LOCI: 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.
LOCI
Largest movements
- Cash -€19,664
down €19,664 (-62.6%), from €31,411 to €11,747
mainly Net result for the year (-€62,774) and Trade debts (-€16,333)
- Stocks and contracts -€12,019
down €12,019 (-64.1%), from €18,751 to €6,732
- Intangible fixed assets -€7,112
down €7,112 (-39.4%), from €18,049 to €10,937
- Receivables within one year -€6,521
down €6,521 (-32.1%), from €20,286 to €13,765
of which Trade receivables: -€7,128
- Tangible fixed assets -€6,214
down €6,214 (-29.1%), from €21,344 to €15,129
of which Furniture and vehicles: -€4,966
- Profit (loss) carried forward -€62,774
down €62,774 (-223.0%), from -€28,151 to -€90,924
- Tax, wage and social debts +€19,024
up €19,024 (+58.4%), from €32,563 to €51,588
of which Taxes: +€21,341
- Trade debts -€16,333
down €16,333 (-24.8%), from €65,981 to €49,649
- Other debts +€7,848
up €7,848 (+32.7%), from €23,981 to €31,829
- Debts after one year -€3,977
down €3,977 (-43.7%), from €9,100 to €5,123
- Staff costs +€34,088
up €34,088 (+28.8%), from €118,279 to €152,367
- Gross operating margin -€15,284
down €15,284 (-12.4%), from €123,116 to €107,832
- Financial charges +€1,799
up €1,799 (+149.9%), from €1,201 to €3,000
- Depreciation -€1,232
down €1,232 (-8.1%), from €15,211 to €13,979
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 | €112,252 | €58,409 | -€53,842 | -48.0% |
| Formation expenses | 20 | €752 | €99 | -€653 | -86.8% |
| Fixed assets | 21/28 | €39,392 | €26,066 | -€13,326 | -33.8% |
| Intangible fixed assets | 21 | €18,049 | €10,937 | -€7,112 | -39.4% |
| Tangible fixed assets | 22/27 | €21,344 | €15,129 | -€6,214 | -29.1% |
| Plant, machinery and equipment | 23 | €3,108 | €1,996 | -€1,112 | -35.8% |
| Furniture and vehicles | 24 | €17,340 | €12,374 | -€4,966 | -28.6% |
| Other tangible fixed assets | 26 | €895 | €759 | -€136 | -15.2% |
| Current assets | 29/58 | €72,107 | €32,244 | -€39,863 | -55.3% |
| Stocks and contracts in progress | 3 | €18,751 | €6,732 | -€12,019 | -64.1% |
| Stocks | 30/36 | €18,751 | €6,732 | -€12,019 | -64.1% |
| Amounts receivable within one year | 40/41 | €20,286 | €13,765 | -€6,521 | -32.1% |
| Trade receivables | 40 | €16,010 | €8,882 | -€7,128 | -44.5% |
| Other amounts receivable | 41 | €4,277 | €4,883 | +€607 | +14.2% |
| Cash at bank and in hand | 54/58 | €31,411 | €11,747 | -€19,664 | -62.6% |
| Deferred charges and accrued income | 490/1 | €1,658 | - | -€1,658 | |
| Total equity and liabilities | 10/49 | €112,252 | €58,409 | -€53,842 | -48.0% |
| Equity | 10/15 | -€23,151 | -€85,924 | -€62,774 | -271.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,151 | -€90,924 | -€62,774 | -223.0% |
| Amounts payable | 17/49 | €135,402 | €144,333 | +€8,931 | +6.6% |
| Amounts payable after more than one year | 17 | €9,100 | €5,123 | -€3,977 | -43.7% |
| Financial debts | 170/4 | €9,100 | €5,123 | -€3,977 | -43.7% |
| Amounts payable within one year | 42/48 | €126,303 | €137,042 | +€10,740 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | €3,777 | €3,977 | +€200 | +5.3% |
| Trade debts | 44 | €65,981 | €49,649 | -€16,333 | -24.8% |
| Suppliers | 440/4 | €65,981 | €49,649 | -€16,333 | -24.8% |
| Taxes, remuneration and social security | 45 | €32,563 | €51,588 | +€19,024 | +58.4% |
| Taxes | 450/3 | €12,369 | €33,710 | +€21,341 | +172.5% |
| Remuneration and social security | 454/9 | €20,195 | €17,878 | -€2,317 | -11.5% |
| Other amounts payable | 47/48 | €23,981 | €31,829 | +€7,848 | +32.7% |
| Accrued charges and deferred income | 492/3 | - | €2,168 | +€2,168 | |
| Remuneration, social security and pensions | 62 | €118,279 | €152,367 | +€34,088 | +28.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,211 | €13,979 | -€1,232 | -8.1% |
| Other operating charges | 640/8 | €358 | €1,514 | +€1,156 | +323.1% |
| Gross operating margin | 9900 | €123,116 | €107,832 | -€15,284 | -12.4% |
| Operating profit (loss) | 9901 | -€10,733 | -€60,029 | -€49,296 | -459.3% |
| Financial income | 75/76B | €162 | €419 | +€256 | +157.8% |
| Recurring financial income | 75 | €162 | €419 | +€256 | +157.8% |
| Financial charges | 65/66B | €1,201 | €3,000 | +€1,799 | +149.9% |
| Recurring financial charges | 65 | €1,201 | €3,000 | +€1,799 | +149.9% |
| Profit (loss) for the period before taxes | 9903 | -€11,771 | -€62,610 | -€50,839 | -431.9% |
| Income taxes | 67/77 | €128 | €164 | +€36 | +27.9% |
| Profit (loss) for the period | 9904 | -€11,899 | -€62,774 | -€50,875 | -427.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,899 | -€62,774 | -€50,875 | -427.6% |
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 2 October 2026 via checked.be.