De Locomotief: 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.
De Locomotief
Largest movements
- Cash +€72,737
up €72,737 (+83.3%), from €87,311 to €160,048
mainly Net result for the year (+€78,921) and Depreciation (+€14,770)
- Tangible fixed assets -€14,770
down €14,770 (-7.6%), from €194,817 to €180,047
of which Land and buildings: -€9,468
- Financial fixed assets +€12,000
up €12,000 (+70.6%), from €17,000 to €29,000
- Profit (loss) carried forward +€61,921
up €61,921 (+249%), from €24,898 to €86,819
- Other debts +€11,561
up €11,561 (+7.7%), from €150,484 to €162,045
- Tax, wage and social debts +€11,207
up €11,207 (+116%), from €9,629 to €20,836
of which Taxes: +€11,138
- Debts after one year -€10,260
down €10,260 (-10.5%), from €97,762 to €87,502
- Gross operating margin +€36,301
up €36,301 (+34.2%), from €106,016 to €142,316
- Taxes +€12,913
up €12,913 (+355%), from €3,641 to €16,554
- Staff costs +€4,408
up €4,408 (+20.2%), from €21,857 to €26,265
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 | €302,078 | €373,325 | +€71,247 | +23.6% |
| Fixed assets | 21/28 | €211,817 | €209,047 | -€2,770 | -1.3% |
| Tangible fixed assets | 22/27 | €194,817 | €180,047 | -€14,770 | -7.6% |
| Land and buildings | 22 | €167,650 | €158,183 | -€9,468 | -5.6% |
| Plant, machinery and equipment | 23 | €27,167 | €21,865 | -€5,303 | -19.5% |
| Financial fixed assets | 28 | €17,000 | €29,000 | +€12,000 | +70.6% |
| Current assets | 29/58 | €90,261 | €164,278 | +€74,017 | +82.0% |
| Stocks and contracts in progress | 3 | €2,156 | €2,270 | +€113 | +5.2% |
| Stocks | 30/36 | €2,156 | €2,270 | +€113 | +5.2% |
| Amounts receivable within one year | 40/41 | €794 | €1,960 | +€1,166 | +147% |
| Trade receivables | 40 | €650 | €1,907 | +€1,257 | +193% |
| Other amounts receivable | 41 | €144 | €53 | -€91 | -63.1% |
| Cash at bank and in hand | 54/58 | €87,311 | €160,048 | +€72,737 | +83.3% |
| Total equity and liabilities | 10/49 | €302,078 | €373,325 | +€71,247 | +23.6% |
| Equity | 10/15 | €24,898 | €86,819 | +€61,921 | +249% |
| Profit (loss) carried forward | 14 | €24,898 | €86,819 | +€61,921 | +249% |
| Amounts payable | 17/49 | €277,180 | €286,506 | +€9,326 | +3.4% |
| Amounts payable after more than one year | 17 | €97,762 | €87,502 | -€10,260 | -10.5% |
| Financial debts | 170/4 | €97,762 | €87,502 | -€10,260 | -10.5% |
| Amounts payable within one year | 42/48 | €179,418 | €199,005 | +€19,586 | +10.9% |
| Current portion of amounts payable after more than one year | 42 | €12,041 | €10,260 | -€1,781 | -14.8% |
| Trade debts | 44 | €7,264 | €5,863 | -€1,401 | -19.3% |
| Suppliers | 440/4 | €7,264 | €5,863 | -€1,401 | -19.3% |
| Taxes, remuneration and social security | 45 | €9,629 | €20,836 | +€11,207 | +116% |
| Taxes | 450/3 | €7,091 | €18,229 | +€11,138 | +157% |
| Remuneration and social security | 454/9 | €2,538 | €2,607 | +€69 | +2.7% |
| Other amounts payable | 47/48 | €150,484 | €162,045 | +€11,561 | +7.7% |
| Remuneration, social security and pensions | 62 | €21,857 | €26,265 | +€4,408 | +20.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,770 | €14,770 | = | 0.0% |
| Other operating charges | 640/8 | €3,002 | €2,650 | -€353 | -11.7% |
| Gross operating margin | 9900 | €106,016 | €142,316 | +€36,301 | +34.2% |
| Operating profit (loss) | 9901 | €66,387 | €98,631 | +€32,245 | +48.6% |
| Financial income | 75/76B | €287 | €613 | +€325 | +113% |
| Recurring financial income | 75 | €287 | €613 | +€325 | +113% |
| Financial charges | 65/66B | €3,958 | €3,770 | -€189 | -4.8% |
| Recurring financial charges | 65 | €3,958 | €3,770 | -€189 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €62,716 | €95,475 | +€32,759 | +52.2% |
| Income taxes | 67/77 | €3,641 | €16,554 | +€12,913 | +355% |
| Profit (loss) for the period | 9904 | €59,075 | €78,921 | +€19,846 | +33.6% |
| Profit (loss) for the period to be appropriated | 9905 | €59,075 | €78,921 | +€19,846 | +33.6% |
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 31 October 2026 via checked.be.