LOBECO: 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.
LOBECO
Largest movements
- Current investments -€200,000
no longer reported in 2025 (was €200,000)
- Cash +€169,787
up €169,787 (+193%), from €87,986 to €257,773
mainly Current investments (+€200,000) and Depreciation (+€152,600)
- Tangible fixed assets +€126,530
up €126,530 (+9.7%), from €1.3m to €1.4m
of which Plant, machinery and equipment: +€90,070
- Receivables within one year +€27,937
up €27,937 (+38.8%), from €71,956 to €99,893
- Reserves +€123,915
new in 2025: €123,915
- Profit (loss) carried forward -€48,232
down €48,232 (-7.9%), from €609,272 to €561,040
- Provisions +€41,305
new in 2025: €41,305
- Gross operating margin +€134,356
up €134,356 (+56.9%), from €236,248 to €370,604
- Turnover -€25,601
down €25,601 (-10.3%), from €247,360 to €221,759
- Other operating charges +€21,550
up €21,550 (+22.0%), from €97,958 to €119,508
- Depreciation +€21,434
up €21,434 (+16.3%), from €131,166 to €152,600
- Financial income +€11,608
up €11,608 (+134%), from €8,654 to €20,262
of which Non-recurring financial income: +€10,573
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 | €1,702,144 | €1,817,755 | +€115,611 | +6.8% |
| Fixed assets | 21/28 | €1,322,846 | €1,449,376 | +€126,530 | +9.6% |
| Tangible fixed assets | 22/27 | €1,304,329 | €1,430,859 | +€126,530 | +9.7% |
| Land and buildings | 22 | €1,259,821 | €1,296,281 | +€36,460 | +2.9% |
| Plant, machinery and equipment | 23 | €44,508 | €134,578 | +€90,070 | +202% |
| Financial fixed assets | 28 | €18,517 | €18,517 | = | 0.0% |
| Current assets | 29/58 | €379,298 | €368,379 | -€10,919 | -2.9% |
| Amounts receivable within one year | 40/41 | €71,956 | €99,893 | +€27,937 | +38.8% |
| Other amounts receivable | 41 | €71,956 | €99,893 | +€27,937 | +38.8% |
| Current investments | 50/53 | €200,000 | - | -€200,000 | |
| Cash at bank and in hand | 54/58 | €87,986 | €257,773 | +€169,787 | +193% |
| Deferred charges and accrued income | 490/1 | €19,356 | €10,713 | -€8,643 | -44.7% |
| Total equity and liabilities | 10/49 | €1,702,144 | €1,817,755 | +€115,611 | +6.8% |
| Equity | 10/15 | €1,684,272 | €1,759,955 | +€75,683 | +4.5% |
| Contributions | 10/11 | €1,075,000 | €1,075,000 | = | 0.0% |
| Capital | 10 | €1,075,000 | €1,075,000 | = | 0.0% |
| Issued capital | 100 | €1,075,000 | €1,075,000 | = | 0.0% |
| Reserves | 13 | - | €123,915 | +€123,915 | |
| Tax-exempt reserves | 132 | - | €123,915 | +€123,915 | |
| Profit (loss) carried forward | 14 | €609,272 | €561,040 | -€48,232 | -7.9% |
| Provisions and deferred taxes | 16 | - | €41,305 | +€41,305 | |
| Deferred taxes | 168 | - | €41,305 | +€41,305 | |
| Amounts payable | 17/49 | €17,872 | €16,495 | -€1,377 | -7.7% |
| Amounts payable within one year | 42/48 | €1,599 | €197 | -€1,402 | -87.7% |
| Taxes, remuneration and social security | 45 | €12 | €110 | +€98 | +817% |
| Remuneration and social security | 454/9 | €12 | €110 | +€98 | +817% |
| Other amounts payable | 47/48 | €1,587 | €87 | -€1,500 | -94.5% |
| Accrued charges and deferred income | 492/3 | €16,273 | €16,298 | +€25 | +0.2% |
| Turnover | 70 | €247,360 | €221,759 | -€25,601 | -10.3% |
| Non-recurring operating income | 76A | - | €169,016 | +€169,016 | |
| Goods, raw materials, services and sundry goods | 60/61 | €11,112 | €20,171 | +€9,059 | +81.5% |
| Remuneration, social security and pensions | 62 | €188 | €1,690 | +€1,502 | +799% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €131,166 | €152,600 | +€21,434 | +16.3% |
| Other operating charges | 640/8 | €97,958 | €119,508 | +€21,550 | +22.0% |
| Gross operating margin | 9900 | €236,248 | €370,604 | +€134,356 | +56.9% |
| Operating profit (loss) | 9901 | €6,936 | €96,806 | +€89,870 | +1,296% |
| Financial income | 75/76B | €8,654 | €20,262 | +€11,608 | +134% |
| Recurring financial income | 75 | €3,086 | €4,121 | +€1,035 | +33.5% |
| Non-recurring financial income | 76B | €5,568 | €16,141 | +€10,573 | +190% |
| Financial charges | 65/66B | €77 | €80 | +€3 | +3.9% |
| Recurring financial charges | 65 | €77 | €80 | +€3 | +3.9% |
| Profit (loss) for the period before taxes | 9903 | €15,513 | €116,988 | +€101,475 | +654% |
| Transfer from deferred taxes | 780 | - | €949 | +€949 | |
| Transfer to deferred taxes | 680 | - | €42,254 | +€42,254 | |
| Income taxes | 67/77 | €4,017 | - | -€4,017 | |
| Profit (loss) for the period | 9904 | €11,496 | €75,683 | +€64,187 | +558% |
| Transfer from tax-exempt reserves | 789 | - | €2,847 | +€2,847 | |
| Transfer to tax-exempt reserves | 689 | - | €126,762 | +€126,762 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,496 | -€48,232 | -€59,728 |
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 23 October 2026 via checked.be.