LOCATOR: 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.
LOCATOR
Largest movements
- Current investments +€241,099
new in 2025: €241,099
- Cash -€85,930
down €85,930 (-50.8%), from €169,083 to €83,153
mainly Current investments (-€241,099) and Investment in fixed assets (net) (-€25,547)
- Receivables within one year -€24,199
down €24,199 (-73.1%), from €33,123 to €8,924
of which Other amounts receivable: -€21,391
- Tangible fixed assets -€10,307
down €10,307 (-2.2%), from €476,584 to €466,277
of which Land and buildings: -€32,307
- Reserves +€95,712
up €95,712 (+15.5%), from €616,726 to €712,438
of which Distributable reserves: +€95,712
- Tax, wage and social debts +€23,731
up €23,731 (+56.7%), from €41,852 to €65,583
of which Taxes: +€18,062
- Gross operating margin -€342,804
down €342,804 (-63.9%), from €536,594 to €193,790
- Taxes -€105,468
down €105,468 (-62.1%), from €169,742 to €64,275
- Financial charges -€9,684
down €9,684 (-87.8%), from €11,026 to €1,342
- Financial income +€6,676
up €6,676 (+554.0%), from €1,205 to €7,881
- Depreciation -€6,520
down €6,520 (-15.4%), from €42,374 to €35,854
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 | €678,791 | €799,454 | +€120,663 | +17.8% |
| Fixed assets | 21/28 | €476,584 | €466,277 | -€10,307 | -2.2% |
| Tangible fixed assets | 22/27 | €476,584 | €466,277 | -€10,307 | -2.2% |
| Land and buildings | 22 | €445,394 | €413,087 | -€32,307 | -7.3% |
| Plant, machinery and equipment | 23 | €31,190 | €53,190 | +€22,000 | +70.5% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €202,207 | €333,177 | +€130,970 | +64.8% |
| Amounts receivable within one year | 40/41 | €33,123 | €8,924 | -€24,199 | -73.1% |
| Trade receivables | 40 | €2,808 | €0 | -€2,808 | -100.0% |
| Other amounts receivable | 41 | €30,315 | €8,924 | -€21,391 | -70.6% |
| Current investments | 50/53 | - | €241,099 | +€241,099 | |
| Cash at bank and in hand | 54/58 | €169,083 | €83,153 | -€85,930 | -50.8% |
| Total equity and liabilities | 10/49 | €678,791 | €799,454 | +€120,663 | +17.8% |
| Equity | 10/15 | €635,326 | €731,038 | +€95,712 | +15.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €616,726 | €712,438 | +€95,712 | +15.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €25,029 | €25,029 | = | 0.0% |
| Distributable reserves | 133 | €589,837 | €685,549 | +€95,712 | +16.2% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €43,465 | €68,416 | +€24,951 | +57.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €42,265 | €67,216 | +€24,951 | +59.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €413 | €287 | -€126 | -30.5% |
| Suppliers | 440/4 | €413 | €287 | -€126 | -30.5% |
| Taxes, remuneration and social security | 45 | €41,852 | €65,583 | +€23,731 | +56.7% |
| Taxes | 450/3 | €41,852 | €59,914 | +€18,062 | +43.2% |
| Remuneration and social security | 454/9 | - | €5,670 | +€5,670 | |
| Other amounts payable | 47/48 | - | €1,346 | +€1,346 | |
| Accrued charges and deferred income | 492/3 | €1,200 | €1,200 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,374 | €35,854 | -€6,520 | -15.4% |
| Other operating charges | 640/8 | €9,983 | €4,488 | -€5,494 | -55.0% |
| Gross operating margin | 9900 | €536,594 | €193,790 | -€342,804 | -63.9% |
| Operating profit (loss) | 9901 | €484,237 | €153,448 | -€330,790 | -68.3% |
| Financial income | 75/76B | €1,205 | €7,881 | +€6,676 | +554.0% |
| Recurring financial income | 75 | €1,205 | €7,881 | +€6,676 | +554.0% |
| Financial charges | 65/66B | €11,026 | €1,342 | -€9,684 | -87.8% |
| Recurring financial charges | 65 | €11,026 | €1,342 | -€9,684 | -87.8% |
| Profit (loss) for the period before taxes | 9903 | €474,417 | €159,987 | -€314,430 | -66.3% |
| Transfer from deferred taxes | 780 | €13,312 | €0 | -€13,312 | -100.0% |
| Income taxes | 67/77 | €169,742 | €64,275 | -€105,468 | -62.1% |
| Profit (loss) for the period | 9904 | €317,987 | €95,712 | -€222,274 | -69.9% |
| Transfer from tax-exempt reserves | 789 | €53,383 | €0 | -€53,383 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €371,369 | €95,712 | -€275,657 | -74.2% |
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 4 October 2026 via checked.be.