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.
LUTRA
Largest movements
- Cash -€82,587
down €82,587 (-35.1%), from €235,270 to €152,683
mainly Receivables within one year (-€59,573) and Investment in fixed assets (net) (-€58,931)
- Receivables within one year +€59,573
up €59,573 (+39.0%), from €152,787 to €212,360
of which Trade receivables: +€61,073
- Deferred charges and accrued income +€11,149
up €11,149 (+1043.4%), from €1,069 to €12,218
- Debts after one year -€30,523
down €30,523 (-17.5%), from €174,324 to €143,802
- Reserves +€25,641
up €25,641 (+8.5%), from €301,957 to €327,598
of which Distributable reserves: +€25,641
- Write-downs -€27,626
no longer reported in 2025 (was €27,626)
- Gross operating margin -€24,293
down €24,293 (-9.3%), from €260,617 to €236,324
- Depreciation +€7,897
up €7,897 (+15.8%), from €49,966 to €57,863
- Other operating charges +€7,275
up €7,275 (+14.6%), from €49,836 to €57,110
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 | €742,535 | €731,739 | -€10,796 | -1.5% |
| Fixed assets | 21/28 | €353,410 | €354,479 | +€1,069 | +0.3% |
| Tangible fixed assets | 22/27 | €352,200 | €353,134 | +€934 | +0.3% |
| Land and buildings | 22 | €185,068 | €175,194 | -€9,874 | -5.3% |
| Plant, machinery and equipment | 23 | €23,908 | €26,868 | +€2,960 | +12.4% |
| Furniture and vehicles | 24 | €143,224 | €151,072 | +€7,847 | +5.5% |
| Financial fixed assets | 28 | €1,210 | €1,345 | +€135 | +11.2% |
| Current assets | 29/58 | €389,125 | €377,261 | -€11,864 | -3.0% |
| Amounts receivable within one year | 40/41 | €152,787 | €212,360 | +€59,573 | +39.0% |
| Trade receivables | 40 | €151,287 | €212,360 | +€61,073 | +40.4% |
| Other amounts receivable | 41 | €1,499 | - | -€1,499 | |
| Cash at bank and in hand | 54/58 | €235,270 | €152,683 | -€82,587 | -35.1% |
| Deferred charges and accrued income | 490/1 | €1,069 | €12,218 | +€11,149 | +1043.4% |
| Total equity and liabilities | 10/49 | €742,535 | €731,739 | -€10,796 | -1.5% |
| Equity | 10/15 | €308,157 | €333,798 | +€25,641 | +8.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €301,957 | €327,598 | +€25,641 | +8.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €300,097 | €325,738 | +€25,641 | +8.5% |
| Amounts payable | 17/49 | €434,378 | €397,942 | -€36,437 | -8.4% |
| Amounts payable after more than one year | 17 | €174,324 | €143,802 | -€30,523 | -17.5% |
| Financial debts | 170/4 | €174,324 | €143,802 | -€30,523 | -17.5% |
| Amounts payable within one year | 42/48 | €260,054 | €254,140 | -€5,914 | -2.3% |
| Financial debts | 43 | €37,928 | €32,552 | -€5,375 | -14.2% |
| Credit institutions | 430/8 | €35,892 | €30,523 | -€5,369 | -15.0% |
| Other loans | 439 | €2,036 | €2,030 | -€6 | -0.3% |
| Trade debts | 44 | €17,515 | €21,599 | +€4,084 | +23.3% |
| Suppliers | 440/4 | €17,515 | €21,599 | +€4,084 | +23.3% |
| Taxes, remuneration and social security | 45 | €54,242 | €48,154 | -€6,088 | -11.2% |
| Taxes | 450/3 | €46,501 | €41,005 | -€5,496 | -11.8% |
| Remuneration and social security | 454/9 | €7,740 | €7,149 | -€592 | -7.6% |
| Other amounts payable | 47/48 | €150,369 | €151,834 | +€1,465 | +1.0% |
| Remuneration, social security and pensions | 62 | €78,811 | €76,830 | -€1,981 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,966 | €57,863 | +€7,897 | +15.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €27,626 | - | -€27,626 | |
| Other operating charges | 640/8 | €49,836 | €57,110 | +€7,275 | +14.6% |
| Gross operating margin | 9900 | €260,617 | €236,324 | -€24,293 | -9.3% |
| Operating profit (loss) | 9901 | €54,378 | €44,521 | -€9,857 | -18.1% |
| Financial income | 75/76B | €0 | €2 | +€2 | +1750.0% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +1750.0% |
| Financial charges | 65/66B | €10,803 | €9,175 | -€1,628 | -15.1% |
| Recurring financial charges | 65 | €10,803 | €9,175 | -€1,628 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | €43,575 | €35,348 | -€8,227 | -18.9% |
| Income taxes | 67/77 | €11,965 | €9,707 | -€2,258 | -18.9% |
| Profit (loss) for the period | 9904 | €31,610 | €25,641 | -€5,969 | -18.9% |
| Profit (loss) for the period to be appropriated | 9905 | €31,610 | €25,641 | -€5,969 | -18.9% |
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 11 October 2026 via checked.be.