LUP: 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.
LUP
Largest movements
- Receivables within one year +€31,270
up €31,270 (+29.8%), from €104,840 to €136,110
of which Trade receivables: +€29,304
- Tangible fixed assets -€26,788
down €26,788 (-26.6%), from €100,529 to €73,741
of which Plant, machinery and equipment: -€16,268
- Cash -€23,415
down €23,415 (-94.6%), from €24,746 to €1,331
mainly Receivables within one year (-€31,270) and Debts after one year (-€24,481)
- Intangible fixed assets +€2,767
new in 2025: €2,767
- Current portion of long-term debt +€28,586
new in 2025: €28,586
- Debts after one year -€24,481
down €24,481 (-49.8%), from €49,132 to €24,650
- Short-term financial debts -€13,897
down €13,897 (-39.6%), from €35,129 to €21,232
of which Credit institutions: -€13,897
- Trade debts -€8,082
down €8,082 (-17.1%), from €47,218 to €39,136
- Profit (loss) carried forward +€4,533
up €4,533 (+4.8%), from €94,274 to €98,807
- Purchases and services -€134,437
down €134,437 (-27.1%), from €495,584 to €361,148
- Turnover -€131,151
down €131,151 (-23.8%), from €550,973 to €419,821
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €232,149 | €216,265 | -€15,884 | -6.8% |
| Fixed assets | 21/28 | €102,479 | €78,458 | -€24,021 | -23.4% |
| Intangible fixed assets | 21 | - | €2,767 | +€2,767 | |
| Tangible fixed assets | 22/27 | €100,529 | €73,741 | -€26,788 | -26.6% |
| Plant, machinery and equipment | 23 | €67,753 | €51,485 | -€16,268 | -24.0% |
| Furniture and vehicles | 24 | €32,776 | €22,256 | -€10,519 | -32.1% |
| Financial fixed assets | 28 | €1,950 | €1,950 | = | 0.0% |
| Current assets | 29/58 | €129,671 | €137,808 | +€8,137 | +6.3% |
| Amounts receivable within one year | 40/41 | €104,840 | €136,110 | +€31,270 | +29.8% |
| Trade receivables | 40 | €47,973 | €77,277 | +€29,304 | +61.1% |
| Other amounts receivable | 41 | €56,867 | €58,833 | +€1,966 | +3.5% |
| Cash at bank and in hand | 54/58 | €24,746 | €1,331 | -€23,415 | -94.6% |
| Deferred charges and accrued income | 490/1 | €84 | €366 | +€282 | +335.3% |
| Total equity and liabilities | 10/49 | €232,149 | €216,265 | -€15,884 | -6.8% |
| Equity | 10/15 | €94,274 | €98,807 | +€4,533 | +4.8% |
| Profit (loss) carried forward | 14 | €94,274 | €98,807 | +€4,533 | +4.8% |
| Amounts payable | 17/49 | €137,876 | €117,458 | -€20,417 | -14.8% |
| Amounts payable after more than one year | 17 | €49,132 | €24,650 | -€24,481 | -49.8% |
| Financial debts | 170/4 | €49,132 | €24,650 | -€24,481 | -49.8% |
| Amounts payable within one year | 42/48 | €88,744 | €92,808 | +€4,064 | +4.6% |
| Current portion of amounts payable after more than one year | 42 | - | €28,586 | +€28,586 | |
| Financial debts | 43 | €35,129 | €21,232 | -€13,897 | -39.6% |
| Credit institutions | 430/8 | €35,129 | €21,232 | -€13,897 | -39.6% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €47,218 | €39,136 | -€8,082 | -17.1% |
| Suppliers | 440/4 | €47,218 | €39,136 | -€8,082 | -17.1% |
| Taxes, remuneration and social security | 45 | €6,397 | €3,855 | -€2,543 | -39.7% |
| Taxes | 450/3 | €6,397 | €3,855 | -€2,543 | -39.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Turnover | 70 | €550,973 | €419,821 | -€131,151 | -23.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €495,584 | €361,148 | -€134,437 | -27.1% |
| Remuneration, social security and pensions | 62 | €607 | €0 | -€607 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,160 | €29,476 | +€316 | +1.1% |
| Other operating charges | 640/8 | €915 | €1,594 | +€678 | +74.1% |
| Gross operating margin | 9900 | €55,388 | €58,674 | +€3,285 | +5.9% |
| Operating profit (loss) | 9901 | €24,705 | €27,604 | +€2,899 | +11.7% |
| Financial charges | 65/66B | €5,906 | €8,361 | +€2,455 | +41.6% |
| Recurring financial charges | 65 | €5,906 | €8,361 | +€2,455 | +41.6% |
| Profit (loss) for the period before taxes | 9903 | €18,800 | €19,243 | +€444 | +2.4% |
| Income taxes | 67/77 | €5,594 | €3,710 | -€1,884 | -33.7% |
| Profit (loss) for the period | 9904 | €13,205 | €15,533 | +€2,328 | +17.6% |
| Profit (loss) for the period to be appropriated | 9905 | €13,205 | €15,533 | +€2,328 | +17.6% |
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 11 October 2026 via checked.be.