LUVENO: 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.
LUVENO
Largest movements
- Cash -€85,054
down €85,054 (-41.6%), from €204,585 to €119,532
mainly Debts after one year (-€97,244) and Net result for the year (-€74,877)
- Tangible fixed assets -€44,661
down €44,661 (-1.4%), from €3.3m to €3.2m
- Debts after one year -€97,244
down €97,244 (-5.0%), from €1.9m to €1.8m
- Profit (loss) carried forward -€59,653
down €59,653 (-83.0%), from -€71,884 to -€131,537
- Other debts +€37,707
up €37,707 (+30.8%), from €122,351 to €160,058
- Gross operating margin -€25,286
down €25,286 (-22.0%), from €114,922 to €89,636
- Other operating charges +€6,058
up €6,058 (+160.9%), from €3,766 to €9,824
- Financial charges -€5,562
down €5,562 (-7.9%), from €70,684 to €65,123
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 | €3,482,185 | €3,359,970 | -€122,215 | -3.5% |
| Fixed assets | 21/28 | €3,277,600 | €3,232,939 | -€44,661 | -1.4% |
| Tangible fixed assets | 22/27 | €3,277,219 | €3,232,558 | -€44,661 | -1.4% |
| Land and buildings | 22 | €3,277,219 | €3,232,558 | -€44,661 | -1.4% |
| Financial fixed assets | 28 | €381 | €381 | = | 0.0% |
| Current assets | 29/58 | €204,585 | €127,032 | -€77,554 | -37.9% |
| Amounts receivable within one year | 40/41 | - | €7,500 | +€7,500 | |
| Trade receivables | 40 | - | €7,500 | +€7,500 | |
| Cash at bank and in hand | 54/58 | €204,585 | €119,532 | -€85,054 | -41.6% |
| Total equity and liabilities | 10/49 | €3,482,185 | €3,359,970 | -€122,215 | -3.5% |
| Equity | 10/15 | €1,167,401 | €1,092,524 | -€74,877 | -6.4% |
| Contributions | 10/11 | €775,000 | €775,000 | = | 0.0% |
| Capital | 10 | €775,000 | €775,000 | = | 0.0% |
| Issued capital | 100 | €775,000 | €775,000 | = | 0.0% |
| Reserves | 13 | €464,285 | €449,061 | -€15,224 | -3.3% |
| Non-distributable reserves | 130/1 | €3,645 | €3,645 | = | 0.0% |
| Legal reserve | 130 | €3,645 | €3,645 | = | 0.0% |
| Tax-exempt reserves | 132 | €460,640 | €445,416 | -€15,224 | -3.3% |
| Profit (loss) carried forward | 14 | -€71,884 | -€131,537 | -€59,653 | -83.0% |
| Provisions and deferred taxes | 16 | €153,547 | €148,472 | -€5,075 | -3.3% |
| Deferred taxes | 168 | €153,547 | €148,472 | -€5,075 | -3.3% |
| Amounts payable | 17/49 | €2,161,237 | €2,118,974 | -€42,263 | -2.0% |
| Amounts payable after more than one year | 17 | €1,942,388 | €1,845,143 | -€97,244 | -5.0% |
| Financial debts | 170/4 | €1,942,388 | €1,845,143 | -€97,244 | -5.0% |
| Amounts payable within one year | 42/48 | €218,849 | €273,831 | +€54,981 | +25.1% |
| Current portion of amounts payable after more than one year | 42 | €96,498 | €97,312 | +€814 | +0.8% |
| Taxes, remuneration and social security | 45 | - | €16,461 | +€16,461 | |
| Taxes | 450/3 | - | €16,461 | +€16,461 | |
| Other amounts payable | 47/48 | €122,351 | €160,058 | +€37,707 | +30.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,527 | €94,641 | +€115 | +0.1% |
| Other operating charges | 640/8 | €3,766 | €9,824 | +€6,058 | +160.9% |
| Gross operating margin | 9900 | €114,922 | €89,636 | -€25,286 | -22.0% |
| Operating profit (loss) | 9901 | €16,630 | -€14,829 | -€31,459 | |
| Financial charges | 65/66B | €70,684 | €65,123 | -€5,562 | -7.9% |
| Recurring financial charges | 65 | €70,684 | €65,123 | -€5,562 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | -€54,055 | -€79,952 | -€25,897 | -47.9% |
| Transfer from deferred taxes | 780 | €5,075 | €5,075 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€48,980 | -€74,877 | -€25,897 | -52.9% |
| Transfer from tax-exempt reserves | 789 | €15,224 | €15,224 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,756 | -€59,653 | -€25,897 | -76.7% |
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 2 October 2026 via checked.be.