As mentioned above, the word lago may in fact be a remnant of a Proto-Indo-European ablaut with a root-vowel *a. This is controversial at best, and not reflected in the etymologies in our dictionary, however the bare possibility demands mentioning.

"Although the evidence is sparse, it appears that roots with a as fundamental vowel also ablauted. The root *sal- 'salt' had a zero-grad *sl̥-...; the root *nas- 'nose' has a lengthened-grade derivatives such as Latin nār-ēs and English nose, both from *nās-; and the root *laku- 'body of water' (Lat. lacus 'lake', Gk. lákkos 'pond') had an o-grade form *loku- that became Scottish Gaelic loch 'lake'. The view that roots in a ablauted is not universally accepted, but these forms are difficult to explain otherwise." ~ B. Fortson, Indo-European Language and Culture (2011)