L.O.S.A.: 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.
L.O.S.A.
Largest movements
- Tangible fixed assets +€63,902
up €63,902 (+132%), from €48,400 to €112,302
- Receivables within one year +€48,257
new in 2025: €48,257
of which Trade receivables: +€41,947
- Cash +€43,949
new in 2025: €43,949
mainly Other debts (+€76,803) and Debts after one year (+€71,989)
- Formation expenses +€7,300
new in 2025: €7,300
- Other debts +€76,803
up €76,803 (+170%), from €45,261 to €122,064
- Debts after one year +€71,989
new in 2025: €71,989
- Trade debts +€52,944
new in 2025: €52,944
- Profit (loss) carried forward -€43,809
down €43,809 (-176%), from -€24,921 to -€68,730
- Current portion of long-term debt +€5,481
new in 2025: €5,481
- Gross operating margin -€24,246
down €24,246 (-3,276%), from -€740 to -€24,986
- Depreciation +€8,209
up €8,209 (+304%), from €2,700 to €10,909
- Other operating charges +€3,671
up €3,671 (+307%), from €1,194 to €4,865
- Financial charges +€3,048
new in 2025: €3,048
- Purchases and services -€740
no longer reported in 2025 (was €740)
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 | €48,400 | €211,808 | +€163,408 | +338% |
| Formation expenses | 20 | - | €7,300 | +€7,300 | |
| Fixed assets | 21/28 | €48,400 | €112,302 | +€63,902 | +132% |
| Tangible fixed assets | 22/27 | €48,400 | €112,302 | +€63,902 | +132% |
| Land and buildings | 22 | €48,400 | €112,302 | +€63,902 | +132% |
| Current assets | 29/58 | - | €92,206 | +€92,206 | |
| Amounts receivable within one year | 40/41 | - | €48,257 | +€48,257 | |
| Trade receivables | 40 | - | €41,947 | +€41,947 | |
| Other amounts receivable | 41 | - | €6,310 | +€6,310 | |
| Cash at bank and in hand | 54/58 | - | €43,949 | +€43,949 | |
| Total equity and liabilities | 10/49 | €48,400 | €211,808 | +€163,408 | +338% |
| Equity | 10/15 | €3,139 | -€40,670 | -€43,809 | |
| Contributions | 10/11 | €26,200 | €26,200 | = | 0.0% |
| Capital | 10 | €26,200 | €26,200 | = | 0.0% |
| Issued capital | 100 | €26,200 | €26,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,921 | -€68,730 | -€43,809 | -176% |
| Amounts payable | 17/49 | €45,261 | €252,478 | +€207,217 | +458% |
| Amounts payable after more than one year | 17 | - | €71,989 | +€71,989 | |
| Financial debts | 170/4 | - | €71,989 | +€71,989 | |
| Amounts payable within one year | 42/48 | €45,261 | €180,489 | +€135,228 | +299% |
| Current portion of amounts payable after more than one year | 42 | - | €5,481 | +€5,481 | |
| Trade debts | 44 | - | €52,944 | +€52,944 | |
| Suppliers | 440/4 | - | €52,944 | +€52,944 | |
| Other amounts payable | 47/48 | €45,261 | €122,064 | +€76,803 | +170% |
| Goods, raw materials, services and sundry goods | 60/61 | €740 | - | -€740 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,700 | €10,909 | +€8,209 | +304% |
| Other operating charges | 640/8 | €1,194 | €4,865 | +€3,671 | +307% |
| Gross operating margin | 9900 | -€740 | -€24,986 | -€24,246 | -3,276% |
| Operating profit (loss) | 9901 | -€4,634 | -€40,761 | -€36,127 | -780% |
| Financial charges | 65/66B | - | €3,048 | +€3,048 | |
| Recurring financial charges | 65 | - | €3,048 | +€3,048 | |
| Profit (loss) for the period before taxes | 9903 | -€4,634 | -€43,809 | -€39,175 | -845% |
| Profit (loss) for the period | 9904 | -€4,634 | -€43,809 | -€39,175 | -845% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,634 | -€43,809 | -€39,175 | -845% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.