LUVERKO: what changed
LUVERKO
Largest movements
- Receivables within one year +€20,288
up €20,288 (+60.3%), from €33,640 to €53,928
of which Other amounts receivable: +€21,034
- Tangible fixed assets +€17,445
up €17,445 (+120%), from €14,569 to €32,015
- Cash -€9,757
down €9,757 (-98.9%), from €9,862 to €104
mainly Trade debts (-€51,524) and Investment in fixed assets (net) (-€35,168)
- Other debts +€120,968
up €120,968 (+332%), from €36,431 to €157,399
- Trade debts -€51,524
no longer reported in 2025 (was €51,524)
- Profit (loss) carried forward -€17,873
down €17,873 (-63.4%), from €28,181 to €10,307
- Accrued charges and deferred income -€16,699
no longer reported in 2025 (was €16,699)
- Tax, wage and social debts -€7,041
down €7,041 (-75.0%), from €9,383 to €2,342
of which Taxes: -€7,041
- Gross operating margin -€13,116
down €13,116 (-91.9%), from €14,275 to €1,160
- Depreciation +€5,947
up €5,947 (+50.5%), from €11,776 to €17,723
- Financial charges -€3,211
down €3,211 (-85.9%), from €3,736 to €525
- Taxes -€1,472
down €1,472 (-61.4%), from €2,400 to €927
- Other operating charges -€739
down €739 (-27.6%), from €2,674 to €1,935
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €254,721 | €285,438 | +€30,717 | +12.1% |
| Fixed assets | 21/28 | €211,219 | €228,665 | +€17,445 | +8.3% |
| Tangible fixed assets | 22/27 | €14,569 | €32,015 | +€17,445 | +120% |
| Furniture and vehicles | 24 | €14,569 | €32,015 | +€17,445 | +120% |
| Financial fixed assets | 28 | €196,650 | €196,650 | = | 0.0% |
| Current assets | 29/58 | €43,501 | €56,773 | +€13,272 | +30.5% |
| Amounts receivable within one year | 40/41 | €33,640 | €53,928 | +€20,288 | +60.3% |
| Trade receivables | 40 | €745 | - | -€745 | |
| Other amounts receivable | 41 | €32,894 | €53,928 | +€21,034 | +63.9% |
| Cash at bank and in hand | 54/58 | €9,862 | €104 | -€9,757 | -98.9% |
| Deferred charges and accrued income | 490/1 | €0 | €2,741 | +€2,741 | |
| Total equity and liabilities | 10/49 | €254,721 | €285,438 | +€30,717 | +12.1% |
| Equity | 10/15 | €140,684 | €122,811 | -€17,873 | -12.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €100,104 | €100,104 | = | 0.0% |
| Distributable reserves | 133 | €100,104 | €100,104 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,181 | €10,307 | -€17,873 | -63.4% |
| Amounts payable | 17/49 | €114,036 | €162,627 | +€48,590 | +42.6% |
| Amounts payable within one year | 42/48 | €97,337 | €162,627 | +€65,289 | +67.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €0 | €2,886 | +€2,886 | |
| Credit institutions | 430/8 | €0 | €2,886 | +€2,886 | |
| Trade debts | 44 | €51,524 | - | -€51,524 | |
| Suppliers | 440/4 | €51,524 | - | -€51,524 | |
| Taxes, remuneration and social security | 45 | €9,383 | €2,342 | -€7,041 | -75.0% |
| Taxes | 450/3 | €9,383 | €2,342 | -€7,041 | -75.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €36,431 | €157,399 | +€120,968 | +332% |
| Accrued charges and deferred income | 492/3 | €16,699 | - | -€16,699 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,776 | €17,723 | +€5,947 | +50.5% |
| Other operating charges | 640/8 | €2,674 | €1,935 | -€739 | -27.6% |
| Gross operating margin | 9900 | €14,275 | €1,160 | -€13,116 | -91.9% |
| Operating profit (loss) | 9901 | -€175 | -€18,498 | -€18,323 | -10,465% |
| Financial income | 75/76B | €1,512 | €2,077 | +€566 | +37.4% |
| Recurring financial income | 75 | €1,512 | €2,077 | +€566 | +37.4% |
| Financial charges | 65/66B | €3,736 | €525 | -€3,211 | -85.9% |
| Recurring financial charges | 65 | €3,736 | €525 | -€3,211 | -85.9% |
| Profit (loss) for the period before taxes | 9903 | -€2,399 | -€16,946 | -€14,547 | -606% |
| Income taxes | 67/77 | €2,400 | €927 | -€1,472 | -61.4% |
| Profit (loss) for the period | 9904 | -€4,799 | -€17,873 | -€13,074 | -272% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,799 | -€17,873 | -€13,074 | -272% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.