LOAR: 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.
LOAR
Largest movements
- Receivables within one year -€2,844
down €2,844 (-20.8%), from €13,682 to €10,838
- Deferred charges and accrued income -€765
down €765 (-49.8%), from €1,536 to €771
- Cash -€384
down €384 (-4.3%), from €9,006 to €8,622
mainly Net result for the year (-€5,158)
- Profit (loss) carried forward -€5,158
down €5,158 (-83.8%), from -€6,155 to -€11,313
- Trade debts +€1,166
new in 2025: €1,166
- Gross operating margin -€8,122
down €8,122, from €3,206 to -€4,916
- Financial income -€387
down €387 (-36.7%), from €1,054 to €667
- Staff costs +€72
up €72 (+71.1%), from €102 to €174
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 | €24,224 | €20,231 | -€3,992 | -16.5% |
| Current assets | 29/58 | €24,224 | €20,231 | -€3,992 | -16.5% |
| Amounts receivable within one year | 40/41 | €13,682 | €10,838 | -€2,844 | -20.8% |
| Other amounts receivable | 41 | €13,682 | €10,838 | -€2,844 | -20.8% |
| Cash at bank and in hand | 54/58 | €9,006 | €8,622 | -€384 | -4.3% |
| Deferred charges and accrued income | 490/1 | €1,536 | €771 | -€765 | -49.8% |
| Total equity and liabilities | 10/49 | €24,224 | €20,231 | -€3,992 | -16.5% |
| Equity | 10/15 | €23,888 | €18,730 | -€5,158 | -21.6% |
| Contributions | 10/11 | €12,600 | €12,600 | = | 0.0% |
| Reserves | 13 | €17,443 | €17,443 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €15,588 | €15,588 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,155 | -€11,313 | -€5,158 | -83.8% |
| Amounts payable | 17/49 | €335 | €1,501 | +€1,166 | +347.8% |
| Amounts payable within one year | 42/48 | €335 | €1,501 | +€1,166 | +347.8% |
| Trade debts | 44 | - | €1,166 | +€1,166 | |
| Suppliers | 440/4 | - | €1,166 | +€1,166 | |
| Taxes, remuneration and social security | 45 | €335 | €335 | = | 0.0% |
| Taxes | 450/3 | €335 | €335 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €102 | €174 | +€72 | +71.1% |
| Other operating charges | 640/8 | €665 | €685 | +€20 | +3.0% |
| Gross operating margin | 9900 | €3,206 | -€4,916 | -€8,122 | |
| Operating profit (loss) | 9901 | €2,439 | -€5,775 | -€8,214 | |
| Financial income | 75/76B | €1,054 | €667 | -€387 | -36.7% |
| Recurring financial income | 75 | €1,054 | €667 | -€387 | -36.7% |
| Financial charges | 65/66B | €56 | €50 | -€6 | -10.7% |
| Recurring financial charges | 65 | €56 | €50 | -€6 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €3,436 | -€5,158 | -€8,595 | |
| Profit (loss) for the period | 9904 | €3,436 | -€5,158 | -€8,595 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,436 | -€5,158 | -€8,595 |
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 29 September 2026 via checked.be.