LUGIN: what changed
Two fiscal 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.
LUGIN
Largest movements
- Receivables after one year +€10,000
new in 2025: €10,000
- Tangible fixed assets -€7,189
down €7,189 (-20.7%), from €34,812 to €27,623
of which Furniture and vehicles: -€7,189
- Other debts +€13,967
up €13,967 (+402.1%), from €3,473 to €17,440
- Debts after one year -€7,959
down €7,959 (-32.7%), from €24,349 to €16,390
- Tax, wage and social debts -€4,070
down €4,070 (-23.1%), from €17,608 to €13,538
of which Taxes: -€4,070
- Reserves +€3,048
up €3,048 (+5.7%), from €53,286 to €56,333
- Accrued charges and deferred income -€1,407
down €1,407 (-94.4%), from €1,490 to €83
- Gross operating margin -€19,004
down €19,004 (-33.7%), from €56,382 to €37,377
- Taxes -€7,466
down €7,466 (-46.1%), from €16,188 to €8,722
- Depreciation +€758
up €758 (+8.8%), from €8,584 to €9,341
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.
Cash bridge derived
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 | €130,948 | €135,031 | +€4,083 | +3.1% |
| Fixed assets | 21/28 | €34,862 | €27,673 | -€7,189 | -20.6% |
| Tangible fixed assets | 22/27 | €34,812 | €27,623 | -€7,189 | -20.7% |
| Furniture and vehicles | 24 | €34,812 | €27,623 | -€7,189 | -20.7% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €96,087 | €107,359 | +€11,272 | +11.7% |
| Amounts receivable after more than one year | 29 | - | €10,000 | +€10,000 | |
| Other amounts receivable | 291 | - | €10,000 | +€10,000 | |
| Amounts receivable within one year | 40/41 | €15,643 | €16,150 | +€507 | +3.2% |
| Trade receivables | 40 | €12,341 | €8,557 | -€3,784 | -30.7% |
| Other amounts receivable | 41 | €3,303 | €7,593 | +€4,291 | +129.9% |
| Cash at bank and in hand | 54/58 | €79,937 | €80,307 | +€370 | +0.5% |
| Deferred charges and accrued income | 490/1 | €507 | €902 | +€395 | +77.9% |
| Total equity and liabilities | 10/49 | €130,948 | €135,031 | +€4,083 | +3.1% |
| Equity | 10/15 | €73,349 | €76,396 | +€3,048 | +4.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €53,286 | €56,333 | +€3,048 | +5.7% |
| Distributable reserves | 133 | €53,286 | €56,333 | +€3,048 | +5.7% |
| Profit (loss) carried forward | 14 | €1,463 | €1,463 | = | 0.0% |
| Amounts payable | 17/49 | €57,600 | €58,635 | +€1,035 | +1.8% |
| Amounts payable after more than one year | 17 | €24,349 | €16,390 | -€7,959 | -32.7% |
| Financial debts | 170/4 | €24,349 | €16,390 | -€7,959 | -32.7% |
| Amounts payable within one year | 42/48 | €31,761 | €42,163 | +€10,402 | +32.7% |
| Current portion of amounts payable after more than one year | 42 | €6,451 | €7,360 | +€909 | +14.1% |
| Trade debts | 44 | €4,230 | €3,824 | -€405 | -9.6% |
| Suppliers | 440/4 | €4,230 | €3,824 | -€405 | -9.6% |
| Taxes, remuneration and social security | 45 | €17,608 | €13,538 | -€4,070 | -23.1% |
| Taxes | 450/3 | €15,758 | €11,688 | -€4,070 | -25.8% |
| Remuneration and social security | 454/9 | €1,850 | €1,850 | = | 0.0% |
| Other amounts payable | 47/48 | €3,473 | €17,440 | +€13,967 | +402.1% |
| Accrued charges and deferred income | 492/3 | €1,490 | €83 | -€1,407 | -94.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,584 | €9,341 | +€758 | +8.8% |
| Other operating charges | 640/8 | €1,222 | €751 | -€471 | -38.5% |
| Non-recurring operating charges | 66A | - | €298 | +€298 | |
| Gross operating margin | 9900 | €56,382 | €37,377 | -€19,004 | -33.7% |
| Operating profit (loss) | 9901 | €46,576 | €26,986 | -€19,589 | -42.1% |
| Financial income | 75/76B | €190 | €186 | -€4 | -2.0% |
| Recurring financial income | 75 | €190 | €186 | -€4 | -2.0% |
| Financial charges | 65/66B | €1,832 | €1,435 | -€397 | -21.7% |
| Recurring financial charges | 65 | €1,832 | €1,435 | -€397 | -21.7% |
| Profit (loss) for the period before taxes | 9903 | €44,933 | €25,737 | -€19,196 | -42.7% |
| Income taxes | 67/77 | €16,188 | €8,722 | -€7,466 | -46.1% |
| Profit (loss) for the period | 9904 | €28,745 | €17,015 | -€11,730 | -40.8% |
| Profit (loss) for the period to be appropriated | 9905 | €28,745 | €17,015 | -€11,730 | -40.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.