Once lost, meaning that won’t be in your possession anymore, and you won’t own the keys anymore so accessing will never be possible anymore. Although even if it’s still in your possession, but the fact that you have lost already its private keys, then it will never be recover anymore.

This is why security of our coins should be highly prioritized, that is keeping our seed phrases in a safe place without disclosing it to anyone. Otherwise, all your hard-earned coins will be gone in a waste without giving yourself the chance to enjoy its profits.