LOCY: 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.
What changed
LOCY
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€48,090
2024 · €122,564-€170,654
Equity
€393,938
2024 · €442,028-€48,090
Cash
€23,822
2024 · €32,040-€8,217
Balance sheet total
€1.3m
2024 · €1.2m+€109,902
Largest movements
Assets
- Tangible fixed assets +€116,743
up €116,743 (+9.9%), from €1.2m to €1.3m
of which Land and buildings: +€130,273
Equity and liabilities
- Debts after one year +€139,125
up €139,125 (+20.3%), from €686,524 to €825,649
- Profit (loss) carried forward -€42,893
down €42,893 (-83.4%), from -€51,453 to -€94,346
Income statement
- Gross operating margin -€190,006
down €190,006 (-71.5%), from €265,859 to €75,853
- Depreciation +€12,016
up €12,016 (+18.0%), from €66,800 to €78,816
- Financial charges +€8,295
up €8,295 (+36.6%), from €22,664 to €30,959
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.
Result 2024
€122,564
Gross operating margin
-€190,006
Depreciation
-€12,016
Other operating charges
+€640
Financial charges
-€8,295
Taxes
+€8
Deferred taxes and other
+€39,015
Result 2025
-€48,090
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.
From operations
+€39,937
Investment
-€195,558
Financing
+€147,404
Cash 2024
€32,040
From operations (derived)
+€39,937
Net result for the year
-€48,090
Depreciation
+€78,816
Deferred charges and accrued income
-€1,377
Provisions
-€1,299
Trade debts
+€2,262
Tax, wage and social debts
-€8
Other debts
+€1,052
Accrued charges and deferred income
+€8,581
Investment (derived)
-€195,558
Investment in fixed assets (net)
-€195,558
Financing
+€147,404
Debts after one year
+€139,125
Current portion of long-term debt
+€8,278
Cash 2025
€23,822
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,212,596 | €1,322,499 | +€109,902 | +9.1% |
| Fixed assets | 21/28 | €1,178,198 | €1,294,941 | +€116,743 | +9.9% |
| Tangible fixed assets | 22/27 | €1,178,198 | €1,294,941 | +€116,743 | +9.9% |
| Land and buildings | 22 | €1,142,287 | €1,272,559 | +€130,273 | +11.4% |
| Furniture and vehicles | 24 | €35,911 | €22,381 | -€13,530 | -37.7% |
| Current assets | 29/58 | €34,398 | €27,558 | -€6,840 | -19.9% |
| Cash at bank and in hand | 54/58 | €32,040 | €23,822 | -€8,217 | -25.6% |
| Deferred charges and accrued income | 490/1 | €2,359 | €3,736 | +€1,377 | +58.4% |
| Total equity and liabilities | 10/49 | €1,212,596 | €1,322,499 | +€109,902 | +9.1% |
| Equity | 10/15 | €442,028 | €393,938 | -€48,090 | -10.9% |
| Contributions | 10/11 | €318,750 | €318,750 | = | 0.0% |
| Capital | 10 | €318,750 | €318,750 | = | 0.0% |
| Issued capital | 100 | €318,750 | €318,750 | = | 0.0% |
| Reserves | 13 | €174,731 | €169,534 | -€5,197 | -3.0% |
| Non-distributable reserves | 130/1 | €4,955 | €4,955 | = | 0.0% |
| Legal reserve | 130 | €4,955 | €4,955 | = | 0.0% |
| Tax-exempt reserves | 132 | €150,864 | €145,667 | -€5,197 | -3.4% |
| Distributable reserves | 133 | €18,912 | €18,912 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€51,453 | -€94,346 | -€42,893 | -83.4% |
| Provisions and deferred taxes | 16 | €37,716 | €36,417 | -€1,299 | -3.4% |
| Deferred taxes | 168 | €37,716 | €36,417 | -€1,299 | -3.4% |
| Amounts payable | 17/49 | €732,852 | €892,144 | +€159,291 | +21.7% |
| Amounts payable after more than one year | 17 | €686,524 | €825,649 | +€139,125 | +20.3% |
| Financial debts | 170/4 | €686,524 | €825,649 | +€139,125 | +20.3% |
| Amounts payable within one year | 42/48 | €43,358 | €54,943 | +€11,585 | +26.7% |
| Current portion of amounts payable after more than one year | 42 | €37,596 | €45,875 | +€8,278 | +22.0% |
| Trade debts | 44 | €1,381 | €3,644 | +€2,262 | +163.8% |
| Suppliers | 440/4 | €1,381 | €3,644 | +€2,262 | +163.8% |
| Taxes, remuneration and social security | 45 | €516 | €508 | -€8 | -1.6% |
| Taxes | 450/3 | €516 | €508 | -€8 | -1.6% |
| Other amounts payable | 47/48 | €3,864 | €4,916 | +€1,052 | +27.2% |
| Accrued charges and deferred income | 492/3 | €2,970 | €11,551 | +€8,581 | +288.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,800 | €78,816 | +€12,016 | +18.0% |
| Other operating charges | 640/8 | €15,599 | €14,959 | -€640 | -4.1% |
| Gross operating margin | 9900 | €265,859 | €75,853 | -€190,006 | -71.5% |
| Operating profit (loss) | 9901 | €183,460 | -€17,922 | -€201,382 | |
| Financial charges | 65/66B | €22,664 | €30,959 | +€8,295 | +36.6% |
| Recurring financial charges | 65 | €22,664 | €30,959 | +€8,295 | +36.6% |
| Profit (loss) for the period before taxes | 9903 | €160,796 | -€48,881 | -€209,677 | |
| Transfer from deferred taxes | 780 | €1,299 | €1,299 | = | 0.0% |
| Transfer to deferred taxes | 680 | €39,015 | - | -€39,015 | |
| Income taxes | 67/77 | €516 | €508 | -€8 | -1.6% |
| Profit (loss) for the period | 9904 | €122,564 | -€48,090 | -€170,654 | |
| Transfer from tax-exempt reserves | 789 | €5,197 | €5,197 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €156,060 | - | -€156,060 | |
| Profit (loss) for the period to be appropriated | 9905 | -€28,300 | -€42,893 | -€14,593 | -51.6% |
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 28 September 2026 via checked.be.