LUVAN: what changed
LUVAN
Largest movements
- Receivables after one year -€50,000
down €50,000 (-100%), from €50,000 to €0
of which Other amounts receivable: -€50,000
- Cash +€20,102
up €20,102 (+13.1%), from €153,905 to €174,007
mainly Receivables after one year (+€50,000) and Net result for the year (+€38,956)
- Receivables within one year +€19,059
up €19,059 (+104%), from €18,401 to €37,460
of which Other amounts receivable: +€20,310
- Tangible fixed assets -€8,885
down €8,885 (-6.1%), from €145,230 to €136,345
- Reserves -€71,429
down €71,429 (-51.9%), from €137,698 to €66,270
of which Distributable reserves: -€71,429
- Profit (loss) carried forward +€38,956
up €38,956 (+64.7%), from €60,234 to €99,190
- Tax, wage and social debts +€19,560
up €19,560 (+66.9%), from €29,241 to €48,800
- Other debts -€6,296
down €6,296 (-8.1%), from €77,446 to €71,150
- Gross operating margin +€3,630
up €3,630 (+5.8%), from €62,544 to €66,174
- Financial income +€1,232
new in 2025: €1,232
- Taxes +€990
up €990 (+7.5%), from €13,191 to €14,181
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 | €368,070 | €348,375 | -€19,695 | -5.4% |
| Fixed assets | 21/28 | €145,230 | €136,345 | -€8,885 | -6.1% |
| Tangible fixed assets | 22/27 | €145,230 | €136,345 | -€8,885 | -6.1% |
| Land and buildings | 22 | €145,230 | €136,345 | -€8,885 | -6.1% |
| Current assets | 29/58 | €222,840 | €212,030 | -€10,810 | -4.9% |
| Amounts receivable after more than one year | 29 | €50,000 | €0 | -€50,000 | -100% |
| Trade receivables | 290 | €0 | - | = | |
| Other amounts receivable | 291 | €50,000 | €0 | -€50,000 | -100% |
| Amounts receivable within one year | 40/41 | €18,401 | €37,460 | +€19,059 | +104% |
| Trade receivables | 40 | €1,251 | €0 | -€1,251 | -100% |
| Other amounts receivable | 41 | €17,150 | €37,460 | +€20,310 | +118% |
| Cash at bank and in hand | 54/58 | €153,905 | €174,007 | +€20,102 | +13.1% |
| Deferred charges and accrued income | 490/1 | €534 | €563 | +€29 | +5.5% |
| Total equity and liabilities | 10/49 | €368,070 | €348,375 | -€19,695 | -5.4% |
| Equity | 10/15 | €259,932 | €227,460 | -€32,472 | -12.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €137,698 | €66,270 | -€71,429 | -51.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,184 | €37,184 | = | 0.0% |
| Distributable reserves | 133 | €94,314 | €22,886 | -€71,429 | -75.7% |
| Profit (loss) carried forward | 14 | €60,234 | €99,190 | +€38,956 | +64.7% |
| Amounts payable | 17/49 | €108,138 | €120,915 | +€12,777 | +11.8% |
| Amounts payable within one year | 42/48 | €107,288 | €120,065 | +€12,777 | +11.9% |
| Trade debts | 44 | €601 | €115 | -€486 | -80.9% |
| Suppliers | 440/4 | €601 | €115 | -€486 | -80.9% |
| Taxes, remuneration and social security | 45 | €29,241 | €48,800 | +€19,560 | +66.9% |
| Taxes | 450/3 | €29,241 | €48,800 | +€19,560 | +66.9% |
| Other amounts payable | 47/48 | €77,446 | €71,150 | -€6,296 | -8.1% |
| Accrued charges and deferred income | 492/3 | €850 | €850 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,885 | €8,885 | = | 0.0% |
| Other operating charges | 640/8 | €5,118 | €5,167 | +€49 | +1.0% |
| Gross operating margin | 9900 | €62,544 | €66,174 | +€3,630 | +5.8% |
| Operating profit (loss) | 9901 | €48,541 | €52,121 | +€3,581 | +7.4% |
| Financial income | 75/76B | - | €1,232 | +€1,232 | |
| Recurring financial income | 75 | - | €1,232 | +€1,232 | |
| Financial charges | 65/66B | €161 | €217 | +€55 | +34.4% |
| Recurring financial charges | 65 | €161 | €217 | +€55 | +34.4% |
| Profit (loss) for the period before taxes | 9903 | €48,380 | €53,137 | +€4,758 | +9.8% |
| Income taxes | 67/77 | €13,191 | €14,181 | +€990 | +7.5% |
| Profit (loss) for the period | 9904 | €35,189 | €38,956 | +€3,767 | +10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €35,189 | €38,956 | +€3,767 | +10.7% |
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.