LUSA: 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.
LUSA
Largest movements
- Cash +€76,510
up €76,510 (+308%), from €24,819 to €101,329
mainly Depreciation (+€66,974) and Other debts (+€49,990)
- Tangible fixed assets -€62,339
down €62,339 (-4.3%), from €1.5m to €1.4m
of which Land and buildings: -€54,908
- Deferred charges and accrued income +€27,081
up €27,081 (+471%), from €5,755 to €32,836
- Receivables within one year -€23,214
down €23,214 (-18.3%), from €127,195 to €103,982
of which Other amounts receivable: -€35,738
- Other debts +€49,990
up €49,990 (+4.7%), from €1.1m to €1.1m
- Debts after one year -€28,321
down €28,321 (-61.8%), from €45,861 to €17,540
- Trade debts -€26,313
down €26,313 (-32.9%), from €80,067 to €53,754
of which Suppliers: -€24,663
- Gross operating margin -€17,796
down €17,796 (-7.4%), from €242,085 to €224,289
- Depreciation -€5,147
down €5,147 (-7.1%), from €72,120 to €66,974
- Staff costs +€4,554
up €4,554 (+3.3%), from €136,027 to €140,580
- Other operating charges -€2,447
down €2,447 (-14.1%), from €17,405 to €14,958
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 | €1,610,235 | €1,627,939 | +€17,704 | +1.1% |
| Fixed assets | 21/28 | €1,452,466 | €1,389,793 | -€62,673 | -4.3% |
| Intangible fixed assets | 21 | €807 | €474 | -€333 | -41.3% |
| Tangible fixed assets | 22/27 | €1,451,409 | €1,389,070 | -€62,339 | -4.3% |
| Land and buildings | 22 | €1,432,713 | €1,377,805 | -€54,908 | -3.8% |
| Plant, machinery and equipment | 23 | €7,217 | €6,553 | -€664 | -9.2% |
| Furniture and vehicles | 24 | €9,776 | €2,144 | -€7,633 | -78.1% |
| Other tangible fixed assets | 26 | €1,702 | €1,508 | -€194 | -11.4% |
| Assets under construction and advance payments | 27 | €0 | €1,060 | +€1,060 | |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €157,769 | €238,146 | +€80,377 | +50.9% |
| Amounts receivable within one year | 40/41 | €127,195 | €103,982 | -€23,214 | -18.3% |
| Trade receivables | 40 | €52,688 | €65,212 | +€12,524 | +23.8% |
| Other amounts receivable | 41 | €74,507 | €38,769 | -€35,738 | -48.0% |
| Cash at bank and in hand | 54/58 | €24,819 | €101,329 | +€76,510 | +308% |
| Deferred charges and accrued income | 490/1 | €5,755 | €32,836 | +€27,081 | +471% |
| Total equity and liabilities | 10/49 | €1,610,235 | €1,627,939 | +€17,704 | +1.1% |
| Equity | 10/15 | €394,740 | €389,083 | -€5,657 | -1.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €386,680 | €381,023 | -€5,657 | -1.5% |
| Amounts payable | 17/49 | €1,215,495 | €1,238,857 | +€23,361 | +1.9% |
| Amounts payable after more than one year | 17 | €45,861 | €17,540 | -€28,321 | -61.8% |
| Financial debts | 170/4 | €45,861 | €17,540 | -€28,321 | -61.8% |
| Amounts payable within one year | 42/48 | €1,169,634 | €1,221,316 | +€51,682 | +4.4% |
| Current portion of amounts payable after more than one year | 42 | €13,375 | €28,321 | +€14,946 | +112% |
| Financial debts | 43 | €554 | €0 | -€554 | -100% |
| Credit institutions | 430/8 | €554 | €0 | -€554 | -100% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €80,067 | €53,754 | -€26,313 | -32.9% |
| Suppliers | 440/4 | €78,417 | €53,754 | -€24,663 | -31.5% |
| Bills of exchange payable | 441 | €1,650 | €0 | -€1,650 | -100% |
| Advances received on contracts in progress | 46 | - | €13,082 | +€13,082 | |
| Taxes, remuneration and social security | 45 | €20,888 | €21,419 | +€531 | +2.5% |
| Taxes | 450/3 | €5,254 | €6,540 | +€1,286 | +24.5% |
| Remuneration and social security | 454/9 | €15,635 | €14,879 | -€755 | -4.8% |
| Other amounts payable | 47/48 | €1,054,750 | €1,104,741 | +€49,990 | +4.7% |
| Non-recurring operating income | 76A | €10,609 | €27,563 | +€16,954 | +160% |
| Remuneration, social security and pensions | 62 | €136,027 | €140,580 | +€4,554 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,120 | €66,974 | -€5,147 | -7.1% |
| Other operating charges | 640/8 | €17,405 | €14,958 | -€2,447 | -14.1% |
| Non-recurring operating charges | 66A | €50 | €652 | +€602 | +1,204% |
| Gross operating margin | 9900 | €242,085 | €224,289 | -€17,796 | -7.4% |
| Operating profit (loss) | 9901 | €16,483 | €1,126 | -€15,358 | -93.2% |
| Financial income | 75/76B | €182 | €0 | -€182 | -100.0% |
| Recurring financial income | 75 | €182 | €0 | -€182 | -100.0% |
| Financial charges | 65/66B | €5,293 | €5,478 | +€185 | +3.5% |
| Recurring financial charges | 65 | €5,293 | €5,478 | +€185 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | €11,372 | -€4,353 | -€15,725 | |
| Income taxes | 67/77 | €1,375 | €1,304 | -€71 | -5.1% |
| Profit (loss) for the period | 9904 | €9,997 | -€5,657 | -€15,654 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,997 | -€5,657 | -€15,654 |
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 17 October 2026 via checked.be.