LUCAL: 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.
LUCAL
Largest movements
- Tangible fixed assets +€145,743
up €145,743 (+41.8%), from €349,023 to €494,766
of which Land and buildings: +€148,653
- Cash -€22,589
down €22,589 (-48.4%), from €46,677 to €24,088
mainly Investment in fixed assets (net) (-€223,190) and Net result for the year (-€13,002)
- Stocks and contracts -€5,687
down €5,687 (-38.1%), from €14,936 to €9,249
- Debts after one year +€124,382
up €124,382 (+110%), from €113,378 to €237,761
of which Financial debts: +€124,382
- Current portion of long-term debt +€11,199
up €11,199 (+31.1%), from €35,994 to €47,193
- Profit (loss) carried forward -€11,143
new in 2025: -€11,143
- Tax, wage and social debts -€8,788
down €8,788 (-67.8%), from €12,966 to €4,179
of which Taxes: -€7,295
- Trade debts +€7,293
up €7,293, from €0 to €7,293
- Gross operating margin -€90,965
down €90,965 (-54.8%), from €166,060 to €75,095
- Taxes -€23,304
down €23,304 (-99.3%), from €23,474 to €170
- Depreciation +€4,979
up €4,979 (+6.9%), from €72,468 to €77,447
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 | €417,605 | €538,632 | +€121,027 | +29.0% |
| Fixed assets | 21/28 | €349,135 | €494,878 | +€145,743 | +41.7% |
| Tangible fixed assets | 22/27 | €349,023 | €494,766 | +€145,743 | +41.8% |
| Land and buildings | 22 | €277,638 | €426,291 | +€148,653 | +53.5% |
| Plant, machinery and equipment | 23 | €30,810 | €28,099 | -€2,711 | -8.8% |
| Furniture and vehicles | 24 | €40,575 | €40,376 | -€199 | -0.5% |
| Financial fixed assets | 28 | €112 | €112 | = | 0.0% |
| Current assets | 29/58 | €68,470 | €43,754 | -€24,716 | -36.1% |
| Stocks and contracts in progress | 3 | €14,936 | €9,249 | -€5,687 | -38.1% |
| Stocks | 30/36 | €14,936 | €9,249 | -€5,687 | -38.1% |
| Amounts receivable within one year | 40/41 | €5,097 | €7,199 | +€2,102 | +41.2% |
| Trade receivables | 40 | €1,622 | €450 | -€1,172 | -72.3% |
| Other amounts receivable | 41 | €3,475 | €6,749 | +€3,274 | +94.2% |
| Cash at bank and in hand | 54/58 | €46,677 | €24,088 | -€22,589 | -48.4% |
| Deferred charges and accrued income | 490/1 | €1,761 | €3,218 | +€1,458 | +82.8% |
| Total equity and liabilities | 10/49 | €417,605 | €538,632 | +€121,027 | +29.0% |
| Equity | 10/15 | €209,946 | €192,444 | -€17,502 | -8.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €191,346 | €184,987 | -€6,359 | -3.3% |
| Distributable reserves | 133 | €191,346 | €184,987 | -€6,359 | -3.3% |
| Profit (loss) carried forward | 14 | - | -€11,143 | -€11,143 | |
| Amounts payable | 17/49 | €207,659 | €346,188 | +€138,529 | +66.7% |
| Amounts payable after more than one year | 17 | €113,378 | €237,761 | +€124,382 | +110% |
| Financial debts | 170/4 | €48,378 | €172,761 | +€124,382 | +257% |
| Other amounts payable | 178/9 | €65,000 | €65,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €94,281 | €104,760 | +€10,479 | +11.1% |
| Current portion of amounts payable after more than one year | 42 | €35,994 | €47,193 | +€11,199 | +31.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €0 | €7,293 | +€7,293 | |
| Suppliers | 440/4 | €0 | €7,293 | +€7,293 | |
| Taxes, remuneration and social security | 45 | €12,966 | €4,179 | -€8,788 | -67.8% |
| Taxes | 450/3 | €8,955 | €1,660 | -€7,295 | -81.5% |
| Remuneration and social security | 454/9 | €4,011 | €2,519 | -€1,492 | -37.2% |
| Other amounts payable | 47/48 | €45,320 | €46,095 | +€775 | +1.7% |
| Accrued charges and deferred income | 492/3 | €0 | €3,667 | +€3,667 | |
| Remuneration, social security and pensions | 62 | €500 | €500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,468 | €77,447 | +€4,979 | +6.9% |
| Other operating charges | 640/8 | €4,129 | €3,614 | -€515 | -12.5% |
| Gross operating margin | 9900 | €166,060 | €75,095 | -€90,965 | -54.8% |
| Operating profit (loss) | 9901 | €88,963 | -€6,467 | -€95,430 | |
| Financial income | 75/76B | €90 | €82 | -€8 | -9.3% |
| Recurring financial income | 75 | €90 | €82 | -€8 | -9.3% |
| Financial charges | 65/66B | €5,445 | €6,447 | +€1,001 | +18.4% |
| Recurring financial charges | 65 | €5,445 | €6,447 | +€1,001 | +18.4% |
| Profit (loss) for the period before taxes | 9903 | €83,607 | -€12,832 | -€96,439 | |
| Income taxes | 67/77 | €23,474 | €170 | -€23,304 | -99.3% |
| Profit (loss) for the period | 9904 | €60,133 | -€13,002 | -€73,135 | |
| Profit (loss) for the period to be appropriated | 9905 | €60,133 | -€13,002 | -€73,135 |
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 26 October 2026 via checked.be.