LUCARDI: 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.
LUCARDI
Largest movements
- Cash -€27,877
down €27,877 (-30.7%), from €90,943 to €63,065
mainly Investment in fixed assets (net) (-€120,776) and Other debts (-€21,478)
- Deferred charges and accrued income -€23,036
down €23,036 (-93.8%), from €24,567 to €1,531
- Tangible fixed assets +€21,876
up €21,876 (+2.6%), from €825,719 to €847,595
of which Plant, machinery and equipment: +€26,927
- Other debts -€21,478
down €21,478 (-22.6%), from €95,143 to €73,665
- Debts after one year -€17,274
down €17,274 (-3.0%), from €576,123 to €558,849
- Current portion of long-term debt +€15,776
up €15,776 (+26.0%), from €60,591 to €76,367
- Staff costs +€36,388
up €36,388 (+30.9%), from €117,950 to €154,338
- Gross operating margin +€14,516
up €14,516 (+5.0%), from €290,321 to €304,838
- Depreciation +€9,419
up €9,419 (+10.5%), from €89,481 to €98,900
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 | €1,056,911 | €1,034,484 | -€22,427 | -2.1% |
| Fixed assets | 21/28 | €825,719 | €847,595 | +€21,876 | +2.6% |
| Tangible fixed assets | 22/27 | €825,719 | €847,595 | +€21,876 | +2.6% |
| Land and buildings | 22 | €730,944 | €726,102 | -€4,842 | -0.7% |
| Plant, machinery and equipment | 23 | €42,455 | €69,382 | +€26,927 | +63.4% |
| Furniture and vehicles | 24 | €52,321 | €34,901 | -€17,420 | -33.3% |
| Leasing and similar rights | 25 | - | €17,211 | +€17,211 | |
| Current assets | 29/58 | €231,192 | €186,888 | -€44,303 | -19.2% |
| Stocks and contracts in progress | 3 | €93,607 | €103,285 | +€9,679 | +10.3% |
| Stocks | 30/36 | €93,607 | €103,285 | +€9,679 | +10.3% |
| Amounts receivable within one year | 40/41 | €22,075 | €19,007 | -€3,068 | -13.9% |
| Trade receivables | 40 | €22,075 | €13,426 | -€8,650 | -39.2% |
| Other amounts receivable | 41 | €0 | €5,581 | +€5,581 | |
| Cash at bank and in hand | 54/58 | €90,943 | €63,065 | -€27,877 | -30.7% |
| Deferred charges and accrued income | 490/1 | €24,567 | €1,531 | -€23,036 | -93.8% |
| Total equity and liabilities | 10/49 | €1,056,911 | €1,034,484 | -€22,427 | -2.1% |
| Equity | 10/15 | €271,688 | €275,954 | +€4,266 | +1.6% |
| Contributions | 10/11 | €175,000 | €175,000 | = | 0.0% |
| Reserves | 13 | €96,688 | €100,954 | +€4,266 | +4.4% |
| Distributable reserves | 133 | €96,688 | €100,954 | +€4,266 | +4.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €785,223 | €758,530 | -€26,693 | -3.4% |
| Amounts payable after more than one year | 17 | €576,123 | €558,849 | -€17,274 | -3.0% |
| Financial debts | 170/4 | €576,123 | €558,849 | -€17,274 | -3.0% |
| Amounts payable within one year | 42/48 | €201,744 | €193,612 | -€8,132 | -4.0% |
| Current portion of amounts payable after more than one year | 42 | €60,591 | €76,367 | +€15,776 | +26.0% |
| Trade debts | 44 | €25,317 | €28,810 | +€3,493 | +13.8% |
| Suppliers | 440/4 | €25,317 | €28,810 | +€3,493 | +13.8% |
| Advances received on contracts in progress | 46 | €100 | €150 | +€50 | +50.0% |
| Taxes, remuneration and social security | 45 | €20,593 | €14,620 | -€5,973 | -29.0% |
| Taxes | 450/3 | €11,981 | €8,314 | -€3,666 | -30.6% |
| Remuneration and social security | 454/9 | €8,612 | €6,305 | -€2,307 | -26.8% |
| Other amounts payable | 47/48 | €95,143 | €73,665 | -€21,478 | -22.6% |
| Accrued charges and deferred income | 492/3 | €7,357 | €6,069 | -€1,287 | -17.5% |
| Non-recurring operating income | 76A | €372 | €1,000 | +€628 | +169% |
| Remuneration, social security and pensions | 62 | €117,950 | €154,338 | +€36,388 | +30.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,481 | €98,900 | +€9,419 | +10.5% |
| Other operating charges | 640/8 | €8,190 | €8,828 | +€638 | +7.8% |
| Gross operating margin | 9900 | €290,321 | €304,838 | +€14,516 | +5.0% |
| Operating profit (loss) | 9901 | €74,700 | €42,772 | -€31,928 | -42.7% |
| Financial income | 75/76B | €2,691 | €1,291 | -€1,401 | -52.0% |
| Recurring financial income | 75 | €2,691 | €1,291 | -€1,401 | -52.0% |
| Financial charges | 65/66B | €24,040 | €26,818 | +€2,778 | +11.6% |
| Recurring financial charges | 65 | €24,040 | €26,818 | +€2,778 | +11.6% |
| Profit (loss) for the period before taxes | 9903 | €53,352 | €17,244 | -€36,107 | -67.7% |
| Income taxes | 67/77 | €16,026 | €12,978 | -€3,047 | -19.0% |
| Profit (loss) for the period | 9904 | €37,326 | €4,266 | -€33,060 | -88.6% |
| Profit (loss) for the period to be appropriated | 9905 | €37,326 | €4,266 | -€33,060 | -88.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.