LUPAC: 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.
LUPAC
Largest movements
- Cash +€26,192
up €26,192 (+159%), from €16,493 to €42,685
mainly Other debts (+€39,377) and Depreciation (+€29,841)
- Other debts +€39,377
up €39,377 (+5.6%), from €704,484 to €743,860
- Financial charges -€14,682
down €14,682, from €13,808 to -€875
- Gross operating margin -€2,781
down €2,781 (-8.9%), from €31,413 to €28,632
- Depreciation +€1,586
up €1,586 (+5.6%), from €28,255 to €29,841
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 | €1,694,065 | €1,724,862 | +€30,797 | +1.8% |
| Fixed assets | 21/28 | €1,460,935 | €1,464,593 | +€3,658 | +0.3% |
| Tangible fixed assets | 22/27 | €1,460,935 | €1,464,593 | +€3,658 | +0.3% |
| Land and buildings | 22 | €1,460,935 | €1,432,680 | -€28,255 | -1.9% |
| Furniture and vehicles | 24 | - | €31,913 | +€31,913 | |
| Current assets | 29/58 | €233,130 | €260,269 | +€27,139 | +11.6% |
| Amounts receivable within one year | 40/41 | €5,509 | €5,539 | +€31 | +0.6% |
| Other amounts receivable | 41 | €5,509 | €5,539 | +€31 | +0.6% |
| Current investments | 50/53 | €211,128 | €212,044 | +€917 | +0.4% |
| Cash at bank and in hand | 54/58 | €16,493 | €42,685 | +€26,192 | +159% |
| Total equity and liabilities | 10/49 | €1,694,065 | €1,724,862 | +€30,797 | +1.8% |
| Equity | 10/15 | €987,355 | €981,002 | -€6,353 | -0.6% |
| Contributions | 10/11 | €1,027,500 | €1,027,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,145 | -€46,498 | -€6,353 | -15.8% |
| Amounts payable | 17/49 | €706,710 | €743,860 | +€37,150 | +5.3% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €706,710 | €743,860 | +€37,150 | +5.3% |
| Trade debts | 44 | €2,226 | €0 | -€2,226 | -100% |
| Suppliers | 440/4 | €2,226 | €0 | -€2,226 | -100% |
| Other amounts payable | 47/48 | €704,484 | €743,860 | +€39,377 | +5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,255 | €29,841 | +€1,586 | +5.6% |
| Other operating charges | 640/8 | €6,932 | €7,151 | +€219 | +3.2% |
| Gross operating margin | 9900 | €31,413 | €28,632 | -€2,781 | -8.9% |
| Operating profit (loss) | 9901 | -€3,774 | -€8,360 | -€4,585 | -121% |
| Financial income | 75/76B | €963 | €1,132 | +€170 | +17.6% |
| Recurring financial income | 75 | €963 | €1,132 | +€170 | +17.6% |
| Financial charges | 65/66B | €13,808 | -€875 | -€14,682 | |
| Recurring financial charges | 65 | €13,808 | -€875 | -€14,682 | |
| Profit (loss) for the period before taxes | 9903 | -€16,619 | -€6,353 | +€10,266 | +61.8% |
| Profit (loss) for the period | 9904 | -€16,619 | -€6,353 | +€10,266 | +61.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,619 | -€6,353 | +€10,266 | +61.8% |
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 19 October 2026 via checked.be.