LOGOS MANAGEMENT: what changed
Two financial 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.
LOGOS MANAGEMENT
Largest movements
- Cash +€170,537
up €170,537 (+192%), from €88,850 to €259,387
mainly Current investments (+€150,000) and Other debts (+€110,740)
- Current investments -€150,000
down €150,000 (-100%), from €150,000 to €0
- Tangible fixed assets -€64,594
down €64,594 (-4.6%), from €1.4m to €1.3m
of which Land and buildings: -€38,782
- Reserves -€117,701
down €117,701 (-17.6%), from €670,606 to €552,905
of which Distributable reserves: -€114,186
- Other debts +€110,740
up €110,740 (+25.9%), from €427,691 to €538,431
- Debts after one year -€24,270
down €24,270 (-2.9%), from €843,899 to €819,630
- Gross operating margin -€25,198
down €25,198 (-13.8%), from €182,992 to €157,794
- Financial charges +€13,570
up €13,570 (+40.4%), from €33,556 to €47,126
- Taxes -€11,438
down €11,438 (-36.7%), from €31,204 to €19,767
- Other operating charges -€3,405
down €3,405 (-38.4%), from €8,855 to €5,450
- Financial income +€2,263
up €2,263 (+157%), from €1,445 to €3,708
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.
Derived cash bridge
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 | €2,045,304 | €2,014,956 | -€30,348 | -1.5% |
| Fixed assets | 21/28 | €1,778,784 | €1,714,190 | -€64,594 | -3.6% |
| Tangible fixed assets | 22/27 | €1,412,271 | €1,347,677 | -€64,594 | -4.6% |
| Land and buildings | 22 | €1,314,585 | €1,275,803 | -€38,782 | -3.0% |
| Plant, machinery and equipment | 23 | €2,490 | €2,447 | -€44 | -1.7% |
| Furniture and vehicles | 24 | €95,196 | €69,428 | -€25,768 | -27.1% |
| Financial fixed assets | 28 | €366,513 | €366,513 | = | 0.0% |
| Current assets | 29/58 | €266,520 | €300,766 | +€34,246 | +12.8% |
| Amounts receivable within one year | 40/41 | €26,417 | €39,992 | +€13,574 | +51.4% |
| Trade receivables | 40 | €25,040 | €33,080 | +€8,041 | +32.1% |
| Other amounts receivable | 41 | €1,378 | €6,912 | +€5,534 | +402% |
| Current investments | 50/53 | €150,000 | €0 | -€150,000 | -100% |
| Cash at bank and in hand | 54/58 | €88,850 | €259,387 | +€170,537 | +192% |
| Deferred charges and accrued income | 490/1 | €1,252 | €1,387 | +€134 | +10.7% |
| Total equity and liabilities | 10/49 | €2,045,304 | €2,014,956 | -€30,348 | -1.5% |
| Equity | 10/15 | €676,806 | €559,105 | -€117,701 | -17.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €670,606 | €552,905 | -€117,701 | -17.6% |
| Tax-exempt reserves | 132 | €98,521 | €95,007 | -€3,515 | -3.6% |
| Distributable reserves | 133 | €572,085 | €457,899 | -€114,186 | -20.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €24,630 | €23,752 | -€879 | -3.6% |
| Deferred taxes | 168 | €24,630 | €23,752 | -€879 | -3.6% |
| Amounts payable | 17/49 | €1,343,868 | €1,432,099 | +€88,232 | +6.6% |
| Amounts payable after more than one year | 17 | €843,899 | €819,630 | -€24,270 | -2.9% |
| Financial debts | 170/4 | €843,899 | €819,630 | -€24,270 | -2.9% |
| Amounts payable within one year | 42/48 | €486,464 | €586,467 | +€100,003 | +20.6% |
| Current portion of amounts payable after more than one year | 42 | €41,924 | €24,843 | -€17,081 | -40.7% |
| Trade debts | 44 | €3,915 | €8,225 | +€4,310 | +110% |
| Suppliers | 440/4 | €3,915 | €8,225 | +€4,310 | +110% |
| Taxes, remuneration and social security | 45 | €12,934 | €14,968 | +€2,034 | +15.7% |
| Taxes | 450/3 | €12,934 | €14,968 | +€2,034 | +15.7% |
| Other amounts payable | 47/48 | €427,691 | €538,431 | +€110,740 | +25.9% |
| Accrued charges and deferred income | 492/3 | €13,504 | €26,003 | +€12,498 | +92.6% |
| Non-recurring operating income | 76A | €38,032 | €0 | -€38,032 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,208 | €67,231 | +€23 | 0.0% |
| Other operating charges | 640/8 | €8,855 | €5,450 | -€3,405 | -38.4% |
| Gross operating margin | 9900 | €182,992 | €157,794 | -€25,198 | -13.8% |
| Operating profit (loss) | 9901 | €106,928 | €85,112 | -€21,816 | -20.4% |
| Financial income | 75/76B | €1,445 | €3,708 | +€2,263 | +157% |
| Recurring financial income | 75 | €1,445 | €3,708 | +€2,263 | +157% |
| Financial charges | 65/66B | €33,556 | €47,126 | +€13,570 | +40.4% |
| Recurring financial charges | 65 | €33,556 | €47,126 | +€13,570 | +40.4% |
| Profit (loss) for the period before taxes | 9903 | €74,817 | €41,694 | -€33,123 | -44.3% |
| Transfer from deferred taxes | 780 | €879 | €879 | = | 0.0% |
| Income taxes | 67/77 | €31,204 | €19,767 | -€11,438 | -36.7% |
| Profit (loss) for the period | 9904 | €44,492 | €22,806 | -€21,685 | -48.7% |
| Transfer from tax-exempt reserves | 789 | €3,515 | €3,515 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €48,006 | €26,321 | -€21,685 | -45.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.