LUGOST: 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.
LUGOST
Largest movements
- Tangible fixed assets -€54,654
down €54,654 (-4.3%), from €1.3m to €1.2m
of which Land and buildings: -€41,866
- Cash -€34,635
down €34,635 (-56.0%), from €61,818 to €27,183
mainly Debts after one year (-€235,901) and Deferred charges and accrued income (-€8,666)
- Debts after one year -€235,901
down €235,901 (-57.0%), from €413,727 to €177,826
- Other debts +€146,190
up €146,190 (+25.7%), from €568,978 to €715,168
- Gross operating margin +€12,931
up €12,931 (+18.8%), from €68,800 to €81,732
- Financial charges -€2,332
down €2,332 (-19.6%), from €11,924 to €9,592
- Other operating charges -€1,539
down €1,539 (-15.4%), from €10,025 to €8,486
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 | €1,321,039 | €1,245,640 | -€75,399 | -5.7% |
| Fixed assets | 21/28 | €1,257,870 | €1,203,216 | -€54,654 | -4.3% |
| Tangible fixed assets | 22/27 | €1,257,270 | €1,202,616 | -€54,654 | -4.3% |
| Land and buildings | 22 | €1,229,917 | €1,188,051 | -€41,866 | -3.4% |
| Plant, machinery and equipment | 23 | €3,396 | €2,288 | -€1,108 | -32.6% |
| Furniture and vehicles | 24 | €23,956 | €12,277 | -€11,680 | -48.8% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €63,170 | €42,424 | -€20,746 | -32.8% |
| Amounts receivable within one year | 40/41 | €1,351 | €6,575 | +€5,223 | +386.5% |
| Trade receivables | 40 | €1,126 | €5,437 | +€4,311 | +382.9% |
| Other amounts receivable | 41 | €225 | €1,138 | +€913 | +405.0% |
| Cash at bank and in hand | 54/58 | €61,818 | €27,183 | -€34,635 | -56.0% |
| Deferred charges and accrued income | 490/1 | - | €8,666 | +€8,666 | |
| Total equity and liabilities | 10/49 | €1,321,039 | €1,245,640 | -€75,399 | -5.7% |
| Equity | 10/15 | €301,004 | €309,841 | +€8,837 | +2.9% |
| Contributions | 10/11 | €242,700 | €242,700 | = | 0.0% |
| Reserves | 13 | €52,860 | €52,860 | = | 0.0% |
| Distributable reserves | 133 | €52,860 | €52,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,444 | €14,281 | +€8,837 | +162.3% |
| Amounts payable | 17/49 | €1,020,035 | €935,799 | -€84,236 | -8.3% |
| Amounts payable after more than one year | 17 | €413,727 | €177,826 | -€235,901 | -57.0% |
| Financial debts | 170/4 | €413,727 | €177,826 | -€235,901 | -57.0% |
| Amounts payable within one year | 42/48 | €606,308 | €757,081 | +€150,773 | +24.9% |
| Current portion of amounts payable after more than one year | 42 | €35,372 | €35,893 | +€520 | +1.5% |
| Trade debts | 44 | €375 | €5,640 | +€5,265 | +1403.6% |
| Suppliers | 440/4 | €375 | €5,640 | +€5,265 | +1403.6% |
| Taxes, remuneration and social security | 45 | €1,582 | €381 | -€1,202 | -75.9% |
| Taxes | 450/3 | €1,582 | €381 | -€1,202 | -75.9% |
| Other amounts payable | 47/48 | €568,978 | €715,168 | +€146,190 | +25.7% |
| Accrued charges and deferred income | 492/3 | - | €891 | +€891 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,668 | €54,654 | -€15 | 0.0% |
| Other operating charges | 640/8 | €10,025 | €8,486 | -€1,539 | -15.4% |
| Gross operating margin | 9900 | €68,800 | €81,732 | +€12,931 | +18.8% |
| Operating profit (loss) | 9901 | €4,107 | €18,592 | +€14,485 | +352.7% |
| Financial income | 75/76B | €14 | €0 | -€14 | -100.0% |
| Recurring financial income | 75 | €14 | €0 | -€14 | -100.0% |
| Financial charges | 65/66B | €11,924 | €9,592 | -€2,332 | -19.6% |
| Recurring financial charges | 65 | €11,924 | €9,592 | -€2,332 | -19.6% |
| Profit (loss) for the period before taxes | 9903 | -€7,803 | €9,000 | +€16,803 | |
| Income taxes | 67/77 | €217 | €164 | -€54 | -24.7% |
| Profit (loss) for the period | 9904 | -€8,020 | €8,837 | +€16,857 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,020 | €8,837 | +€16,857 |
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 3 October 2026 via checked.be.