LOCO: 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.
LOCO
Largest movements
- Tangible fixed assets +€620,439
up €620,439 (+85.4%), from €726,382 to €1.3m
of which Land and buildings: +€663,972
- Receivables within one year +€77,626
up €77,626 (+66.2%), from €117,269 to €194,895
of which Trade receivables: +€53,904
- Cash -€24,191
no longer reported in 2025 (was €24,191)
mainly Investment in fixed assets (net) (-€817,590) and Receivables within one year (-€77,626)
- Debts after one year +€486,214
up €486,214 (+158%), from €307,615 to €793,829
of which Financial debts: +€349,671
- Trade debts +€146,093
up €146,093 (+57.1%), from €255,851 to €401,944
- Current portion of long-term debt +€36,584
up €36,584 (+99.4%), from €36,807 to €73,391
- Depreciation +€29,017
up €29,017 (+17.3%), from €168,134 to €197,151
- Gross operating margin -€20,416
down €20,416 (-5.3%), from €383,874 to €363,458
- Staff costs -€14,625
down €14,625 (-11.9%), from €123,319 to €108,694
- Other operating charges +€9,118
up €9,118 (+170%), from €5,362 to €14,480
- Financial charges +€4,994
up €4,994 (+18.5%), from €26,970 to €31,963
of which Financial charges: +€7,267
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €935,602 | €1,605,532 | +€669,930 | +71.6% |
| Fixed assets | 21/28 | €766,197 | €1,386,636 | +€620,439 | +81.0% |
| Tangible fixed assets | 22/27 | €726,382 | €1,346,821 | +€620,439 | +85.4% |
| Land and buildings | 22 | €65,000 | €728,972 | +€663,972 | +1,021% |
| Plant, machinery and equipment | 23 | €435,081 | €380,665 | -€54,416 | -12.5% |
| Furniture and vehicles | 24 | €226,301 | €237,184 | +€10,883 | +4.8% |
| Financial fixed assets | 28 | €39,815 | €39,815 | = | 0.0% |
| Current assets | 29/58 | €169,405 | €218,896 | +€49,491 | +29.2% |
| Stocks and contracts in progress | 3 | €27,945 | €23,701 | -€4,244 | -15.2% |
| Stocks | 30/36 | €27,945 | €23,701 | -€4,244 | -15.2% |
| Amounts receivable within one year | 40/41 | €117,269 | €194,895 | +€77,626 | +66.2% |
| Trade receivables | 40 | €70,375 | €124,279 | +€53,904 | +76.6% |
| Other amounts receivable | 41 | €46,894 | €70,616 | +€23,722 | +50.6% |
| Cash at bank and in hand | 54/58 | €24,191 | - | -€24,191 | |
| Deferred charges and accrued income | 490/1 | - | €300 | +€300 | |
| Total equity and liabilities | 10/49 | €935,602 | €1,605,532 | +€669,930 | +71.6% |
| Equity | 10/15 | €305,786 | €306,767 | +€981 | +0.3% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €255,786 | €256,767 | +€981 | +0.4% |
| Distributable reserves | 133 | €255,786 | €256,767 | +€981 | +0.4% |
| Amounts payable | 17/49 | €629,816 | €1,298,765 | +€668,949 | +106% |
| Amounts payable after more than one year | 17 | €307,615 | €793,829 | +€486,214 | +158% |
| Financial debts | 170/4 | €307,615 | €657,286 | +€349,671 | +114% |
| Other amounts payable | 178/9 | - | €136,543 | +€136,543 | |
| Amounts payable within one year | 42/48 | €319,701 | €504,936 | +€185,235 | +57.9% |
| Current portion of amounts payable after more than one year | 42 | €36,807 | €73,391 | +€36,584 | +99.4% |
| Financial debts | 43 | - | €2,201 | +€2,201 | |
| Credit institutions | 430/8 | - | €2,201 | +€2,201 | |
| Trade debts | 44 | €255,851 | €401,944 | +€146,093 | +57.1% |
| Suppliers | 440/4 | €255,851 | €401,944 | +€146,093 | +57.1% |
| Taxes, remuneration and social security | 45 | €27,044 | €27,400 | +€356 | +1.3% |
| Taxes | 450/3 | €26,564 | €27,400 | +€836 | +3.1% |
| Remuneration and social security | 454/9 | €480 | - | -€480 | |
| Accrued charges and deferred income | 492/3 | €2,500 | - | -€2,500 | |
| Remuneration, social security and pensions | 62 | €123,319 | €108,694 | -€14,625 | -11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €168,134 | €197,151 | +€29,017 | +17.3% |
| Other operating charges | 640/8 | €5,362 | €14,480 | +€9,118 | +170% |
| Gross operating margin | 9900 | €383,874 | €363,458 | -€20,416 | -5.3% |
| Operating profit (loss) | 9901 | €87,059 | €43,133 | -€43,926 | -50.5% |
| Financial income | 75/76B | - | €3,973 | +€3,973 | |
| Recurring financial income | 75 | - | €3,973 | +€3,973 | |
| Financial charges | 65/66B | €26,970 | €31,963 | +€4,994 | +18.5% |
| Recurring financial charges | 65 | €24,696 | €31,963 | +€7,267 | +29.4% |
| Non-recurring financial charges | 66B | €2,274 | - | -€2,274 | |
| Profit (loss) for the period before taxes | 9903 | €60,089 | €15,143 | -€44,947 | -74.8% |
| Income taxes | 67/77 | €15,100 | €14,161 | -€939 | -6.2% |
| Profit (loss) for the period | 9904 | €44,989 | €981 | -€44,008 | -97.8% |
| Profit (loss) for the period to be appropriated | 9905 | €44,989 | €981 | -€44,008 | -97.8% |
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 16 October 2026 via checked.be.