LOFRA PROJECTS: 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.
LOFRA PROJECTS
Largest movements
- Receivables within one year -€321,485
down €321,485 (-41.6%), from €772,656 to €451,171
of which Trade receivables: -€327,500
- Stocks and contracts -€187,479
down €187,479 (-49.1%), from €381,633 to €194,154
of which Stocks: -€185,399
- Cash +€47,732
up €47,732 (+269%), from €17,720 to €65,452
mainly Receivables within one year (+€321,485) and Stocks and contracts (+€187,479)
- Tangible fixed assets +€22,141
up €22,141 (+3,151%), from €703 to €22,843
of which Leasing and similar rights: +€22,706
- Profit (loss) carried forward -€475,342
down €475,342, from €68,744 to -€406,599
- Short-term financial debts -€58,890
down €58,890 (-25.2%), from €233,956 to €175,066
of which Credit institutions: -€58,890
- Trade debts +€55,443
up €55,443 (+12.4%), from €448,348 to €503,791
- Current portion of long-term debt +€13,487
up €13,487 (+29.2%), from €46,179 to €59,666
- Other debts +€13,241
up €13,241 (+7.0%), from €190,164 to €203,405
- Gross operating margin -€367,653
down €367,653, from €93,380 to -€274,273
- Other operating charges +€149,710
up €149,710 (+9,153%), from €1,636 to €151,346
- Financial charges -€6,789
down €6,789 (-14.3%), from €47,591 to €40,801
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 | €1,186,937 | €742,075 | -€444,862 | -37.5% |
| Fixed assets | 21/28 | €14,849 | €31,218 | +€16,369 | +110% |
| Intangible fixed assets | 21 | €14,146 | €7,175 | -€6,971 | -49.3% |
| Tangible fixed assets | 22/27 | €703 | €22,843 | +€22,141 | +3,151% |
| Furniture and vehicles | 24 | €703 | €137 | -€565 | -80.5% |
| Leasing and similar rights | 25 | - | €22,706 | +€22,706 | |
| Financial fixed assets | 28 | - | €1,200 | +€1,200 | |
| Current assets | 29/58 | €1,172,088 | €710,856 | -€461,232 | -39.4% |
| Stocks and contracts in progress | 3 | €381,633 | €194,154 | -€187,479 | -49.1% |
| Stocks | 30/36 | €275,631 | €90,232 | -€185,399 | -67.3% |
| Contracts in progress | 37 | €106,002 | €103,922 | -€2,081 | -2.0% |
| Amounts receivable within one year | 40/41 | €772,656 | €451,171 | -€321,485 | -41.6% |
| Trade receivables | 40 | €654,714 | €327,214 | -€327,500 | -50.0% |
| Other amounts receivable | 41 | €117,942 | €123,957 | +€6,015 | +5.1% |
| Cash at bank and in hand | 54/58 | €17,720 | €65,452 | +€47,732 | +269% |
| Deferred charges and accrued income | 490/1 | €79 | €79 | +€1 | +1.1% |
| Total equity and liabilities | 10/49 | €1,186,937 | €742,075 | -€444,862 | -37.5% |
| Equity | 10/15 | €222,188 | -€253,155 | -€475,342 | |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €103,444 | €103,444 | = | 0.0% |
| Distributable reserves | 133 | €103,444 | €103,444 | = | 0.0% |
| Profit (loss) carried forward | 14 | €68,744 | -€406,599 | -€475,342 | |
| Amounts payable | 17/49 | €964,749 | €995,229 | +€30,480 | +3.2% |
| Amounts payable after more than one year | 17 | €46,077 | €47,252 | +€1,175 | +2.6% |
| Financial debts | 170/4 | €46,077 | €47,252 | +€1,175 | +2.6% |
| Amounts payable within one year | 42/48 | €918,672 | €941,928 | +€23,256 | +2.5% |
| Current portion of amounts payable after more than one year | 42 | €46,179 | €59,666 | +€13,487 | +29.2% |
| Financial debts | 43 | €233,956 | €175,066 | -€58,890 | -25.2% |
| Credit institutions | 430/8 | €233,956 | €175,066 | -€58,890 | -25.2% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €448,348 | €503,791 | +€55,443 | +12.4% |
| Suppliers | 440/4 | €448,348 | €503,791 | +€55,443 | +12.4% |
| Taxes, remuneration and social security | 45 | €25 | €0 | -€25 | -100% |
| Taxes | 450/3 | €25 | €0 | -€25 | -100% |
| Other amounts payable | 47/48 | €190,164 | €203,405 | +€13,241 | +7.0% |
| Accrued charges and deferred income | 492/3 | - | €6,050 | +€6,050 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,543 | €8,922 | +€2,379 | +36.4% |
| Other operating charges | 640/8 | €1,636 | €151,346 | +€149,710 | +9,153% |
| Gross operating margin | 9900 | €93,380 | -€274,273 | -€367,653 | |
| Operating profit (loss) | 9901 | €85,202 | -€434,541 | -€519,743 | |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €47,591 | €40,801 | -€6,789 | -14.3% |
| Recurring financial charges | 65 | €47,591 | €40,801 | -€6,789 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €37,611 | -€475,342 | -€512,954 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €37,611 | -€475,342 | -€512,954 | |
| Profit (loss) for the period to be appropriated | 9905 | €37,611 | -€475,342 | -€512,954 |
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 18 October 2026 via checked.be.