LO PROJECTS: what changed
Two fiscal 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 PROJECTS
Largest movements
- Receivables within one year -€40,481
no longer reported in 2025 (was €40,481)
- Cash +€36,583
up €36,583 (+244.1%), from €14,985 to €51,568
mainly Receivables within one year (+€40,481) and Depreciation (+€13,582)
- Tangible fixed assets -€13,582
down €13,582 (-5.9%), from €230,096 to €216,514
of which Land and buildings: -€11,896
- Other debts -€12,729
down €12,729 (-19.9%), from €63,877 to €51,148
- Profit (loss) carried forward -€6,892
down €6,892 (-50.5%), from -€13,637 to -€20,529
- Gross operating margin +€4,649
up €4,649 (+55.7%), from €8,347 to €12,997
- Financial income -€1,604
no longer reported in 2025 (was €1,604)
- Financial charges -€1,081
down €1,081 (-20.8%), from €5,206 to €4,125
- Depreciation +€446
up €446 (+3.4%), from €13,136 to €13,582
- Other operating charges +€133
up €133 (+6.5%), from €2,049 to €2,182
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 | €286,686 | €268,082 | -€18,603 | -6.5% |
| Fixed assets | 21/28 | €230,096 | €216,514 | -€13,582 | -5.9% |
| Tangible fixed assets | 22/27 | €230,096 | €216,514 | -€13,582 | -5.9% |
| Land and buildings | 22 | €226,595 | €214,698 | -€11,896 | -5.3% |
| Plant, machinery and equipment | 23 | €3,502 | €1,816 | -€1,686 | -48.1% |
| Current assets | 29/58 | €56,589 | €51,568 | -€5,021 | -8.9% |
| Amounts receivable within one year | 40/41 | €40,481 | - | -€40,481 | |
| Other amounts receivable | 41 | €40,481 | - | -€40,481 | |
| Cash at bank and in hand | 54/58 | €14,985 | €51,568 | +€36,583 | +244.1% |
| Deferred charges and accrued income | 490/1 | €1,123 | - | -€1,123 | |
| Total equity and liabilities | 10/49 | €286,686 | €268,082 | -€18,603 | -6.5% |
| Equity | 10/15 | €214,043 | €207,150 | -€6,892 | -3.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €166,179 | €166,179 | = | 0.0% |
| Distributable reserves | 133 | €166,179 | €166,179 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,637 | -€20,529 | -€6,892 | -50.5% |
| Amounts payable | 17/49 | €72,643 | €60,932 | -€11,711 | -16.1% |
| Amounts payable within one year | 42/48 | €69,028 | €58,074 | -€10,954 | -15.9% |
| Trade debts | 44 | €3,602 | €5,701 | +€2,099 | +58.3% |
| Suppliers | 440/4 | €3,602 | €5,701 | +€2,099 | +58.3% |
| Taxes, remuneration and social security | 45 | €1,549 | €1,225 | -€324 | -20.9% |
| Taxes | 450/3 | €1,549 | €1,225 | -€324 | -20.9% |
| Other amounts payable | 47/48 | €63,877 | €51,148 | -€12,729 | -19.9% |
| Accrued charges and deferred income | 492/3 | €3,615 | €2,858 | -€757 | -20.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,136 | €13,582 | +€446 | +3.4% |
| Other operating charges | 640/8 | €2,049 | €2,182 | +€133 | +6.5% |
| Gross operating margin | 9900 | €8,347 | €12,997 | +€4,649 | +55.7% |
| Operating profit (loss) | 9901 | -€6,837 | -€2,767 | +€4,070 | +59.5% |
| Financial income | 75/76B | €1,604 | - | -€1,604 | |
| Recurring financial income | 75 | €1,604 | - | -€1,604 | |
| Financial charges | 65/66B | €5,206 | €4,125 | -€1,081 | -20.8% |
| Recurring financial charges | 65 | €5,206 | €4,125 | -€1,081 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | -€10,439 | -€6,892 | +€3,547 | +34.0% |
| Profit (loss) for the period | 9904 | -€10,439 | -€6,892 | +€3,547 | +34.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,439 | -€6,892 | +€3,547 | +34.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.