LO-GO: 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.
LO-GO
Largest movements
- Cash +€53,240
up €53,240 (+224.8%), from €23,686 to €76,926
mainly Net result for the year (+€84,561) and Receivables after one year (+€30,000)
- Receivables after one year -€30,000
down €30,000 (-16.1%), from €185,838 to €155,838
- Tangible fixed assets -€22,480
down €22,480 (-25.2%), from €89,046 to €66,566
of which Furniture and vehicles: -€20,715
- Debts after one year -€104,250
down €104,250 (-16.1%), from €648,078 to €543,828
of which Financial debts: -€91,750
- Profit (loss) carried forward +€84,561
up €84,561 (+112.8%), from €74,996 to €159,558
- Tax, wage and social debts +€19,532
up €19,532 (+183.0%), from €10,673 to €30,205
- Trade debts +€11,039
up €11,039 (+140.9%), from €7,837 to €18,876
- Gross operating margin +€79,666
up €79,666 (+71.7%), from €111,090 to €190,756
- Taxes +€23,630
up €23,630 (+167.7%), from €14,092 to €37,722
- Depreciation +€14,274
up €14,274 (+98.5%), from €14,487 to €28,760
- Staff costs -€5,268
down €5,268 (-41.4%), from €12,716 to €7,448
- Other operating charges -€3,350
down €3,350 (-45.9%), from €7,295 to €3,945
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.
Cash bridge derived
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 | €873,224 | €881,930 | +€8,706 | +1.0% |
| Fixed assets | 21/28 | €623,134 | €600,654 | -€22,480 | -3.6% |
| Tangible fixed assets | 22/27 | €89,046 | €66,566 | -€22,480 | -25.2% |
| Plant, machinery and equipment | 23 | €10,733 | €9,551 | -€1,181 | -11.0% |
| Furniture and vehicles | 24 | €60,198 | €39,483 | -€20,715 | -34.4% |
| Other tangible fixed assets | 26 | €18,115 | €17,532 | -€583 | -3.2% |
| Financial fixed assets | 28 | €534,088 | €534,088 | = | 0.0% |
| Current assets | 29/58 | €250,090 | €281,276 | +€31,186 | +12.5% |
| Amounts receivable after more than one year | 29 | €185,838 | €155,838 | -€30,000 | -16.1% |
| Other amounts receivable | 291 | €185,838 | €155,838 | -€30,000 | -16.1% |
| Stocks and contracts in progress | 3 | €2,620 | €2,620 | = | 0.0% |
| Stocks | 30/36 | €2,620 | €2,620 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €33,464 | €39,286 | +€5,822 | +17.4% |
| Trade receivables | 40 | €18,581 | €19,116 | +€536 | +2.9% |
| Other amounts receivable | 41 | €14,883 | €20,170 | +€5,287 | +35.5% |
| Cash at bank and in hand | 54/58 | €23,686 | €76,926 | +€53,240 | +224.8% |
| Deferred charges and accrued income | 490/1 | €4,482 | €6,607 | +€2,124 | +47.4% |
| Total equity and liabilities | 10/49 | €873,224 | €881,930 | +€8,706 | +1.0% |
| Equity | 10/15 | €93,596 | €178,158 | +€84,561 | +90.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,996 | €159,558 | +€84,561 | +112.8% |
| Amounts payable | 17/49 | €779,628 | €703,773 | -€75,855 | -9.7% |
| Amounts payable after more than one year | 17 | €648,078 | €543,828 | -€104,250 | -16.1% |
| Financial debts | 170/4 | €614,578 | €522,828 | -€91,750 | -14.9% |
| Other amounts payable | 178/9 | €33,500 | €21,000 | -€12,500 | -37.3% |
| Amounts payable within one year | 42/48 | €121,943 | €156,036 | +€34,093 | +28.0% |
| Current portion of amounts payable after more than one year | 42 | €88,434 | €91,750 | +€3,316 | +3.8% |
| Financial debts | 43 | €15,000 | €15,000 | = | 0.0% |
| Credit institutions | 430/8 | €15,000 | €15,000 | = | 0.0% |
| Trade debts | 44 | €7,837 | €18,876 | +€11,039 | +140.9% |
| Suppliers | 440/4 | €7,837 | €18,876 | +€11,039 | +140.9% |
| Taxes, remuneration and social security | 45 | €10,673 | €30,205 | +€19,532 | +183.0% |
| Taxes | 450/3 | €10,673 | €30,205 | +€19,532 | +183.0% |
| Other amounts payable | 47/48 | - | €205 | +€205 | |
| Accrued charges and deferred income | 492/3 | €9,607 | €3,909 | -€5,698 | -59.3% |
| Non-recurring operating income | 76A | €13,472 | - | -€13,472 | |
| Remuneration, social security and pensions | 62 | €12,716 | €7,448 | -€5,268 | -41.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,487 | €28,760 | +€14,274 | +98.5% |
| Other operating charges | 640/8 | €7,295 | €3,945 | -€3,350 | -45.9% |
| Non-recurring operating charges | 66A | €1,441 | - | -€1,441 | |
| Gross operating margin | 9900 | €111,090 | €190,756 | +€79,666 | +71.7% |
| Operating profit (loss) | 9901 | €75,153 | €150,604 | +€75,451 | +100.4% |
| Financial income | 75/76B | €22 | €20 | -€2 | -10.8% |
| Recurring financial income | 75 | €22 | €20 | -€2 | -10.8% |
| Financial charges | 65/66B | €27,802 | €28,340 | +€538 | +1.9% |
| Recurring financial charges | 65 | €27,802 | €28,340 | +€538 | +1.9% |
| Profit (loss) for the period before taxes | 9903 | €47,373 | €122,283 | +€74,911 | +158.1% |
| Income taxes | 67/77 | €14,092 | €37,722 | +€23,630 | +167.7% |
| Profit (loss) for the period | 9904 | €33,281 | €84,561 | +€51,281 | +154.1% |
| Profit (loss) for the period to be appropriated | 9905 | €33,281 | €84,561 | +€51,281 | +154.1% |
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 9 October 2026 via checked.be.