LOGIPAL: 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.
LOGIPAL
Largest movements
- Receivables within one year -€60,884
down €60,884 (-58.1%), from €104,880 to €43,995
of which Trade receivables: -€61,195
- Cash +€26,126
up €26,126 (+86.7%), from €30,143 to €56,269
mainly Net result for the year (+€71,445) and Receivables within one year (+€60,884)
- Tangible fixed assets -€7,517
down €7,517 (-13.6%), from €55,152 to €47,635
of which Leasing and similar rights: -€22,268
- Debts after one year -€23,229
down €23,229 (-74.8%), from €31,053 to €7,825
- Tax, wage and social debts -€20,063
down €20,063 (-59.6%), from €33,676 to €13,613
of which Taxes: -€14,118
- Reserves +€18,945
up €18,945 (+15.7%), from €120,745 to €139,690
of which Distributable reserves: +€18,945
- Trade debts -€16,015
down €16,015 (-65.4%), from €24,480 to €8,465
- Gross operating margin -€71,840
down €71,840 (-26.7%), from €269,005 to €197,165
- Staff costs -€36,642
down €36,642 (-38.9%), from €94,116 to €57,474
- Depreciation +€11,969
up €11,969 (+53.7%), from €22,268 to €34,237
- Other operating charges -€10,905
down €10,905 (-57.0%), from €19,139 to €8,234
- Taxes -€9,985
down €9,985 (-30.2%), from €33,108 to €23,122
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 | €308,732 | €266,322 | -€42,411 | -13.7% |
| Fixed assets | 21/28 | €173,710 | €166,057 | -€7,652 | -4.4% |
| Tangible fixed assets | 22/27 | €55,152 | €47,635 | -€7,517 | -13.6% |
| Furniture and vehicles | 24 | - | €14,751 | +€14,751 | |
| Leasing and similar rights | 25 | €55,152 | €32,884 | -€22,268 | -40.4% |
| Financial fixed assets | 28 | €118,558 | €118,423 | -€135 | -0.1% |
| Current assets | 29/58 | €135,022 | €100,264 | -€34,758 | -25.7% |
| Amounts receivable within one year | 40/41 | €104,880 | €43,995 | -€60,884 | -58.1% |
| Trade receivables | 40 | €98,107 | €36,912 | -€61,195 | -62.4% |
| Other amounts receivable | 41 | €6,773 | €7,083 | +€311 | +4.6% |
| Cash at bank and in hand | 54/58 | €30,143 | €56,269 | +€26,126 | +86.7% |
| Total equity and liabilities | 10/49 | €308,732 | €266,322 | -€42,411 | -13.7% |
| Equity | 10/15 | €141,745 | €160,690 | +€18,945 | +13.4% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Reserves | 13 | €120,745 | €139,690 | +€18,945 | +15.7% |
| Tax-exempt reserves | 132 | €4,131 | €4,131 | = | 0.0% |
| Distributable reserves | 133 | €116,615 | €135,559 | +€18,945 | +16.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €166,987 | €105,632 | -€61,355 | -36.7% |
| Amounts payable after more than one year | 17 | €31,053 | €7,825 | -€23,229 | -74.8% |
| Financial debts | 170/4 | €31,053 | €7,825 | -€23,229 | -74.8% |
| Amounts payable within one year | 42/48 | €133,521 | €97,807 | -€35,714 | -26.7% |
| Current portion of amounts payable after more than one year | 42 | €22,865 | €23,229 | +€364 | +1.6% |
| Trade debts | 44 | €24,480 | €8,465 | -€16,015 | -65.4% |
| Suppliers | 440/4 | €24,480 | €8,465 | -€16,015 | -65.4% |
| Taxes, remuneration and social security | 45 | €33,676 | €13,613 | -€20,063 | -59.6% |
| Taxes | 450/3 | €21,021 | €6,903 | -€14,118 | -67.2% |
| Remuneration and social security | 454/9 | €12,655 | €6,710 | -€5,946 | -47.0% |
| Other amounts payable | 47/48 | €52,500 | €52,500 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,412 | €0 | -€2,412 | -100.0% |
| Non-recurring operating income | 76A | €0 | €19,500 | +€19,500 | |
| Remuneration, social security and pensions | 62 | €94,116 | €57,474 | -€36,642 | -38.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,268 | €34,237 | +€11,969 | +53.7% |
| Other operating charges | 640/8 | €19,139 | €8,234 | -€10,905 | -57.0% |
| Non-recurring operating charges | 66A | - | €1,500 | +€1,500 | |
| Gross operating margin | 9900 | €269,005 | €197,165 | -€71,840 | -26.7% |
| Operating profit (loss) | 9901 | €133,481 | €95,719 | -€37,762 | -28.3% |
| Financial income | 75/76B | - | €135 | +€135 | |
| Recurring financial income | 75 | - | €135 | +€135 | |
| Financial charges | 65/66B | €2,100 | €1,287 | -€813 | -38.7% |
| Recurring financial charges | 65 | €2,100 | €1,287 | -€813 | -38.7% |
| Profit (loss) for the period before taxes | 9903 | €131,381 | €94,567 | -€36,814 | -28.0% |
| Income taxes | 67/77 | €33,108 | €23,122 | -€9,985 | -30.2% |
| Profit (loss) for the period | 9904 | €98,273 | €71,445 | -€26,828 | -27.3% |
| Profit (loss) for the period to be appropriated | 9905 | €98,273 | €71,445 | -€26,828 | -27.3% |
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 3 October 2026 via checked.be.