LUNE: 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.
LUNE
Largest movements
- Current investments -€500,000
no longer reported in 2025 (was €500,000)
- Deferred charges and accrued income +€401,345
up €401,345 (+11740.3%), from €3,419 to €404,764
- Receivables within one year -€206,957
down €206,957 (-91.8%), from €225,391 to €18,433
- Financial fixed assets +€184,375
up €184,375 (+3.8%), from €4.9m to €5.1m
- Cash -€179,564
down €179,564 (-93.8%), from €191,344 to €11,780
mainly Other debts (-€407,549) and Deferred charges and accrued income (-€401,345)
- Other debts -€407,549
down €407,549 (-22.2%), from €1.8m to €1.4m
- Trade debts +€309,140
up €309,140 (+7476.6%), from €4,135 to €313,275
- Debts after one year -€176,472
down €176,472 (-10.6%), from €1.7m to €1.5m
of which Financial debts: -€136,472
- Reserves -€71,829
down €71,829 (-4.5%), from €1.6m to €1.5m
of which Distributable reserves: -€67,970
- Financial income -€1.4m
down €1.4m (-99.9%), from €1.4m to €1,208
of which Non-recurring financial income: -€1.4m
- Financial charges -€100,988
down €100,988 (-56.2%), from €179,670 to €78,682
of which Non-recurring financial charges: -€96,994
- Gross operating margin -€31,072
down €31,072 (-32.3%), from €96,155 to €65,083
- Depreciation +€2,014
up €2,014 (+3.7%), from €54,352 to €56,366
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 | €7,138,568 | €6,792,033 | -€346,535 | -4.9% |
| Fixed assets | 21/28 | €6,218,415 | €6,357,056 | +€138,641 | +2.2% |
| Intangible fixed assets | 21 | €133,268 | €128,825 | -€4,442 | -3.3% |
| Tangible fixed assets | 22/27 | €1,215,636 | €1,174,344 | -€41,292 | -3.4% |
| Land and buildings | 22 | €1,105,053 | €1,067,142 | -€37,911 | -3.4% |
| Plant, machinery and equipment | 23 | €103,329 | €101,103 | -€2,226 | -2.2% |
| Furniture and vehicles | 24 | €7,254 | €6,100 | -€1,155 | -15.9% |
| Financial fixed assets | 28 | €4,869,511 | €5,053,886 | +€184,375 | +3.8% |
| Current assets | 29/58 | €920,153 | €434,977 | -€485,176 | -52.7% |
| Amounts receivable within one year | 40/41 | €225,391 | €18,433 | -€206,957 | -91.8% |
| Other amounts receivable | 41 | €225,391 | €18,433 | -€206,957 | -91.8% |
| Current investments | 50/53 | €500,000 | - | -€500,000 | |
| Cash at bank and in hand | 54/58 | €191,344 | €11,780 | -€179,564 | -93.8% |
| Deferred charges and accrued income | 490/1 | €3,419 | €404,764 | +€401,345 | +11740.3% |
| Total equity and liabilities | 10/49 | €7,138,568 | €6,792,033 | -€346,535 | -4.9% |
| Equity | 10/15 | €3,408,762 | €3,336,933 | -€71,829 | -2.1% |
| Contributions | 10/11 | €1,824,836 | €1,824,836 | = | 0.0% |
| Capital | 10 | €1,824,836 | €1,824,836 | = | 0.0% |
| Issued capital | 100 | €1,824,836 | €1,824,836 | = | 0.0% |
| Reserves | 13 | €1,583,925 | €1,512,097 | -€71,829 | -4.5% |
| Non-distributable reserves | 130/1 | €82,170 | €82,170 | = | 0.0% |
| Legal reserve | 130 | €82,170 | €82,170 | = | 0.0% |
| Tax-exempt reserves | 132 | €135,160 | €131,302 | -€3,859 | -2.9% |
| Distributable reserves | 133 | €1,366,595 | €1,298,625 | -€67,970 | -5.0% |
| Provisions and deferred taxes | 16 | €45,052 | €43,765 | -€1,286 | -2.9% |
| Deferred taxes | 168 | €45,052 | €43,765 | -€1,286 | -2.9% |
| Amounts payable | 17/49 | €3,684,754 | €3,411,335 | -€273,420 | -7.4% |
| Amounts payable after more than one year | 17 | €1,660,120 | €1,483,648 | -€176,472 | -10.6% |
| Financial debts | 170/4 | €1,540,120 | €1,403,648 | -€136,472 | -8.9% |
| Other amounts payable | 178/9 | €120,000 | €80,000 | -€40,000 | -33.3% |
| Amounts payable within one year | 42/48 | €1,978,113 | €1,881,074 | -€97,040 | -4.9% |
| Current portion of amounts payable after more than one year | 42 | €135,103 | €136,472 | +€1,369 | +1.0% |
| Trade debts | 44 | €4,135 | €313,275 | +€309,140 | +7476.6% |
| Suppliers | 440/4 | €4,135 | €313,275 | +€309,140 | +7476.6% |
| Other amounts payable | 47/48 | €1,838,876 | €1,431,327 | -€407,549 | -22.2% |
| Accrued charges and deferred income | 492/3 | €46,521 | €46,613 | +€92 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,352 | €56,366 | +€2,014 | +3.7% |
| Other operating charges | 640/8 | €4,533 | €4,357 | -€176 | -3.9% |
| Gross operating margin | 9900 | €96,155 | €65,083 | -€31,072 | -32.3% |
| Operating profit (loss) | 9901 | €37,270 | €4,360 | -€32,910 | -88.3% |
| Financial income | 75/76B | €1,410,503 | €1,208 | -€1.4m | -99.9% |
| Recurring financial income | 75 | €13,103 | €1,208 | -€11,896 | -90.8% |
| Non-recurring financial income | 76B | €1,397,400 | - | -€1.4m | |
| Financial charges | 65/66B | €179,670 | €78,682 | -€100,988 | -56.2% |
| Recurring financial charges | 65 | €82,677 | €78,682 | -€3,994 | -4.8% |
| Non-recurring financial charges | 66B | €96,994 | - | -€96,994 | |
| Profit (loss) for the period before taxes | 9903 | €1,268,103 | -€73,115 | -€1.3m | |
| Transfer from deferred taxes | 780 | €1,243 | €1,286 | +€43 | +3.5% |
| Profit (loss) for the period | 9904 | €1,269,346 | -€71,829 | -€1.3m | |
| Transfer from tax-exempt reserves | 789 | €3,730 | €3,859 | +€129 | +3.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,273,076 | -€67,970 | -€1.3m |
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 9 October 2026 via checked.be.