LUGANO DESIGN: 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.
LUGANO DESIGN
Largest movements
- Receivables within one year -€584,760
down €584,760 (-56.6%), from €1.0m to €449,006
of which Trade receivables: -€567,056
- Tangible fixed assets -€118,624
down €118,624 (-38.4%), from €308,928 to €190,303
of which Land and buildings: -€109,192
- Cash +€93,026
up €93,026 (+301%), from €30,884 to €123,910
mainly Receivables within one year (+€584,760) and Investment in fixed assets (net) (+€96,092)
- Trade debts -€363,720
down €363,720 (-81.9%), from €444,217 to €80,497
- Accrued charges and deferred income -€190,304
down €190,304 (-55.6%), from €342,412 to €152,108
- Other debts -€82,865
down €82,865 (-89.2%), from €92,865 to €10,000
- Reserves +€31,217
up €31,217 (+9.5%), from €328,900 to €360,117
- Debts after one year -€31,175
down €31,175 (-34.5%), from €90,339 to €59,164
- Staff costs -€19,100
down €19,100 (-9.2%), from €208,267 to €189,168
- Gross operating margin -€13,155
down €13,155 (-5.1%), from €255,467 to €242,312
- Depreciation -€11,978
down €11,978 (-31.8%), from €37,610 to €25,632
- Taxes +€4,677
up €4,677 (+49.7%), from €9,405 to €14,082
- Financial income +€3,783
up €3,783 (+17.6%), from €21,435 to €25,217
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 | €1,385,723 | €771,969 | -€613,753 | -44.3% |
| Fixed assets | 21/28 | €312,028 | €190,303 | -€121,724 | -39.0% |
| Tangible fixed assets | 22/27 | €308,928 | €190,303 | -€118,624 | -38.4% |
| Land and buildings | 22 | €263,786 | €154,594 | -€109,192 | -41.4% |
| Plant, machinery and equipment | 23 | €41,641 | €32,708 | -€8,933 | -21.5% |
| Furniture and vehicles | 24 | €3,500 | €3,001 | -€499 | -14.3% |
| Financial fixed assets | 28 | €3,100 | - | -€3,100 | |
| Current assets | 29/58 | €1,073,695 | €581,666 | -€492,029 | -45.8% |
| Amounts receivable within one year | 40/41 | €1,033,766 | €449,006 | -€584,760 | -56.6% |
| Trade receivables | 40 | €927,213 | €360,157 | -€567,056 | -61.2% |
| Other amounts receivable | 41 | €106,553 | €88,850 | -€17,704 | -16.6% |
| Cash at bank and in hand | 54/58 | €30,884 | €123,910 | +€93,026 | +301% |
| Deferred charges and accrued income | 490/1 | €9,045 | €8,750 | -€295 | -3.3% |
| Total equity and liabilities | 10/49 | €1,385,723 | €771,969 | -€613,753 | -44.3% |
| Equity | 10/15 | €347,500 | €378,717 | +€31,217 | +9.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €328,900 | €360,117 | +€31,217 | +9.5% |
| Distributable reserves | 133 | €328,900 | €360,117 | +€31,217 | +9.5% |
| Amounts payable | 17/49 | €1,038,223 | €393,252 | -€644,971 | -62.1% |
| Amounts payable after more than one year | 17 | €90,339 | €59,164 | -€31,175 | -34.5% |
| Financial debts | 170/4 | €90,339 | €59,164 | -€31,175 | -34.5% |
| Amounts payable within one year | 42/48 | €605,472 | €181,980 | -€423,492 | -69.9% |
| Current portion of amounts payable after more than one year | 42 | €30,462 | €31,175 | +€713 | +2.3% |
| Trade debts | 44 | €444,217 | €80,497 | -€363,720 | -81.9% |
| Suppliers | 440/4 | €444,217 | €80,497 | -€363,720 | -81.9% |
| Advances received on contracts in progress | 46 | €9,200 | €9,200 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €28,728 | €51,108 | +€22,380 | +77.9% |
| Taxes | 450/3 | €6,695 | €27,296 | +€20,602 | +308% |
| Remuneration and social security | 454/9 | €22,034 | €23,811 | +€1,778 | +8.1% |
| Other amounts payable | 47/48 | €92,865 | €10,000 | -€82,865 | -89.2% |
| Accrued charges and deferred income | 492/3 | €342,412 | €152,108 | -€190,304 | -55.6% |
| Remuneration, social security and pensions | 62 | €208,267 | €189,168 | -€19,100 | -9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,610 | €25,632 | -€11,978 | -31.8% |
| Other operating charges | 640/8 | €7,930 | €4,632 | -€3,298 | -41.6% |
| Gross operating margin | 9900 | €255,467 | €242,312 | -€13,155 | -5.1% |
| Operating profit (loss) | 9901 | €1,660 | €22,880 | +€21,220 | +1,278% |
| Financial income | 75/76B | €21,435 | €25,217 | +€3,783 | +17.6% |
| Recurring financial income | 75 | €21,435 | €25,217 | +€3,783 | +17.6% |
| Financial charges | 65/66B | €5,786 | €2,798 | -€2,988 | -51.6% |
| Recurring financial charges | 65 | €5,786 | €2,798 | -€2,988 | -51.6% |
| Profit (loss) for the period before taxes | 9903 | €17,308 | €45,299 | +€27,991 | +162% |
| Income taxes | 67/77 | €9,405 | €14,082 | +€4,677 | +49.7% |
| Profit (loss) for the period | 9904 | €7,903 | €31,217 | +€23,314 | +295% |
| Profit (loss) for the period to be appropriated | 9905 | €7,903 | €31,217 | +€23,314 | +295% |
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 29 October 2026 via checked.be.