LUSACH: 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.
LUSACH
Largest movements
- Stocks and contracts -€106,966
down €106,966 (-13.4%), from €797,375 to €690,410
- Receivables within one year -€95,096
down €95,096 (-26.0%), from €365,552 to €270,457
of which Other amounts receivable: -€51,594
- Cash +€69,761
up €69,761 (+396%), from €17,609 to €87,370
mainly Debts after one year (+€605,965) and Stocks and contracts (+€106,966)
- Tangible fixed assets -€66,867
down €66,867 (-6.2%), from €1.1m to €1.0m
- Deferred charges and accrued income +€53,466
up €53,466 (+4,472%), from €1,196 to €54,662
- Other debts -€686,118
down €686,118 (-100%), from €686,118 to €0
- Debts after one year +€605,965
up €605,965 (+77.3%), from €783,793 to €1.4m
of which Other amounts payable: +€816,935
- Profit (loss) carried forward -€65,396
down €65,396, from €117 to -€65,279
- Gross operating margin -€59,173
down €59,173 (-53.3%), from €111,079 to €51,906
- Other operating charges +€7,115
up €7,115 (+130%), from €5,464 to €12,580
- Financial charges +€7,023
up €7,023 (+24.9%), from €28,157 to €35,181
- Taxes -€2,713
down €2,713 (-88.3%), from €3,073 to €361
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 | €2,268,725 | €2,122,974 | -€145,751 | -6.4% |
| Fixed assets | 21/28 | €1,086,993 | €1,020,076 | -€66,917 | -6.2% |
| Intangible fixed assets | 21 | €50 | €0 | -€50 | -100% |
| Tangible fixed assets | 22/27 | €1,086,943 | €1,020,076 | -€66,867 | -6.2% |
| Land and buildings | 22 | €464,521 | €435,508 | -€29,013 | -6.2% |
| Plant, machinery and equipment | 23 | €94,606 | €76,495 | -€18,111 | -19.1% |
| Furniture and vehicles | 24 | €926 | €0 | -€926 | -100% |
| Assets under construction and advance payments | 27 | €526,891 | €508,073 | -€18,818 | -3.6% |
| Current assets | 29/58 | €1,181,732 | €1,102,898 | -€78,834 | -6.7% |
| Stocks and contracts in progress | 3 | €797,375 | €690,410 | -€106,966 | -13.4% |
| Stocks | 30/36 | €797,375 | €690,410 | -€106,966 | -13.4% |
| Amounts receivable within one year | 40/41 | €365,552 | €270,457 | -€95,096 | -26.0% |
| Trade receivables | 40 | €61,560 | €18,058 | -€43,502 | -70.7% |
| Other amounts receivable | 41 | €303,992 | €252,399 | -€51,594 | -17.0% |
| Cash at bank and in hand | 54/58 | €17,609 | €87,370 | +€69,761 | +396% |
| Deferred charges and accrued income | 490/1 | €1,196 | €54,662 | +€53,466 | +4,472% |
| Total equity and liabilities | 10/49 | €2,268,725 | €2,122,974 | -€145,751 | -6.4% |
| Equity | 10/15 | €740,466 | €675,070 | -€65,396 | -8.8% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €740,348 | €740,348 | = | 0.0% |
| Distributable reserves | 133 | €740,348 | €740,348 | = | 0.0% |
| Profit (loss) carried forward | 14 | €117 | -€65,279 | -€65,396 | |
| Amounts payable | 17/49 | €1,528,260 | €1,447,904 | -€80,355 | -5.3% |
| Amounts payable after more than one year | 17 | €783,793 | €1,389,758 | +€605,965 | +77.3% |
| Financial debts | 170/4 | €328,644 | €117,674 | -€210,970 | -64.2% |
| Other amounts payable | 178/9 | €455,149 | €1,272,084 | +€816,935 | +179% |
| Amounts payable within one year | 42/48 | €719,350 | €26,429 | -€692,921 | -96.3% |
| Current portion of amounts payable after more than one year | 42 | €28,130 | €12,617 | -€15,513 | -55.1% |
| Trade debts | 44 | €2,029 | €6,222 | +€4,193 | +207% |
| Suppliers | 440/4 | €2,029 | €6,222 | +€4,193 | +207% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €3,073 | €7,590 | +€4,517 | +147% |
| Taxes | 450/3 | €3,073 | €7,590 | +€4,517 | +147% |
| Other amounts payable | 47/48 | €686,118 | €0 | -€686,118 | -100% |
| Accrued charges and deferred income | 492/3 | €25,117 | €31,717 | +€6,600 | +26.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,754 | €69,181 | -€573 | -0.8% |
| Other operating charges | 640/8 | €5,464 | €12,580 | +€7,115 | +130% |
| Gross operating margin | 9900 | €111,079 | €51,906 | -€59,173 | -53.3% |
| Operating profit (loss) | 9901 | €35,861 | -€29,854 | -€65,715 | |
| Financial income | 75/76B | €16 | €0 | -€16 | -99.9% |
| Recurring financial income | 75 | €16 | €0 | -€16 | -99.9% |
| Financial charges | 65/66B | €28,157 | €35,181 | +€7,023 | +24.9% |
| Recurring financial charges | 65 | €28,157 | €35,181 | +€7,023 | +24.9% |
| Profit (loss) for the period before taxes | 9903 | €7,720 | -€65,035 | -€72,755 | |
| Income taxes | 67/77 | €3,073 | €361 | -€2,713 | -88.3% |
| Profit (loss) for the period | 9904 | €4,647 | -€65,396 | -€70,042 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,647 | -€65,396 | -€70,042 |
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 15 October 2026 via checked.be.