LUNO Invest: what changed
LUNO Invest
Largest movements
- Receivables within one year +€112,751
up €112,751 (+101%), from €112,078 to €224,829
of which Trade receivables: +€90,756
- Tangible fixed assets +€73,907
up €73,907 (+615%), from €12,010 to €85,917
of which Other tangible fixed assets: +€81,999
- Stocks and contracts +€53,238
up €53,238 (+10.5%), from €506,870 to €560,108
- Cash +€19,704
up €19,704 (+81.4%), from €24,206 to €43,910
mainly Net result for the year (+€102,575) and Debts after one year (+€64,378)
- Reserves +€102,575
up €102,575 (+98.6%), from €104,069 to €206,644
- Debts after one year +€64,378
up €64,378 (+50.9%), from €126,386 to €190,764
- Current portion of long-term debt +€61,351
up €61,351 (+444%), from €13,831 to €75,183
- Trade debts +€57,621
up €57,621 (+232%), from €24,808 to €82,429
- Other debts -€34,333
down €34,333 (-26.4%), from €130,108 to €95,775
- Gross operating margin +€111,233
up €111,233 (+108%), from €103,120 to €214,353
- Taxes +€17,198
up €17,198 (+135%), from €12,762 to €29,960
- Financial charges +€17,088
up €17,088 (+82.7%), from €20,669 to €37,756
- Other operating charges +€14,105
up €14,105 (+99.4%), from €14,188 to €28,293
- Depreciation +€4,456
up €4,456 (+39.1%), from €11,404 to €15,860
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €655,164 | €914,764 | +€259,600 | +39.6% |
| Fixed assets | 21/28 | €12,010 | €85,917 | +€73,907 | +615% |
| Tangible fixed assets | 22/27 | €12,010 | €85,917 | +€73,907 | +615% |
| Furniture and vehicles | 24 | €12,010 | €3,918 | -€8,092 | -67.4% |
| Other tangible fixed assets | 26 | - | €81,999 | +€81,999 | |
| Current assets | 29/58 | €643,154 | €828,847 | +€185,692 | +28.9% |
| Stocks and contracts in progress | 3 | €506,870 | €560,108 | +€53,238 | +10.5% |
| Stocks | 30/36 | €506,870 | €560,108 | +€53,238 | +10.5% |
| Amounts receivable within one year | 40/41 | €112,078 | €224,829 | +€112,751 | +101% |
| Trade receivables | 40 | €30,378 | €121,134 | +€90,756 | +299% |
| Other amounts receivable | 41 | €81,700 | €103,695 | +€21,995 | +26.9% |
| Cash at bank and in hand | 54/58 | €24,206 | €43,910 | +€19,704 | +81.4% |
| Total equity and liabilities | 10/49 | €655,164 | €914,764 | +€259,600 | +39.6% |
| Equity | 10/15 | €107,069 | €209,644 | +€102,575 | +95.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €104,069 | €206,644 | +€102,575 | +98.6% |
| Distributable reserves | 133 | €104,069 | €206,644 | +€102,575 | +98.6% |
| Amounts payable | 17/49 | €548,095 | €705,120 | +€157,025 | +28.6% |
| Amounts payable after more than one year | 17 | €126,386 | €190,764 | +€64,378 | +50.9% |
| Financial debts | 170/4 | €126,386 | €190,764 | +€64,378 | +50.9% |
| Amounts payable within one year | 42/48 | €419,235 | €514,356 | +€95,121 | +22.7% |
| Current portion of amounts payable after more than one year | 42 | €13,831 | €75,183 | +€61,351 | +444% |
| Financial debts | 43 | €211,000 | €211,000 | = | 0.0% |
| Credit institutions | 430/8 | €211,000 | €211,000 | = | 0.0% |
| Trade debts | 44 | €24,808 | €82,429 | +€57,621 | +232% |
| Suppliers | 440/4 | €24,808 | €82,429 | +€57,621 | +232% |
| Taxes, remuneration and social security | 45 | €39,488 | €49,969 | +€10,481 | +26.5% |
| Taxes | 450/3 | €39,488 | €49,969 | +€10,481 | +26.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €130,108 | €95,775 | -€34,333 | -26.4% |
| Accrued charges and deferred income | 492/3 | €2,473 | €0 | -€2,473 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,404 | €15,860 | +€4,456 | +39.1% |
| Other operating charges | 640/8 | €14,188 | €28,293 | +€14,105 | +99.4% |
| Gross operating margin | 9900 | €103,120 | €214,353 | +€111,233 | +108% |
| Operating profit (loss) | 9901 | €77,528 | €170,201 | +€92,673 | +120% |
| Financial income | 75/76B | €21 | €90 | +€69 | +328% |
| Recurring financial income | 75 | €21 | €90 | +€69 | +328% |
| Financial charges | 65/66B | €20,669 | €37,756 | +€17,088 | +82.7% |
| Recurring financial charges | 65 | €20,669 | €37,756 | +€17,088 | +82.7% |
| Profit (loss) for the period before taxes | 9903 | €56,880 | €132,535 | +€75,654 | +133% |
| Income taxes | 67/77 | €12,762 | €29,960 | +€17,198 | +135% |
| Profit (loss) for the period | 9904 | €44,119 | €102,575 | +€58,456 | +132% |
| Profit (loss) for the period to be appropriated | 9905 | €44,119 | €102,575 | +€58,456 | +132% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.