LOAX: 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.
LOAX
Largest movements
- Cash -€61,163
down €61,163 (-53.3%), from €114,694 to €53,531
mainly Contributions, distributions and other (-€52,029) and Tax, wage and social debts (-€32,030)
- Receivables within one year +€22,579
up €22,579 (+69.8%), from €32,371 to €54,950
of which Trade receivables: +€20,245
- Tax, wage and social debts -€32,030
down €32,030 (-51.4%), from €62,321 to €30,291
of which Taxes: -€32,252
- Reserves -€12,111
down €12,111 (-7.6%), from €159,227 to €147,117
- Current portion of long-term debt +€7,534
new in 2025: €7,534
- Other debts -€4,167
down €4,167 (-7.4%), from €56,196 to €52,029
- Gross operating margin +€44,707
up €44,707 (+59.8%), from €74,724 to €119,430
- Taxes +€13,658
up €13,658 (+170%), from €8,030 to €21,689
- Depreciation -€2,229
down €2,229 (-17.8%), from €12,519 to €10,291
- Other operating charges -€2,057
down €2,057 (-78.1%), from €2,634 to €578
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 | €304,655 | €265,172 | -€39,484 | -13.0% |
| Fixed assets | 21/28 | €32,590 | €31,690 | -€900 | -2.8% |
| Tangible fixed assets | 22/27 | €32,590 | €31,690 | -€900 | -2.8% |
| Land and buildings | 22 | €11,526 | €14,666 | +€3,140 | +27.2% |
| Plant, machinery and equipment | 23 | €12,124 | €10,091 | -€2,033 | -16.8% |
| Furniture and vehicles | 24 | €8,939 | €6,933 | -€2,006 | -22.4% |
| Current assets | 29/58 | €272,065 | €233,482 | -€38,584 | -14.2% |
| Amounts receivable after more than one year | 29 | €125,000 | €125,000 | = | 0.0% |
| Other amounts receivable | 291 | €125,000 | €125,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €32,371 | €54,950 | +€22,579 | +69.8% |
| Trade receivables | 40 | €21,859 | €42,103 | +€20,245 | +92.6% |
| Other amounts receivable | 41 | €10,513 | €12,847 | +€2,335 | +22.2% |
| Cash at bank and in hand | 54/58 | €114,694 | €53,531 | -€61,163 | -53.3% |
| Total equity and liabilities | 10/49 | €304,655 | €265,172 | -€39,484 | -13.0% |
| Equity | 10/15 | €170,975 | €158,864 | -€12,111 | -7.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €159,227 | €147,117 | -€12,111 | -7.6% |
| Distributable reserves | 133 | €159,227 | €147,117 | -€12,111 | -7.6% |
| Profit (loss) carried forward | 14 | €5,547 | €5,547 | = | 0.0% |
| Amounts payable | 17/49 | €133,681 | €106,308 | -€27,373 | -20.5% |
| Amounts payable within one year | 42/48 | €133,681 | €106,308 | -€27,373 | -20.5% |
| Current portion of amounts payable after more than one year | 42 | - | €7,534 | +€7,534 | |
| Trade debts | 44 | €15,164 | €16,453 | +€1,290 | +8.5% |
| Suppliers | 440/4 | €15,164 | €16,453 | +€1,290 | +8.5% |
| Taxes, remuneration and social security | 45 | €62,321 | €30,291 | -€32,030 | -51.4% |
| Taxes | 450/3 | €56,117 | €23,865 | -€32,252 | -57.5% |
| Remuneration and social security | 454/9 | €6,204 | €6,426 | +€222 | +3.6% |
| Other amounts payable | 47/48 | €56,196 | €52,029 | -€4,167 | -7.4% |
| Remuneration, social security and pensions | 62 | €48,767 | €49,291 | +€524 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,519 | €10,291 | -€2,229 | -17.8% |
| Other operating charges | 640/8 | €2,634 | €578 | -€2,057 | -78.1% |
| Gross operating margin | 9900 | €74,724 | €119,430 | +€44,707 | +59.8% |
| Operating profit (loss) | 9901 | €10,803 | €59,271 | +€48,468 | +449% |
| Financial income | 75/76B | €3,465 | €3,961 | +€496 | +14.3% |
| Recurring financial income | 75 | €3,465 | €3,961 | +€496 | +14.3% |
| Financial charges | 65/66B | €1,209 | €1,625 | +€415 | +34.4% |
| Recurring financial charges | 65 | €1,209 | €1,625 | +€415 | +34.4% |
| Profit (loss) for the period before taxes | 9903 | €13,058 | €61,607 | +€48,549 | +372% |
| Income taxes | 67/77 | €8,030 | €21,689 | +€13,658 | +170% |
| Profit (loss) for the period | 9904 | €5,028 | €39,918 | +€34,891 | +694% |
| Profit (loss) for the period to be appropriated | 9905 | €5,028 | €39,918 | +€34,891 | +694% |
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 28 October 2026 via checked.be.