LOGA: 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.
LOGA
Largest movements
- Tangible fixed assets +€62,399
up €62,399 (+6.6%), from €947,655 to €1.0m
of which Land and buildings: +€62,800
- Current investments -€30,000
down €30,000 (-12.0%), from €250,034 to €220,034
- Cash -€25,295
down €25,295 (-32.7%), from €77,430 to €52,135
mainly Investment in fixed assets (net) (-€108,935) and Contributions, distributions and other (-€49,109)
- Other debts +€50,166
up €50,166 (+111.9%), from €44,842 to €95,008
- Reserves -€23,123
down €23,123 (-2.7%), from €843,667 to €820,544
of which Tax-exempt reserves: -€23,123
- Debts after one year -€19,311
down €19,311 (-10.9%), from €177,452 to €158,141
of which Financial debts: -€20,121
- Gross operating margin +€12,579
up €12,579 (+15.7%), from €79,927 to €92,506
- Depreciation +€8,812
up €8,812 (+23.5%), from €37,574 to €46,386
- Financial charges +€5,891
up €5,891 (+494.1%), from €1,192 to €7,083
- Financial income -€3,807
down €3,807 (-36.8%), from €10,352 to €6,545
- Other operating charges -€3,500
down €3,500 (-24.7%), from €14,179 to €10,679
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 | €1,279,641 | €1,284,759 | +€5,118 | +0.4% |
| Fixed assets | 21/28 | €947,655 | €1,010,204 | +€62,549 | +6.6% |
| Tangible fixed assets | 22/27 | €947,655 | €1,010,054 | +€62,399 | +6.6% |
| Land and buildings | 22 | €947,021 | €1,009,821 | +€62,800 | +6.6% |
| Furniture and vehicles | 24 | €634 | €232 | -€402 | -63.3% |
| Financial fixed assets | 28 | - | €150 | +€150 | |
| Current assets | 29/58 | €331,986 | €274,555 | -€57,431 | -17.3% |
| Amounts receivable within one year | 40/41 | €3,338 | €405 | -€2,933 | -87.9% |
| Trade receivables | 40 | - | €293 | +€293 | |
| Other amounts receivable | 41 | €3,338 | €112 | -€3,226 | -96.7% |
| Current investments | 50/53 | €250,034 | €220,034 | -€30,000 | -12.0% |
| Cash at bank and in hand | 54/58 | €77,430 | €52,135 | -€25,295 | -32.7% |
| Deferred charges and accrued income | 490/1 | €1,184 | €1,982 | +€797 | +67.3% |
| Total equity and liabilities | 10/49 | €1,279,641 | €1,284,759 | +€5,118 | +0.4% |
| Equity | 10/15 | €862,217 | €839,094 | -€23,123 | -2.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €843,667 | €820,544 | -€23,123 | -2.7% |
| Tax-exempt reserves | 132 | €496,306 | €473,184 | -€23,123 | -4.7% |
| Distributable reserves | 133 | €347,360 | €347,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €165,436 | €157,728 | -€7,708 | -4.7% |
| Deferred taxes | 168 | €165,436 | €157,728 | -€7,708 | -4.7% |
| Amounts payable | 17/49 | €251,988 | €287,936 | +€35,948 | +14.3% |
| Amounts payable after more than one year | 17 | €177,452 | €158,141 | -€19,311 | -10.9% |
| Financial debts | 170/4 | €95,201 | €75,080 | -€20,121 | -21.1% |
| Other amounts payable | 178/9 | €82,251 | €83,061 | +€810 | +1.0% |
| Amounts payable within one year | 42/48 | €65,097 | €115,572 | +€50,476 | +77.5% |
| Current portion of amounts payable after more than one year | 42 | €19,970 | €20,121 | +€150 | +0.8% |
| Trade debts | 44 | €284 | €0 | -€284 | -100.0% |
| Suppliers | 440/4 | €284 | €0 | -€284 | -100.0% |
| Taxes, remuneration and social security | 45 | €0 | €444 | +€444 | |
| Taxes | 450/3 | €0 | €444 | +€444 | |
| Other amounts payable | 47/48 | €44,842 | €95,008 | +€50,166 | +111.9% |
| Accrued charges and deferred income | 492/3 | €9,440 | €14,223 | +€4,783 | +50.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,574 | €46,386 | +€8,812 | +23.5% |
| Other operating charges | 640/8 | €14,179 | €10,679 | -€3,500 | -24.7% |
| Gross operating margin | 9900 | €79,927 | €92,506 | +€12,579 | +15.7% |
| Operating profit (loss) | 9901 | €28,174 | €35,441 | +€7,267 | +25.8% |
| Financial income | 75/76B | €10,352 | €6,545 | -€3,807 | -36.8% |
| Recurring financial income | 75 | €10,352 | €6,545 | -€3,807 | -36.8% |
| Financial charges | 65/66B | €1,192 | €7,083 | +€5,891 | +494.1% |
| Recurring financial charges | 65 | €1,192 | €7,083 | +€5,891 | +494.1% |
| Profit (loss) for the period before taxes | 9903 | €37,334 | €34,904 | -€2,430 | -6.5% |
| Transfer from deferred taxes | 780 | €5,738 | €7,708 | +€1,969 | +34.3% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €15,471 | €16,625 | +€1,154 | +7.5% |
| Profit (loss) for the period | 9904 | €27,602 | €25,987 | -€1,615 | -5.9% |
| Transfer from tax-exempt reserves | 789 | €17,215 | €23,123 | +€5,907 | +34.3% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €44,817 | €49,109 | +€4,292 | +9.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.