Explanation to follow.

The approach here is that a list of unassigned variables is maintained while processing the input lines back to front:

• If the line is an expression, all variables in the expression are added to the list. Actually, in the implementation, all tokens are added to the list, since it saves code and having numbers and operators in the list does not do any harm.

• If the line is an assignment, it tests if the assigned variable name is in the list. If it is, the assignment is accepted, and the variable name removed from the list. Otherwise, the assignment is skipped.

Explanation :

L     Start with empty list.
qN/   Get input and split at newlines.
W%    Reverse to process lines back to front.
{     Start of filter block.
  _     Copy line.
  '=#   Find equal sign.
  _     Copy position of equal sign, will use original later to extract
        variable name from assignment.
  )     Increment to produce truthy/falsy value (-1 from find means not found).
  {     Start if-block that processes assignments.
    (<    Slice off everything but variable name.
    :V    Save in variable V for later re-use.
    1$\   Place copy of unassigned variable list and new variable name at
          top of stack.
    e=    Count occurrences. This tells us if variable name was in list.
    _     Copy the condition value because it will also be used as the
          overall filter result.
    {     Start of block that removes variable name from list.
      \V    Bring list to top, and push variable name.
      a-    Remove the variable name from list.
      \     Swap to get variable list to bottom of stack for next iteration,
            and filter result to top.
    }&    End of conditional block to remove variable name.
  }     End of if-block for assignment.
  {     Start of else-block for expression.
    ;     Pop result of find operation.
    S/    Split expression at spaces.
    +     Concatenate the new variables with the existing ones in the list.
    1     Filter result, expressions are always accepted.
  }?    End of if for assignment vs. expression.
},    End of filter.
\;    Get rid of variable list at bottom of stack.
W%    Reverse order of filtered result, since we worked back to front.
N*    Join with newlines.