LOGUIBALD: 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.
LOGUIBALD
Largest movements
- Receivables after one year -€38,329
down €38,329 (-75.2%), from €50,968 to €12,639
- Receivables within one year +€9,325
up €9,325 (+9.5%), from €98,080 to €107,405
of which Other amounts receivable: +€13,357
- Cash +€8,700
up €8,700 (+50.9%), from €17,093 to €25,793
mainly Net result for the year (+€59,957) and Receivables after one year (+€38,329)
- Deferred charges and accrued income +€3,672
up €3,672 (+628.5%), from €584 to €4,257
- Tangible fixed assets +€2,244
up €2,244 (+10.6%), from €21,100 to €23,344
of which Plant, machinery and equipment: +€1,828
- Tax, wage and social debts -€7,276
down €7,276 (-50.1%), from €14,527 to €7,250
- Trade debts -€4,400
down €4,400 (-76.5%), from €5,753 to €1,354
- Current portion of long-term debt -€2,254
down €2,254 (-100.0%), from €2,254 to €0
- Gross operating margin -€26,647
down €26,647 (-23.0%), from €115,881 to €89,233
- Taxes -€6,454
down €6,454 (-23.0%), from €28,045 to €21,590
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 | €191,143 | €176,437 | -€14,706 | -7.7% |
| Formation expenses | 20 | €317 | €0 | -€317 | -100.0% |
| Fixed assets | 21/28 | €24,100 | €26,344 | +€2,244 | +9.3% |
| Tangible fixed assets | 22/27 | €21,100 | €23,344 | +€2,244 | +10.6% |
| Plant, machinery and equipment | 23 | €1,301 | €3,129 | +€1,828 | +140.5% |
| Furniture and vehicles | 24 | €4,520 | €4,922 | +€403 | +8.9% |
| Other tangible fixed assets | 26 | €15,279 | €15,293 | +€14 | +0.1% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €166,726 | €150,094 | -€16,632 | -10.0% |
| Amounts receivable after more than one year | 29 | €50,968 | €12,639 | -€38,329 | -75.2% |
| Other amounts receivable | 291 | €50,968 | €12,639 | -€38,329 | -75.2% |
| Amounts receivable within one year | 40/41 | €98,080 | €107,405 | +€9,325 | +9.5% |
| Trade receivables | 40 | €4,033 | €0 | -€4,033 | -100.0% |
| Other amounts receivable | 41 | €94,048 | €107,405 | +€13,357 | +14.2% |
| Cash at bank and in hand | 54/58 | €17,093 | €25,793 | +€8,700 | +50.9% |
| Deferred charges and accrued income | 490/1 | €584 | €4,257 | +€3,672 | +628.5% |
| Total equity and liabilities | 10/49 | €191,143 | €176,437 | -€14,706 | -7.7% |
| Equity | 10/15 | €116,865 | €116,822 | -€43 | 0.0% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €101,865 | €101,822 | -€43 | 0.0% |
| Amounts payable | 17/49 | €74,278 | €59,615 | -€14,663 | -19.7% |
| Amounts payable within one year | 42/48 | €74,258 | €59,604 | -€14,654 | -19.7% |
| Current portion of amounts payable after more than one year | 42 | €2,254 | €0 | -€2,254 | -100.0% |
| Trade debts | 44 | €5,753 | €1,354 | -€4,400 | -76.5% |
| Suppliers | 440/4 | €5,753 | €1,354 | -€4,400 | -76.5% |
| Taxes, remuneration and social security | 45 | €14,527 | €7,250 | -€7,276 | -50.1% |
| Taxes | 450/3 | €14,527 | €7,250 | -€7,276 | -50.1% |
| Other amounts payable | 47/48 | €51,724 | €51,000 | -€724 | -1.4% |
| Accrued charges and deferred income | 492/3 | €20 | €11 | -€9 | -43.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,474 | €5,125 | +€652 | +14.6% |
| Other operating charges | 640/8 | €1,251 | €1,150 | -€101 | -8.1% |
| Gross operating margin | 9900 | €115,881 | €89,233 | -€26,647 | -23.0% |
| Operating profit (loss) | 9901 | €110,156 | €82,958 | -€27,198 | -24.7% |
| Financial income | 75/76B | €46 | €0 | -€46 | -99.1% |
| Recurring financial income | 75 | €46 | €0 | -€46 | -99.1% |
| Financial charges | 65/66B | €1,520 | €1,411 | -€109 | -7.2% |
| Recurring financial charges | 65 | €1,520 | €1,411 | -€109 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €108,683 | €81,548 | -€27,135 | -25.0% |
| Income taxes | 67/77 | €28,045 | €21,590 | -€6,454 | -23.0% |
| Profit (loss) for the period | 9904 | €80,638 | €59,957 | -€20,681 | -25.6% |
| Profit (loss) for the period to be appropriated | 9905 | €80,638 | €59,957 | -€20,681 | -25.6% |
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 4 October 2026 via checked.be.