LOAL: 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.
LOAL
Largest movements
- Receivables within one year +€30,006
up €30,006 (+329.3%), from €9,111 to €39,117
of which Trade receivables: +€28,165
- Cash -€16,151
down €16,151 (-78.6%), from €20,552 to €4,400
mainly Receivables within one year (-€30,006) and Debts after one year (-€8,556)
- Tangible fixed assets -€10,431
down €10,431 (-49.2%), from €21,216 to €10,785
of which Leasing and similar rights: -€10,066
- Debts after one year -€8,556
no longer reported in 2025 (was €8,556)
- Tax, wage and social debts +€4,959
up €4,959 (+158.0%), from €3,138 to €8,097
- Reserves +€4,935
up €4,935 (+18.7%), from €26,379 to €31,314
- Trade debts +€2,607
up €2,607 (+1109.3%), from €235 to €2,842
- Gross operating margin +€7,778
up €7,778 (+68.4%), from €11,372 to €19,150
- Taxes +€1,318
up €1,318 (+192.1%), from €686 to €2,004
- Financial charges -€295
down €295 (-30.4%), from €970 to €675
of which Financial charges: -€315
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 | €50,879 | €54,474 | +€3,596 | +7.1% |
| Fixed assets | 21/28 | €21,216 | €10,785 | -€10,431 | -49.2% |
| Tangible fixed assets | 22/27 | €21,216 | €10,785 | -€10,431 | -49.2% |
| Plant, machinery and equipment | 23 | €1,360 | €995 | -€365 | -26.9% |
| Leasing and similar rights | 25 | €19,856 | €9,790 | -€10,066 | -50.7% |
| Current assets | 29/58 | €29,663 | €43,690 | +€14,027 | +47.3% |
| Amounts receivable within one year | 40/41 | €9,111 | €39,117 | +€30,006 | +329.3% |
| Trade receivables | 40 | €1,340 | €29,505 | +€28,165 | +2101.7% |
| Other amounts receivable | 41 | €7,771 | €9,613 | +€1,842 | +23.7% |
| Cash at bank and in hand | 54/58 | €20,552 | €4,400 | -€16,151 | -78.6% |
| Deferred charges and accrued income | 490/1 | - | €172 | +€172 | |
| Total equity and liabilities | 10/49 | €50,879 | €54,474 | +€3,596 | +7.1% |
| Equity | 10/15 | €29,379 | €34,314 | +€4,935 | +16.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €26,379 | €31,314 | +€4,935 | +18.7% |
| Distributable reserves | 133 | €26,379 | €31,314 | +€4,935 | +18.7% |
| Amounts payable | 17/49 | €21,500 | €20,161 | -€1,339 | -6.2% |
| Amounts payable after more than one year | 17 | €8,556 | - | -€8,556 | |
| Financial debts | 170/4 | €8,556 | - | -€8,556 | |
| Amounts payable within one year | 42/48 | €12,944 | €20,161 | +€7,217 | +55.8% |
| Current portion of amounts payable after more than one year | 42 | €8,970 | €8,556 | -€414 | -4.6% |
| Trade debts | 44 | €235 | €2,842 | +€2,607 | +1109.3% |
| Suppliers | 440/4 | €235 | €2,842 | +€2,607 | +1109.3% |
| Taxes, remuneration and social security | 45 | €3,138 | €8,097 | +€4,959 | +158.0% |
| Taxes | 450/3 | €3,138 | €8,097 | +€4,959 | +158.0% |
| Other amounts payable | 47/48 | €601 | €666 | +€65 | +10.8% |
| Non-recurring operating income | 76A | €0 | - | -€0 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,431 | €10,431 | = | 0.0% |
| Other operating charges | 640/8 | €343 | €272 | -€71 | -20.7% |
| Gross operating margin | 9900 | €11,372 | €19,150 | +€7,778 | +68.4% |
| Operating profit (loss) | 9901 | €598 | €8,447 | +€7,849 | +1313.2% |
| Financial charges | 65/66B | €970 | €675 | -€295 | -30.4% |
| Recurring financial charges | 65 | €970 | €655 | -€315 | -32.5% |
| Non-recurring financial charges | 66B | - | €20 | +€20 | |
| Profit (loss) for the period before taxes | 9903 | -€372 | €7,772 | +€8,144 | |
| Income taxes | 67/77 | €686 | €2,004 | +€1,318 | +192.1% |
| Profit (loss) for the period | 9904 | -€1,058 | €5,768 | +€6,826 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,058 | €5,768 | +€6,826 |
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 12 October 2026 via checked.be.