LUBRY: 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.
LUBRY
Largest movements
- Stocks and contracts +€577,494
up €577,494 (+37.2%), from €1.6m to €2.1m
- Cash +€23,240
up €23,240 (+157%), from €14,761 to €38,002
mainly Debts after one year (+€476,800) and Other debts (+€115,686)
- Debts after one year +€476,800
up €476,800 (+39.8%), from €1.2m to €1.7m
- Other debts +€115,686
up €115,686 (+42.1%), from €274,787 to €390,474
- Tax, wage and social debts -€23,604
down €23,604 (-43.2%), from €54,697 to €31,093
of which Taxes: -€24,445
- Gross operating margin +€24,963
up €24,963 (+20.3%), from €122,765 to €147,728
- Other operating charges +€12,999
up €12,999 (+51.5%), from €25,259 to €38,258
- Staff costs +€12,460
up €12,460 (+84.0%), from €14,836 to €27,296
- Financial charges -€4,236
down €4,236 (-6.4%), from €65,757 to €61,521
- Taxes +€2,688
up €2,688 (+83.9%), from €3,203 to €5,892
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 | €1,647,186 | €2,248,688 | +€601,502 | +36.5% |
| Fixed assets | 21/28 | €4,257 | €3,058 | -€1,200 | -28.2% |
| Intangible fixed assets | 21 | €1,108 | €558 | -€550 | -49.7% |
| Tangible fixed assets | 22/27 | €650 | - | -€650 | |
| Furniture and vehicles | 24 | €650 | - | -€650 | |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €1,642,929 | €2,245,631 | +€602,702 | +36.7% |
| Stocks and contracts in progress | 3 | €1,552,603 | €2,130,096 | +€577,494 | +37.2% |
| Contracts in progress | 37 | €1,552,603 | €2,130,096 | +€577,494 | +37.2% |
| Amounts receivable within one year | 40/41 | €75,565 | €77,532 | +€1,968 | +2.6% |
| Trade receivables | 40 | €75,120 | €75,120 | = | 0.0% |
| Other amounts receivable | 41 | €445 | €2,413 | +€1,968 | +442% |
| Cash at bank and in hand | 54/58 | €14,761 | €38,002 | +€23,240 | +157% |
| Total equity and liabilities | 10/49 | €1,647,186 | €2,248,688 | +€601,502 | +36.5% |
| Equity | 10/15 | €97,779 | €111,341 | +€13,562 | +13.9% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €47,779 | €61,341 | +€13,562 | +28.4% |
| Distributable reserves | 133 | €47,779 | €61,341 | +€13,562 | +28.4% |
| Amounts payable | 17/49 | €1,549,407 | €2,137,347 | +€587,940 | +37.9% |
| Amounts payable after more than one year | 17 | €1,196,950 | €1,673,750 | +€476,800 | +39.8% |
| Financial debts | 170/4 | €1,196,950 | €1,673,750 | +€476,800 | +39.8% |
| Amounts payable within one year | 42/48 | €352,457 | €463,597 | +€111,140 | +31.5% |
| Current portion of amounts payable after more than one year | 42 | €1,042 | - | -€1,042 | |
| Trade debts | 44 | €21,931 | €42,030 | +€20,099 | +91.6% |
| Suppliers | 440/4 | €21,931 | €42,030 | +€20,099 | +91.6% |
| Taxes, remuneration and social security | 45 | €54,697 | €31,093 | -€23,604 | -43.2% |
| Taxes | 450/3 | €51,595 | €27,150 | -€24,445 | -47.4% |
| Remuneration and social security | 454/9 | €3,102 | €3,943 | +€841 | +27.1% |
| Other amounts payable | 47/48 | €274,787 | €390,474 | +€115,686 | +42.1% |
| Remuneration, social security and pensions | 62 | €14,836 | €27,296 | +€12,460 | +84.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,086 | €1,200 | -€887 | -42.5% |
| Other operating charges | 640/8 | €25,259 | €38,258 | +€12,999 | +51.5% |
| Gross operating margin | 9900 | €122,765 | €147,728 | +€24,963 | +20.3% |
| Operating profit (loss) | 9901 | €80,584 | €80,975 | +€391 | +0.5% |
| Financial income | 75/76B | €1,190 | - | -€1,190 | |
| Recurring financial income | 75 | €1,190 | - | -€1,190 | |
| Financial charges | 65/66B | €65,757 | €61,521 | -€4,236 | -6.4% |
| Recurring financial charges | 65 | €65,757 | €61,521 | -€4,236 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | €16,017 | €19,454 | +€3,437 | +21.5% |
| Income taxes | 67/77 | €3,203 | €5,892 | +€2,688 | +83.9% |
| Profit (loss) for the period | 9904 | €12,814 | €13,562 | +€749 | +5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €12,814 | €13,562 | +€749 | +5.8% |
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 13 October 2026 via checked.be.