LUTHIEN: 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.
LUTHIEN
Largest movements
- Cash +€35,316
up €35,316 (+129.2%), from €27,339 to €62,654
mainly Other debts (+€39,662) and Net result for the year (+€26,323)
- Tangible fixed assets -€9,280
down €9,280 (-46.2%), from €20,108 to €10,828
of which Leasing and similar rights: -€10,314
- Receivables within one year -€3,701
down €3,701 (-100.0%), from €3,701 to €0
of which Other amounts receivable: -€3,701
- Deferred charges and accrued income -€1,053
down €1,053 (-42.0%), from €2,509 to €1,455
- Other debts +€39,662
up €39,662 (+1525.4%), from €2,600 to €42,262
- Reserves -€15,677
down €15,677 (-94.5%), from €16,591 to €914
- Debts after one year -€9,703
down €9,703 (-100.0%), from €9,703 to €0
- Tax, wage and social debts +€8,996
up €8,996 (+126.3%), from €7,123 to €16,119
of which Taxes: +€7,796
- Trade debts -€1,242
down €1,242 (-56.8%), from €2,187 to €945
- Gross operating margin +€28,406
up €28,406 (+160.5%), from €17,695 to €46,101
- Taxes +€5,834
up €5,834 (+403.3%), from €1,447 to €7,280
- Financial charges -€1,023
down €1,023 (-78.7%), from €1,300 to €277
- Depreciation +€470
up €470 (+4.6%), from €10,314 to €10,784
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 | €53,660 | €74,943 | +€21,282 | +39.7% |
| Fixed assets | 21/28 | €20,113 | €10,833 | -€9,280 | -46.1% |
| Tangible fixed assets | 22/27 | €20,108 | €10,828 | -€9,280 | -46.2% |
| Furniture and vehicles | 24 | - | €1,034 | +€1,034 | |
| Leasing and similar rights | 25 | €20,108 | €9,794 | -€10,314 | -51.3% |
| Financial fixed assets | 28 | €5 | €5 | = | 0.0% |
| Current assets | 29/58 | €33,548 | €64,110 | +€30,562 | +91.1% |
| Amounts receivable within one year | 40/41 | €3,701 | €0 | -€3,701 | -100.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €3,701 | €0 | -€3,701 | -100.0% |
| Cash at bank and in hand | 54/58 | €27,339 | €62,654 | +€35,316 | +129.2% |
| Deferred charges and accrued income | 490/1 | €2,509 | €1,455 | -€1,053 | -42.0% |
| Total equity and liabilities | 10/49 | €53,660 | €74,943 | +€21,282 | +39.7% |
| Equity | 10/15 | €21,591 | €5,914 | -€15,677 | -72.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €16,591 | €914 | -€15,677 | -94.5% |
| Distributable reserves | 133 | €16,591 | €914 | -€15,677 | -94.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €32,069 | €69,028 | +€36,959 | +115.2% |
| Amounts payable after more than one year | 17 | €9,703 | €0 | -€9,703 | -100.0% |
| Financial debts | 170/4 | €9,703 | €0 | -€9,703 | -100.0% |
| Amounts payable within one year | 42/48 | €22,366 | €69,028 | +€46,662 | +208.6% |
| Current portion of amounts payable after more than one year | 42 | €10,456 | €9,703 | -€753 | -7.2% |
| Trade debts | 44 | €2,187 | €945 | -€1,242 | -56.8% |
| Suppliers | 440/4 | €2,187 | €945 | -€1,242 | -56.8% |
| Taxes, remuneration and social security | 45 | €7,123 | €16,119 | +€8,996 | +126.3% |
| Taxes | 450/3 | €7,123 | €14,919 | +€7,796 | +109.4% |
| Remuneration and social security | 454/9 | - | €1,200 | +€1,200 | |
| Other amounts payable | 47/48 | €2,600 | €42,262 | +€39,662 | +1525.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,314 | €10,784 | +€470 | +4.6% |
| Other operating charges | 640/8 | €1,399 | €1,437 | +€38 | +2.7% |
| Gross operating margin | 9900 | €17,695 | €46,101 | +€28,406 | +160.5% |
| Operating profit (loss) | 9901 | €5,982 | €33,880 | +€27,898 | +466.4% |
| Financial income | 75/76B | €150 | €0 | -€150 | -100.0% |
| Recurring financial income | 75 | €150 | €0 | -€150 | -100.0% |
| Financial charges | 65/66B | €1,300 | €277 | -€1,023 | -78.7% |
| Recurring financial charges | 65 | €1,300 | €277 | -€1,023 | -78.7% |
| Profit (loss) for the period before taxes | 9903 | €4,833 | €33,604 | +€28,771 | +595.3% |
| Income taxes | 67/77 | €1,447 | €7,280 | +€5,834 | +403.3% |
| Profit (loss) for the period | 9904 | €3,386 | €26,323 | +€22,937 | +677.4% |
| Profit (loss) for the period to be appropriated | 9905 | €3,386 | €26,323 | +€22,937 | +677.4% |
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 12 October 2026 via checked.be.