Lipa Holding: what changed
Two fiscal 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.
What changed
Lipa Holding
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€194,647
2024 · -€34,740-€159,907
Equity
€1.5m
2024 · €1.7m-€194,647
Cash
€2,410
2024 · €25,449-€23,039
Balance sheet total
€11.3m
2024 · €11.3m-€26,551
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Profit (loss) carried forward -€194,647
down €194,647 (-21.6%), from -€902,389 to -€1.1m
Income statement
- Financial income -€58,371
down €58,371 (-25.1%), from €232,478 to €174,107
- Gross operating margin -€49,554
down €49,554 (-53.5%), from -€92,693 to -€142,246
- Financial charges +€23,421
up €23,421 (+14.2%), from €164,382 to €187,802
- Other operating charges +€18,033
up €18,033 (+187.2%), from €9,631 to €27,664
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.
Result 2024
-€34,740
Gross operating margin
-€49,554
Depreciation
+€512
Other operating charges
-€18,033
Other operating items
-€12,338
Financial income
-€58,371
Financial charges
-€23,421
Taxes
+€1,297
Result 2025
-€194,647
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.
From operations
-€23,039
Investment
€0
Financing
€0
Cash 2024
€25,449
From operations (derived)
-€23,039
Net result for the year
-€194,647
Receivables after one year
-€26,825
Receivables within one year
+€31,298
Deferred charges and accrued income
-€961
Trade debts
+€31,368
Tax, wage and social debts
-€481
Other debts
+€109,350
Accrued charges and deferred income
+€27,858
Cash 2025
€2,410
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,289,239 | €11,262,688 | -€26,551 | -0.2% |
| Fixed assets | 21/28 | €2,189,788 | €2,189,788 | = | 0.0% |
| Financial fixed assets | 28 | €2,189,788 | €2,189,788 | = | 0.0% |
| Current assets | 29/58 | €9,099,451 | €9,072,899 | -€26,551 | -0.3% |
| Amounts receivable after more than one year | 29 | €707,926 | €734,750 | +€26,825 | +3.8% |
| Other amounts receivable | 291 | €707,926 | €734,750 | +€26,825 | +3.8% |
| Amounts receivable within one year | 40/41 | €8,366,076 | €8,334,779 | -€31,298 | -0.4% |
| Trade receivables | 40 | €23,079 | €95,017 | +€71,938 | +311.7% |
| Other amounts receivable | 41 | €8,342,997 | €8,239,762 | -€103,235 | -1.2% |
| Cash at bank and in hand | 54/58 | €25,449 | €2,410 | -€23,039 | -90.5% |
| Deferred charges and accrued income | 490/1 | - | €961 | +€961 | |
| Total equity and liabilities | 10/49 | €11,289,239 | €11,262,688 | -€26,551 | -0.2% |
| Equity | 10/15 | €1,710,111 | €1,515,464 | -€194,647 | -11.4% |
| Contributions | 10/11 | €2,375,000 | €2,375,000 | = | 0.0% |
| Capital | 10 | €2,375,000 | €2,375,000 | = | 0.0% |
| Issued capital | 100 | €2,375,000 | €2,375,000 | = | 0.0% |
| Reserves | 13 | €237,500 | €237,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €237,500 | €237,500 | = | 0.0% |
| Legal reserve | 130 | €237,500 | €237,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€902,389 | -€1,097,036 | -€194,647 | -21.6% |
| Amounts payable | 17/49 | €9,579,128 | €9,747,223 | +€168,095 | +1.8% |
| Amounts payable after more than one year | 17 | €2,728,249 | €2,728,249 | = | 0.0% |
| Financial debts | 170/4 | €2,728,249 | €2,728,249 | = | 0.0% |
| Amounts payable within one year | 42/48 | €6,746,862 | €6,887,099 | +€140,237 | +2.1% |
| Financial debts | 43 | €150,000 | €150,000 | = | 0.0% |
| Credit institutions | 430/8 | €150,000 | €150,000 | = | 0.0% |
| Trade debts | 44 | €164,764 | €196,132 | +€31,368 | +19.0% |
| Suppliers | 440/4 | €164,764 | €196,132 | +€31,368 | +19.0% |
| Taxes, remuneration and social security | 45 | €1,297 | €816 | -€481 | -37.1% |
| Taxes | 450/3 | €1,297 | €816 | -€481 | -37.1% |
| Other amounts payable | 47/48 | €6,430,802 | €6,540,152 | +€109,350 | +1.7% |
| Accrued charges and deferred income | 492/3 | €104,017 | €131,875 | +€27,858 | +26.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €512 | - | -€512 | |
| Other operating charges | 640/8 | €9,631 | €27,664 | +€18,033 | +187.2% |
| Non-recurring operating charges | 66A | - | €12,338 | +€12,338 | |
| Gross operating margin | 9900 | -€92,693 | -€142,246 | -€49,554 | -53.5% |
| Operating profit (loss) | 9901 | -€102,836 | -€182,248 | -€79,413 | -77.2% |
| Financial income | 75/76B | €232,478 | €174,107 | -€58,371 | -25.1% |
| Recurring financial income | 75 | €232,478 | €174,107 | -€58,371 | -25.1% |
| Financial charges | 65/66B | €164,382 | €187,802 | +€23,421 | +14.2% |
| Recurring financial charges | 65 | €164,382 | €187,802 | +€23,421 | +14.2% |
| Profit (loss) for the period before taxes | 9903 | -€34,740 | -€195,944 | -€161,204 | -464.0% |
| Income taxes | 67/77 | - | -€1,297 | -€1,297 | |
| Profit (loss) for the period | 9904 | -€34,740 | -€194,647 | -€159,907 | -460.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,740 | -€194,647 | -€159,907 | -460.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.