LUTRA: 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.
What changed
LUTRA
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€33,527
2024 · €36,454-€2,926
Equity
€617,081
2024 · €792,126-€175,044
Cash
€462
2024 · €57,765-€57,303
Balance sheet total
€2.0m
2024 · €2.0m-€61,627
Largest movements
Assets
- Cash -€57,303
down €57,303 (-99.2%), from €57,765 to €462
mainly Contributions, distributions and other (-€208,571) and Investment in fixed assets (net) (-€51,844)
Equity and liabilities
- Reserves -€175,044
down €175,044 (-22.4%), from €779,726 to €604,681
of which Distributable reserves: -€159,814
- Other debts +€121,943
up €121,943 (+56.3%), from €216,629 to €338,571
- Trade debts +€46,023
up €46,023, from €0 to €46,023
- Debts after one year -€34,137
down €34,137 (-4.1%), from €832,859 to €798,722
Income statement
- Financial charges +€10,588
up €10,588 (+38.6%), from €27,447 to €38,035
- Gross operating margin +€10,500
up €10,500 (+9.2%), from €113,722 to €124,222
- Financial income -€3,082
down €3,082 (-25.4%), from €12,118 to €9,036
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.
Result 2024
€36,454
Gross operating margin
+€10,500
Depreciation
-€588
Other operating charges
-€219
Financial income
-€3,082
Financial charges
-€10,588
Taxes
+€982
Deferred taxes and other
+€70
Result 2025
€33,527
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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.
From operations
+€235,835
Investment
-€51,844
Financing
-€241,294
Cash 2024
€57,765
From operations (derived)
+€235,835
Net result for the year
+€33,527
Depreciation
+€46,381
Receivables within one year
+€13,198
Deferred charges and accrued income
-€3,411
Provisions
-€5,077
Trade debts
+€46,023
Tax, wage and social debts
-€14,934
Other debts
+€121,943
Accrued charges and deferred income
-€1,815
Investment (derived)
-€51,844
Investment in fixed assets (net)
-€51,844
Financing
-€241,294
Debts after one year
-€34,137
Current portion of long-term debt
+€1,413
Contributions, distributions and other
-€208,571
Cash 2025
€462
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,027,695 | €1,966,068 | -€61,627 | -3.0% |
| Fixed assets | 21/28 | €1,773,071 | €1,778,533 | +€5,462 | +0.3% |
| Tangible fixed assets | 22/27 | €1,772,671 | €1,778,133 | +€5,462 | +0.3% |
| Land and buildings | 22 | €1,728,876 | €1,745,588 | +€16,712 | +1.0% |
| Furniture and vehicles | 24 | €43,795 | €32,546 | -€11,249 | -25.7% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €254,624 | €187,535 | -€67,089 | -26.3% |
| Amounts receivable within one year | 40/41 | €195,491 | €182,294 | -€13,198 | -6.8% |
| Trade receivables | 40 | €1,000 | €14,000 | +€13,000 | +1,300% |
| Other amounts receivable | 41 | €194,491 | €168,294 | -€26,197 | -13.5% |
| Cash at bank and in hand | 54/58 | €57,765 | €462 | -€57,303 | -99.2% |
| Deferred charges and accrued income | 490/1 | €1,368 | €4,779 | +€3,411 | +249% |
| Total equity and liabilities | 10/49 | €2,027,695 | €1,966,068 | -€61,627 | -3.0% |
| Equity | 10/15 | €792,126 | €617,081 | -€175,044 | -22.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €779,726 | €604,681 | -€175,044 | -22.4% |
| Tax-exempt reserves | 132 | €375,533 | €360,303 | -€15,230 | -4.1% |
| Distributable reserves | 133 | €404,193 | €244,378 | -€159,814 | -39.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €125,178 | €120,101 | -€5,077 | -4.1% |
| Deferred taxes | 168 | €125,178 | €120,101 | -€5,077 | -4.1% |
| Amounts payable | 17/49 | €1,110,392 | €1,228,886 | +€118,494 | +10.7% |
| Amounts payable after more than one year | 17 | €832,859 | €798,722 | -€34,137 | -4.1% |
| Financial debts | 170/4 | €832,859 | €798,722 | -€34,137 | -4.1% |
| Amounts payable within one year | 42/48 | €275,719 | €430,164 | +€154,445 | +56.0% |
| Current portion of amounts payable after more than one year | 42 | €32,723 | €34,137 | +€1,413 | +4.3% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €0 | €46,023 | +€46,023 | |
| Suppliers | 440/4 | €0 | €46,023 | +€46,023 | |
| Taxes, remuneration and social security | 45 | €26,367 | €11,433 | -€14,934 | -56.6% |
| Taxes | 450/3 | €26,367 | €11,433 | -€14,934 | -56.6% |
| Other amounts payable | 47/48 | €216,629 | €338,571 | +€121,943 | +56.3% |
| Accrued charges and deferred income | 492/3 | €1,815 | €0 | -€1,815 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,793 | €46,381 | +€588 | +1.3% |
| Other operating charges | 640/8 | €1,911 | €2,130 | +€219 | +11.4% |
| Gross operating margin | 9900 | €113,722 | €124,222 | +€10,500 | +9.2% |
| Operating profit (loss) | 9901 | €66,018 | €75,710 | +€9,692 | +14.7% |
| Financial income | 75/76B | €12,118 | €9,036 | -€3,082 | -25.4% |
| Recurring financial income | 75 | €12,118 | €9,036 | -€3,082 | -25.4% |
| Financial charges | 65/66B | €27,447 | €38,035 | +€10,588 | +38.6% |
| Recurring financial charges | 65 | €27,447 | €38,035 | +€10,588 | +38.6% |
| Profit (loss) for the period before taxes | 9903 | €50,689 | €46,711 | -€3,978 | -7.8% |
| Transfer from deferred taxes | 780 | €5,007 | €5,077 | +€70 | +1.4% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €19,243 | €18,261 | -€982 | -5.1% |
| Profit (loss) for the period | 9904 | €36,454 | €33,527 | -€2,926 | -8.0% |
| Transfer from tax-exempt reserves | 789 | €15,021 | €15,230 | +€209 | +1.4% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €51,475 | €48,757 | -€2,718 | -5.3% |
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 14 October 2026 via checked.be.