LUVANCO: 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.
LUVANCO
Largest movements
- Stocks and contracts +€1.0m
up €1.0m (+155.8%), from €651,142 to €1.7m
- Tangible fixed assets +€698,523
up €698,523 (+976.8%), from €71,508 to €770,031
of which Land and buildings: +€712,062
- Cash +€484,865
up €484,865 (+3471.5%), from €13,967 to €498,832
mainly Contributions, distributions and other (+€981,400) and Debts after one year (+€902,800)
- Receivables within one year -€134,984
down €134,984 (-64.8%), from €208,451 to €73,467
of which Trade receivables: -€132,033
- Contributions +€981,400
up €981,400 (+5276.3%), from €18,600 to €1.0m
- Debts after one year +€902,800
up €902,800 (+112.8%), from €800,000 to €1.7m
- Other debts +€443,470
up €443,470 (+18529.5%), from €2,393 to €445,863
- Profit (loss) carried forward -€289,792
down €289,792 (-50.5%), from -€574,191 to -€863,984
- Gross operating margin -€122,603
down €122,603, from €48,895 to -€73,708
- Depreciation +€23,775
up €23,775 (+121.2%), from €19,620 to €43,394
- Other operating charges +€10,984
up €10,984 (+514.2%), from €2,136 to €13,120
- Staff costs +€8,306
up €8,306 (+6.7%), from €123,131 to €131,437
- Financial charges +€1,797
up €1,797 (+7.1%), from €25,336 to €27,133
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 | €953,541 | €3,020,025 | +€2.1m | +216.7% |
| Fixed assets | 21/28 | €77,438 | €775,961 | +€698,523 | +902.0% |
| Tangible fixed assets | 22/27 | €71,508 | €770,031 | +€698,523 | +976.8% |
| Land and buildings | 22 | €10,077 | €722,138 | +€712,062 | +7066.3% |
| Plant, machinery and equipment | 23 | €34,551 | €26,796 | -€7,754 | -22.4% |
| Furniture and vehicles | 24 | €26,880 | €21,096 | -€5,784 | -21.5% |
| Financial fixed assets | 28 | €5,930 | €5,930 | = | 0.0% |
| Current assets | 29/58 | €876,103 | €2,244,064 | +€1.4m | +156.1% |
| Stocks and contracts in progress | 3 | €651,142 | €1,665,697 | +€1.0m | +155.8% |
| Stocks | 30/36 | €651,142 | €1,665,697 | +€1.0m | +155.8% |
| Amounts receivable within one year | 40/41 | €208,451 | €73,467 | -€134,984 | -64.8% |
| Trade receivables | 40 | €193,471 | €61,438 | -€132,033 | -68.2% |
| Other amounts receivable | 41 | €14,980 | €12,029 | -€2,951 | -19.7% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €13,967 | €498,832 | +€484,865 | +3471.5% |
| Deferred charges and accrued income | 490/1 | €2,544 | €6,068 | +€3,525 | +138.6% |
| Total equity and liabilities | 10/49 | €953,541 | €3,020,025 | +€2.1m | +216.7% |
| Equity | 10/15 | -€352,508 | €339,100 | +€691,608 | |
| Contributions | 10/11 | €18,600 | €1,000,000 | +€981,400 | +5276.3% |
| Reserves | 13 | €203,084 | €203,084 | = | 0.0% |
| Distributable reserves | 133 | €203,084 | €203,084 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€574,191 | -€863,984 | -€289,792 | -50.5% |
| Amounts payable | 17/49 | €1,306,049 | €2,680,925 | +€1.4m | +105.3% |
| Amounts payable after more than one year | 17 | €800,000 | €1,702,800 | +€902,800 | +112.8% |
| Financial debts | 170/4 | €800,000 | €1,702,800 | +€902,800 | +112.8% |
| Amounts payable within one year | 42/48 | €506,049 | €978,126 | +€472,077 | +93.3% |
| Financial debts | 43 | €470,000 | €470,000 | = | 0.0% |
| Credit institutions | 430/8 | €470,000 | €470,000 | = | 0.0% |
| Trade debts | 44 | €13,622 | €30,207 | +€16,586 | +121.8% |
| Suppliers | 440/4 | €13,622 | €30,207 | +€16,586 | +121.8% |
| Taxes, remuneration and social security | 45 | €20,033 | €32,055 | +€12,022 | +60.0% |
| Taxes | 450/3 | €2,658 | €9,487 | +€6,829 | +257.0% |
| Remuneration and social security | 454/9 | €17,376 | €22,569 | +€5,193 | +29.9% |
| Other amounts payable | 47/48 | €2,393 | €445,863 | +€443,470 | +18529.5% |
| Remuneration, social security and pensions | 62 | €123,131 | €131,437 | +€8,306 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,620 | €43,394 | +€23,775 | +121.2% |
| Other operating charges | 640/8 | €2,136 | €13,120 | +€10,984 | +514.2% |
| Gross operating margin | 9900 | €48,895 | -€73,708 | -€122,603 | |
| Operating profit (loss) | 9901 | -€95,992 | -€261,659 | -€165,667 | -172.6% |
| Financial income | 75/76B | €1,206 | €20 | -€1,186 | -98.3% |
| Recurring financial income | 75 | €1,206 | €20 | -€1,186 | -98.3% |
| Financial charges | 65/66B | €25,336 | €27,133 | +€1,797 | +7.1% |
| Recurring financial charges | 65 | €25,336 | €27,133 | +€1,797 | +7.1% |
| Profit (loss) for the period before taxes | 9903 | -€120,122 | -€288,771 | -€168,650 | -140.4% |
| Income taxes | 67/77 | €1,296 | €1,021 | -€275 | -21.2% |
| Profit (loss) for the period | 9904 | -€121,418 | -€289,792 | -€168,375 | -138.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€121,418 | -€289,792 | -€168,375 | -138.7% |
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.