LUVANO: 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.
LUVANO
Largest movements
- Tangible fixed assets +€292,684
up €292,684 (+9.8%), from €3.0m to €3.3m
- Other debts +€148,289
up €148,289 (+317.4%), from €46,720 to €195,009
- Debts after one year +€106,574
up €106,574 (+12.8%), from €831,932 to €938,506
- Gross operating margin -€29,257
down €29,257 (-22.5%), from €130,251 to €100,994
- Depreciation +€12,171
up €12,171 (+81.1%), from €15,000 to €27,171
- Taxes -€8,571
down €8,571 (-55.3%), from €15,486 to €6,915
- Financial charges -€4,397
down €4,397 (-9.4%), from €46,899 to €42,503
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 | €3,034,292 | €3,323,197 | +€288,905 | +9.5% |
| Fixed assets | 21/28 | €2,972,534 | €3,265,219 | +€292,684 | +9.8% |
| Tangible fixed assets | 22/27 | €2,972,534 | €3,265,219 | +€292,684 | +9.8% |
| Land and buildings | 22 | €2,972,534 | €3,265,219 | +€292,684 | +9.8% |
| Current assets | 29/58 | €61,758 | €57,978 | -€3,780 | -6.1% |
| Amounts receivable within one year | 40/41 | €59,498 | €55,720 | -€3,778 | -6.4% |
| Trade receivables | 40 | €4,330 | - | -€4,330 | |
| Other amounts receivable | 41 | €55,168 | €55,720 | +€552 | +1.0% |
| Cash at bank and in hand | 54/58 | €2,260 | €2,258 | -€2 | -0.1% |
| Total equity and liabilities | 10/49 | €3,034,292 | €3,323,197 | +€288,905 | +9.5% |
| Equity | 10/15 | €2,025,605 | €2,039,429 | +€13,824 | +0.7% |
| Contributions | 10/11 | €1,825,000 | €1,825,000 | = | 0.0% |
| Reserves | 13 | €200,605 | €213,800 | +€13,195 | +6.6% |
| Distributable reserves | 133 | €200,605 | €213,800 | +€13,195 | +6.6% |
| Profit (loss) carried forward | 14 | - | €629 | +€629 | |
| Amounts payable | 17/49 | €1,008,687 | €1,283,768 | +€275,081 | +27.3% |
| Amounts payable after more than one year | 17 | €831,932 | €938,506 | +€106,574 | +12.8% |
| Financial debts | 170/4 | €831,932 | €938,506 | +€106,574 | +12.8% |
| Amounts payable within one year | 42/48 | €176,755 | €345,261 | +€168,506 | +95.3% |
| Current portion of amounts payable after more than one year | 42 | €78,697 | €93,594 | +€14,898 | +18.9% |
| Trade debts | 44 | €17,792 | €29,757 | +€11,966 | +67.3% |
| Suppliers | 440/4 | €17,792 | €29,757 | +€11,966 | +67.3% |
| Advances received on contracts in progress | 46 | €4,500 | €4,500 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €29,046 | €22,400 | -€6,646 | -22.9% |
| Taxes | 450/3 | €29,046 | €22,400 | -€6,646 | -22.9% |
| Other amounts payable | 47/48 | €46,720 | €195,009 | +€148,289 | +317.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,000 | €27,171 | +€12,171 | +81.1% |
| Other operating charges | 640/8 | €14,750 | €13,530 | -€1,220 | -8.3% |
| Gross operating margin | 9900 | €130,251 | €100,994 | -€29,257 | -22.5% |
| Operating profit (loss) | 9901 | €100,501 | €60,293 | -€40,208 | -40.0% |
| Financial income | 75/76B | €3,227 | €2,948 | -€279 | -8.7% |
| Recurring financial income | 75 | €3,227 | €2,948 | -€279 | -8.7% |
| Financial charges | 65/66B | €46,899 | €42,503 | -€4,397 | -9.4% |
| Recurring financial charges | 65 | €46,899 | €42,503 | -€4,397 | -9.4% |
| Profit (loss) for the period before taxes | 9903 | €56,829 | €20,738 | -€36,091 | -63.5% |
| Income taxes | 67/77 | €15,486 | €6,915 | -€8,571 | -55.3% |
| Profit (loss) for the period | 9904 | €41,343 | €13,824 | -€27,519 | -66.6% |
| Profit (loss) for the period to be appropriated | 9905 | €41,343 | €13,824 | -€27,519 | -66.6% |
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 5 October 2026 via checked.be.