LUPUS: 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.
LUPUS
Largest movements
- Tangible fixed assets +€49,212
up €49,212 (+38.7%), from €127,288 to €176,499
of which Furniture and vehicles: +€63,024
- Receivables within one year +€9,780
up €9,780 (+29.7%), from €32,947 to €42,727
- Cash +€3,958
up €3,958 (+23.7%), from €16,676 to €20,634
mainly Debts after one year (+€47,495) and Depreciation (+€18,979)
- Debts after one year +€47,495
up €47,495 (+3697.4%), from €1,285 to €48,780
- Reserves +€10,900
up €10,900 (+6.5%), from €168,947 to €179,847
of which Distributable reserves: +€10,900
- Current portion of long-term debt +€4,847
up €4,847 (+63.3%), from €7,657 to €12,505
- Tax, wage and social debts -€3,035
no longer reported in 2025 (was €3,035)
- Trade debts +€2,725
up €2,725 (+204.7%), from €1,331 to €4,056
- Gross operating margin +€18,073
up €18,073 (+117.8%), from €15,347 to €33,420
- Depreciation -€7,375
down €7,375 (-28.0%), from €26,354 to €18,979
- Financial income -€3,514
down €3,514 (-69.8%), from €5,038 to €1,524
- Taxes +€1,841
up €1,841 (+476.2%), from €387 to €2,228
- Other operating charges +€858
up €858 (+54.8%), from €1,565 to €2,422
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 | €176,910 | €239,860 | +€62,950 | +35.6% |
| Fixed assets | 21/28 | €127,288 | €176,499 | +€49,212 | +38.7% |
| Tangible fixed assets | 22/27 | €127,288 | €176,499 | +€49,212 | +38.7% |
| Plant, machinery and equipment | 23 | €5,949 | €4,791 | -€1,158 | -19.5% |
| Furniture and vehicles | 24 | €19,709 | €82,732 | +€63,024 | +319.8% |
| Other tangible fixed assets | 26 | €101,630 | €88,976 | -€12,654 | -12.5% |
| Current assets | 29/58 | €49,623 | €63,361 | +€13,738 | +27.7% |
| Amounts receivable within one year | 40/41 | €32,947 | €42,727 | +€9,780 | +29.7% |
| Other amounts receivable | 41 | €32,947 | €42,727 | +€9,780 | +29.7% |
| Cash at bank and in hand | 54/58 | €16,676 | €20,634 | +€3,958 | +23.7% |
| Total equity and liabilities | 10/49 | €176,910 | €239,860 | +€62,950 | +35.6% |
| Equity | 10/15 | €163,602 | €174,520 | +€10,917 | +6.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €168,947 | €179,847 | +€10,900 | +6.5% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €799 | €799 | = | 0.0% |
| Distributable reserves | 133 | €165,648 | €176,548 | +€10,900 | +6.6% |
| Profit (loss) carried forward | 14 | -€30,344 | -€30,327 | +€17 | +0.1% |
| Amounts payable | 17/49 | €13,308 | €65,340 | +€52,032 | +391.0% |
| Amounts payable after more than one year | 17 | €1,285 | €48,780 | +€47,495 | +3697.4% |
| Financial debts | 170/4 | €1,285 | €48,780 | +€47,495 | +3697.4% |
| Amounts payable within one year | 42/48 | €12,024 | €16,561 | +€4,537 | +37.7% |
| Current portion of amounts payable after more than one year | 42 | €7,657 | €12,505 | +€4,847 | +63.3% |
| Trade debts | 44 | €1,331 | €4,056 | +€2,725 | +204.7% |
| Suppliers | 440/4 | €1,331 | €4,056 | +€2,725 | +204.7% |
| Taxes, remuneration and social security | 45 | €3,035 | - | -€3,035 | |
| Taxes | 450/3 | €3,035 | - | -€3,035 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,354 | €18,979 | -€7,375 | -28.0% |
| Other operating charges | 640/8 | €1,565 | €2,422 | +€858 | +54.8% |
| Gross operating margin | 9900 | €15,347 | €33,420 | +€18,073 | +117.8% |
| Operating profit (loss) | 9901 | -€12,572 | €12,019 | +€24,591 | |
| Financial income | 75/76B | €5,038 | €1,524 | -€3,514 | -69.8% |
| Recurring financial income | 75 | €5,038 | €1,524 | -€3,514 | -69.8% |
| Financial charges | 65/66B | €161 | €398 | +€237 | +147.7% |
| Recurring financial charges | 65 | €161 | €398 | +€237 | +147.7% |
| Profit (loss) for the period before taxes | 9903 | -€7,694 | €13,145 | +€20,839 | |
| Income taxes | 67/77 | €387 | €2,228 | +€1,841 | +476.2% |
| Profit (loss) for the period | 9904 | -€8,081 | €10,917 | +€18,998 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,081 | €10,917 | +€18,998 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.