LUBAU: 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.
LUBAU
Largest movements
- Stocks and contracts +€697,031
up €697,031 (+254%), from €274,047 to €971,079
- Cash -€173,869
down €173,869 (-86.0%), from €202,135 to €28,267
mainly Stocks and contracts (-€697,031) and Net result for the year (-€79,881)
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Tangible fixed assets -€43,435
down €43,435 (-10.5%), from €413,151 to €369,716
of which Land and buildings: -€23,157
- Receivables within one year -€27,453
down €27,453 (-58.3%), from €47,126 to €19,674
of which Trade receivables: -€26,588
- Short-term financial debts +€358,350
new in 2025: €358,350
- Other debts +€171,321
up €171,321 (+44.8%), from €382,678 to €553,999
- Profit (loss) carried forward -€79,881
down €79,881 (-40.5%), from €197,326 to €117,444
- Tax, wage and social debts -€61,323
down €61,323 (-96.2%), from €63,747 to €2,425
of which Taxes: -€62,714
- Debts after one year -€30,197
down €30,197 (-11.2%), from €269,874 to €239,678
- Gross operating margin -€140,873
down €140,873 (-58.3%), from €241,722 to €100,849
- Financial charges -€23,447
down €23,447 (-80.6%), from €29,084 to €5,636
of which Financial charges: -€22,460
- Staff costs -€14,738
down €14,738 (-9.7%), from €151,725 to €136,987
- Financial income +€13,994
up €13,994 (+717%), from €1,953 to €15,947
- Depreciation -€6,731
down €6,731 (-11.9%), from €56,479 to €49,748
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.
Derived cash bridge
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 | €1,046,434 | €1,415,458 | +€369,024 | +35.3% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €415,844 | €371,909 | -€43,935 | -10.6% |
| Tangible fixed assets | 22/27 | €413,151 | €369,716 | -€43,435 | -10.5% |
| Land and buildings | 22 | €365,645 | €342,488 | -€23,157 | -6.3% |
| Plant, machinery and equipment | 23 | €25,334 | €14,320 | -€11,014 | -43.5% |
| Furniture and vehicles | 24 | €12,747 | €12,907 | +€160 | +1.3% |
| Leasing and similar rights | 25 | €9,424 | €0 | -€9,424 | -100% |
| Financial fixed assets | 28 | €2,693 | €2,193 | -€500 | -18.6% |
| Current assets | 29/58 | €630,590 | €1,043,549 | +€412,959 | +65.5% |
| Stocks and contracts in progress | 3 | €274,047 | €971,079 | +€697,031 | +254% |
| Stocks | 30/36 | €274,047 | €971,079 | +€697,031 | +254% |
| Amounts receivable within one year | 40/41 | €47,126 | €19,674 | -€27,453 | -58.3% |
| Trade receivables | 40 | €30,754 | €4,166 | -€26,588 | -86.5% |
| Other amounts receivable | 41 | €16,372 | €15,507 | -€865 | -5.3% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €202,135 | €28,267 | -€173,869 | -86.0% |
| Deferred charges and accrued income | 490/1 | €7,281 | €24,530 | +€17,249 | +237% |
| Total equity and liabilities | 10/49 | €1,046,434 | €1,415,458 | +€369,024 | +35.3% |
| Equity | 10/15 | €273,220 | €211,450 | -€61,770 | -22.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €55,004 | €55,004 | = | 0.0% |
| Distributable reserves | 133 | €55,004 | €55,004 | = | 0.0% |
| Profit (loss) carried forward | 14 | €197,326 | €117,444 | -€79,881 | -40.5% |
| Investment grants | 15 | €2,290 | €20,401 | +€18,112 | +791% |
| Amounts payable | 17/49 | €773,214 | €1,204,008 | +€430,794 | +55.7% |
| Amounts payable after more than one year | 17 | €269,874 | €239,678 | -€30,197 | -11.2% |
| Financial debts | 170/4 | €269,874 | €239,678 | -€30,197 | -11.2% |
| Amounts payable within one year | 42/48 | €500,096 | €958,735 | +€458,639 | +91.7% |
| Current portion of amounts payable after more than one year | 42 | €32,340 | €29,560 | -€2,780 | -8.6% |
| Financial debts | 43 | - | €358,350 | +€358,350 | |
| Credit institutions | 430/8 | - | €358,350 | +€358,350 | |
| Trade debts | 44 | €21,330 | €14,400 | -€6,930 | -32.5% |
| Suppliers | 440/4 | €21,330 | €14,400 | -€6,930 | -32.5% |
| Taxes, remuneration and social security | 45 | €63,747 | €2,425 | -€61,323 | -96.2% |
| Taxes | 450/3 | €63,385 | €671 | -€62,714 | -98.9% |
| Remuneration and social security | 454/9 | €363 | €1,754 | +€1,391 | +383% |
| Other amounts payable | 47/48 | €382,678 | €553,999 | +€171,321 | +44.8% |
| Accrued charges and deferred income | 492/3 | €3,244 | €5,596 | +€2,352 | +72.5% |
| Non-recurring operating income | 76A | €16,311 | €5,529 | -€10,783 | -66.1% |
| Remuneration, social security and pensions | 62 | €151,725 | €136,987 | -€14,738 | -9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,479 | €49,748 | -€6,731 | -11.9% |
| Other operating charges | 640/8 | €4,118 | €3,654 | -€464 | -11.3% |
| Non-recurring operating charges | 66A | - | €450 | +€450 | |
| Gross operating margin | 9900 | €241,722 | €100,849 | -€140,873 | -58.3% |
| Operating profit (loss) | 9901 | €29,399 | -€89,991 | -€119,390 | |
| Financial income | 75/76B | €1,953 | €15,947 | +€13,994 | +717% |
| Recurring financial income | 75 | €1,953 | €15,947 | +€13,994 | +717% |
| Financial charges | 65/66B | €29,084 | €5,636 | -€23,447 | -80.6% |
| Recurring financial charges | 65 | €28,097 | €5,636 | -€22,460 | -79.9% |
| Non-recurring financial charges | 66B | €987 | - | -€987 | |
| Profit (loss) for the period before taxes | 9903 | €2,269 | -€79,680 | -€81,949 | |
| Income taxes | 67/77 | €1,426 | €201 | -€1,225 | -85.9% |
| Profit (loss) for the period | 9904 | €842 | -€79,881 | -€80,724 | |
| Profit (loss) for the period to be appropriated | 9905 | €842 | -€79,881 | -€80,724 |
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 22 October 2026 via checked.be.