Luvanko: 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.
Luvanko
Largest movements
- Tangible fixed assets +€185,822
up €185,822 (+39.5%), from €470,649 to €656,471
of which Land and buildings: +€172,210
- Receivables after one year +€100,000
up €100,000 (+12.6%), from €792,201 to €892,201
- Cash -€55,685
down €55,685 (-21.8%), from €255,876 to €200,190
mainly Investment in fixed assets (net) (-€205,366) and Receivables after one year (-€100,000)
- Reserves +€265,854
up €265,854 (+28.7%), from €925,122 to €1.2m
of which Distributable reserves: +€265,854
- Other debts -€36,109
down €36,109 (-17.3%), from €208,272 to €172,163
- Debts after one year -€33,144
down €33,144 (-8.3%), from €400,000 to €366,856
- Current portion of long-term debt +€21,143
new in 2025: €21,143
- Financial income +€232,526
up €232,526 (+967,647%), from €24 to €232,550
of which Non-recurring financial income: +€229,750
- Taxes +€13,061
up €13,061 (+42.6%), from €30,636 to €43,698
- Gross operating margin -€12,456
down €12,456 (-8.7%), from €143,694 to €131,238
- Financial charges +€7,552
up €7,552 (+33.9%), from €22,283 to €29,835
of which Financial charges: +€7,552
- Depreciation +€6,127
up €6,127 (+44.8%), from €13,666 to €19,794
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,568,048 | €1,800,201 | +€232,153 | +14.8% |
| Fixed assets | 21/28 | €471,649 | €657,221 | +€185,572 | +39.3% |
| Tangible fixed assets | 22/27 | €470,649 | €656,471 | +€185,822 | +39.5% |
| Land and buildings | 22 | €470,114 | €642,324 | +€172,210 | +36.6% |
| Plant, machinery and equipment | 23 | €535 | €14,147 | +€13,612 | +2,543% |
| Financial fixed assets | 28 | €1,000 | €750 | -€250 | -25.0% |
| Current assets | 29/58 | €1,096,399 | €1,142,980 | +€46,581 | +4.2% |
| Amounts receivable after more than one year | 29 | €792,201 | €892,201 | +€100,000 | +12.6% |
| Other amounts receivable | 291 | €792,201 | €892,201 | +€100,000 | +12.6% |
| Amounts receivable within one year | 40/41 | €46,360 | €49,173 | +€2,813 | +6.1% |
| Trade receivables | 40 | €46,360 | €47,526 | +€1,166 | +2.5% |
| Other amounts receivable | 41 | €0 | €1,647 | +€1,647 | |
| Cash at bank and in hand | 54/58 | €255,876 | €200,190 | -€55,685 | -21.8% |
| Deferred charges and accrued income | 490/1 | €1,962 | €1,416 | -€546 | -27.8% |
| Total equity and liabilities | 10/49 | €1,568,048 | €1,800,201 | +€232,153 | +14.8% |
| Equity | 10/15 | €937,522 | €1,203,377 | +€265,854 | +28.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €925,122 | €1,190,977 | +€265,854 | +28.7% |
| 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 | €923,262 | €1,189,117 | +€265,854 | +28.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €630,526 | €596,825 | -€33,701 | -5.3% |
| Amounts payable after more than one year | 17 | €400,000 | €366,856 | -€33,144 | -8.3% |
| Financial debts | 170/4 | €400,000 | €366,856 | -€33,144 | -8.3% |
| Amounts payable within one year | 42/48 | €216,555 | €215,769 | -€787 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | - | €21,143 | +€21,143 | |
| Trade debts | 44 | €2,793 | €12,246 | +€9,454 | +338% |
| Suppliers | 440/4 | €2,793 | €12,246 | +€9,454 | +338% |
| Taxes, remuneration and social security | 45 | €5,490 | €10,216 | +€4,726 | +86.1% |
| Taxes | 450/3 | €5,490 | €10,216 | +€4,726 | +86.1% |
| Other amounts payable | 47/48 | €208,272 | €172,163 | -€36,109 | -17.3% |
| Accrued charges and deferred income | 492/3 | €13,970 | €14,200 | +€230 | +1.6% |
| Non-recurring operating income | 76A | €2,990 | €0 | -€2,990 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,666 | €19,794 | +€6,127 | +44.8% |
| Other operating charges | 640/8 | €1,712 | €1,497 | -€215 | -12.6% |
| Non-recurring operating charges | 66A | - | €3,110 | +€3,110 | |
| Gross operating margin | 9900 | €143,694 | €131,238 | -€12,456 | -8.7% |
| Operating profit (loss) | 9901 | €128,315 | €106,837 | -€21,478 | -16.7% |
| Financial income | 75/76B | €24 | €232,550 | +€232,526 | +967,647% |
| Recurring financial income | 75 | €24 | €2,800 | +€2,776 | +11,551% |
| Non-recurring financial income | 76B | - | €229,750 | +€229,750 | |
| Financial charges | 65/66B | €22,283 | €29,835 | +€7,552 | +33.9% |
| Recurring financial charges | 65 | €22,283 | €29,835 | +€7,552 | +33.9% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €106,056 | €309,552 | +€203,495 | +192% |
| Income taxes | 67/77 | €30,636 | €43,698 | +€13,061 | +42.6% |
| Profit (loss) for the period | 9904 | €75,420 | €265,854 | +€190,434 | +252% |
| Profit (loss) for the period to be appropriated | 9905 | €75,420 | €265,854 | +€190,434 | +252% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.