LOET: 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.
LOET
Largest movements
- Cash +€399,444
up €399,444 (+73.3%), from €545,086 to €944,530
mainly Current investments (+€215,087) and Net result for the year (+€135,153)
- Current investments -€215,087
down €215,087 (-3.6%), from €6.0m to €5.8m
- Reserves +€135,153
up €135,153 (+2.9%), from €4.6m to €4.8m
of which Distributable reserves: +€135,153
- Financial income -€33,048
down €33,048 (-18.4%), from €179,424 to €146,376
- Depreciation -€21,138
down €21,138 (-18.9%), from €111,939 to €90,801
- Other operating charges -€5,657
down €5,657 (-41.2%), from €13,739 to €8,082
- Gross operating margin +€5,012
up €5,012 (+3.4%), from €145,405 to €150,418
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 | €7,142,107 | €7,282,584 | +€140,477 | +2.0% |
| Fixed assets | 21/28 | €529,230 | €485,949 | -€43,281 | -8.2% |
| Tangible fixed assets | 22/27 | €431,440 | €388,159 | -€43,281 | -10.0% |
| Land and buildings | 22 | €284,918 | €264,918 | -€20,000 | -7.0% |
| Plant, machinery and equipment | 23 | €12,220 | €7,944 | -€4,276 | -35.0% |
| Furniture and vehicles | 24 | €134,302 | €115,298 | -€19,005 | -14.2% |
| Financial fixed assets | 28 | €97,790 | €97,790 | = | 0.0% |
| Current assets | 29/58 | €6,612,877 | €6,796,635 | +€183,758 | +2.8% |
| Amounts receivable within one year | 40/41 | €78,894 | €79,756 | +€861 | +1.1% |
| Trade receivables | 40 | €9,600 | €28,710 | +€19,111 | +199% |
| Other amounts receivable | 41 | €69,295 | €51,045 | -€18,249 | -26.3% |
| Current investments | 50/53 | €5,985,087 | €5,770,000 | -€215,087 | -3.6% |
| Cash at bank and in hand | 54/58 | €545,086 | €944,530 | +€399,444 | +73.3% |
| Deferred charges and accrued income | 490/1 | €3,809 | €2,349 | -€1,461 | -38.3% |
| Total equity and liabilities | 10/49 | €7,142,107 | €7,282,584 | +€140,477 | +2.0% |
| Equity | 10/15 | €6,699,758 | €6,834,911 | +€135,153 | +2.0% |
| Contributions | 10/11 | €2,080,000 | €2,080,000 | = | 0.0% |
| Reserves | 13 | €4,619,758 | €4,754,911 | +€135,153 | +2.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €4,609,758 | €4,744,911 | +€135,153 | +2.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €442,349 | €447,674 | +€5,324 | +1.2% |
| Amounts payable within one year | 42/48 | €442,349 | €447,674 | +€5,324 | +1.2% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | - | €136 | +€136 | |
| Taxes | 450/3 | - | €136 | +€136 | |
| Other amounts payable | 47/48 | €442,349 | €447,538 | +€5,189 | +1.2% |
| Non-recurring operating income | 76A | €4,000 | €0 | -€4,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €111,939 | €90,801 | -€21,138 | -18.9% |
| Other operating charges | 640/8 | €13,739 | €8,082 | -€5,657 | -41.2% |
| Non-recurring operating charges | 66A | €3,464 | €0 | -€3,464 | -100% |
| Gross operating margin | 9900 | €145,405 | €150,418 | +€5,012 | +3.4% |
| Operating profit (loss) | 9901 | €16,263 | €51,535 | +€35,272 | +217% |
| Financial income | 75/76B | €179,424 | €146,376 | -€33,048 | -18.4% |
| Recurring financial income | 75 | €179,424 | €146,376 | -€33,048 | -18.4% |
| Financial charges | 65/66B | €1,326 | €763 | -€563 | -42.5% |
| Recurring financial charges | 65 | €1,326 | €763 | -€563 | -42.5% |
| Profit (loss) for the period before taxes | 9903 | €194,361 | €197,148 | +€2,787 | +1.4% |
| Income taxes | 67/77 | €62,928 | €61,995 | -€933 | -1.5% |
| Profit (loss) for the period | 9904 | €131,433 | €135,153 | +€3,720 | +2.8% |
| Profit (loss) for the period to be appropriated | 9905 | €131,433 | €135,153 | +€3,720 | +2.8% |
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 1 November 2026 via checked.be.