Log-ad: 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.
Log-ad
Largest movements
- Receivables after one year +€215,000
up €215,000 (+7.0%), from €3.1m to €3.3m
- Deferred charges and accrued income +€131,319
up €131,319 (+17.8%), from €736,489 to €867,808
- Tangible fixed assets -€60,541
down €60,541 (-5.4%), from €1.1m to €1.1m
of which Plant, machinery and equipment: -€54,688
- Cash +€58,384
up €58,384 (+30.6%), from €190,986 to €249,370
mainly Net result for the year (+€610,212) and Depreciation (+€293,179)
- Reserves +€610,212
up €610,212 (+13.7%), from €4.4m to €5.1m
- Other debts -€201,018
down €201,018 (-100.0%), from €201,018 to €0
- Gross operating margin +€24,866
up €24,866 (+2.6%), from €972,946 to €997,812
- Depreciation +€17,691
up €17,691 (+6.4%), from €275,488 to €293,179
- Financial income +€13,001
up €13,001 (+11.0%), from €117,786 to €130,786
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,280,039 | €5,651,683 | +€371,644 | +7.0% |
| Fixed assets | 21/28 | €1,120,024 | €1,059,483 | -€60,541 | -5.4% |
| Tangible fixed assets | 22/27 | €1,120,024 | €1,059,483 | -€60,541 | -5.4% |
| Land and buildings | 22 | €435,576 | €431,290 | -€4,287 | -1.0% |
| Plant, machinery and equipment | 23 | €352,474 | €297,786 | -€54,688 | -15.5% |
| Furniture and vehicles | 24 | €331,973 | €330,407 | -€1,566 | -0.5% |
| Current assets | 29/58 | €4,160,015 | €4,592,200 | +€432,185 | +10.4% |
| Amounts receivable after more than one year | 29 | €3,088,642 | €3,303,642 | +€215,000 | +7.0% |
| Other amounts receivable | 291 | €3,088,642 | €3,303,642 | +€215,000 | +7.0% |
| Amounts receivable within one year | 40/41 | €143,898 | €171,380 | +€27,483 | +19.1% |
| Other amounts receivable | 41 | €143,898 | €171,380 | +€27,483 | +19.1% |
| Cash at bank and in hand | 54/58 | €190,986 | €249,370 | +€58,384 | +30.6% |
| Deferred charges and accrued income | 490/1 | €736,489 | €867,808 | +€131,319 | +17.8% |
| Total equity and liabilities | 10/49 | €5,280,039 | €5,651,683 | +€371,644 | +7.0% |
| Equity | 10/15 | €5,021,600 | €5,631,811 | +€610,212 | +12.2% |
| Contributions | 10/11 | €266,228 | €266,228 | = | 0.0% |
| Reserves | 13 | €4,442,990 | €5,053,202 | +€610,212 | +13.7% |
| Distributable reserves | 133 | €4,442,990 | €5,053,202 | +€610,212 | +13.7% |
| Profit (loss) carried forward | 14 | €312,382 | €312,382 | = | 0.0% |
| Amounts payable | 17/49 | €258,439 | €19,872 | -€238,567 | -92.3% |
| Amounts payable within one year | 42/48 | €243,831 | €5,263 | -€238,567 | -97.8% |
| Trade debts | 44 | €2,703 | €1,815 | -€887 | -32.8% |
| Suppliers | 440/4 | €2,703 | €1,815 | -€887 | -32.8% |
| Taxes, remuneration and social security | 45 | €40,110 | €3,448 | -€36,662 | -91.4% |
| Taxes | 450/3 | €40,110 | €3,448 | -€36,662 | -91.4% |
| Other amounts payable | 47/48 | €201,018 | €0 | -€201,018 | -100.0% |
| Accrued charges and deferred income | 492/3 | €14,608 | €14,608 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €275,488 | €293,179 | +€17,691 | +6.4% |
| Other operating charges | 640/8 | €20,479 | €21,082 | +€603 | +2.9% |
| Gross operating margin | 9900 | €972,946 | €997,812 | +€24,866 | +2.6% |
| Operating profit (loss) | 9901 | €676,980 | €683,551 | +€6,571 | +1.0% |
| Financial income | 75/76B | €117,786 | €130,786 | +€13,001 | +11.0% |
| Recurring financial income | 75 | €117,786 | €130,786 | +€13,001 | +11.0% |
| Financial charges | 65/66B | €480 | €544 | +€64 | +13.3% |
| Recurring financial charges | 65 | €480 | €544 | +€64 | +13.3% |
| Profit (loss) for the period before taxes | 9903 | €794,286 | €813,794 | +€19,508 | +2.5% |
| Income taxes | 67/77 | €198,670 | €203,582 | +€4,913 | +2.5% |
| Profit (loss) for the period | 9904 | €595,616 | €610,212 | +€14,595 | +2.5% |
| Profit (loss) for the period to be appropriated | 9905 | €595,616 | €610,212 | +€14,595 | +2.5% |
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 4 October 2026 via checked.be.