LOGIBEL: 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.
LOGIBEL
Largest movements
- Cash -€69,633
down €69,633 (-41.7%), from €166,911 to €97,277
mainly Investment in fixed assets (net) (-€106,421) and Net result for the year (-€99,135)
- Receivables within one year +€46,107
up €46,107 (+86.4%), from €53,355 to €99,462
of which Trade receivables: +€40,161
- Tangible fixed assets +€16,402
up €16,402 (+4.5%), from €365,730 to €382,131
of which Plant, machinery and equipment: +€37,544
- Profit (loss) carried forward -€99,135
down €99,135 (-42.4%), from -€233,867 to -€333,002
- Other debts +€68,365
up €68,365 (+81.3%), from €84,128 to €152,493
- Trade debts +€36,033
up €36,033 (+137.7%), from €26,163 to €62,196
- Debts after one year -€11,689
down €11,689 (-3.3%), from €350,333 to €338,644
- Depreciation +€20,393
up €20,393 (+28.8%), from €70,930 to €91,323
- Gross operating margin +€11,058
up €11,058 (+76.9%), from €14,388 to €25,446
- Other operating charges +€3,126
up €3,126 (+15.3%), from €20,387 to €23,513
- Financial charges -€313
down €313 (-3.1%), from €10,061 to €9,748
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 | €587,299 | €578,871 | -€8,428 | -1.4% |
| Fixed assets | 21/28 | €367,034 | €382,131 | +€15,098 | +4.1% |
| Tangible fixed assets | 22/27 | €365,730 | €382,131 | +€16,402 | +4.5% |
| Land and buildings | 22 | €231,775 | €213,863 | -€17,912 | -7.7% |
| Plant, machinery and equipment | 23 | €127,574 | €165,118 | +€37,544 | +29.4% |
| Furniture and vehicles | 24 | €6,380 | €3,150 | -€3,230 | -50.6% |
| Financial fixed assets | 28 | €1,304 | - | -€1,304 | |
| Current assets | 29/58 | €220,266 | €196,740 | -€23,526 | -10.7% |
| Amounts receivable within one year | 40/41 | €53,355 | €99,462 | +€46,107 | +86.4% |
| Trade receivables | 40 | €43,727 | €83,889 | +€40,161 | +91.8% |
| Other amounts receivable | 41 | €9,628 | €15,574 | +€5,946 | +61.8% |
| Cash at bank and in hand | 54/58 | €166,911 | €97,277 | -€69,633 | -41.7% |
| Total equity and liabilities | 10/49 | €587,299 | €578,871 | -€8,428 | -1.4% |
| Equity | 10/15 | €112,833 | €13,698 | -€99,135 | -87.9% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €196,700 | €196,700 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €91,700 | €91,700 | = | 0.0% |
| Distributable reserves | 133 | €90,000 | €90,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€233,867 | -€333,002 | -€99,135 | -42.4% |
| Amounts payable | 17/49 | €474,466 | €565,173 | +€90,707 | +19.1% |
| Amounts payable after more than one year | 17 | €350,333 | €338,644 | -€11,689 | -3.3% |
| Financial debts | 170/4 | €350,333 | €338,644 | -€11,689 | -3.3% |
| Amounts payable within one year | 42/48 | €122,173 | €226,379 | +€104,206 | +85.3% |
| Current portion of amounts payable after more than one year | 42 | €11,345 | €11,689 | +€344 | +3.0% |
| Trade debts | 44 | €26,163 | €62,196 | +€36,033 | +137.7% |
| Suppliers | 440/4 | €26,163 | €62,196 | +€36,033 | +137.7% |
| Taxes, remuneration and social security | 45 | €537 | - | -€537 | |
| Taxes | 450/3 | €537 | - | -€537 | |
| Other amounts payable | 47/48 | €84,128 | €152,493 | +€68,365 | +81.3% |
| Accrued charges and deferred income | 492/3 | €1,960 | €150 | -€1,810 | -92.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,930 | €91,323 | +€20,393 | +28.8% |
| Other operating charges | 640/8 | €20,387 | €23,513 | +€3,126 | +15.3% |
| Gross operating margin | 9900 | €14,388 | €25,446 | +€11,058 | +76.9% |
| Operating profit (loss) | 9901 | -€76,928 | -€89,390 | -€12,462 | -16.2% |
| Financial income | 75/76B | €30 | €3 | -€27 | -89.9% |
| Recurring financial income | 75 | €30 | €3 | -€27 | -89.9% |
| Financial charges | 65/66B | €10,061 | €9,748 | -€313 | -3.1% |
| Recurring financial charges | 65 | €10,061 | €9,748 | -€313 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | -€86,960 | -€99,135 | -€12,175 | -14.0% |
| Income taxes | 67/77 | €132 | - | -€132 | |
| Profit (loss) for the period | 9904 | -€87,091 | -€99,135 | -€12,044 | -13.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€87,091 | -€99,135 | -€12,044 | -13.8% |
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 5 October 2026 via checked.be.