LUWAPI: 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.
LUWAPI
Largest movements
- Cash +€100,118
up €100,118 (+93.4%), from €107,249 to €207,368
mainly Trade debts (+€121,210) and Short-term financial debts (+€56,861)
- Receivables after one year +€95,500
up €95,500 (+55.4%), from €172,457 to €267,957
- Tangible fixed assets +€51,337
up €51,337 (+404.6%), from €12,687 to €64,025
of which Furniture and vehicles: +€55,135
- Receivables within one year +€42,085
up €42,085 (+42.9%), from €98,058 to €140,143
of which Trade receivables: +€23,080
- Intangible fixed assets -€9,264
down €9,264 (-11.8%), from €78,732 to €69,468
- Trade debts +€121,210
new in 2024: €121,210
- Short-term financial debts +€56,861
up €56,861 (+32.4%), from €175,639 to €232,500
- Tax, wage and social debts +€49,935
up €49,935 (+31.2%), from €159,913 to €209,848
of which Remuneration and social security: +€48,715
- Debts after one year +€39,942
new in 2024: €39,942
- Current portion of long-term debt +€11,540
new in 2024: €11,540
- Turnover +€107,879
up €107,879 (+6.1%), from €1.8m to €1.9m
- Gross operating margin +€92,440
up €92,440 (+8.4%), from €1.1m to €1.2m
- Staff costs +€48,554
up €48,554 (+4.5%), from €1.1m to €1.1m
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €484,183 | €764,041 | +€279,857 | +57.8% |
| Fixed assets | 21/28 | €93,419 | €135,493 | +€42,074 | +45.0% |
| Intangible fixed assets | 21 | €78,732 | €69,468 | -€9,264 | -11.8% |
| Tangible fixed assets | 22/27 | €12,687 | €64,025 | +€51,337 | +404.6% |
| Plant, machinery and equipment | 23 | €2,016 | €919 | -€1,096 | -54.4% |
| Furniture and vehicles | 24 | €1,000 | €56,135 | +€55,135 | +5514.2% |
| Other tangible fixed assets | 26 | €9,672 | €6,970 | -€2,702 | -27.9% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €390,764 | €628,548 | +€237,784 | +60.9% |
| Amounts receivable after more than one year | 29 | €172,457 | €267,957 | +€95,500 | +55.4% |
| Other amounts receivable | 291 | €172,457 | €267,957 | +€95,500 | +55.4% |
| Amounts receivable within one year | 40/41 | €98,058 | €140,143 | +€42,085 | +42.9% |
| Trade receivables | 40 | €96,767 | €119,847 | +€23,080 | +23.9% |
| Other amounts receivable | 41 | €1,291 | €20,296 | +€19,005 | +1472.4% |
| Cash at bank and in hand | 54/58 | €107,249 | €207,368 | +€100,118 | +93.4% |
| Deferred charges and accrued income | 490/1 | €13,000 | €13,080 | +€80 | +0.6% |
| Total equity and liabilities | 10/49 | €484,183 | €764,041 | +€279,857 | +57.8% |
| Equity | 10/15 | €148,631 | €149,001 | +€370 | +0.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €130,031 | €130,401 | +€370 | +0.3% |
| Amounts payable | 17/49 | €335,552 | €615,039 | +€279,487 | +83.3% |
| Amounts payable after more than one year | 17 | - | €39,942 | +€39,942 | |
| Financial debts | 170/4 | - | €39,942 | +€39,942 | |
| Amounts payable within one year | 42/48 | €335,552 | €575,098 | +€239,546 | +71.4% |
| Current portion of amounts payable after more than one year | 42 | - | €11,540 | +€11,540 | |
| Financial debts | 43 | €175,639 | €232,500 | +€56,861 | +32.4% |
| Credit institutions | 430/8 | €175,639 | €232,500 | +€56,861 | +32.4% |
| Trade debts | 44 | - | €121,210 | +€121,210 | |
| Suppliers | 440/4 | - | €121,210 | +€121,210 | |
| Taxes, remuneration and social security | 45 | €159,913 | €209,848 | +€49,935 | +31.2% |
| Taxes | 450/3 | €1,938 | €3,158 | +€1,220 | +63.0% |
| Remuneration and social security | 454/9 | €157,975 | €206,690 | +€48,715 | +30.8% |
| Turnover | 70 | €1,761,355 | €1,869,234 | +€107,879 | +6.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €662,578 | €678,017 | +€15,439 | +2.3% |
| Remuneration, social security and pensions | 62 | €1,082,687 | €1,131,242 | +€48,554 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,311 | €27,704 | +€14,393 | +108.1% |
| Other operating charges | 640/8 | €2,668 | €12,502 | +€9,834 | +368.7% |
| Gross operating margin | 9900 | €1,098,777 | €1,191,217 | +€92,440 | +8.4% |
| Operating profit (loss) | 9901 | €111 | €19,769 | +€19,659 | +17782.8% |
| Financial income | 75/76B | €2,117 | €2,585 | +€467 | +22.1% |
| Recurring financial income | 75 | €2,117 | €2,585 | +€467 | +22.1% |
| Financial charges | 65/66B | - | €18,335 | +€18,335 | |
| Recurring financial charges | 65 | - | €18,335 | +€18,335 | |
| Profit (loss) for the period before taxes | 9903 | €2,228 | €4,020 | +€1,792 | +80.4% |
| Income taxes | 67/77 | €507 | €3,650 | +€3,142 | +619.8% |
| Profit (loss) for the period | 9904 | €1,721 | €370 | -€1,351 | -78.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,721 | €370 | -€1,351 | -78.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.