LOEM: 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.
LOEM
Largest movements
- Receivables within one year -€54,875
down €54,875 (-29.0%), from €189,420 to €134,545
of which Trade receivables: -€58,499
- Cash +€26,211
up €26,211 (+148%), from €17,675 to €43,886
mainly Receivables within one year (+€54,875) and Net result for the year (+€45,888)
- Tangible fixed assets -€21,969
down €21,969 (-31.8%), from €69,011 to €47,042
of which Furniture and vehicles: -€16,137
- Profit (loss) carried forward -€54,112
down €54,112 (-31.0%), from €174,576 to €120,465
- Other debts +€22,555
up €22,555 (+35.9%), from €62,788 to €85,343
- Tax, wage and social debts -€12,338
down €12,338 (-38.8%), from €31,832 to €19,494
of which Taxes: -€12,795
- Current portion of long-term debt -€3,807
down €3,807 (-100%), from €3,807 to €0
- Gross operating margin -€35,429
down €35,429 (-29.1%), from €121,662 to €86,232
- Taxes -€8,089
down €8,089 (-40.5%), from €19,973 to €11,884
- Depreciation -€1,755
down €1,755 (-7.4%), from €23,724 to €21,969
- Financial charges -€1,382
down €1,382 (-24.9%), from €5,540 to €4,159
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 | €279,045 | €228,451 | -€50,595 | -18.1% |
| Fixed assets | 21/28 | €69,011 | €47,042 | -€21,969 | -31.8% |
| Tangible fixed assets | 22/27 | €69,011 | €47,042 | -€21,969 | -31.8% |
| Plant, machinery and equipment | 23 | €16,755 | €11,130 | -€5,625 | -33.6% |
| Furniture and vehicles | 24 | €51,491 | €35,354 | -€16,137 | -31.3% |
| Other tangible fixed assets | 26 | €765 | €558 | -€207 | -27.1% |
| Current assets | 29/58 | €210,034 | €181,409 | -€28,625 | -13.6% |
| Amounts receivable within one year | 40/41 | €189,420 | €134,545 | -€54,875 | -29.0% |
| Trade receivables | 40 | €189,269 | €130,770 | -€58,499 | -30.9% |
| Other amounts receivable | 41 | €151 | €3,775 | +€3,624 | +2,400% |
| Cash at bank and in hand | 54/58 | €17,675 | €43,886 | +€26,211 | +148% |
| Deferred charges and accrued income | 490/1 | €2,939 | €2,978 | +€39 | +1.3% |
| Total equity and liabilities | 10/49 | €279,045 | €228,451 | -€50,595 | -18.1% |
| Equity | 10/15 | €175,576 | €121,465 | -€54,112 | -30.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €174,576 | €120,465 | -€54,112 | -31.0% |
| Amounts payable | 17/49 | €103,469 | €106,986 | +€3,517 | +3.4% |
| Amounts payable within one year | 42/48 | €102,519 | €106,731 | +€4,212 | +4.1% |
| Current portion of amounts payable after more than one year | 42 | €3,807 | €0 | -€3,807 | -100% |
| Trade debts | 44 | €4,092 | €1,894 | -€2,198 | -53.7% |
| Suppliers | 440/4 | €4,092 | €1,894 | -€2,198 | -53.7% |
| Taxes, remuneration and social security | 45 | €31,832 | €19,494 | -€12,338 | -38.8% |
| Taxes | 450/3 | €29,196 | €16,401 | -€12,795 | -43.8% |
| Remuneration and social security | 454/9 | €2,636 | €3,092 | +€457 | +17.3% |
| Other amounts payable | 47/48 | €62,788 | €85,343 | +€22,555 | +35.9% |
| Accrued charges and deferred income | 492/3 | €950 | €255 | -€695 | -73.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,724 | €21,969 | -€1,755 | -7.4% |
| Other operating charges | 640/8 | €2,363 | €2,332 | -€31 | -1.3% |
| Gross operating margin | 9900 | €121,662 | €86,232 | -€35,429 | -29.1% |
| Operating profit (loss) | 9901 | €95,575 | €61,931 | -€33,644 | -35.2% |
| Financial charges | 65/66B | €5,540 | €4,159 | -€1,382 | -24.9% |
| Recurring financial charges | 65 | €5,540 | €4,159 | -€1,382 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | €90,035 | €57,772 | -€32,262 | -35.8% |
| Income taxes | 67/77 | €19,973 | €11,884 | -€8,089 | -40.5% |
| Profit (loss) for the period | 9904 | €70,062 | €45,888 | -€24,173 | -34.5% |
| Profit (loss) for the period to be appropriated | 9905 | €70,062 | €45,888 | -€24,173 | -34.5% |
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 19 October 2026 via checked.be.