | 22/27 | €5,149,741 | €3,212,766 | -€1.9m | -37.6% |
| Land and buildings | 22 | €5,029,856 | €2,951,336 | -€2.1m | -41.3% |
| Plant, machinery and equipment | 23 | €70,072 | €130,873 | +€60,801 | +86.8% |
| Furniture and vehicles | 24 | €49,812 | €130,557 | +€80,745 | +162% |
| Financial fixed assets | 28 | €70 | €70 | = | 0.0% |
| Current assets | 29/58 | €383,144 | €3,241,417 | +€2.9m | +746% |
| Stocks and contracts in progress | 3 | €206,556 | €206,556 | = | 0.0% |
| Stocks | 30/36 | €206,556 | €206,556 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €101,921 | €2,809,449 | +€2.7m | +2,656% |
| Trade receivables | 40 | €40,722 | €293,560 | +€252,838 | +621% |
| Other amounts receivable | 41 | €61,199 | €2,515,889 | +€2.5m | +4,011% |
| Cash at bank and in hand | 54/58 | €74,666 | €225,412 | +€150,745 | +202% |
| Total equity and liabilities | 10/49 | €5,532,955 | €6,454,254 | +€921,299 | +16.7% |
| Equity | 10/15 | €1,991,214 | €2,629,179 | +€637,965 | +32.0% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €1,491,214 | €2,129,179 | +€637,965 | +42.8% |
| Distributable reserves | 133 | €1,491,214 | €2,129,179 | +€637,965 | +42.8% |
| Amounts payable | 17/49 | €3,541,740 | €3,825,075 | +€283,334 | +8.0% |
| Amounts payable after more than one year | 17 | €1,814,458 | €1,565,127 | -€249,331 | -13.7% |
| Financial debts | 170/4 | €1,727,797 | €1,458,466 | -€269,331 | -15.6% |
| Other amounts payable | 178/9 | €86,661 | €106,661 | +€20,000 | +23.1% |
| Amounts payable within one year | 42/48 | €1,727,282 | €2,259,948 | +€532,666 | +30.8% |
| Current portion of amounts payable after more than one year | 42 | €607,031 | €285,999 | -€321,033 | -52.9% |
| Financial debts | 43 | - | €225,000 | +€225,000 | |
| Other loans | 439 | - | €225,000 | +€225,000 | |
| Trade debts | 44 | €751,979 | €788,859 | +€36,880 | +4.9% |
| Suppliers | 440/4 | €751,979 | €788,859 | +€36,880 | +4.9% |
| Advances received on contracts in progress | 46 | €142,227 | €767,879 | +€625,652 | +440% |
| Taxes, remuneration and social security | 45 | €38,882 | €192,211 | +€153,329 | +394% |
| Taxes | 450/3 | €35,726 | €176,699 | +€140,973 | +395% |
| Remuneration and social security | 454/9 | €3,156 | €15,512 | +€12,356 | +391% |
| Other amounts payable | 47/48 | €187,163 | - | -€187,163 | |
| Non-recurring operating income | 76A | - | €785,730 | +€785,730 | |
| Remuneration, social security and pensions | 62 | €114,710 | €111,062 | -€3,648 | -3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,230 | €36,179 | +€10,949 | +43.4% |
| Other operating charges | 640/8 | €132,006 | €204,887 | +€72,881 | +55.2% |
| Gross operating margin | 9900 | €465,991 | €1,308,586 | +€842,595 | +181% |
| Operating profit (loss) | 9901 | €194,046 | €956,458 | +€762,412 | +393% |
| Financial income | 75/76B | €14 | - | -€14 | |
| Recurring financial income | 75 | €14 | - | -€14 | |
| Financial charges | 65/66B | €93,299 | €91,794 | -€1,504 | -1.6% |
| Recurring financial charges | 65 | €93,299 | €91,794 | -€1,504 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €100,762 | €864,664 | +€763,902 | +758% |
| Income taxes | 67/77 | €27,694 | €226,699 | +€199,005 | +719% |
| Profit (loss) for the period | 9904 | €73,068 | €637,965 | +€564,896 | +773% |
| Profit (loss) for the period to be appropriated | 9905 | €73,068 | €637,965 | +€564,896 | +773% |
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.