LOCASALM: 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.
What changed
LOCASALM
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€84,360
2024 · €59,738+€24,622
Equity
€1.4m
2024 · €1.4m-€8,755
Cash
€1,522
2024 · €2,442-€920
Balance sheet total
€7.8m
2024 · €8.1m-€230,065
Largest movements
Assets
- Tangible fixed assets -€260,118
down €260,118 (-3.5%), from €7.4m to €7.1m
of which Land and buildings: -€487,936
Equity and liabilities
- Debts after one year -€626,732
down €626,732 (-14.3%), from €4.4m to €3.8m
- Trade debts +€224,946
up €224,946 (+79.2%), from €283,975 to €508,922
- Other debts +€131,709
up €131,709 (+12.3%), from €1.1m to €1.2m
Income statement
- Gross operating margin +€36,219
up €36,219 (+4.1%), from €885,944 to €922,163
- Taxes +€21,491
up €21,491 (+298%), from €7,210 to €28,701
- Depreciation -€21,338
down €21,338 (-4.6%), from €468,624 to €447,286
- Financial charges +€15,523
up €15,523 (+7.7%), from €202,698 to €218,221
- Other operating charges +€9,670
up €9,670 (+7.3%), from €132,038 to €141,708
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.
Result 2024
€59,738
Gross operating margin
+€36,219
Depreciation
+€21,338
Other operating charges
-€9,670
Financial income
+€4,261
Financial charges
-€15,523
Taxes
-€21,491
Deferred taxes and other
+€9,488
Result 2025
€84,360
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€899,832
Investment
-€187,168
Financing
-€713,585
Cash 2024
€2,442
From operations (derived)
+€899,832
Net result for the year
+€84,360
Depreciation
+€447,286
Receivables within one year
-€5,609
Deferred charges and accrued income
-€25,365
Provisions
+€6,148
Trade debts
+€224,946
Tax, wage and social debts
+€54,299
Other debts
+€131,709
Accrued charges and deferred income
-€17,942
Investment (derived)
-€187,168
Investment in fixed assets (net)
-€187,168
Financing
-€713,585
Debts after one year
-€626,732
Current portion of long-term debt
+€6,269
Short-term financial debts
-€7
Contributions, distributions and other
-€93,114
Cash 2025
€1,522
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,056,749 | €7,826,684 | -€230,065 | -2.9% |
| Fixed assets | 21/28 | €8,036,480 | €7,776,361 | -€260,118 | -3.2% |
| Tangible fixed assets | 22/27 | €7,356,562 | €7,096,443 | -€260,118 | -3.5% |
| Land and buildings | 22 | €6,547,819 | €6,059,882 | -€487,936 | -7.5% |
| Plant, machinery and equipment | 23 | €808,743 | €1,036,561 | +€227,818 | +28.2% |
| Financial fixed assets | 28 | €679,918 | €679,918 | = | 0.0% |
| Current assets | 29/58 | €20,270 | €50,323 | +€30,053 | +148% |
| Amounts receivable within one year | 40/41 | €17,827 | €23,436 | +€5,609 | +31.5% |
| Trade receivables | 40 | €17,827 | €23,436 | +€5,609 | +31.5% |
| Cash at bank and in hand | 54/58 | €2,442 | €1,522 | -€920 | -37.7% |
| Deferred charges and accrued income | 490/1 | - | €25,365 | +€25,365 | |
| Total equity and liabilities | 10/49 | €8,056,749 | €7,826,684 | -€230,065 | -2.9% |
| Equity | 10/15 | €1,388,703 | €1,379,948 | -€8,755 | -0.6% |
| Contributions | 10/11 | €504,711 | €504,711 | = | 0.0% |
| Capital | 10 | €504,711 | €504,711 | = | 0.0% |
| Issued capital | 100 | €504,711 | €504,711 | = | 0.0% |
| Reserves | 13 | €804,177 | €795,422 | -€8,755 | -1.1% |
| Non-distributable reserves | 130/1 | €50,471 | €50,471 | = | 0.0% |
| Legal reserve | 130 | €50,471 | €50,471 | = | 0.0% |
| Tax-exempt reserves | 132 | €456,681 | €485,399 | +€28,718 | +6.3% |
| Distributable reserves | 133 | €297,025 | €259,552 | -€37,472 | -12.6% |
| Profit (loss) carried forward | 14 | €79,815 | €79,815 | = | 0.0% |
| Provisions and deferred taxes | 16 | €183,221 | €189,369 | +€6,148 | +3.4% |
| Deferred taxes | 168 | €183,221 | €189,369 | +€6,148 | +3.4% |
| Amounts payable | 17/49 | €6,484,825 | €6,257,367 | -€227,458 | -3.5% |
| Amounts payable after more than one year | 17 | €4,380,091 | €3,753,359 | -€626,732 | -14.3% |
| Financial debts | 170/4 | €4,380,091 | €3,753,359 | -€626,732 | -14.3% |
| Amounts payable within one year | 42/48 | €2,019,409 | €2,436,624 | +€417,216 | +20.7% |
| Current portion of amounts payable after more than one year | 42 | €659,640 | €665,909 | +€6,269 | +1.0% |
| Financial debts | 43 | €7 | €0 | -€7 | -100% |
| Credit institutions | 430/8 | €7 | €0 | -€7 | -100% |
| Trade debts | 44 | €283,975 | €508,922 | +€224,946 | +79.2% |
| Suppliers | 440/4 | €283,975 | €508,922 | +€224,946 | +79.2% |
| Taxes, remuneration and social security | 45 | €7,210 | €61,510 | +€54,299 | +753% |
| Taxes | 450/3 | €7,210 | €61,510 | +€54,299 | +753% |
| Other amounts payable | 47/48 | €1,068,575 | €1,200,284 | +€131,709 | +12.3% |
| Accrued charges and deferred income | 492/3 | €85,326 | €67,384 | -€17,942 | -21.0% |
| Non-recurring operating income | 76A | €176,217 | €95,059 | -€81,158 | -46.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €468,624 | €447,286 | -€21,338 | -4.6% |
| Other operating charges | 640/8 | €132,038 | €141,708 | +€9,670 | +7.3% |
| Gross operating margin | 9900 | €885,944 | €922,163 | +€36,219 | +4.1% |
| Operating profit (loss) | 9901 | €285,281 | €333,169 | +€47,887 | +16.8% |
| Financial income | 75/76B | €0 | €4,261 | +€4,261 | +1,420,310% |
| Recurring financial income | 75 | €0 | €4,261 | +€4,261 | +1,420,310% |
| Financial charges | 65/66B | €202,698 | €218,221 | +€15,523 | +7.7% |
| Recurring financial charges | 65 | €202,698 | €218,221 | +€15,523 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | €82,584 | €119,209 | +€36,625 | +44.3% |
| Transfer from deferred taxes | 780 | €14,899 | €17,237 | +€2,339 | +15.7% |
| Transfer to deferred taxes | 680 | €30,534 | €23,385 | -€7,149 | -23.4% |
| Income taxes | 67/77 | €7,210 | €28,701 | +€21,491 | +298% |
| Profit (loss) for the period | 9904 | €59,738 | €84,360 | +€24,622 | +41.2% |
| Transfer from tax-exempt reserves | 789 | €34,422 | €41,438 | +€7,016 | +20.4% |
| Transfer to tax-exempt reserves | 689 | €91,602 | €70,155 | -€21,447 | -23.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,558 | €55,642 | +€53,084 | +2,075% |
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 17 October 2026 via checked.be.