LUTGI: 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.
What changed
LUTGI
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
-€25,510
2023 · -€21,508-€4,002
Equity
€395,894
2023 · €421,404-€25,510
Cash
€30,647
2023 · €27,621+€3,026
Balance sheet total
€735,245
2023 · €768,418-€33,173
Largest movements
Assets
- Tangible fixed assets -€35,259
down €35,259 (-4.8%), from €738,246 to €702,987
of which Land and buildings: -€33,081
Equity and liabilities
- Reserves -€25,510
down €25,510 (-7.4%), from €347,036 to €321,526
of which Distributable reserves: -€13,198
- Other debts +€14,412
up €14,412 (+8.1%), from €178,078 to €192,489
- Debts after one year -€11,112
down €11,112 (-13.3%), from €83,311 to €72,199
Income statement
- Financial charges +€4,823
up €4,823 (+43.1%), from €11,186 to €16,010
- Other operating charges -€911
down €911 (-12.0%), from €7,568 to €6,658
From the 2023 result to the 2024 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.
Result 2023
-€21,508
Gross operating margin
-€111
Depreciation
-€32
Other operating charges
+€911
Financial income
+€63
Financial charges
-€4,823
Taxes
-€10
Result 2024
-€25,510
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€28,194
Investment
-€14,215
Financing
-€10,952
Cash 2023
€27,621
From operations (derived)
+€28,194
Net result for the year
-€25,510
Depreciation
+€49,474
Receivables within one year
+€940
Provisions
-€6,075
Trade debts
-€6,669
Tax, wage and social debts
+€1,502
Other debts
+€14,412
Accrued charges and deferred income
+€120
Investment (derived)
-€14,215
Investment in fixed assets (net)
-€14,215
Financing
-€10,952
Debts after one year
-€11,112
Current portion of long-term debt
+€160
Cash 2024
€30,647
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €768,418 | €735,245 | -€33,173 | -4.3% |
| Fixed assets | 21/28 | €739,858 | €704,598 | -€35,259 | -4.8% |
| Tangible fixed assets | 22/27 | €738,246 | €702,987 | -€35,259 | -4.8% |
| Land and buildings | 22 | €733,890 | €700,809 | -€33,081 | -4.5% |
| Plant, machinery and equipment | 23 | €4,356 | €2,178 | -€2,178 | -50.0% |
| Financial fixed assets | 28 | €1,611 | €1,611 | = | 0.0% |
| Current assets | 29/58 | €28,561 | €30,647 | +€2,086 | +7.3% |
| Amounts receivable within one year | 40/41 | €940 | €0 | -€940 | -100.0% |
| Trade receivables | 40 | €940 | €0 | -€940 | -100.0% |
| Cash at bank and in hand | 54/58 | €27,621 | €30,647 | +€3,026 | +11.0% |
| Total equity and liabilities | 10/49 | €768,418 | €735,245 | -€33,173 | -4.3% |
| Equity | 10/15 | €421,404 | €395,894 | -€25,510 | -6.1% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €347,036 | €321,526 | -€25,510 | -7.4% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,437 | €7,437 | = | 0.0% |
| Tax-exempt reserves | 132 | €120,048 | €107,736 | -€12,312 | -10.3% |
| Distributable reserves | 133 | €219,551 | €206,353 | -€13,198 | -6.0% |
| Provisions and deferred taxes | 16 | €64,202 | €58,127 | -€6,075 | -9.5% |
| Deferred taxes | 168 | €64,202 | €58,127 | -€6,075 | -9.5% |
| Amounts payable | 17/49 | €282,811 | €281,224 | -€1,587 | -0.6% |
| Amounts payable after more than one year | 17 | €83,311 | €72,199 | -€11,112 | -13.3% |
| Financial debts | 170/4 | €83,311 | €72,199 | -€11,112 | -13.3% |
| Amounts payable within one year | 42/48 | €198,821 | €208,225 | +€9,405 | +4.7% |
| Current portion of amounts payable after more than one year | 42 | €10,952 | €11,112 | +€160 | +1.5% |
| Trade debts | 44 | €6,669 | €0 | -€6,669 | -100.0% |
| Suppliers | 440/4 | €6,669 | €0 | -€6,669 | -100.0% |
| Taxes, remuneration and social security | 45 | €3,122 | €4,624 | +€1,502 | +48.1% |
| Taxes | 450/3 | €3,122 | €4,624 | +€1,502 | +48.1% |
| Other amounts payable | 47/48 | €178,078 | €192,489 | +€14,412 | +8.1% |
| Accrued charges and deferred income | 492/3 | €680 | €800 | +€120 | +17.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,442 | €49,474 | +€32 | +0.1% |
| Other operating charges | 640/8 | €7,568 | €6,658 | -€911 | -12.0% |
| Gross operating margin | 9900 | €40,838 | €40,727 | -€111 | -0.3% |
| Operating profit (loss) | 9901 | -€16,173 | -€15,405 | +€768 | +4.7% |
| Financial income | 75/76B | €58 | €121 | +€63 | +109.5% |
| Recurring financial income | 75 | €58 | €121 | +€63 | +109.5% |
| Financial charges | 65/66B | €11,186 | €16,010 | +€4,823 | +43.1% |
| Recurring financial charges | 65 | €11,186 | €16,010 | +€4,823 | +43.1% |
| Profit (loss) for the period before taxes | 9903 | -€27,302 | -€31,294 | -€3,993 | -14.6% |
| Transfer from deferred taxes | 780 | €6,075 | €6,075 | = | 0.0% |
| Income taxes | 67/77 | €282 | €291 | +€10 | +3.4% |
| Profit (loss) for the period | 9904 | -€21,508 | -€25,510 | -€4,002 | -18.6% |
| Transfer from tax-exempt reserves | 789 | €12,312 | €12,312 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,196 | -€13,198 | -€4,002 | -43.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.