LUSOBATI: 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.
LUSOBATI
Largest movements
- Cash +€633,182
up €633,182 (+138%), from €457,601 to €1.1m
mainly Trade debts (+€590,977) and Debts after one year (+€551,610)
- Tangible fixed assets +€623,179
up €623,179 (+3,659%), from €17,033 to €640,212
of which Land and buildings: +€557,124
- Stocks and contracts +€114,456
new in 2025: €114,456
- Receivables within one year -€86,718
down €86,718 (-5.4%), from €1.6m to €1.5m
of which Other amounts receivable: -€253,684
- Trade debts +€590,977
up €590,977 (+72.2%), from €818,198 to €1.4m
- Debts after one year +€551,610
up €551,610 (+2,613%), from €21,114 to €572,724
- Current portion of long-term debt +€160,525
up €160,525 (+294%), from €54,530 to €215,055
- Tax, wage and social debts -€35,363
down €35,363 (-28.6%), from €123,763 to €88,400
of which Taxes: -€46,186
- Gross operating margin -€583,812
down €583,812 (-48.0%), from €1.2m to €631,701
- Other operating charges -€88,824
down €88,824 (-82.1%), from €108,248 to €19,424
- Staff costs +€69,573
up €69,573 (+17.4%), from €399,223 to €468,796
- Financial charges -€28,849
down €28,849 (-33.0%), from €87,322 to €58,472
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 | €2,087,791 | €3,372,078 | +€1.3m | +61.5% |
| Fixed assets | 21/28 | €17,033 | €640,228 | +€623,195 | +3,659% |
| Tangible fixed assets | 22/27 | €17,033 | €640,212 | +€623,179 | +3,659% |
| Land and buildings | 22 | - | €557,124 | +€557,124 | |
| Plant, machinery and equipment | 23 | €8,133 | €20,477 | +€12,344 | +152% |
| Furniture and vehicles | 24 | €3,087 | €4,481 | +€1,395 | +45.2% |
| Leasing and similar rights | 25 | €5,813 | €5,250 | -€563 | -9.7% |
| Assets under construction and advance payments | 27 | - | €52,880 | +€52,880 | |
| Financial fixed assets | 28 | - | €16 | +€16 | |
| Current assets | 29/58 | €2,070,759 | €2,731,850 | +€661,091 | +31.9% |
| Stocks and contracts in progress | 3 | - | €114,456 | +€114,456 | |
| Stocks | 30/36 | - | €114,456 | +€114,456 | |
| Amounts receivable within one year | 40/41 | €1,594,132 | €1,507,415 | -€86,718 | -5.4% |
| Trade receivables | 40 | €574,254 | €741,221 | +€166,966 | +29.1% |
| Other amounts receivable | 41 | €1,019,878 | €766,194 | -€253,684 | -24.9% |
| Cash at bank and in hand | 54/58 | €457,601 | €1,090,783 | +€633,182 | +138% |
| Deferred charges and accrued income | 490/1 | €19,025 | €19,196 | +€171 | +0.9% |
| Total equity and liabilities | 10/49 | €2,087,791 | €3,372,078 | +€1.3m | +61.5% |
| Equity | 10/15 | €1,070,186 | €1,086,724 | +€16,538 | +1.5% |
| Contributions | 10/11 | €58,960 | €58,960 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,011,226 | €1,027,764 | +€16,538 | +1.6% |
| Amounts payable | 17/49 | €1,017,605 | €2,285,354 | +€1.3m | +125% |
| Amounts payable after more than one year | 17 | €21,114 | €572,724 | +€551,610 | +2,613% |
| Financial debts | 170/4 | €21,114 | €572,724 | +€551,610 | +2,613% |
| Amounts payable within one year | 42/48 | €996,492 | €1,712,630 | +€716,138 | +71.9% |
| Current portion of amounts payable after more than one year | 42 | €54,530 | €215,055 | +€160,525 | +294% |
| Trade debts | 44 | €818,198 | €1,409,175 | +€590,977 | +72.2% |
| Suppliers | 440/4 | €818,198 | €1,409,175 | +€590,977 | +72.2% |
| Taxes, remuneration and social security | 45 | €123,763 | €88,400 | -€35,363 | -28.6% |
| Taxes | 450/3 | €99,999 | €53,813 | -€46,186 | -46.2% |
| Remuneration and social security | 454/9 | €23,764 | €34,587 | +€10,823 | +45.5% |
| Non-recurring operating income | 76A | - | €60,943 | +€60,943 | |
| Remuneration, social security and pensions | 62 | €399,223 | €468,796 | +€69,573 | +17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,912 | €17,244 | +€9,332 | +118% |
| Other operating charges | 640/8 | €108,248 | €19,424 | -€88,824 | -82.1% |
| Non-recurring operating charges | 66A | €564,205 | €17,039 | -€547,166 | -97.0% |
| Gross operating margin | 9900 | €1,215,513 | €631,701 | -€583,812 | -48.0% |
| Operating profit (loss) | 9901 | €135,925 | €109,198 | -€26,727 | -19.7% |
| Financial income | 75/76B | €3,712 | €6,588 | +€2,876 | +77.5% |
| Recurring financial income | 75 | €3,712 | €6,588 | +€2,876 | +77.5% |
| Financial charges | 65/66B | €87,322 | €58,472 | -€28,849 | -33.0% |
| Recurring financial charges | 65 | €87,322 | €58,472 | -€28,849 | -33.0% |
| Profit (loss) for the period before taxes | 9903 | €52,316 | €57,314 | +€4,998 | +9.6% |
| Income taxes | 67/77 | €30,545 | €40,732 | +€10,188 | +33.4% |
| Profit (loss) for the period | 9904 | €21,771 | €16,581 | -€5,190 | -23.8% |
| Profit (loss) for the period to be appropriated | 9905 | €21,771 | €16,581 | -€5,190 | -23.8% |
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 24 October 2026 via checked.be.