Lucor Projects: 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.
Lucor Projects
Largest movements
- Receivables within one year +€475,569
up €475,569 (+52,137%), from €912 to €476,481
of which Trade receivables: +€465,939
- Intangible fixed assets +€378,000
new in 2025: €378,000
- Stocks and contracts +€185,202
new in 2025: €185,202
- Cash -€23,200
down €23,200 (-95.5%), from €24,288 to €1,088
mainly Receivables within one year (-€475,569) and Investment in fixed assets (net) (-€443,394)
- Tangible fixed assets +€17,894
up €17,894, from €0 to €17,894
of which Plant, machinery and equipment: +€9,904
- Trade debts +€647,287
up €647,287 (+22,619%), from €2,862 to €650,149
- Advances received +€386,365
new in 2025: €386,365
- Gross operating margin +€72,158
up €72,158 (+4,304%), from €1,676 to €73,834
- Depreciation +€43,000
up €43,000, from €0 to €43,000
- Staff costs +€12,839
new in 2025: €12,839
- Taxes +€7,138
up €7,138 (+9,672%), from €74 to €7,212
- Financial charges +€4,887
up €4,887 (+3,813%), from €128 to €5,016
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 | €25,200 | €1,074,850 | +€1.0m | +4,165% |
| Fixed assets | 21/28 | €0 | €400,394 | +€400,394 | |
| Intangible fixed assets | 21 | - | €378,000 | +€378,000 | |
| Tangible fixed assets | 22/27 | €0 | €17,894 | +€17,894 | |
| Plant, machinery and equipment | 23 | €0 | €9,904 | +€9,904 | |
| Other tangible fixed assets | 26 | - | €7,990 | +€7,990 | |
| Financial fixed assets | 28 | - | €4,500 | +€4,500 | |
| Current assets | 29/58 | €25,200 | €674,457 | +€649,257 | +2,576% |
| Stocks and contracts in progress | 3 | - | €185,202 | +€185,202 | |
| Contracts in progress | 37 | - | €185,202 | +€185,202 | |
| Amounts receivable within one year | 40/41 | €912 | €476,481 | +€475,569 | +52,137% |
| Trade receivables | 40 | - | €465,939 | +€465,939 | |
| Other amounts receivable | 41 | €912 | €10,541 | +€9,629 | +1,056% |
| Cash at bank and in hand | 54/58 | €24,288 | €1,088 | -€23,200 | -95.5% |
| Deferred charges and accrued income | 490/1 | €0 | €11,686 | +€11,686 | |
| Total equity and liabilities | 10/49 | €25,200 | €1,074,850 | +€1.0m | +4,165% |
| Equity | 10/15 | €22,265 | €27,087 | +€4,822 | +21.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €265 | €5,087 | +€4,822 | +1,823% |
| Amounts payable | 17/49 | €2,935 | €1,047,764 | +€1.0m | +35,593% |
| Amounts payable within one year | 42/48 | €2,935 | €1,047,764 | +€1.0m | +35,593% |
| Financial debts | 43 | - | €2,222 | +€2,222 | |
| Credit institutions | 430/8 | - | €2,222 | +€2,222 | |
| Trade debts | 44 | €2,862 | €650,149 | +€647,287 | +22,619% |
| Suppliers | 440/4 | €2,862 | €650,149 | +€647,287 | +22,619% |
| Advances received on contracts in progress | 46 | - | €386,365 | +€386,365 | |
| Taxes, remuneration and social security | 45 | €74 | €9,028 | +€8,955 | +12,134% |
| Taxes | 450/3 | €74 | €7,553 | +€7,479 | +10,134% |
| Remuneration and social security | 454/9 | - | €1,476 | +€1,476 | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €8,145 | €0 | -€8,145 | -100% |
| Remuneration, social security and pensions | 62 | - | €12,839 | +€12,839 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €43,000 | +€43,000 | |
| Other operating charges | 640/8 | €1,210 | €1,082 | -€128 | -10.6% |
| Gross operating margin | 9900 | €1,676 | €73,834 | +€72,158 | +4,304% |
| Operating profit (loss) | 9901 | €467 | €16,913 | +€16,446 | +3,525% |
| Financial income | 75/76B | €0 | €137 | +€137 | +273,740% |
| Recurring financial income | 75 | €0 | €137 | +€137 | +273,740% |
| Financial charges | 65/66B | €128 | €5,016 | +€4,887 | +3,813% |
| Recurring financial charges | 65 | €128 | €5,016 | +€4,887 | +3,813% |
| Profit (loss) for the period before taxes | 9903 | €338 | €12,034 | +€11,696 | +3,456% |
| Income taxes | 67/77 | €74 | €7,212 | +€7,138 | +9,672% |
| Profit (loss) for the period | 9904 | €265 | €4,822 | +€4,558 | +1,723% |
| Profit (loss) for the period to be appropriated | 9905 | €265 | €4,822 | +€4,558 | +1,723% |
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 31 October 2026 via checked.be.