LUPECO: 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.
LUPECO
Largest movements
- Receivables within one year -€62,812
down €62,812 (-26.2%), from €239,938 to €177,126
of which Other amounts receivable: -€63,229
- Cash +€6,080
up €6,080 (+12.7%), from €47,927 to €54,007
mainly Net result for the year (+€67,919) and Receivables within one year (+€62,812)
- Tangible fixed assets -€3,363
down €3,363 (-31.3%), from €10,728 to €7,365
of which Furniture and vehicles: -€2,810
- Reserves -€57,104
down €57,104 (-23.9%), from €239,356 to €182,253
of which Distributable reserves: -€57,104
- Tax, wage and social debts -€4,957
down €4,957 (-34.0%), from €14,597 to €9,640
- Taxes +€9,884
up €9,884 (+76.8%), from €12,861 to €22,744
- Financial income -€5,745
down €5,745 (-97.7%), from €5,882 to €137
- Purchases and services +€4,969
up €4,969 (+4.2%), from €118,370 to €123,339
- Gross operating margin +€4,416
up €4,416 (+4.5%), from €97,287 to €101,703
- Depreciation -€2,491
down €2,491 (-33.6%), from €7,419 to €4,927
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 | €298,593 | €238,498 | -€60,095 | -20.1% |
| Fixed assets | 21/28 | €10,728 | €7,365 | -€3,363 | -31.3% |
| Tangible fixed assets | 22/27 | €10,728 | €7,365 | -€3,363 | -31.3% |
| Plant, machinery and equipment | 23 | €650 | €467 | -€183 | -28.1% |
| Furniture and vehicles | 24 | €7,179 | €4,370 | -€2,810 | -39.1% |
| Other tangible fixed assets | 26 | €2,899 | €2,529 | -€370 | -12.8% |
| Current assets | 29/58 | €287,865 | €231,133 | -€56,732 | -19.7% |
| Amounts receivable within one year | 40/41 | €239,938 | €177,126 | -€62,812 | -26.2% |
| Trade receivables | 40 | €16,250 | €16,667 | +€417 | +2.6% |
| Other amounts receivable | 41 | €223,688 | €160,460 | -€63,229 | -28.3% |
| Cash at bank and in hand | 54/58 | €47,927 | €54,007 | +€6,080 | +12.7% |
| Total equity and liabilities | 10/49 | €298,593 | €238,498 | -€60,095 | -20.1% |
| Equity | 10/15 | €280,483 | €223,380 | -€57,104 | -20.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Outside capital | 11 | €12,400 | €12,400 | = | 0.0% |
| Other | 1109/19 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €239,356 | €182,253 | -€57,104 | -23.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,580 | €10,580 | = | 0.0% |
| Distributable reserves | 133 | €226,916 | €169,813 | -€57,104 | -25.2% |
| Profit (loss) carried forward | 14 | €28,727 | €28,727 | = | 0.0% |
| Amounts payable | 17/49 | €18,110 | €15,119 | -€2,991 | -16.5% |
| Amounts payable within one year | 42/48 | €18,110 | €15,119 | -€2,991 | -16.5% |
| Current portion of amounts payable after more than one year | 42 | €568 | - | -€568 | |
| Trade debts | 44 | €2,945 | €5,478 | +€2,534 | +86.0% |
| Suppliers | 440/4 | €2,945 | €5,478 | +€2,534 | +86.0% |
| Taxes, remuneration and social security | 45 | €14,597 | €9,640 | -€4,957 | -34.0% |
| Taxes | 450/3 | €14,597 | €9,640 | -€4,957 | -34.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €118,370 | €123,339 | +€4,969 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,419 | €4,927 | -€2,491 | -33.6% |
| Other operating charges | 640/8 | €306 | €1,126 | +€820 | +267.5% |
| Gross operating margin | 9900 | €97,287 | €101,703 | +€4,416 | +4.5% |
| Operating profit (loss) | 9901 | €89,562 | €95,650 | +€6,088 | +6.8% |
| Financial income | 75/76B | €5,882 | €137 | -€5,745 | -97.7% |
| Recurring financial income | 75 | €5,882 | €137 | -€5,745 | -97.7% |
| Financial charges | 65/66B | €6,309 | €5,123 | -€1,186 | -18.8% |
| Recurring financial charges | 65 | €6,309 | €5,123 | -€1,186 | -18.8% |
| Profit (loss) for the period before taxes | 9903 | €89,135 | €90,664 | +€1,528 | +1.7% |
| Income taxes | 67/77 | €12,861 | €22,744 | +€9,884 | +76.8% |
| Profit (loss) for the period | 9904 | €76,274 | €67,919 | -€8,355 | -11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €76,274 | €67,919 | -€8,355 | -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 3 October 2026 via checked.be.