LUPIO: 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.
LUPIO
Largest movements
- Financial fixed assets +€111,978
up €111,978 (+5.8%), from €1.9m to €2.0m
- Cash -€21,169
down €21,169 (-58.3%), from €36,334 to €15,165
mainly Other debts (-€268,468) and Contributions, distributions and other (-€250,000)
- Profit (loss) carried forward +€299,524
up €299,524 (+63.3%), from €473,312 to €772,835
- Other debts -€268,468
down €268,468 (-72.5%), from €370,268 to €101,800
- Tax, wage and social debts +€142,863
up €142,863 (+195.8%), from €72,968 to €215,831
- Debts after one year -€130,594
down €130,594 (-19.6%), from €666,136 to €535,542
- Short-term financial debts +€50,000
new in 2025: €50,000
- Gross operating margin +€380,039
up €380,039 (+136.9%), from €277,683 to €657,722
- Taxes +€119,670
up €119,670 (+188.9%), from €63,341 to €183,011
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 | €1,982,123 | €2,088,529 | +€106,406 | +5.4% |
| Fixed assets | 21/28 | €1,937,525 | €2,054,292 | +€116,767 | +6.0% |
| Tangible fixed assets | 22/27 | - | €4,790 | +€4,790 | |
| Furniture and vehicles | 24 | - | €4,790 | +€4,790 | |
| Financial fixed assets | 28 | €1,937,525 | €2,049,503 | +€111,978 | +5.8% |
| Current assets | 29/58 | €44,598 | €34,237 | -€10,361 | -23.2% |
| Amounts receivable within one year | 40/41 | €8,264 | €19,072 | +€10,807 | +130.8% |
| Trade receivables | 40 | €8,264 | €18,750 | +€10,486 | +126.9% |
| Other amounts receivable | 41 | - | €322 | +€322 | |
| Cash at bank and in hand | 54/58 | €36,334 | €15,165 | -€21,169 | -58.3% |
| Total equity and liabilities | 10/49 | €1,982,123 | €2,088,529 | +€106,406 | +5.4% |
| Equity | 10/15 | €738,312 | €1,037,835 | +€299,524 | +40.6% |
| Contributions | 10/11 | €265,000 | €265,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €473,312 | €772,835 | +€299,524 | +63.3% |
| Amounts payable | 17/49 | €1,243,812 | €1,050,694 | -€193,117 | -15.5% |
| Amounts payable after more than one year | 17 | €666,136 | €535,542 | -€130,594 | -19.6% |
| Financial debts | 170/4 | €666,136 | €535,542 | -€130,594 | -19.6% |
| Amounts payable within one year | 42/48 | €577,675 | €514,831 | -€62,845 | -10.9% |
| Current portion of amounts payable after more than one year | 42 | €129,303 | €130,594 | +€1,291 | +1.0% |
| Financial debts | 43 | - | €50,000 | +€50,000 | |
| Credit institutions | 430/8 | - | €50,000 | +€50,000 | |
| Trade debts | 44 | €5,136 | €16,605 | +€11,469 | +223.3% |
| Suppliers | 440/4 | €5,136 | €16,605 | +€11,469 | +223.3% |
| Taxes, remuneration and social security | 45 | €72,968 | €215,831 | +€142,863 | +195.8% |
| Taxes | 450/3 | €72,968 | €215,831 | +€142,863 | +195.8% |
| Other amounts payable | 47/48 | €370,268 | €101,800 | -€268,468 | -72.5% |
| Accrued charges and deferred income | 492/3 | - | €322 | +€322 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €659 | €797 | +€138 | +20.9% |
| Other operating charges | 640/8 | €10,260 | €15,492 | +€5,232 | +51.0% |
| Gross operating margin | 9900 | €277,683 | €657,722 | +€380,039 | +136.9% |
| Operating profit (loss) | 9901 | €266,764 | €641,433 | +€374,669 | +140.4% |
| Financial income | 75/76B | €100,423 | €100,000 | -€423 | -0.4% |
| Recurring financial income | 75 | €100,423 | €100,000 | -€423 | -0.4% |
| Financial charges | 65/66B | €8,894 | €8,899 | +€5 | +0.1% |
| Recurring financial charges | 65 | €8,894 | €8,899 | +€5 | +0.1% |
| Profit (loss) for the period before taxes | 9903 | €358,294 | €732,535 | +€374,241 | +104.5% |
| Income taxes | 67/77 | €63,341 | €183,011 | +€119,670 | +188.9% |
| Profit (loss) for the period | 9904 | €294,953 | €549,524 | +€254,571 | +86.3% |
| Profit (loss) for the period to be appropriated | 9905 | €294,953 | €549,524 | +€254,571 | +86.3% |
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 7 October 2026 via checked.be.