LUNO PROJECTS: what changed
Two fiscal 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.
LUNO PROJECTS
Largest movements
- Cash +€220,185
up €220,185 (+188.6%), from €116,754 to €336,939
mainly Net result for the year (+€328,903) and Other debts (+€146,268)
- Current investments +€70,221
up €70,221 (+25.1%), from €280,000 to €350,221
- Tangible fixed assets -€14,474
down €14,474 (-19.9%), from €72,890 to €58,416
of which Furniture and vehicles: -€14,254
- Other debts +€146,268
up €146,268 (+266.8%), from €54,821 to €201,089
- Reserves +€128,676
up €128,676 (+19.9%), from €646,771 to €775,447
- Gross operating margin -€33,135
down €33,135 (-14.2%), from €232,664 to €199,529
- Financial income +€6,719
up €6,719 (+3.0%), from €225,369 to €232,088
of which Financial income: +€6,493
- Depreciation +€2,601
up €2,601 (+16.8%), from €15,521 to €18,121
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 | €727,997 | €1,000,394 | +€272,397 | +37.4% |
| Fixed assets | 21/28 | €322,890 | €308,416 | -€14,474 | -4.5% |
| Tangible fixed assets | 22/27 | €72,890 | €58,416 | -€14,474 | -19.9% |
| Plant, machinery and equipment | 23 | €1,959 | €1,739 | -€220 | -11.2% |
| Furniture and vehicles | 24 | €70,932 | €56,677 | -€14,254 | -20.1% |
| Financial fixed assets | 28 | €250,000 | €250,000 | = | 0.0% |
| Current assets | 29/58 | €405,107 | €691,978 | +€286,872 | +70.8% |
| Amounts receivable within one year | 40/41 | €5,424 | €3,942 | -€1,483 | -27.3% |
| Other amounts receivable | 41 | €5,424 | €3,942 | -€1,483 | -27.3% |
| Current investments | 50/53 | €280,000 | €350,221 | +€70,221 | +25.1% |
| Cash at bank and in hand | 54/58 | €116,754 | €336,939 | +€220,185 | +188.6% |
| Deferred charges and accrued income | 490/1 | €2,929 | €877 | -€2,052 | -70.0% |
| Total equity and liabilities | 10/49 | €727,997 | €1,000,394 | +€272,397 | +37.4% |
| Equity | 10/15 | €666,771 | €795,447 | +€128,676 | +19.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €646,771 | €775,447 | +€128,676 | +19.9% |
| Distributable reserves | 133 | €646,771 | €775,447 | +€128,676 | +19.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €61,226 | €204,948 | +€143,722 | +234.7% |
| Amounts payable within one year | 42/48 | €61,226 | €204,948 | +€143,722 | +234.7% |
| Trade debts | 44 | €2,662 | €283 | -€2,379 | -89.4% |
| Suppliers | 440/4 | €2,662 | €283 | -€2,379 | -89.4% |
| Taxes, remuneration and social security | 45 | €3,743 | €3,576 | -€167 | -4.5% |
| Taxes | 450/3 | €3,743 | €3,576 | -€167 | -4.5% |
| Other amounts payable | 47/48 | €54,821 | €201,089 | +€146,268 | +266.8% |
| Non-recurring operating income | 76A | €18,000 | €0 | -€18,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,521 | €18,121 | +€2,601 | +16.8% |
| Other operating charges | 640/8 | €1,101 | €1,168 | +€68 | +6.2% |
| Non-recurring operating charges | 66A | €43 | €0 | -€43 | -100.0% |
| Gross operating margin | 9900 | €232,664 | €199,529 | -€33,135 | -14.2% |
| Operating profit (loss) | 9901 | €216,000 | €180,240 | -€35,760 | -16.6% |
| Financial income | 75/76B | €225,369 | €232,088 | +€6,719 | +3.0% |
| Recurring financial income | 75 | €225,369 | €231,862 | +€6,493 | +2.9% |
| Non-recurring financial income | 76B | - | €226 | +€226 | |
| Financial charges | 65/66B | €235 | €293 | +€58 | +24.5% |
| Recurring financial charges | 65 | €235 | €293 | +€58 | +24.5% |
| Profit (loss) for the period before taxes | 9903 | €441,134 | €412,035 | -€29,099 | -6.6% |
| Income taxes | 67/77 | €84,945 | €83,132 | -€1,813 | -2.1% |
| Profit (loss) for the period | 9904 | €356,189 | €328,903 | -€27,286 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €356,189 | €328,903 | -€27,286 | -7.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.