Luzmo: 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.
Luzmo
Largest movements
- Current investments -€1.9m
down €1.9m (-55.2%), from €3.4m to €1.5m
- Receivables within one year +€669,742
up €669,742 (+27.1%), from €2.5m to €3.1m
of which Other amounts receivable: +€719,385
- Cash +€594,271
up €594,271 (+56.2%), from €1.1m to €1.7m
mainly Current investments (+€1.9m) and Accrued charges and deferred income (+€94,483)
- Deferred charges and accrued income +€97,660
up €97,660 (+78.9%), from €123,718 to €221,378
- Profit (loss) carried forward -€615,134
down €615,134 (-9.3%), from -€6.6m to -€7.2m
- Accrued charges and deferred income +€94,483
up €94,483 (+8.3%), from €1.1m to €1.2m
- Gross operating margin +€1.9m
up €1.9m, from -€1.2m to €739,455
- Financial income -€226,630
down €226,630 (-69.9%), from €324,394 to €97,764
- Staff costs -€125,820
down €125,820 (-9.0%), from €1.4m to €1.3m
- Financial charges +€50,910
up €50,910 (+135.1%), from €37,687 to €88,597
- Other operating charges -€25,369
down €25,369 (-60.9%), from €41,684 to €16,315
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 | €7,221,382 | €6,667,193 | -€554,189 | -7.7% |
| Fixed assets | 21/28 | €217,737 | €151,875 | -€65,863 | -30.2% |
| Intangible fixed assets | 21 | €76,549 | €27,966 | -€48,583 | -63.5% |
| Tangible fixed assets | 22/27 | €111,443 | €94,163 | -€17,280 | -15.5% |
| Furniture and vehicles | 24 | €27,100 | €21,423 | -€5,677 | -20.9% |
| Other tangible fixed assets | 26 | €84,343 | €72,740 | -€11,603 | -13.8% |
| Financial fixed assets | 28 | €29,745 | €29,745 | = | 0.0% |
| Current assets | 29/58 | €7,003,644 | €6,515,318 | -€488,326 | -7.0% |
| Amounts receivable within one year | 40/41 | €2,472,808 | €3,142,551 | +€669,742 | +27.1% |
| Trade receivables | 40 | €511,800 | €462,157 | -€49,643 | -9.7% |
| Other amounts receivable | 41 | €1,961,009 | €2,680,394 | +€719,385 | +36.7% |
| Current investments | 50/53 | €3,350,000 | €1,500,000 | -€1.9m | -55.2% |
| Cash at bank and in hand | 54/58 | €1,057,118 | €1,651,389 | +€594,271 | +56.2% |
| Deferred charges and accrued income | 490/1 | €123,718 | €221,378 | +€97,660 | +78.9% |
| Total equity and liabilities | 10/49 | €7,221,382 | €6,667,193 | -€554,189 | -7.7% |
| Equity | 10/15 | €5,497,975 | €4,882,841 | -€615,134 | -11.2% |
| Contributions | 10/11 | €12,130,210 | €12,130,210 | = | 0.0% |
| Capital | 10 | €145,755 | €145,755 | = | 0.0% |
| Issued capital | 100 | €145,755 | €145,755 | = | 0.0% |
| Contributions outside capital | 11 | €11,984,455 | €11,984,455 | = | 0.0% |
| Share premium | 1100/10 | €11,984,455 | €11,984,455 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,632,235 | -€7,247,370 | -€615,134 | -9.3% |
| Amounts payable | 17/49 | €1,723,407 | €1,784,352 | +€60,945 | +3.5% |
| Amounts payable within one year | 42/48 | €582,078 | €548,540 | -€33,537 | -5.8% |
| Financial debts | 43 | €9,937 | €12,731 | +€2,794 | +28.1% |
| Credit institutions | 430/8 | €9,937 | €12,731 | +€2,794 | +28.1% |
| Trade debts | 44 | €370,475 | €361,545 | -€8,931 | -2.4% |
| Suppliers | 440/4 | €370,475 | €361,545 | -€8,931 | -2.4% |
| Taxes, remuneration and social security | 45 | €201,665 | €174,264 | -€27,401 | -13.6% |
| Taxes | 450/3 | €43,937 | €36,072 | -€7,866 | -17.9% |
| Remuneration and social security | 454/9 | €157,728 | €138,193 | -€19,535 | -12.4% |
| Accrued charges and deferred income | 492/3 | €1,141,329 | €1,235,812 | +€94,483 | +8.3% |
| Non-recurring operating income | 76A | - | €500 | +€500 | |
| Remuneration, social security and pensions | 62 | €1,402,219 | €1,276,399 | -€125,820 | -9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,058 | €70,873 | -€6,185 | -8.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€21,189 | €0 | +€21,189 | |
| Other operating charges | 640/8 | €41,684 | €16,315 | -€25,369 | -60.9% |
| Gross operating margin | 9900 | -€1,206,672 | €739,455 | +€1.9m | |
| Operating profit (loss) | 9901 | -€2,706,445 | -€624,132 | +€2.1m | +76.9% |
| Financial income | 75/76B | €324,394 | €97,764 | -€226,630 | -69.9% |
| Recurring financial income | 75 | €324,394 | €97,764 | -€226,630 | -69.9% |
| Financial charges | 65/66B | €37,687 | €88,597 | +€50,910 | +135.1% |
| Recurring financial charges | 65 | €37,687 | €88,597 | +€50,910 | +135.1% |
| Profit (loss) for the period before taxes | 9903 | -€2,419,739 | -€614,966 | +€1.8m | +74.6% |
| Income taxes | 67/77 | €178 | €169 | -€9 | -5.3% |
| Profit (loss) for the period | 9904 | -€2,419,917 | -€615,134 | +€1.8m | +74.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,419,917 | -€615,134 | +€1.8m | +74.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.