LOGMA: 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.
LOGMA
Largest movements
- Receivables within one year +€124,884
up €124,884 (+132.4%), from €94,295 to €219,179
of which Trade receivables: +€90,963
- Cash +€94,272
up €94,272 (+21.8%), from €432,470 to €526,743
mainly Net result for the year (+€239,657) and Other debts (+€156,838)
- Tangible fixed assets -€60,399
down €60,399 (-26.7%), from €226,375 to €165,975
- Intangible fixed assets +€24,408
up €24,408 (+45.1%), from €54,123 to €78,531
- Other debts +€156,838
up €156,838 (+62.7%), from €250,000 to €406,838
- Trade debts +€38,183
up €38,183 (+30.6%), from €124,790 to €162,973
- Current portion of long-term debt +€31,049
up €31,049 (+65.9%), from €47,147 to €78,197
- Debts after one year -€28,594
down €28,594 (-24.5%), from €116,514 to €87,920
- Profit (loss) carried forward +€21,657
up €21,657 (+20.2%), from €107,216 to €128,873
- Gross operating margin +€28,831
up €28,831 (+4.0%), from €714,982 to €743,812
- Staff costs +€21,581
up €21,581 (+6.7%), from €323,239 to €344,820
- Other operating charges +€8,131
up €8,131 (+2000.2%), from €407 to €8,537
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 | €812,652 | €1,005,506 | +€192,855 | +23.7% |
| Fixed assets | 21/28 | €280,498 | €244,731 | -€35,766 | -12.8% |
| Intangible fixed assets | 21 | €54,123 | €78,531 | +€24,408 | +45.1% |
| Tangible fixed assets | 22/27 | €226,375 | €165,975 | -€60,399 | -26.7% |
| Plant, machinery and equipment | 23 | €29,947 | €17,405 | -€12,542 | -41.9% |
| Furniture and vehicles | 24 | €54,297 | €25,157 | -€29,140 | -53.7% |
| Other tangible fixed assets | 26 | €142,131 | €123,414 | -€18,717 | -13.2% |
| Financial fixed assets | 28 | - | €225 | +€225 | |
| Current assets | 29/58 | €532,154 | €760,775 | +€228,621 | +43.0% |
| Stocks and contracts in progress | 3 | €5,389 | €12,201 | +€6,811 | +126.4% |
| Stocks | 30/36 | €5,389 | €12,201 | +€6,811 | +126.4% |
| Amounts receivable within one year | 40/41 | €94,295 | €219,179 | +€124,884 | +132.4% |
| Trade receivables | 40 | €36,543 | €127,506 | +€90,963 | +248.9% |
| Other amounts receivable | 41 | €57,751 | €91,673 | +€33,921 | +58.7% |
| Cash at bank and in hand | 54/58 | €432,470 | €526,743 | +€94,272 | +21.8% |
| Deferred charges and accrued income | 490/1 | - | €2,654 | +€2,654 | |
| Total equity and liabilities | 10/49 | €812,652 | €1,005,506 | +€192,855 | +23.7% |
| Equity | 10/15 | €191,904 | €208,914 | +€17,010 | +8.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €60,000 | €60,000 | = | 0.0% |
| Distributable reserves | 133 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €107,216 | €128,873 | +€21,657 | +20.2% |
| Investment grants | 15 | €21,688 | €17,041 | -€4,647 | -21.4% |
| Amounts payable | 17/49 | €620,748 | €796,593 | +€175,845 | +28.3% |
| Amounts payable after more than one year | 17 | €116,514 | €87,920 | -€28,594 | -24.5% |
| Financial debts | 170/4 | €116,514 | €87,920 | -€28,594 | -24.5% |
| Amounts payable within one year | 42/48 | €504,234 | €708,672 | +€204,439 | +40.5% |
| Current portion of amounts payable after more than one year | 42 | €47,147 | €78,197 | +€31,049 | +65.9% |
| Trade debts | 44 | €124,790 | €162,973 | +€38,183 | +30.6% |
| Suppliers | 440/4 | €124,790 | €162,973 | +€38,183 | +30.6% |
| Taxes, remuneration and social security | 45 | €82,296 | €60,665 | -€21,631 | -26.3% |
| Taxes | 450/3 | €48,489 | €17,619 | -€30,871 | -63.7% |
| Remuneration and social security | 454/9 | €33,807 | €43,047 | +€9,239 | +27.3% |
| Other amounts payable | 47/48 | €250,000 | €406,838 | +€156,838 | +62.7% |
| Remuneration, social security and pensions | 62 | €323,239 | €344,820 | +€21,581 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,279 | €77,214 | +€3,934 | +5.4% |
| Other operating charges | 640/8 | €407 | €8,537 | +€8,131 | +2000.2% |
| Gross operating margin | 9900 | €714,982 | €743,812 | +€28,831 | +4.0% |
| Operating profit (loss) | 9901 | €318,057 | €313,241 | -€4,816 | -1.5% |
| Financial income | 75/76B | €4,648 | €4,657 | +€9 | +0.2% |
| Recurring financial income | 75 | €4,648 | €4,657 | +€9 | +0.2% |
| Financial charges | 65/66B | €6,522 | €9,401 | +€2,878 | +44.1% |
| Recurring financial charges | 65 | €6,522 | €9,401 | +€2,878 | +44.1% |
| Profit (loss) for the period before taxes | 9903 | €316,183 | €308,498 | -€7,685 | -2.4% |
| Income taxes | 67/77 | €63,997 | €68,841 | +€4,844 | +7.6% |
| Profit (loss) for the period | 9904 | €252,186 | €239,657 | -€12,529 | -5.0% |
| Profit (loss) for the period to be appropriated | 9905 | €252,186 | €239,657 | -€12,529 | -5.0% |
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 6 October 2026 via checked.be.