Ivan@LO&S: 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.
Ivan@LO&S
Largest movements
- Receivables within one year -€86,880
down €86,880 (-29.0%), from €299,111 to €212,231
of which Other amounts receivable: -€107,130
- Stocks and contracts +€45,672
up €45,672 (+39.5%), from €115,703 to €161,375
- Tangible fixed assets -€31,289
down €31,289 (-23.2%), from €135,144 to €103,855
of which Other tangible fixed assets: -€26,564
- Deferred charges and accrued income -€7,012
down €7,012 (-56.1%), from €12,489 to €5,477
- Profit (loss) carried forward -€135,421
down €135,421 (-64.7%), from -€209,460 to -€344,881
- Tax, wage and social debts +€60,802
up €60,802 (+228%), from €26,677 to €87,479
of which Taxes: +€40,641
- Trade debts -€20,535
down €20,535 (-30.9%), from €66,406 to €45,872
- Current portion of long-term debt +€12,500
new in 2025: €12,500
- Gross operating margin +€104,248
up €104,248 (+548%), from €19,023 to €123,270
- Staff costs +€22,392
up €22,392 (+17.9%), from €125,182 to €147,574
- Financial charges +€12,903
up €12,903 (+16.9%), from €76,370 to €89,273
- Depreciation +€10,943
up €10,943 (+53.8%), from €20,346 to €31,289
- Other operating charges -€6,588
down €6,588 (-89.4%), from €7,368 to €780
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 | €597,048 | €520,286 | -€76,762 | -12.9% |
| Fixed assets | 21/28 | €135,144 | €103,855 | -€31,289 | -23.2% |
| Tangible fixed assets | 22/27 | €135,144 | €103,855 | -€31,289 | -23.2% |
| Plant, machinery and equipment | 23 | €9,495 | €7,153 | -€2,342 | -24.7% |
| Furniture and vehicles | 24 | €8,723 | €6,340 | -€2,383 | -27.3% |
| Other tangible fixed assets | 26 | €116,926 | €90,363 | -€26,564 | -22.7% |
| Current assets | 29/58 | €461,904 | €416,431 | -€45,473 | -9.8% |
| Stocks and contracts in progress | 3 | €115,703 | €161,375 | +€45,672 | +39.5% |
| Stocks | 30/36 | €115,703 | €161,375 | +€45,672 | +39.5% |
| Amounts receivable within one year | 40/41 | €299,111 | €212,231 | -€86,880 | -29.0% |
| Trade receivables | 40 | - | €20,250 | +€20,250 | |
| Other amounts receivable | 41 | €299,111 | €191,981 | -€107,130 | -35.8% |
| Cash at bank and in hand | 54/58 | €34,600 | €37,348 | +€2,748 | +7.9% |
| Deferred charges and accrued income | 490/1 | €12,489 | €5,477 | -€7,012 | -56.1% |
| Total equity and liabilities | 10/49 | €597,048 | €520,286 | -€76,762 | -12.9% |
| Equity | 10/15 | -€199,460 | -€334,881 | -€135,421 | -67.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€209,460 | -€344,881 | -€135,421 | -64.7% |
| Amounts payable | 17/49 | €796,508 | €855,167 | +€58,659 | +7.4% |
| Amounts payable after more than one year | 17 | €700,000 | €700,000 | = | 0.0% |
| Financial debts | 170/4 | €700,000 | €700,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €93,083 | €145,851 | +€52,768 | +56.7% |
| Current portion of amounts payable after more than one year | 42 | - | €12,500 | +€12,500 | |
| Trade debts | 44 | €66,406 | €45,872 | -€20,535 | -30.9% |
| Suppliers | 440/4 | €66,406 | €45,872 | -€20,535 | -30.9% |
| Taxes, remuneration and social security | 45 | €26,677 | €87,479 | +€60,802 | +228% |
| Taxes | 450/3 | €22,005 | €62,646 | +€40,641 | +185% |
| Remuneration and social security | 454/9 | €4,672 | €24,834 | +€20,162 | +432% |
| Accrued charges and deferred income | 492/3 | €3,425 | €9,317 | +€5,892 | +172% |
| Remuneration, social security and pensions | 62 | €125,182 | €147,574 | +€22,392 | +17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,346 | €31,289 | +€10,943 | +53.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,436 | - | -€5,436 | |
| Other operating charges | 640/8 | €7,368 | €780 | -€6,588 | -89.4% |
| Gross operating margin | 9900 | €19,023 | €123,270 | +€104,248 | +548% |
| Operating profit (loss) | 9901 | -€139,309 | -€56,373 | +€82,937 | +59.5% |
| Financial income | 75/76B | €6,220 | €10,225 | +€4,005 | +64.4% |
| Recurring financial income | 75 | €6,220 | €10,225 | +€4,005 | +64.4% |
| Financial charges | 65/66B | €76,370 | €89,273 | +€12,903 | +16.9% |
| Recurring financial charges | 65 | €76,370 | €89,273 | +€12,903 | +16.9% |
| Profit (loss) for the period before taxes | 9903 | -€209,460 | -€135,421 | +€74,039 | +35.3% |
| Profit (loss) for the period | 9904 | -€209,460 | -€135,421 | +€74,039 | +35.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€209,460 | -€135,421 | +€74,039 | +35.3% |
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 17 October 2026 via checked.be.