Lupa Consulting: 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.
Lupa Consulting
Largest movements
- Current investments +€267,788
up €267,788 (+12.7%), from €2.1m to €2.4m
- Cash -€114,708
down €114,708 (-62.5%), from €183,468 to €68,759
mainly Current investments (-€267,788) and Tax, wage and social debts (-€45,734)
- Tangible fixed assets -€26,803
down €26,803 (-38.3%), from €70,062 to €43,259
of which Furniture and vehicles: -€21,471
- Reserves +€173,819
up €173,819 (+7.6%), from €2.3m to €2.5m
of which Distributable reserves: +€173,819
- Tax, wage and social debts -€45,734
down €45,734 (-91.8%), from €49,829 to €4,095
of which Taxes: -€45,734
- Gross operating margin -€138,796
down €138,796 (-38.6%), from €359,249 to €220,453
- Taxes -€49,312
down €49,312 (-37.2%), from €132,524 to €83,212
- Financial income +€5,402
up €5,402 (+9.2%), from €59,013 to €64,415
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.
Derived cash bridge
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 | €2,369,571 | €2,495,882 | +€126,311 | +5.3% |
| Fixed assets | 21/28 | €70,062 | €43,259 | -€26,803 | -38.3% |
| Tangible fixed assets | 22/27 | €70,062 | €43,259 | -€26,803 | -38.3% |
| Plant, machinery and equipment | 23 | €8,590 | €4,758 | -€3,832 | -44.6% |
| Furniture and vehicles | 24 | €52,361 | €30,890 | -€21,471 | -41.0% |
| Other tangible fixed assets | 26 | €9,111 | €7,611 | -€1,500 | -16.5% |
| Current assets | 29/58 | €2,299,510 | €2,452,623 | +€153,113 | +6.7% |
| Stocks and contracts in progress | 3 | €3,543 | €1,505 | -€2,038 | -57.5% |
| Stocks | 30/36 | €3,543 | €1,505 | -€2,038 | -57.5% |
| Amounts receivable within one year | 40/41 | €5,653 | €7,539 | +€1,885 | +33.4% |
| Trade receivables | 40 | €480 | €862 | +€382 | +79.4% |
| Other amounts receivable | 41 | €5,173 | €6,677 | +€1,504 | +29.1% |
| Current investments | 50/53 | €2,105,346 | €2,373,134 | +€267,788 | +12.7% |
| Cash at bank and in hand | 54/58 | €183,468 | €68,759 | -€114,708 | -62.5% |
| Deferred charges and accrued income | 490/1 | €1,500 | €1,686 | +€186 | +12.4% |
| Total equity and liabilities | 10/49 | €2,369,571 | €2,495,882 | +€126,311 | +5.3% |
| Equity | 10/15 | €2,317,968 | €2,491,787 | +€173,819 | +7.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,299,368 | €2,473,187 | +€173,819 | +7.6% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €2,299,368 | €2,473,187 | +€173,819 | +7.6% |
| Amounts payable | 17/49 | €51,604 | €4,095 | -€47,509 | -92.1% |
| Amounts payable within one year | 42/48 | €51,604 | €4,095 | -€47,509 | -92.1% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €49,829 | €4,095 | -€45,734 | -91.8% |
| Taxes | 450/3 | €49,829 | €4,095 | -€45,734 | -91.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,775 | €0 | -€1,775 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,555 | €26,803 | +€247 | +0.9% |
| Other operating charges | 640/8 | €1,380 | €58 | -€1,322 | -95.8% |
| Gross operating margin | 9900 | €359,249 | €220,453 | -€138,796 | -38.6% |
| Operating profit (loss) | 9901 | €331,314 | €193,592 | -€137,722 | -41.6% |
| Financial income | 75/76B | €59,013 | €64,415 | +€5,402 | +9.2% |
| Recurring financial income | 75 | €59,013 | €64,415 | +€5,402 | +9.2% |
| Financial charges | 65/66B | €885 | €976 | +€92 | +10.4% |
| Recurring financial charges | 65 | €885 | €976 | +€92 | +10.4% |
| Profit (loss) for the period before taxes | 9903 | €389,443 | €257,031 | -€132,411 | -34.0% |
| Income taxes | 67/77 | €132,524 | €83,212 | -€49,312 | -37.2% |
| Profit (loss) for the period | 9904 | €256,919 | €173,819 | -€83,099 | -32.3% |
| Transfer from tax-exempt reserves | 789 | €122,792 | €0 | -€122,792 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €379,711 | €173,819 | -€205,891 | -54.2% |
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 26 October 2026 via checked.be.