LUPA
ActiveFinancials · financial year 2024, micro format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 2 November 2026.
Annual accounts 2024 filed on 28-08-2025 PDF all 29 filings
2020 to 2024, 5 financial years 2018 to 2024, 7 financial years
The operating result for 2024 is 43% lower than in 2023 and the lowest since 2020.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
Use the arrow keys on the chart for the figures per year.
Investments
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Tangible fixed assets | €117,921 | €21,389 | €35,882 | - |
| Depreciation and write-downs of the year | €51,369 | €63,614 | €59,586 | €79,490 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
Companies with the same profile, two years later
Historical observationIn July 2024, 14,766 companies had the same profile as LUPA has now. Two years later, 0.2% had gone bankrupt and 96.2% were still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of LUPA itself: 0.3% within 12 months.
Test of the method
The method was tested on the 497,445 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 14,766 companies, not a prediction for LUPA. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €55 | €0 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €1,920 | €1,920 | €1,760 | €2,168 | ▲ 23.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €43,946 | €44,002 | €49,142 | €51,369 | €63,614 | €59,586 | €79,490 | ▲ 33.4% |
| Other operating charges640/8 | - | - | - | €15,657 | €16,322 | €17,896 | €18,840 | ▲ 5.3% |
| Gross operating margin9900 | €111,711 | €120,730 | €116,255 | €121,247 | €140,808 | €150,722 | €141,379 | ▼ 6.2% |
| Operating profit (loss)9901 | €51,671 | €60,192 | €49,641 | €52,301 | €58,953 | €71,479 | €40,881 | ▼ 42.8% |
| Financial income75/76B | - | - | - | €6,684 | €6,710 | €6,729 | €2,083 | ▼ 69.0% |
| Recurring financial income75 | €2,196 | €3,540 | €5,039 | €6,684 | €6,710 | €6,729 | €2,083 | ▼ 69.0% |
| Financial charges65/66B | - | - | - | €4,507 | €3,996 | €3,484 | €11,326 | ▲ 225% |
| Recurring financial charges65 | €6,062 | €5,565 | €5,068 | €4,507 | €3,996 | €3,484 | €11,326 | ▲ 225% |
| Profit (loss) for the period before taxes9903 | €47,805 | €58,166 | €49,612 | €54,478 | €61,666 | €74,725 | €31,638 | ▼ 57.7% |
| Income taxes67/77 | €15,040 | €21,856 | €12,967 | €11,026 | €18,765 | €23,297 | €10,619 | ▼ 54.4% |
| Profit (loss) for the period9904 | €32,765 | €36,311 | €36,645 | €43,452 | €42,901 | €51,428 | €21,020 | ▼ 59.1% |
| Profit (loss) for the period to be appropriated9905 | €32,765 | €36,311 | €36,645 | €43,452 | €42,901 | €51,428 | €21,020 | ▼ 59.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €749,623 | €788,763 | €794,087 | €839,025 | €846,333 | €880,741 | €819,606 | ▼ 6.9% |
| Fixed assets21/28 | €644,830 | €602,417 | €597,442 | €663,994 | €621,770 | €598,065 | €518,575 | ▼ 13.3% |
| Tangible fixed assets22/27 | €644,830 | €602,417 | €597,442 | €663,994 | €621,770 | €598,065 | €518,575 | ▼ 13.3% |
| Land and buildings22 | - | - | - | €347,270 | €335,629 | €323,988 | €312,347 | ▼ 3.6% |
| Furniture and vehicles24 | - | - | - | €12,354 | €8,654 | €4,954 | €1,254 | ▼ 74.7% |
| Leasing and similar rights25 | - | - | - | €153,125 | €131,250 | €109,375 | €87,500 | ▼ 20.0% |
| Other tangible fixed assets26 | - | - | - | €151,245 | €146,237 | €159,749 | €117,475 | ▼ 26.5% |
| Current assets29/58 | €104,793 | €186,345 | €196,646 | €175,031 | €224,563 | €282,676 | €301,031 | ▲ 6.5% |
| Amounts receivable within one year40/41 | €58,980 | €91,169 | €133,661 | €158,096 | €124,659 | €161,689 | €43,740 | ▼ 72.9% |
| Trade receivables40 | - | - | - | - | - | €1,662 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | €158,096 | €124,659 | €160,027 | €43,740 | ▼ 72.7% |
| Cash at bank and in hand54/58 | €45,813 | €95,176 | €62,984 | €16,935 | €99,905 | €120,987 | €257,292 | ▲ 113% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €749,623 | €788,763 | €794,087 | €839,025 | €846,333 | €880,741 | €819,606 | ▼ 6.9% |
| Equity10/15 | €565,823 | €600,509 | €635,555 | €677,407 | €718,708 | €768,470 | €562,823 | ▼ 26.8% |
| Contributions10/11 | €287,000 | €287,000 | €287,000 | €287,000 | €287,000 | €287,000 | €62,000 | ▼ 78.4% |
| Capital10 | - | - | - | €287,000 | €287,000 | €287,000 | €62,000 | ▼ 78.4% |
| Issued capital100 | - | - | - | €287,000 | €287,000 | €287,000 | €62,000 | ▼ 78.4% |
| Reserves13 | €159,018 | €193,564 | €228,109 | €269,927 | €310,836 | €360,564 | €379,909 | ▲ 5.4% |
| Non-distributable reserves130/1 | - | - | - | €9,450 | €9,450 | €9,450 | €9,450 | = |
| Legal reserve130 | - | - | - | €9,450 | €9,450 | €9,450 | €9,450 | = |
| Distributable reserves133 | - | - | - | €260,477 | €301,386 | €351,114 | €370,459 | ▲ 5.5% |
| Profit (loss) carried forward14 | €119,804 | €119,946 | €120,445 | €120,480 | €120,871 | €120,906 | €120,914 | = |
| Amounts payable17/49 | €183,800 | €188,253 | €158,533 | €161,619 | €127,625 | €112,272 | €256,783 | ▲ 129% |
| Amounts payable after more than one year17 | €156,250 | €140,624 | €124,999 | €109,374 | €93,749 | €78,124 | €62,499 | ▼ 20.0% |
| Financial debts170/4 | - | - | - | €109,374 | €93,749 | €78,124 | €62,499 | ▼ 20.0% |
| Amounts payable within one year42/48 | €27,551 | €44,949 | €33,534 | €52,244 | €33,876 | €34,148 | €194,092 | ▲ 468% |
| Current portion of amounts payable after more than one year42 | - | - | - | €15,625 | €15,625 | €15,625 | €21,473 | ▲ 37.4% |
| Trade debts44 | €996 | €997 | €1,071 | €21,971 | €2,574 | €778 | €1,404 | ▲ 80.5% |
| Suppliers440/4 | - | - | - | €21,971 | €2,574 | €778 | €1,404 | ▲ 80.5% |
| Taxes, remuneration and social security45 | - | - | - | €4,182 | €4,091 | €4,973 | €8,125 | ▲ 63.4% |
| Taxes450/3 | - | - | - | €4,182 | €4,091 | €4,973 | €8,125 | ▲ 63.4% |
| Other amounts payable47/48 | - | - | - | €10,466 | €11,586 | €12,772 | €163,090 | ▲ 13× |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €192 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €32,765 | €36,311 | €36,645 | €43,452 | €42,901 | €51,428 | €21,020 | ▼ 59.1% |
| + Depreciation and write-downs630 | €43,946 | €44,002 | €49,142 | €51,369 | €63,614 | €59,586 | €79,490 | ▲ 33.4% |
| Operating cash flow (approximation) | €76,711 | €80,313 | €85,787 | €94,821 | €106,515 | €111,014 | €100,510 | ▼ 9.5% |
| Investment in fixed assets (approximation) | - | -€1,590 | -€44,166 | -€117,921 | -€21,389 | -€35,882 | €0 | - |
| Change in cash | - | €49,364 | -€32,192 | -€46,050 | €82,970 | €21,082 | €136,305 | ▲ 547% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 29 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | micro format | 28-08-2025 | 2025-00468701 | |
| 31-12-2023 | micro format | 30-07-2024 | 2024-00327157 | |
| 31-12-2022 | micro format | 31-07-2023 | 2023-00309832 | |
| 31-12-2021 | micro format | 29-07-2022 | 2022-20265245 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-64900481 | |
| 31-12-2019 | micro format | 30-09-2020 | 2020-58400295 | |
| 31-12-2018 | micro format | 01-08-2019 | 2019-41700425 | |
| 31-12-2017 | micro format | 31-08-2018 | 2018-61200234 | |
| 31-12-2016 | micro format | 31-08-2017 | 2017-58800004 | |
| 31-12-2015 | abbreviated format | 31-08-2016 | 2016-57600238 |