LOCOBEL: 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.
LOCOBEL
Largest movements
- Stocks and contracts +€73,240
up €73,240 (+253%), from €29,000 to €102,240
- Tangible fixed assets -€26,723
down €26,723 (-10.2%), from €261,641 to €234,918
of which Furniture and vehicles: -€13,792
- Receivables within one year +€12,308
up €12,308 (+8.2%), from €150,081 to €162,389
of which Trade receivables: +€12,270
- Deferred charges and accrued income -€7,521
down €7,521 (-35.5%), from €21,187 to €13,666
- Cash +€6,810
up €6,810 (+92.8%), from €7,335 to €14,145
mainly Depreciation (+€52,939) and Trade debts (+€48,912)
- Trade debts +€48,912
up €48,912 (+60.3%), from €81,075 to €129,987
- Short-term financial debts -€45,703
no longer reported in 2025 (was €45,703)
- Current portion of long-term debt +€41,466
new in 2025: €41,466
- Debts after one year -€35,182
down €35,182 (-43.9%), from €80,078 to €44,896
- Reserves +€33,136
up €33,136 (+37.0%), from €89,474 to €122,610
of which Non-distributable reserves: +€120,751
- Staff costs +€62,622
up €62,622 (+57.3%), from €109,246 to €171,868
- Taxes -€15,618
down €15,618 (-54.1%), from €28,887 to €13,269
- Gross operating margin +€10,345
up €10,345 (+3.9%), from €268,329 to €278,674
- Depreciation +€4,031
up €4,031 (+8.2%), from €48,908 to €52,939
- Financial income -€2,887
no longer reported in 2025 (was €2,887)
of which Financial income: -€2,887
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 | €476,289 | €534,403 | +€58,114 | +12.2% |
| Fixed assets | 21/28 | €268,686 | €241,963 | -€26,723 | -9.9% |
| Tangible fixed assets | 22/27 | €261,641 | €234,918 | -€26,723 | -10.2% |
| Land and buildings | 22 | €137,988 | €138,374 | +€386 | +0.3% |
| Plant, machinery and equipment | 23 | €57,687 | €44,370 | -€13,317 | -23.1% |
| Furniture and vehicles | 24 | €65,966 | €52,174 | -€13,792 | -20.9% |
| Financial fixed assets | 28 | €7,045 | €7,045 | = | 0.0% |
| Current assets | 29/58 | €207,603 | €292,440 | +€84,837 | +40.9% |
| Stocks and contracts in progress | 3 | €29,000 | €102,240 | +€73,240 | +253% |
| Stocks | 30/36 | €29,000 | €102,240 | +€73,240 | +253% |
| Amounts receivable within one year | 40/41 | €150,081 | €162,389 | +€12,308 | +8.2% |
| Trade receivables | 40 | €141,355 | €153,625 | +€12,270 | +8.7% |
| Other amounts receivable | 41 | €8,726 | €8,764 | +€38 | +0.4% |
| Cash at bank and in hand | 54/58 | €7,335 | €14,145 | +€6,810 | +92.8% |
| Deferred charges and accrued income | 490/1 | €21,187 | €13,666 | -€7,521 | -35.5% |
| Total equity and liabilities | 10/49 | €476,289 | €534,403 | +€58,114 | +12.2% |
| Equity | 10/15 | €108,066 | €141,202 | +€33,136 | +30.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €89,474 | €122,610 | +€33,136 | +37.0% |
| Non-distributable reserves | 130/1 | €1,859 | €122,610 | +€120,751 | +6,495% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Other | 1319 | - | €120,751 | +€120,751 | |
| Distributable reserves | 133 | €87,615 | - | -€87,615 | |
| Amounts payable | 17/49 | €368,223 | €393,201 | +€24,978 | +6.8% |
| Amounts payable after more than one year | 17 | €80,078 | €44,896 | -€35,182 | -43.9% |
| Financial debts | 170/4 | €80,078 | €44,896 | -€35,182 | -43.9% |
| Amounts payable within one year | 42/48 | €288,145 | €348,305 | +€60,160 | +20.9% |
| Current portion of amounts payable after more than one year | 42 | - | €41,466 | +€41,466 | |
| Financial debts | 43 | €45,703 | - | -€45,703 | |
| Credit institutions | 430/8 | €45,703 | - | -€45,703 | |
| Trade debts | 44 | €81,075 | €129,987 | +€48,912 | +60.3% |
| Suppliers | 440/4 | €81,075 | €129,987 | +€48,912 | +60.3% |
| Taxes, remuneration and social security | 45 | €32,435 | €46,282 | +€13,847 | +42.7% |
| Taxes | 450/3 | €29,317 | €42,846 | +€13,529 | +46.1% |
| Remuneration and social security | 454/9 | €3,118 | €3,436 | +€318 | +10.2% |
| Other amounts payable | 47/48 | €128,932 | €130,570 | +€1,638 | +1.3% |
| Remuneration, social security and pensions | 62 | €109,246 | €171,868 | +€62,622 | +57.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,908 | €52,939 | +€4,031 | +8.2% |
| Other operating charges | 640/8 | €1,047 | €2,056 | +€1,009 | +96.4% |
| Gross operating margin | 9900 | €268,329 | €278,674 | +€10,345 | +3.9% |
| Operating profit (loss) | 9901 | €109,128 | €51,811 | -€57,317 | -52.5% |
| Financial income | 75/76B | €2,887 | - | -€2,887 | |
| Recurring financial income | 75 | €2,887 | - | -€2,887 | |
| Non-recurring financial income | 76B | €2,887 | - | -€2,887 | |
| Financial charges | 65/66B | €6,078 | €5,406 | -€672 | -11.1% |
| Recurring financial charges | 65 | €6,078 | €5,406 | -€672 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €105,937 | €46,405 | -€59,532 | -56.2% |
| Income taxes | 67/77 | €28,887 | €13,269 | -€15,618 | -54.1% |
| Profit (loss) for the period | 9904 | €77,050 | €33,136 | -€43,914 | -57.0% |
| Profit (loss) for the period to be appropriated | 9905 | €77,050 | €33,136 | -€43,914 | -57.0% |
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 23 October 2026 via checked.be.