LOCO: 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.
LOCO
Largest movements
- Current investments +€750,167
new in 2025: €750,167
- Receivables after one year +€185,799
up €185,799 (+248.5%), from €74,755 to €260,554
- Tangible fixed assets -€98,850
no longer reported in 2025 (was €98,850)
of which Land and buildings: -€75,858
- Receivables within one year +€16,891
up €16,891 (+35.3%), from €47,794 to €64,685
of which Trade receivables: +€12,742
- Cash -€15,154
down €15,154 (-43.0%), from €35,225 to €20,071
mainly Current investments (-€750,167) and Receivables after one year (-€185,799)
- Reserves +€841,781
up €841,781 (+400.1%), from €210,411 to €1.1m
- Gross operating margin +€1.2m
up €1.2m (+3856.4%), from €29,939 to €1.2m
- Taxes +€318,496
up €318,496 (+1394.5%), from €22,840 to €341,336
- Provisions +€63,068
no longer reported in 2025 (was -€63,068)
- Depreciation -€16,444
no longer reported in 2025 (was €16,444)
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 | €258,402 | €1,095,476 | +€837,074 | +323.9% |
| Fixed assets | 21/28 | €100,628 | - | -€100,628 | |
| Intangible fixed assets | 21 | €1,340 | - | -€1,340 | |
| Tangible fixed assets | 22/27 | €98,850 | - | -€98,850 | |
| Land and buildings | 22 | €75,858 | - | -€75,858 | |
| Furniture and vehicles | 24 | €22,992 | - | -€22,992 | |
| Financial fixed assets | 28 | €438 | - | -€438 | |
| Current assets | 29/58 | €157,774 | €1,095,476 | +€937,703 | +594.3% |
| Amounts receivable after more than one year | 29 | €74,755 | €260,554 | +€185,799 | +248.5% |
| Other amounts receivable | 291 | €74,755 | €260,554 | +€185,799 | +248.5% |
| Amounts receivable within one year | 40/41 | €47,794 | €64,685 | +€16,891 | +35.3% |
| Trade receivables | 40 | €24,715 | €37,457 | +€12,742 | +51.6% |
| Other amounts receivable | 41 | €23,079 | €27,228 | +€4,149 | +18.0% |
| Current investments | 50/53 | - | €750,167 | +€750,167 | |
| Cash at bank and in hand | 54/58 | €35,225 | €20,071 | -€15,154 | -43.0% |
| Total equity and liabilities | 10/49 | €258,402 | €1,095,476 | +€837,074 | +323.9% |
| Equity | 10/15 | €235,411 | €1,077,192 | +€841,781 | +357.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €210,411 | €1,052,192 | +€841,781 | +400.1% |
| Distributable reserves | 133 | €210,411 | €1,052,192 | +€841,781 | +400.1% |
| Amounts payable | 17/49 | €22,991 | €18,284 | -€4,707 | -20.5% |
| Amounts payable within one year | 42/48 | €19,471 | €18,284 | -€1,187 | -6.1% |
| Trade debts | 44 | €12,975 | €10,733 | -€2,242 | -17.3% |
| Suppliers | 440/4 | €12,975 | €10,733 | -€2,242 | -17.3% |
| Taxes, remuneration and social security | 45 | €6,496 | €7,551 | +€1,056 | +16.3% |
| Taxes | 450/3 | €6,496 | €7,551 | +€1,056 | +16.3% |
| Accrued charges and deferred income | 492/3 | €3,520 | - | -€3,520 | |
| Non-recurring operating income | 76A | €32,545 | €1,180,662 | +€1.1m | +3527.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,444 | - | -€16,444 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€63,068 | - | +€63,068 | |
| Other operating charges | 640/8 | €8,900 | €2,765 | -€6,135 | -68.9% |
| Non-recurring operating charges | 66A | - | €6,712 | +€6,712 | |
| Gross operating margin | 9900 | €29,939 | €1,184,473 | +€1.2m | +3856.4% |
| Operating profit (loss) | 9901 | €67,663 | €1,174,996 | +€1.1m | +1636.5% |
| Financial income | 75/76B | €2,245 | €8,223 | +€5,977 | +266.2% |
| Recurring financial income | 75 | €2,245 | €8,223 | +€5,977 | +266.2% |
| Financial charges | 65/66B | €196 | €102 | -€94 | -48.1% |
| Recurring financial charges | 65 | €196 | €102 | -€94 | -48.1% |
| Profit (loss) for the period before taxes | 9903 | €69,712 | €1,183,117 | +€1.1m | +1597.1% |
| Income taxes | 67/77 | €22,840 | €341,336 | +€318,496 | +1394.5% |
| Profit (loss) for the period | 9904 | €46,872 | €841,781 | +€794,909 | +1695.9% |
| Profit (loss) for the period to be appropriated | 9905 | €46,872 | €841,781 | +€794,909 | +1695.9% |
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.