Luscinia Ventures: what changed
Luscinia Ventures
Largest movements
- Financial fixed assets +€232,500
up €232,500 (+151%), from €154,000 to €386,500
- Cash +€40,134
up €40,134 (+170%), from €23,600 to €63,735
mainly Debts after one year (+€153,302) and Net result for the year (+€59,073)
- Receivables within one year +€18,701
up €18,701 (+108%), from €17,291 to €35,992
- Tangible fixed assets +€6,661
up €6,661 (+301%), from €2,209 to €8,870
of which Other tangible fixed assets: +€7,249
- Debts after one year +€153,302
up €153,302 (+134%), from €114,674 to €267,975
- Reserves +€59,073
up €59,073 (+576%), from €10,259 to €69,333
- Tax, wage and social debts +€34,974
up €34,974 (+293%), from €11,925 to €46,899
- Current portion of long-term debt +€29,611
up €29,611 (+154%), from €19,210 to €48,821
- Other debts +€20,184
up €20,184 (+50.6%), from €39,865 to €60,048
- Gross operating margin +€79,711
up €79,711 (+471%), from €16,910 to €96,621
- Taxes +€19,549
up €19,549 (+423%), from €4,618 to €24,167
- Financial charges +€10,053
up €10,053 (+611%), from €1,645 to €11,699
- Depreciation +€1,089
up €1,089 (+490%), from €222 to €1,312
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 | €199,145 | €497,365 | +€298,221 | +150% |
| Fixed assets | 21/28 | €156,209 | €395,370 | +€239,161 | +153% |
| Tangible fixed assets | 22/27 | €2,209 | €8,870 | +€6,661 | +301% |
| Plant, machinery and equipment | 23 | €1,543 | €1,210 | -€333 | -21.6% |
| Furniture and vehicles | 24 | €667 | €411 | -€256 | -38.4% |
| Other tangible fixed assets | 26 | - | €7,249 | +€7,249 | |
| Financial fixed assets | 28 | €154,000 | €386,500 | +€232,500 | +151% |
| Current assets | 29/58 | €42,935 | €101,995 | +€59,060 | +138% |
| Amounts receivable within one year | 40/41 | €17,291 | €35,992 | +€18,701 | +108% |
| Trade receivables | 40 | €17,291 | €35,992 | +€18,701 | +108% |
| Cash at bank and in hand | 54/58 | €23,600 | €63,735 | +€40,134 | +170% |
| Deferred charges and accrued income | 490/1 | €2,044 | €2,269 | +€225 | +11.0% |
| Total equity and liabilities | 10/49 | €199,145 | €497,365 | +€298,221 | +150% |
| Equity | 10/15 | €12,259 | €71,333 | +€59,073 | +482% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €10,259 | €69,333 | +€59,073 | +576% |
| Distributable reserves | 133 | €10,259 | €69,333 | +€59,073 | +576% |
| Amounts payable | 17/49 | €186,885 | €426,032 | +€239,147 | +128% |
| Amounts payable after more than one year | 17 | €114,674 | €267,975 | +€153,302 | +134% |
| Financial debts | 170/4 | €114,674 | €267,975 | +€153,302 | +134% |
| Amounts payable within one year | 42/48 | €72,211 | €157,935 | +€85,724 | +119% |
| Current portion of amounts payable after more than one year | 42 | €19,210 | €48,821 | +€29,611 | +154% |
| Trade debts | 44 | €1,211 | €2,166 | +€955 | +78.8% |
| Suppliers | 440/4 | €1,211 | €2,166 | +€955 | +78.8% |
| Taxes, remuneration and social security | 45 | €11,925 | €46,899 | +€34,974 | +293% |
| Taxes | 450/3 | €11,925 | €46,899 | +€34,974 | +293% |
| Other amounts payable | 47/48 | €39,865 | €60,048 | +€20,184 | +50.6% |
| Accrued charges and deferred income | 492/3 | - | €122 | +€122 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €222 | €1,312 | +€1,089 | +490% |
| Other operating charges | 640/8 | €166 | €370 | +€204 | +123% |
| Gross operating margin | 9900 | €16,910 | €96,621 | +€79,711 | +471% |
| Operating profit (loss) | 9901 | €16,522 | €94,940 | +€78,418 | +475% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €1,645 | €11,699 | +€10,053 | +611% |
| Recurring financial charges | 65 | €1,645 | €11,699 | +€10,053 | +611% |
| Profit (loss) for the period before taxes | 9903 | €14,877 | €83,241 | +€68,363 | +460% |
| Income taxes | 67/77 | €4,618 | €24,167 | +€19,549 | +423% |
| Profit (loss) for the period | 9904 | €10,259 | €59,073 | +€48,814 | +476% |
| Profit (loss) for the period to be appropriated | 9905 | €10,259 | €59,073 | +€48,814 | +476% |
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 2 November 2026 via checked.be.