LOGAR: 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.
LOGAR
Largest movements
- Receivables after one year +€102,866
up €102,866 (+17.1%), from €600,766 to €703,633
- Reserves +€79,735
up €79,735 (+14.0%), from €568,248 to €647,983
- Tax, wage and social debts +€13,589
up €13,589 (+15.5%), from €87,713 to €101,302
- Trade debts +€8,638
up €8,638 (+129.1%), from €6,689 to €15,327
- Gross operating margin +€17,718
up €17,718 (+16.0%), from €110,525 to €128,242
- Taxes +€9,577
up €9,577 (+24.4%), from €39,275 to €48,852
- Financial charges -€6,206
down €6,206 (-47.2%), from €13,135 to €6,929
- Other operating charges -€2,568
down €2,568 (-21.4%), from €12,021 to €9,454
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 | €682,327 | €784,471 | +€102,144 | +15.0% |
| Fixed assets | 21/28 | €19 | €0 | -€19 | -100.0% |
| Tangible fixed assets | 22/27 | €19 | €0 | -€19 | -100.0% |
| Furniture and vehicles | 24 | €19 | €0 | -€19 | -100.0% |
| Current assets | 29/58 | €682,309 | €784,471 | +€102,163 | +15.0% |
| Amounts receivable after more than one year | 29 | €600,766 | €703,633 | +€102,866 | +17.1% |
| Other amounts receivable | 291 | €600,766 | €703,633 | +€102,866 | +17.1% |
| Amounts receivable within one year | 40/41 | €78,903 | €80,725 | +€1,822 | +2.3% |
| Trade receivables | 40 | €8,534 | €10,355 | +€1,822 | +21.4% |
| Other amounts receivable | 41 | €70,370 | €70,370 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,639 | €113 | -€2,526 | -95.7% |
| Total equity and liabilities | 10/49 | €682,327 | €784,471 | +€102,144 | +15.0% |
| Equity | 10/15 | €586,848 | €666,583 | +€79,735 | +13.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €568,248 | €647,983 | +€79,735 | +14.0% |
| Distributable reserves | 133 | €568,248 | €647,983 | +€79,735 | +14.0% |
| Amounts payable | 17/49 | €95,480 | €117,889 | +€22,409 | +23.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €95,480 | €117,883 | +€22,403 | +23.5% |
| Current portion of amounts payable after more than one year | 42 | €1,078 | €1,254 | +€177 | +16.4% |
| Trade debts | 44 | €6,689 | €15,327 | +€8,638 | +129.1% |
| Suppliers | 440/4 | €6,689 | €15,327 | +€8,638 | +129.1% |
| Taxes, remuneration and social security | 45 | €87,713 | €101,302 | +€13,589 | +15.5% |
| Taxes | 450/3 | €87,713 | €101,302 | +€13,589 | +15.5% |
| Accrued charges and deferred income | 492/3 | - | €6 | +€6 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €160 | €19 | -€141 | -88.3% |
| Other operating charges | 640/8 | €12,021 | €9,454 | -€2,568 | -21.4% |
| Gross operating margin | 9900 | €110,525 | €128,242 | +€17,718 | +16.0% |
| Operating profit (loss) | 9901 | €98,344 | €118,770 | +€20,426 | +20.8% |
| Financial income | 75/76B | €16,817 | €16,747 | -€70 | -0.4% |
| Recurring financial income | 75 | €16,817 | €16,747 | -€70 | -0.4% |
| Financial charges | 65/66B | €13,135 | €6,929 | -€6,206 | -47.2% |
| Recurring financial charges | 65 | €13,135 | €6,929 | -€6,206 | -47.2% |
| Profit (loss) for the period before taxes | 9903 | €102,026 | €128,587 | +€26,562 | +26.0% |
| Income taxes | 67/77 | €39,275 | €48,852 | +€9,577 | +24.4% |
| Profit (loss) for the period | 9904 | €62,751 | €79,735 | +€16,984 | +27.1% |
| Profit (loss) for the period to be appropriated | 9905 | €62,751 | €79,735 | +€16,984 | +27.1% |
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 8 October 2026 via checked.be.