LUPA: 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.
LUPA
Largest movements
- Stocks and contracts +€3,861
new in 2025: €3,861
- Tangible fixed assets +€845
up €845 (+9.3%), from €9,038 to €9,883
of which Plant, machinery and equipment: +€2,046
- Receivables within one year -€614
down €614 (-5.9%), from €10,400 to €9,786
- Other debts +€6,615
up €6,615 (+15.2%), from €43,408 to €50,023
- Profit (loss) carried forward -€2,900
down €2,900 (-6.7%), from -€43,523 to -€46,423
- Gross operating margin +€1,198
up €1,198 (+272.0%), from €441 to €1,639
- Other operating charges +€490
up €490 (+99.6%), from €492 to €982
- Depreciation +€429
up €429 (+16.2%), from €2,643 to €3,072
- Financial charges -€83
down €83 (-21.1%), from €391 to €308
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 | €19,638 | €23,606 | +€3,967 | +20.2% |
| Fixed assets | 21/28 | €9,038 | €9,883 | +€845 | +9.3% |
| Tangible fixed assets | 22/27 | €9,038 | €9,883 | +€845 | +9.3% |
| Land and buildings | 22 | €4,461 | €3,601 | -€860 | -19.3% |
| Plant, machinery and equipment | 23 | €3,092 | €5,139 | +€2,046 | +66.2% |
| Furniture and vehicles | 24 | €1,485 | €1,144 | -€341 | -23.0% |
| Current assets | 29/58 | €10,600 | €13,722 | +€3,122 | +29.5% |
| Stocks and contracts in progress | 3 | - | €3,861 | +€3,861 | |
| Stocks | 30/36 | - | €3,861 | +€3,861 | |
| Amounts receivable within one year | 40/41 | €10,400 | €9,786 | -€614 | -5.9% |
| Trade receivables | 40 | €10,400 | €9,786 | -€614 | -5.9% |
| Cash at bank and in hand | 54/58 | €200 | €76 | -€124 | -62.2% |
| Total equity and liabilities | 10/49 | €19,638 | €23,606 | +€3,967 | +20.2% |
| Equity | 10/15 | -€24,931 | -€27,831 | -€2,900 | -11.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,523 | -€46,423 | -€2,900 | -6.7% |
| Amounts payable | 17/49 | €44,570 | €51,437 | +€6,867 | +15.4% |
| Amounts payable within one year | 42/48 | €44,570 | €51,437 | +€6,867 | +15.4% |
| Trade debts | 44 | €987 | €1,063 | +€76 | +7.7% |
| Suppliers | 440/4 | €987 | €1,063 | +€76 | +7.7% |
| Taxes, remuneration and social security | 45 | €174 | €351 | +€176 | +101.0% |
| Taxes | 450/3 | €174 | €351 | +€176 | +101.0% |
| Other amounts payable | 47/48 | €43,408 | €50,023 | +€6,615 | +15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,643 | €3,072 | +€429 | +16.2% |
| Other operating charges | 640/8 | €492 | €982 | +€490 | +99.6% |
| Gross operating margin | 9900 | €441 | €1,639 | +€1,198 | +272.0% |
| Operating profit (loss) | 9901 | -€2,695 | -€2,415 | +€280 | +10.4% |
| Financial income | 75/76B | €0 | €0 | -€0 | -92.9% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -92.9% |
| Financial charges | 65/66B | €391 | €308 | -€83 | -21.1% |
| Recurring financial charges | 65 | €391 | €308 | -€83 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | -€3,085 | -€2,723 | +€362 | +11.7% |
| Income taxes | 67/77 | €174 | €176 | +€2 | +1.0% |
| Profit (loss) for the period | 9904 | -€3,260 | -€2,900 | +€360 | +11.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,260 | -€2,900 | +€360 | +11.0% |
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 4 October 2026 via checked.be.