LOFD: 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.
LOFD
Largest movements
- Cash +€214,380
up €214,380 (+707%), from €30,302 to €244,682
mainly Net result for the year (+€403,724) and Depreciation (+€49,333)
- Current investments +€200,000
new in 2025: €200,000
- Receivables within one year +€32,342
up €32,342 (+5.4%), from €596,033 to €628,375
of which Other amounts receivable: +€44,292
- Reserves +€402,891
up €402,891 (+23.2%), from €1.7m to €2.1m
of which Distributable reserves: +€402,891
- Tax, wage and social debts +€38,104
up €38,104 (+98.9%), from €38,515 to €76,618
- Gross operating margin +€112,428
up €112,428 (+21.3%), from €528,226 to €640,654
- Taxes +€39,745
up €39,745 (+26.7%), from €148,767 to €188,512
- Depreciation -€8,606
down €8,606 (-14.9%), from €57,939 to €49,333
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 | €1,933,475 | €2,387,047 | +€453,573 | +23.5% |
| Fixed assets | 21/28 | €1,306,197 | €1,312,994 | +€6,798 | +0.5% |
| Tangible fixed assets | 22/27 | €613,172 | €619,970 | +€6,798 | +1.1% |
| Land and buildings | 22 | €611,333 | €618,606 | +€7,273 | +1.2% |
| Plant, machinery and equipment | 23 | €1,840 | €1,364 | -€476 | -25.9% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €693,024 | €693,024 | = | 0.0% |
| Current assets | 29/58 | €627,278 | €1,074,053 | +€446,775 | +71.2% |
| Amounts receivable within one year | 40/41 | €596,033 | €628,375 | +€32,342 | +5.4% |
| Trade receivables | 40 | €30,371 | €18,420 | -€11,951 | -39.3% |
| Other amounts receivable | 41 | €565,662 | €609,955 | +€44,292 | +7.8% |
| Current investments | 50/53 | - | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €30,302 | €244,682 | +€214,380 | +707% |
| Deferred charges and accrued income | 490/1 | €943 | €995 | +€53 | +5.6% |
| Total equity and liabilities | 10/49 | €1,933,475 | €2,387,047 | +€453,573 | +23.5% |
| Equity | 10/15 | €1,881,703 | €2,284,595 | +€402,891 | +21.4% |
| Contributions | 10/11 | €143,500 | €143,500 | = | 0.0% |
| Reserves | 13 | €1,738,203 | €2,141,095 | +€402,891 | +23.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,738,203 | €2,141,095 | +€402,891 | +23.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €51,771 | €102,452 | +€50,681 | +97.9% |
| Amounts payable within one year | 42/48 | €51,470 | €101,282 | +€49,812 | +96.8% |
| Trade debts | 44 | €2,285 | €1,429 | -€856 | -37.5% |
| Suppliers | 440/4 | €2,285 | €1,429 | -€856 | -37.5% |
| Taxes, remuneration and social security | 45 | €38,515 | €76,618 | +€38,104 | +98.9% |
| Taxes | 450/3 | €38,515 | €76,618 | +€38,104 | +98.9% |
| Other amounts payable | 47/48 | €10,670 | €23,235 | +€12,565 | +118% |
| Accrued charges and deferred income | 492/3 | €301 | €1,170 | +€869 | +289% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,939 | €49,333 | -€8,606 | -14.9% |
| Other operating charges | 640/8 | €2,628 | €1,844 | -€784 | -29.8% |
| Gross operating margin | 9900 | €528,226 | €640,654 | +€112,428 | +21.3% |
| Operating profit (loss) | 9901 | €467,658 | €589,476 | +€121,818 | +26.0% |
| Financial income | 75/76B | €0 | €3,970 | +€3,970 | +13,234,500% |
| Recurring financial income | 75 | €0 | €3,970 | +€3,970 | +13,234,500% |
| Financial charges | 65/66B | €313 | €1,211 | +€898 | +287% |
| Recurring financial charges | 65 | €313 | €1,211 | +€898 | +287% |
| Profit (loss) for the period before taxes | 9903 | €467,345 | €592,236 | +€124,891 | +26.7% |
| Income taxes | 67/77 | €148,767 | €188,512 | +€39,745 | +26.7% |
| Profit (loss) for the period | 9904 | €318,578 | €403,724 | +€85,146 | +26.7% |
| Profit (loss) for the period to be appropriated | 9905 | €318,578 | €403,724 | +€85,146 | +26.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.