LUPERCO: 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.
LUPERCO
Largest movements
- Cash +€200,972
up €200,972 (+311%), from €64,710 to €265,683
mainly Net result for the year (+€176,971) and Depreciation (+€40,814)
- Tangible fixed assets -€81,527
down €81,527 (-13.2%), from €618,387 to €536,860
of which Land and buildings: -€65,151
- Current investments +€19,000
up €19,000 (+55.8%), from €34,080 to €53,080
- Reserves +€176,971
up €176,971 (+46.4%), from €381,629 to €558,600
of which Distributable reserves: +€178,508
- Debts after one year -€54,462
down €54,462 (-20.6%), from €264,042 to €209,581
- Tax, wage and social debts +€12,678
up €12,678 (+62.5%), from €20,272 to €32,950
- Gross operating margin +€164,331
up €164,331 (+112%), from €146,858 to €311,189
- Taxes +€67,454
up €67,454 (+586%), from €11,501 to €78,955
- Other operating charges -€27,297
down €27,297 (-85.0%), from €32,111 to €4,814
- Depreciation -€9,326
down €9,326 (-18.6%), from €50,140 to €40,814
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 | €740,903 | €879,296 | +€138,393 | +18.7% |
| Fixed assets | 21/28 | €618,387 | €536,860 | -€81,527 | -13.2% |
| Tangible fixed assets | 22/27 | €618,387 | €536,860 | -€81,527 | -13.2% |
| Land and buildings | 22 | €569,013 | €503,862 | -€65,151 | -11.4% |
| Plant, machinery and equipment | 23 | €3,233 | €2,266 | -€967 | -29.9% |
| Furniture and vehicles | 24 | €46,142 | €30,732 | -€15,410 | -33.4% |
| Current assets | 29/58 | €122,516 | €342,437 | +€219,921 | +180% |
| Amounts receivable within one year | 40/41 | €23,725 | €21,925 | -€1,801 | -7.6% |
| Trade receivables | 40 | €22,244 | €20,451 | -€1,793 | -8.1% |
| Other amounts receivable | 41 | €1,482 | €1,474 | -€8 | -0.5% |
| Current investments | 50/53 | €34,080 | €53,080 | +€19,000 | +55.8% |
| Cash at bank and in hand | 54/58 | €64,710 | €265,683 | +€200,972 | +311% |
| Deferred charges and accrued income | 490/1 | - | €1,749 | +€1,749 | |
| Total equity and liabilities | 10/49 | €740,903 | €879,296 | +€138,393 | +18.7% |
| Equity | 10/15 | €400,229 | €577,200 | +€176,971 | +44.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €381,629 | €558,600 | +€176,971 | +46.4% |
| Tax-exempt reserves | 132 | €25,360 | €23,823 | -€1,537 | -6.1% |
| Distributable reserves | 133 | €356,269 | €534,777 | +€178,508 | +50.1% |
| Provisions and deferred taxes | 16 | €13,059 | €12,267 | -€791 | -6.1% |
| Deferred taxes | 168 | €13,059 | €12,267 | -€791 | -6.1% |
| Amounts payable | 17/49 | €327,615 | €289,829 | -€37,786 | -11.5% |
| Amounts payable after more than one year | 17 | €264,042 | €209,581 | -€54,462 | -20.6% |
| Financial debts | 170/4 | €264,042 | €209,581 | -€54,462 | -20.6% |
| Amounts payable within one year | 42/48 | €63,573 | €80,248 | +€16,675 | +26.2% |
| Current portion of amounts payable after more than one year | 42 | €33,203 | €34,462 | +€1,259 | +3.8% |
| Trade debts | 44 | €4,475 | €1,176 | -€3,299 | -73.7% |
| Suppliers | 440/4 | €4,475 | €1,176 | -€3,299 | -73.7% |
| Taxes, remuneration and social security | 45 | €20,272 | €32,950 | +€12,678 | +62.5% |
| Taxes | 450/3 | €20,272 | €32,950 | +€12,678 | +62.5% |
| Other amounts payable | 47/48 | €5,623 | €11,661 | +€6,038 | +107% |
| Non-recurring operating income | 76A | €0 | €176,576 | +€176,576 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,140 | €40,814 | -€9,326 | -18.6% |
| Other operating charges | 640/8 | €32,111 | €4,814 | -€27,297 | -85.0% |
| Gross operating margin | 9900 | €146,858 | €311,189 | +€164,331 | +112% |
| Operating profit (loss) | 9901 | €64,607 | €265,561 | +€200,953 | +311% |
| Financial income | 75/76B | €102 | €100 | -€2 | -2.1% |
| Recurring financial income | 75 | €102 | €100 | -€2 | -2.1% |
| Financial charges | 65/66B | €12,744 | €10,526 | -€2,219 | -17.4% |
| Recurring financial charges | 65 | €12,744 | €10,526 | -€2,219 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | €51,965 | €255,135 | +€203,170 | +391% |
| Transfer from deferred taxes | 780 | €843 | €791 | -€51 | -6.1% |
| Income taxes | 67/77 | €11,501 | €78,955 | +€67,454 | +586% |
| Profit (loss) for the period | 9904 | €41,306 | €176,971 | +€135,665 | +328% |
| Transfer from tax-exempt reserves | 789 | €1,636 | €1,537 | -€99 | -6.1% |
| Profit (loss) for the period to be appropriated | 9905 | €42,942 | €178,508 | +€135,566 | +316% |
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.