LOGNARD: 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.
LOGNARD
Largest movements
- Tangible fixed assets -€89,371
down €89,371 (-5.0%), from €1.8m to €1.7m
of which Land and buildings: -€88,794
- Current portion of long-term debt -€154,175
down €154,175 (-51.9%), from €297,057 to €142,882
- Debts after one year -€142,882
down €142,882 (-59.0%), from €242,049 to €99,167
- Profit (loss) carried forward +€115,607
up €115,607 (+20.3%), from €568,343 to €683,950
- Other debts +€110,959
up €110,959 (+44.7%), from €248,227 to €359,186
- Depreciation -€15,013
down €15,013 (-5.3%), from €282,820 to €267,807
- Gross operating margin +€8,313
up €8,313 (+1.9%), from €446,896 to €455,209
- Financial charges -€7,673
down €7,673 (-45.7%), from €16,785 to €9,112
- Taxes +€7,431
up €7,431 (+29.5%), from €25,157 to €32,588
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 | €1,803,374 | €1,705,619 | -€97,755 | -5.4% |
| Fixed assets | 21/28 | €1,781,943 | €1,692,572 | -€89,371 | -5.0% |
| Tangible fixed assets | 22/27 | €1,781,943 | €1,692,572 | -€89,371 | -5.0% |
| Land and buildings | 22 | €1,780,319 | €1,691,526 | -€88,794 | -5.0% |
| Furniture and vehicles | 24 | €1,624 | €1,046 | -€578 | -35.6% |
| Current assets | 29/58 | €21,431 | €13,047 | -€8,384 | -39.1% |
| Amounts receivable within one year | 40/41 | €4,641 | €5,912 | +€1,271 | +27.4% |
| Other amounts receivable | 41 | €4,641 | €5,912 | +€1,271 | +27.4% |
| Cash at bank and in hand | 54/58 | €11,021 | €1,475 | -€9,546 | -86.6% |
| Deferred charges and accrued income | 490/1 | €5,769 | €5,660 | -€109 | -1.9% |
| Total equity and liabilities | 10/49 | €1,803,374 | €1,705,619 | -€97,755 | -5.4% |
| Equity | 10/15 | €979,343 | €1,094,950 | +€115,607 | +11.8% |
| Contributions | 10/11 | €360,000 | €360,000 | = | 0.0% |
| Capital | 10 | €360,000 | €360,000 | = | 0.0% |
| Issued capital | 100 | €360,000 | €360,000 | = | 0.0% |
| Reserves | 13 | €51,000 | €51,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €36,000 | €36,000 | = | 0.0% |
| Legal reserve | 130 | €36,000 | €36,000 | = | 0.0% |
| Distributable reserves | 133 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €568,343 | €683,950 | +€115,607 | +20.3% |
| Amounts payable | 17/49 | €824,031 | €610,669 | -€213,362 | -25.9% |
| Amounts payable after more than one year | 17 | €242,049 | €99,167 | -€142,882 | -59.0% |
| Financial debts | 170/4 | €242,049 | €99,167 | -€142,882 | -59.0% |
| Amounts payable within one year | 42/48 | €574,567 | €507,462 | -€67,105 | -11.7% |
| Current portion of amounts payable after more than one year | 42 | €297,057 | €142,882 | -€154,175 | -51.9% |
| Trade debts | 44 | €13,527 | €5,394 | -€8,134 | -60.1% |
| Suppliers | 440/4 | €13,527 | €5,394 | -€8,134 | -60.1% |
| Taxes, remuneration and social security | 45 | €15,756 | €0 | -€15,756 | -100.0% |
| Taxes | 450/3 | €15,756 | €0 | -€15,756 | -100.0% |
| Other amounts payable | 47/48 | €248,227 | €359,186 | +€110,959 | +44.7% |
| Accrued charges and deferred income | 492/3 | €7,416 | €4,041 | -€3,375 | -45.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €282,820 | €267,807 | -€15,013 | -5.3% |
| Other operating charges | 640/8 | €29,178 | €30,095 | +€916 | +3.1% |
| Gross operating margin | 9900 | €446,896 | €455,209 | +€8,313 | +1.9% |
| Operating profit (loss) | 9901 | €134,898 | €157,307 | +€22,409 | +16.6% |
| Financial charges | 65/66B | €16,785 | €9,112 | -€7,673 | -45.7% |
| Recurring financial charges | 65 | €16,785 | €9,112 | -€7,673 | -45.7% |
| Profit (loss) for the period before taxes | 9903 | €118,113 | €148,195 | +€30,082 | +25.5% |
| Income taxes | 67/77 | €25,157 | €32,588 | +€7,431 | +29.5% |
| Profit (loss) for the period | 9904 | €92,956 | €115,607 | +€22,651 | +24.4% |
| Profit (loss) for the period to be appropriated | 9905 | €92,956 | €115,607 | +€22,651 | +24.4% |
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 2 October 2026 via checked.be.