LUWELCO: what changed
Two financial 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.
LUWELCO
Largest movements
- Cash +€113,154
up €113,154 (+24.8%), from €455,731 to €568,885
mainly Other debts (+€166,346) and Net result for the year (+€120,785)
- Stocks and contracts -€26,631
down €26,631 (-46.8%), from €56,876 to €30,246
- Receivables within one year +€14,225
up €14,225 (+10.6%), from €133,756 to €147,981
of which Trade receivables: +€11,098
- Tangible fixed assets +€9,109
up €9,109 (+23.7%), from €38,453 to €47,562
of which Other tangible fixed assets: +€7,211
- Other debts +€166,346
new in 2025: €166,346
- Reserves -€45,561
down €45,561 (-7.4%), from €615,735 to €570,174
of which Distributable reserves: -€45,561
- Trade debts -€27,737
down €27,737 (-82.0%), from €33,819 to €6,082
- Tax, wage and social debts +€16,864
up €16,864 (+93.7%), from €18,002 to €34,866
- Gross operating margin +€31,554
up €31,554 (+22.4%), from €140,654 to €172,208
- Taxes +€10,662
up €10,662 (+27.2%), from €39,193 to €49,855
- Financial income +€2,071
up €2,071 (+49.5%), from €4,182 to €6,253
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.
Derived cash bridge
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 | €686,156 | €796,068 | +€109,912 | +16.0% |
| Fixed assets | 21/28 | €38,453 | €47,562 | +€9,109 | +23.7% |
| Tangible fixed assets | 22/27 | €38,453 | €47,562 | +€9,109 | +23.7% |
| Plant, machinery and equipment | 23 | - | €1,898 | +€1,898 | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €38,453 | €45,664 | +€7,211 | +18.8% |
| Current assets | 29/58 | €647,703 | €748,506 | +€100,803 | +15.6% |
| Stocks and contracts in progress | 3 | €56,876 | €30,246 | -€26,631 | -46.8% |
| Stocks | 30/36 | €56,876 | €30,246 | -€26,631 | -46.8% |
| Amounts receivable within one year | 40/41 | €133,756 | €147,981 | +€14,225 | +10.6% |
| Trade receivables | 40 | €111,838 | €122,936 | +€11,098 | +9.9% |
| Other amounts receivable | 41 | €21,918 | €25,044 | +€3,126 | +14.3% |
| Cash at bank and in hand | 54/58 | €455,731 | €568,885 | +€113,154 | +24.8% |
| Deferred charges and accrued income | 490/1 | €1,340 | €1,394 | +€55 | +4.1% |
| Total equity and liabilities | 10/49 | €686,156 | €796,068 | +€109,912 | +16.0% |
| Equity | 10/15 | €634,335 | €588,774 | -€45,561 | -7.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €615,735 | €570,174 | -€45,561 | -7.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €615,735 | €570,174 | -€45,561 | -7.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €51,821 | €207,294 | +€155,473 | +300% |
| Amounts payable within one year | 42/48 | €51,821 | €207,294 | +€155,473 | +300% |
| Trade debts | 44 | €33,819 | €6,082 | -€27,737 | -82.0% |
| Suppliers | 440/4 | €33,819 | €6,082 | -€27,737 | -82.0% |
| Taxes, remuneration and social security | 45 | €18,002 | €34,866 | +€16,864 | +93.7% |
| Taxes | 450/3 | €18,002 | €34,866 | +€16,864 | +93.7% |
| Other amounts payable | 47/48 | - | €166,346 | +€166,346 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,579 | €6,072 | -€508 | -7.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €1,696 | €1,599 | -€97 | -5.7% |
| Gross operating margin | 9900 | €140,654 | €172,208 | +€31,554 | +22.4% |
| Operating profit (loss) | 9901 | €132,379 | €164,538 | +€32,159 | +24.3% |
| Financial income | 75/76B | €4,182 | €6,253 | +€2,071 | +49.5% |
| Recurring financial income | 75 | €4,182 | €6,253 | +€2,071 | +49.5% |
| Financial charges | 65/66B | €144 | €151 | +€8 | +5.4% |
| Recurring financial charges | 65 | €144 | €151 | +€8 | +5.4% |
| Profit (loss) for the period before taxes | 9903 | €136,417 | €170,640 | +€34,223 | +25.1% |
| Income taxes | 67/77 | €39,193 | €49,855 | +€10,662 | +27.2% |
| Profit (loss) for the period | 9904 | €97,224 | €120,785 | +€23,560 | +24.2% |
| Profit (loss) for the period to be appropriated | 9905 | €97,224 | €120,785 | +€23,560 | +24.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.