Lupo: 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.
Lupo
Largest movements
- Current investments +€25,000
up €25,000 (+22.7%), from €110,027 to €135,027
- Cash +€22,567
up €22,567 (+61.0%), from €36,990 to €59,557
mainly Net result for the year (+€22,364) and Trade debts (+€19,820)
- Tangible fixed assets -€10,337
down €10,337 (-11.0%), from €94,268 to €83,932
of which Furniture and vehicles: -€10,817
- Reserves +€22,364
up €22,364 (+13.7%), from €162,971 to €185,335
of which Distributable reserves: +€22,364
- Trade debts +€19,820
up €19,820 (+385.7%), from €5,139 to €24,959
- Debts after one year -€12,449
down €12,449 (-60.4%), from €20,621 to €8,172
- Tax, wage and social debts +€9,042
up €9,042 (+114.6%), from €7,887 to €16,929
of which Remuneration and social security: +€11,165
- Staff costs +€19,096
up €19,096 (+1457.9%), from €1,310 to €20,406
- Gross operating margin +€9,070
up €9,070 (+14.8%), from €61,283 to €70,353
- Depreciation -€5,207
down €5,207 (-27.3%), from €19,042 to €13,836
- Taxes -€2,723
down €2,723 (-19.1%), from €14,288 to €11,565
- Other operating charges -€2,209
down €2,209 (-73.3%), from €3,014 to €805
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 | €260,265 | €297,854 | +€37,589 | +14.4% |
| Fixed assets | 21/28 | €94,268 | €83,932 | -€10,337 | -11.0% |
| Tangible fixed assets | 22/27 | €94,268 | €83,932 | -€10,337 | -11.0% |
| Land and buildings | 22 | €31,820 | €32,923 | +€1,103 | +3.5% |
| Plant, machinery and equipment | 23 | €1,270 | €648 | -€622 | -49.0% |
| Furniture and vehicles | 24 | €61,178 | €50,361 | -€10,817 | -17.7% |
| Current assets | 29/58 | €165,997 | €213,922 | +€47,926 | +28.9% |
| Amounts receivable within one year | 40/41 | €18,980 | €19,338 | +€359 | +1.9% |
| Trade receivables | 40 | €10,948 | €17,204 | +€6,257 | +57.1% |
| Other amounts receivable | 41 | €8,032 | €2,134 | -€5,898 | -73.4% |
| Current investments | 50/53 | €110,027 | €135,027 | +€25,000 | +22.7% |
| Cash at bank and in hand | 54/58 | €36,990 | €59,557 | +€22,567 | +61.0% |
| Total equity and liabilities | 10/49 | €260,265 | €297,854 | +€37,589 | +14.4% |
| Equity | 10/15 | €211,266 | €233,629 | +€22,364 | +10.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €162,971 | €185,335 | +€22,364 | +13.7% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €161,112 | €183,476 | +€22,364 | +13.9% |
| Profit (loss) carried forward | 14 | €29,702 | €29,702 | = | 0.0% |
| Amounts payable | 17/49 | €48,999 | €64,224 | +€15,225 | +31.1% |
| Amounts payable after more than one year | 17 | €20,621 | €8,172 | -€12,449 | -60.4% |
| Financial debts | 170/4 | €20,621 | €8,172 | -€12,449 | -60.4% |
| Amounts payable within one year | 42/48 | €28,379 | €56,053 | +€27,674 | +97.5% |
| Current portion of amounts payable after more than one year | 42 | €13,053 | €12,449 | -€604 | -4.6% |
| Trade debts | 44 | €5,139 | €24,959 | +€19,820 | +385.7% |
| Suppliers | 440/4 | €5,139 | €24,959 | +€19,820 | +385.7% |
| Advances received on contracts in progress | 46 | €2,300 | €1,500 | -€800 | -34.8% |
| Taxes, remuneration and social security | 45 | €7,887 | €16,929 | +€9,042 | +114.6% |
| Taxes | 450/3 | €7,432 | €5,309 | -€2,123 | -28.6% |
| Remuneration and social security | 454/9 | €455 | €11,620 | +€11,165 | +2455.5% |
| Other amounts payable | 47/48 | - | €216 | +€216 | |
| Remuneration, social security and pensions | 62 | €1,310 | €20,406 | +€19,096 | +1457.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,042 | €13,836 | -€5,207 | -27.3% |
| Other operating charges | 640/8 | €3,014 | €805 | -€2,209 | -73.3% |
| Gross operating margin | 9900 | €61,283 | €70,353 | +€9,070 | +14.8% |
| Operating profit (loss) | 9901 | €37,917 | €35,307 | -€2,610 | -6.9% |
| Financial income | 75/76B | €0 | €0 | -€0 | -97.5% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -97.5% |
| Financial charges | 65/66B | €1,185 | €1,377 | +€193 | +16.3% |
| Recurring financial charges | 65 | €1,185 | €1,377 | +€193 | +16.3% |
| Profit (loss) for the period before taxes | 9903 | €36,733 | €33,929 | -€2,803 | -7.6% |
| Income taxes | 67/77 | €14,288 | €11,565 | -€2,723 | -19.1% |
| Profit (loss) for the period | 9904 | €22,444 | €22,364 | -€81 | -0.4% |
| Profit (loss) for the period to be appropriated | 9905 | €22,444 | €22,364 | -€81 | -0.4% |
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 2 October 2026 via checked.be.