Luwico: what changed
Luwico
Largest movements
- Tangible fixed assets +€375,088
up €375,088 (+36.0%), from €1.0m to €1.4m
of which Land and buildings: +€340,214
- Stocks and contracts +€82,481
up €82,481 (+109%), from €75,611 to €158,092
- Receivables within one year +€26,998
up €26,998 (+119%), from €22,664 to €49,662
of which Trade receivables: +€15,875
- Cash -€22,908
down €22,908 (-73.9%), from €31,003 to €8,095
mainly Investment in fixed assets (net) (-€431,912) and Stocks and contracts (-€82,481)
- Debts after one year +€314,595
up €314,595 (+49.9%), from €630,398 to €944,992
of which Financial debts: +€308,595
- Trade debts +€84,373
up €84,373 (+429%), from €19,689 to €104,062
- Other debts +€39,953
up €39,953 (+21.2%), from €188,117 to €228,070
- Current portion of long-term debt +€24,601
up €24,601 (+52.6%), from €46,804 to €71,405
- Tax, wage and social debts -€22,129
down €22,129 (-98.7%), from €22,409 to €280
- Depreciation -€10,213
down €10,213 (-15.2%), from €67,037 to €56,825
- Financial charges +€3,207
up €3,207 (+10.0%), from €32,199 to €35,406
- Gross operating margin +€3,096
up €3,096 (+2.8%), from €109,824 to €112,919
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 | €1,181,140 | €1,643,349 | +€462,209 | +39.1% |
| Fixed assets | 21/28 | €1,047,987 | €1,423,075 | +€375,088 | +35.8% |
| Tangible fixed assets | 22/27 | €1,042,938 | €1,418,025 | +€375,088 | +36.0% |
| Land and buildings | 22 | €802,028 | €1,142,242 | +€340,214 | +42.4% |
| Plant, machinery and equipment | 23 | €159,830 | €207,151 | +€47,321 | +29.6% |
| Furniture and vehicles | 24 | €27,098 | €23,629 | -€3,468 | -12.8% |
| Leasing and similar rights | 25 | €39,641 | €34,020 | -€5,621 | -14.2% |
| Other tangible fixed assets | 26 | €14,341 | €10,983 | -€3,358 | -23.4% |
| Financial fixed assets | 28 | €5,049 | €5,049 | = | 0.0% |
| Current assets | 29/58 | €133,154 | €220,275 | +€87,121 | +65.4% |
| Stocks and contracts in progress | 3 | €75,611 | €158,092 | +€82,481 | +109% |
| Stocks | 30/36 | €75,611 | €158,092 | +€82,481 | +109% |
| Amounts receivable within one year | 40/41 | €22,664 | €49,662 | +€26,998 | +119% |
| Trade receivables | 40 | €22,664 | €38,539 | +€15,875 | +70.0% |
| Other amounts receivable | 41 | - | €11,123 | +€11,123 | |
| Cash at bank and in hand | 54/58 | €31,003 | €8,095 | -€22,908 | -73.9% |
| Deferred charges and accrued income | 490/1 | €3,875 | €4,426 | +€550 | +14.2% |
| Total equity and liabilities | 10/49 | €1,181,140 | €1,643,349 | +€462,209 | +39.1% |
| Equity | 10/15 | €222,714 | €241,449 | +€18,734 | +8.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €217,714 | €236,449 | +€18,734 | +8.6% |
| Distributable reserves | 133 | €217,714 | €236,449 | +€18,734 | +8.6% |
| Amounts payable | 17/49 | €958,426 | €1,401,901 | +€443,475 | +46.3% |
| Amounts payable after more than one year | 17 | €630,398 | €944,992 | +€314,595 | +49.9% |
| Financial debts | 170/4 | €630,398 | €938,992 | +€308,595 | +49.0% |
| Other amounts payable | 178/9 | - | €6,000 | +€6,000 | |
| Amounts payable within one year | 42/48 | €327,019 | €453,817 | +€126,799 | +38.8% |
| Current portion of amounts payable after more than one year | 42 | €46,804 | €71,405 | +€24,601 | +52.6% |
| Financial debts | 43 | €50,000 | €50,000 | = | 0.0% |
| Credit institutions | 430/8 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €19,689 | €104,062 | +€84,373 | +429% |
| Suppliers | 440/4 | €19,689 | €104,062 | +€84,373 | +429% |
| Taxes, remuneration and social security | 45 | €22,409 | €280 | -€22,129 | -98.7% |
| Taxes | 450/3 | €22,409 | €280 | -€22,129 | -98.7% |
| Other amounts payable | 47/48 | €188,117 | €228,070 | +€39,953 | +21.2% |
| Accrued charges and deferred income | 492/3 | €1,009 | €3,091 | +€2,082 | +206% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,037 | €56,825 | -€10,213 | -15.2% |
| Other operating charges | 640/8 | €1,783 | €1,910 | +€127 | +7.1% |
| Non-recurring operating charges | 66A | €291 | - | -€291 | |
| Gross operating margin | 9900 | €109,824 | €112,919 | +€3,096 | +2.8% |
| Operating profit (loss) | 9901 | €40,712 | €54,185 | +€13,473 | +33.1% |
| Financial income | 75/76B | €999 | €96 | -€903 | -90.4% |
| Recurring financial income | 75 | €999 | €96 | -€903 | -90.4% |
| Financial charges | 65/66B | €32,199 | €35,406 | +€3,207 | +10.0% |
| Recurring financial charges | 65 | €32,199 | €35,406 | +€3,207 | +10.0% |
| Profit (loss) for the period before taxes | 9903 | €9,512 | €18,875 | +€9,363 | +98.4% |
| Income taxes | 67/77 | €140 | €141 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | €9,372 | €18,734 | +€9,362 | +99.9% |
| Profit (loss) for the period to be appropriated | 9905 | €9,372 | €18,734 | +€9,362 | +99.9% |
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 3 November 2026 via checked.be.