LOC'ARDENNE: what changed
LOC'ARDENNE
Largest movements
- Tangible fixed assets +€299,094
up €299,094 (+224%), from €133,610 to €432,704
of which Land and buildings: +€336,546
- Receivables within one year +€43,195
up €43,195 (+41.1%), from €105,221 to €148,415
of which Trade receivables: +€27,058
- Cash -€41,020
down €41,020 (-17.2%), from €238,179 to €197,159
mainly Investment in fixed assets (net) (-€357,707) and Contributions, distributions and other (-€100,000)
- Debts after one year +€206,018
up €206,018 (+282%), from €72,955 to €278,973
- Other debts +€43,526
up €43,526 (+27.4%), from €158,881 to €202,407
- Reserves +€25,553
up €25,553 (+16.4%), from €156,095 to €181,648
- Current portion of long-term debt +€16,649
up €16,649 (+63.2%), from €26,349 to €42,998
- Trade debts +€10,449
up €10,449 (+145%), from €7,185 to €17,634
- Financial charges +€5,959
up €5,959 (+81.0%), from €7,356 to €13,315
- Depreciation -€5,737
down €5,737 (-8.9%), from €64,350 to €58,612
- Gross operating margin +€4,921
up €4,921 (+1.8%), from €274,585 to €279,505
- Taxes -€4,681
down €4,681 (-9.2%), from €50,658 to €45,977
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €479,131 | €781,681 | +€302,549 | +63.1% |
| Fixed assets | 21/28 | €135,610 | €434,704 | +€299,094 | +221% |
| Tangible fixed assets | 22/27 | €133,610 | €432,704 | +€299,094 | +224% |
| Land and buildings | 22 | - | €336,546 | +€336,546 | |
| Plant, machinery and equipment | 23 | €106,080 | €81,394 | -€24,686 | -23.3% |
| Furniture and vehicles | 24 | €27,530 | €14,765 | -€12,765 | -46.4% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €343,521 | €346,976 | +€3,455 | +1.0% |
| Amounts receivable within one year | 40/41 | €105,221 | €148,415 | +€43,195 | +41.1% |
| Trade receivables | 40 | €102,030 | €129,088 | +€27,058 | +26.5% |
| Other amounts receivable | 41 | €3,190 | €19,327 | +€16,137 | +506% |
| Cash at bank and in hand | 54/58 | €238,179 | €197,159 | -€41,020 | -17.2% |
| Deferred charges and accrued income | 490/1 | €122 | €1,402 | +€1,280 | +1,051% |
| Total equity and liabilities | 10/49 | €479,131 | €781,681 | +€302,549 | +63.1% |
| Equity | 10/15 | €181,095 | €206,648 | +€25,553 | +14.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €156,095 | €181,648 | +€25,553 | +16.4% |
| Distributable reserves | 133 | €156,095 | €181,648 | +€25,553 | +16.4% |
| Amounts payable | 17/49 | €298,037 | €575,033 | +€276,996 | +92.9% |
| Amounts payable after more than one year | 17 | €72,955 | €278,973 | +€206,018 | +282% |
| Financial debts | 170/4 | €72,955 | €278,973 | +€206,018 | +282% |
| Amounts payable within one year | 42/48 | €225,035 | €296,060 | +€71,025 | +31.6% |
| Current portion of amounts payable after more than one year | 42 | €26,349 | €42,998 | +€16,649 | +63.2% |
| Trade debts | 44 | €7,185 | €17,634 | +€10,449 | +145% |
| Suppliers | 440/4 | €7,185 | €17,634 | +€10,449 | +145% |
| Taxes, remuneration and social security | 45 | €32,621 | €33,021 | +€401 | +1.2% |
| Taxes | 450/3 | €32,621 | €33,021 | +€401 | +1.2% |
| Other amounts payable | 47/48 | €158,881 | €202,407 | +€43,526 | +27.4% |
| Accrued charges and deferred income | 492/3 | €47 | - | -€47 | |
| Remuneration, social security and pensions | 62 | €31,115 | €33,213 | +€2,097 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,350 | €58,612 | -€5,737 | -8.9% |
| Other operating charges | 640/8 | €1,989 | €2,970 | +€981 | +49.3% |
| Gross operating margin | 9900 | €274,585 | €279,505 | +€4,921 | +1.8% |
| Operating profit (loss) | 9901 | €177,131 | €184,710 | +€7,579 | +4.3% |
| Financial income | 75/76B | - | €135 | +€135 | |
| Recurring financial income | 75 | - | €135 | +€135 | |
| Financial charges | 65/66B | €7,356 | €13,315 | +€5,959 | +81.0% |
| Recurring financial charges | 65 | €7,356 | €13,315 | +€5,959 | +81.0% |
| Profit (loss) for the period before taxes | 9903 | €169,775 | €171,530 | +€1,755 | +1.0% |
| Income taxes | 67/77 | €50,658 | €45,977 | -€4,681 | -9.2% |
| Profit (loss) for the period | 9904 | €119,117 | €125,553 | +€6,436 | +5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €119,117 | €125,553 | +€6,436 | +5.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.