LUKAB: 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.
LUKAB
Largest movements
- Tangible fixed assets +€1.7m
up €1.7m (+81.7%), from €2.1m to €3.8m
of which Land and buildings: +€1.7m
- Cash -€774,442
down €774,442 (-23.1%), from €3.4m to €2.6m
mainly Investment in fixed assets (net) (-€1.9m) and Net result for the year (-€55,454)
- Debts after one year +€1.0m
up €1.0m (+47.3%), from €2.2m to €3.3m
- Gross operating margin -€289,931
down €289,931 (-53.3%), from €543,715 to €253,784
- Taxes -€104,408
down €104,408 (-99.8%), from €104,594 to €186
- Financial income -€77,287
down €77,287 (-65.8%), from €117,526 to €40,239
- Depreciation +€30,263
up €30,263 (+22.2%), from €136,052 to €166,316
- Other operating charges -€13,444
down €13,444 (-29.2%), from €45,972 to €32,528
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 | €5,489,519 | €6,450,722 | +€961,202 | +17.5% |
| Fixed assets | 21/28 | €2,101,824 | €3,819,872 | +€1.7m | +81.7% |
| Tangible fixed assets | 22/27 | €2,101,824 | €3,819,872 | +€1.7m | +81.7% |
| Land and buildings | 22 | €2,099,973 | €3,815,232 | +€1.7m | +81.7% |
| Furniture and vehicles | 24 | €1,851 | €4,641 | +€2,789 | +150.7% |
| Current assets | 29/58 | €3,387,695 | €2,630,849 | -€756,846 | -22.3% |
| Amounts receivable within one year | 40/41 | €34,290 | €51,886 | +€17,596 | +51.3% |
| Other amounts receivable | 41 | €34,290 | €51,886 | +€17,596 | +51.3% |
| Cash at bank and in hand | 54/58 | €3,353,405 | €2,578,963 | -€774,442 | -23.1% |
| Total equity and liabilities | 10/49 | €5,489,519 | €6,450,722 | +€961,202 | +17.5% |
| Equity | 10/15 | €2,930,189 | €2,874,735 | -€55,454 | -1.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,279,196 | €2,279,196 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €2,235,496 | €2,235,496 | = | 0.0% |
| Profit (loss) carried forward | 14 | €588,994 | €533,540 | -€55,454 | -9.4% |
| Provisions and deferred taxes | 16 | €170,660 | €170,660 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €170,660 | €170,660 | = | 0.0% |
| Pensions and similar obligations | 160 | €170,660 | €170,660 | = | 0.0% |
| Amounts payable | 17/49 | €2,388,670 | €3,405,326 | +€1.0m | +42.6% |
| Amounts payable after more than one year | 17 | €2,214,434 | €3,261,385 | +€1.0m | +47.3% |
| Financial debts | 170/4 | €2,214,434 | €3,261,385 | +€1.0m | +47.3% |
| Amounts payable within one year | 42/48 | €157,486 | €143,941 | -€13,545 | -8.6% |
| Current portion of amounts payable after more than one year | 42 | €100,000 | €109,999 | +€9,999 | +10.0% |
| Trade debts | 44 | €2,000 | €193 | -€1,807 | -90.4% |
| Suppliers | 440/4 | €2,000 | €193 | -€1,807 | -90.4% |
| Taxes, remuneration and social security | 45 | €55,486 | €33,749 | -€21,737 | -39.2% |
| Taxes | 450/3 | €55,486 | €30,736 | -€24,750 | -44.6% |
| Remuneration and social security | 454/9 | - | €3,013 | +€3,013 | |
| Accrued charges and deferred income | 492/3 | €16,750 | - | -€16,750 | |
| Non-recurring operating income | 76A | - | €5,000 | +€5,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €136,052 | €166,316 | +€30,263 | +22.2% |
| Other operating charges | 640/8 | €45,972 | €32,528 | -€13,444 | -29.2% |
| Gross operating margin | 9900 | €543,715 | €253,784 | -€289,931 | -53.3% |
| Operating profit (loss) | 9901 | €361,691 | €54,941 | -€306,750 | -84.8% |
| Financial income | 75/76B | €117,526 | €40,239 | -€77,287 | -65.8% |
| Recurring financial income | 75 | €117,526 | €40,239 | -€77,287 | -65.8% |
| Financial charges | 65/66B | €138,362 | €150,448 | +€12,085 | +8.7% |
| Recurring financial charges | 65 | €138,362 | €150,448 | +€12,085 | +8.7% |
| Profit (loss) for the period before taxes | 9903 | €340,854 | -€55,268 | -€396,123 | |
| Income taxes | 67/77 | €104,594 | €186 | -€104,408 | -99.8% |
| Profit (loss) for the period | 9904 | €236,261 | -€55,454 | -€291,715 | |
| Profit (loss) for the period to be appropriated | 9905 | €236,261 | -€55,454 | -€291,715 |
Source: filed annual accounts (NBB), fiscal years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.