LUNAMAN: 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.
LUNAMAN
Largest movements
- Current investments +€348,272
new in 2025: €348,272
- Financial fixed assets +€134,500
up €134,500 (+47.2%), from €284,807 to €419,307
- Cash -€77,460
down €77,460 (-36.7%), from €211,024 to €133,564
mainly Current investments (-€348,272) and Investment in fixed assets (net) (-€134,500)
- Receivables within one year -€25,271
down €25,271 (-67.2%), from €37,627 to €12,356
- Reserves +€392,763
up €392,763 (+103%), from €382,120 to €774,883
- Trade debts -€13,737
down €13,737 (-78.9%), from €17,420 to €3,682
- Financial income +€303,761
up €303,761 (+820%), from €37,028 to €340,789
of which Non-recurring financial income: +€288,205
- Gross operating margin -€70,058
down €70,058 (-35.4%), from €197,975 to €127,917
- Taxes +€23,848
up €23,848 (+47.7%), from €50,027 to €73,875
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 | €533,586 | €913,746 | +€380,160 | +71.2% |
| Fixed assets | 21/28 | €284,807 | €419,307 | +€134,500 | +47.2% |
| Financial fixed assets | 28 | €284,807 | €419,307 | +€134,500 | +47.2% |
| Current assets | 29/58 | €248,779 | €494,439 | +€245,660 | +98.7% |
| Amounts receivable within one year | 40/41 | €37,627 | €12,356 | -€25,271 | -67.2% |
| Trade receivables | 40 | €37,627 | €12,356 | -€25,271 | -67.2% |
| Current investments | 50/53 | - | €348,272 | +€348,272 | |
| Cash at bank and in hand | 54/58 | €211,024 | €133,564 | -€77,460 | -36.7% |
| Deferred charges and accrued income | 490/1 | €128 | €247 | +€119 | +92.5% |
| Total equity and liabilities | 10/49 | €533,586 | €913,746 | +€380,160 | +71.2% |
| Equity | 10/15 | €392,120 | €784,883 | +€392,763 | +100% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €382,120 | €774,883 | +€392,763 | +103% |
| Distributable reserves | 133 | €382,120 | €774,883 | +€392,763 | +103% |
| Amounts payable | 17/49 | €141,466 | €128,863 | -€12,603 | -8.9% |
| Amounts payable within one year | 42/48 | €141,466 | €128,863 | -€12,603 | -8.9% |
| Trade debts | 44 | €17,420 | €3,682 | -€13,737 | -78.9% |
| Suppliers | 440/4 | €17,420 | €3,682 | -€13,737 | -78.9% |
| Taxes, remuneration and social security | 45 | €124,046 | €125,180 | +€1,134 | +0.9% |
| Taxes | 450/3 | €124,046 | €125,180 | +€1,134 | +0.9% |
| Other operating charges | 640/8 | €692 | €1,047 | +€355 | +51.3% |
| Gross operating margin | 9900 | €197,975 | €127,917 | -€70,058 | -35.4% |
| Operating profit (loss) | 9901 | €197,282 | €126,869 | -€70,413 | -35.7% |
| Financial income | 75/76B | €37,028 | €340,789 | +€303,761 | +820% |
| Recurring financial income | 75 | €37,028 | €52,584 | +€15,556 | +42.0% |
| Non-recurring financial income | 76B | - | €288,205 | +€288,205 | |
| Financial charges | 65/66B | €275 | €1,020 | +€745 | +270% |
| Recurring financial charges | 65 | €275 | €1,020 | +€745 | +270% |
| Profit (loss) for the period before taxes | 9903 | €234,035 | €466,638 | +€232,603 | +99.4% |
| Income taxes | 67/77 | €50,027 | €73,875 | +€23,848 | +47.7% |
| Profit (loss) for the period | 9904 | €184,008 | €392,763 | +€208,755 | +113% |
| Profit (loss) for the period to be appropriated | 9905 | €184,008 | €392,763 | +€208,755 | +113% |
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 28 October 2026 via checked.be.