Luvanor: 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.
Luvanor
Largest movements
- Receivables within one year +€74,159
up €74,159 (+228.3%), from €32,482 to €106,641
of which Other amounts receivable: +€79,521
- Cash -€34,623
down €34,623 (-59.4%), from €58,314 to €23,692
mainly Receivables within one year (-€74,159) and Tax, wage and social debts (-€23,550)
- Reserves +€56,816
up €56,816 (+87.1%), from €65,217 to €122,033
- Tax, wage and social debts -€23,550
down €23,550 (-98.7%), from €23,858 to €308
- Other debts +€3,411
up €3,411 (+517.6%), from €659 to €4,070
- Accrued charges and deferred income +€1,781
up €1,781 (+66.4%), from €2,684 to €4,465
- Gross operating margin -€12,527
down €12,527 (-14.6%), from €85,819 to €73,292
- Taxes -€3,212
down €3,212 (-17.5%), from €18,377 to €15,166
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 | €94,885 | €133,399 | +€38,514 | +40.6% |
| Fixed assets | 21/28 | €3,947 | €2,995 | -€952 | -24.1% |
| Tangible fixed assets | 22/27 | €3,747 | €2,795 | -€952 | -25.4% |
| Plant, machinery and equipment | 23 | €1,729 | €887 | -€843 | -48.7% |
| Other tangible fixed assets | 26 | €2,018 | €1,908 | -€109 | -5.4% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €90,938 | €130,403 | +€39,465 | +43.4% |
| Amounts receivable within one year | 40/41 | €32,482 | €106,641 | +€74,159 | +228.3% |
| Trade receivables | 40 | €10,686 | €5,324 | -€5,362 | -50.2% |
| Other amounts receivable | 41 | €21,796 | €101,317 | +€79,521 | +364.8% |
| Cash at bank and in hand | 54/58 | €58,314 | €23,692 | -€34,623 | -59.4% |
| Deferred charges and accrued income | 490/1 | €142 | €71 | -€71 | -49.9% |
| Total equity and liabilities | 10/49 | €94,885 | €133,399 | +€38,514 | +40.6% |
| Equity | 10/15 | €66,217 | €123,033 | +€56,816 | +85.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €65,217 | €122,033 | +€56,816 | +87.1% |
| Distributable reserves | 133 | €65,217 | €122,033 | +€56,816 | +87.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €28,668 | €10,365 | -€18,303 | -63.8% |
| Amounts payable within one year | 42/48 | €25,984 | €5,900 | -€20,084 | -77.3% |
| Trade debts | 44 | €1,467 | €1,522 | +€55 | +3.8% |
| Suppliers | 440/4 | €1,467 | €1,522 | +€55 | +3.8% |
| Taxes, remuneration and social security | 45 | €23,858 | €308 | -€23,550 | -98.7% |
| Taxes | 450/3 | €23,858 | €308 | -€23,550 | -98.7% |
| Other amounts payable | 47/48 | €659 | €4,070 | +€3,411 | +517.6% |
| Accrued charges and deferred income | 492/3 | €2,684 | €4,465 | +€1,781 | +66.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €964 | €952 | -€12 | -1.2% |
| Other operating charges | 640/8 | €876 | €544 | -€332 | -37.9% |
| Gross operating margin | 9900 | €85,819 | €73,292 | -€12,527 | -14.6% |
| Operating profit (loss) | 9901 | €83,980 | €71,797 | -€12,183 | -14.5% |
| Financial income | 75/76B | €349 | €398 | +€49 | +14.1% |
| Recurring financial income | 75 | €349 | €398 | +€49 | +14.1% |
| Financial charges | 65/66B | €76 | €213 | +€137 | +180.1% |
| Recurring financial charges | 65 | €76 | €213 | +€137 | +180.1% |
| Profit (loss) for the period before taxes | 9903 | €84,253 | €71,982 | -€12,271 | -14.6% |
| Income taxes | 67/77 | €18,377 | €15,166 | -€3,212 | -17.5% |
| Profit (loss) for the period | 9904 | €65,876 | €56,816 | -€9,059 | -13.8% |
| Profit (loss) for the period to be appropriated | 9905 | €65,876 | €56,816 | -€9,059 | -13.8% |
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 3 October 2026 via checked.be.