LOPA: what changed
What changed
LOPA
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€16,021
2024 · €12,335+€3,686
Equity
€150,336
2024 · €134,315+€16,021
Cash
€1,459
2024 · €3,003-€1,544
Balance sheet total
€753,143
2024 · €782,473-€29,331
Largest movements
Assets
- Tangible fixed assets -€34,692
down €34,692 (-5.6%), from €623,173 to €588,481
Equity and liabilities
- Debts after one year -€65,599
down €65,599 (-21.6%), from €303,096 to €237,496
- Other debts +€18,109
up €18,109 (+6.6%), from €276,377 to €294,486
- Reserves +€16,021
up €16,021 (+46.7%), from €34,315 to €50,336
Income statement
- Gross operating margin +€2,660
up €2,660 (+3.8%), from €69,574 to €72,234
- Financial charges -€1,811
down €1,811 (-14.9%), from €12,156 to €10,346
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€12,335
Gross operating margin
+€2,660
Depreciation
-€351
Other operating charges
-€316
Financial income
+€0
Financial charges
+€1,811
Taxes
-€117
Result 2025
€16,021
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€62,180
Investment
€0
Financing
-€63,724
Cash 2024
€3,003
From operations (derived)
+€62,180
Net result for the year
+€16,021
Depreciation
+€34,692
Receivables within one year
-€5,049
Deferred charges and accrued income
-€1,856
Trade debts
-€405
Tax, wage and social debts
+€668
Other debts
+€18,109
Financing
-€63,724
Debts after one year
-€65,599
Current portion of long-term debt
+€1,876
Cash 2025
€1,459
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €782,473 | €753,143 | -€29,331 | -3.7% |
| Fixed assets | 21/28 | €765,521 | €730,829 | -€34,692 | -4.5% |
| Tangible fixed assets | 22/27 | €623,173 | €588,481 | -€34,692 | -5.6% |
| Land and buildings | 22 | €623,173 | €588,481 | -€34,692 | -5.6% |
| Financial fixed assets | 28 | €142,348 | €142,348 | = | 0.0% |
| Current assets | 29/58 | €16,953 | €22,314 | +€5,362 | +31.6% |
| Amounts receivable within one year | 40/41 | €13,950 | €18,999 | +€5,049 | +36.2% |
| Trade receivables | 40 | €9,000 | €18,999 | +€9,999 | +111% |
| Other amounts receivable | 41 | €4,950 | €0 | -€4,950 | -100% |
| Cash at bank and in hand | 54/58 | €3,003 | €1,459 | -€1,544 | -51.4% |
| Deferred charges and accrued income | 490/1 | - | €1,856 | +€1,856 | |
| Total equity and liabilities | 10/49 | €782,473 | €753,143 | -€29,331 | -3.7% |
| Equity | 10/15 | €134,315 | €150,336 | +€16,021 | +11.9% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €34,315 | €50,336 | +€16,021 | +46.7% |
| Distributable reserves | 133 | €34,315 | €50,336 | +€16,021 | +46.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €648,158 | €602,807 | -€45,352 | -7.0% |
| Amounts payable after more than one year | 17 | €303,096 | €237,496 | -€65,599 | -21.6% |
| Financial debts | 170/4 | €303,096 | €237,496 | -€65,599 | -21.6% |
| Amounts payable within one year | 42/48 | €345,063 | €365,310 | +€20,248 | +5.9% |
| Current portion of amounts payable after more than one year | 42 | €63,724 | €65,599 | +€1,876 | +2.9% |
| Trade debts | 44 | €1,112 | €708 | -€405 | -36.4% |
| Suppliers | 440/4 | €1,112 | €708 | -€405 | -36.4% |
| Taxes, remuneration and social security | 45 | €3,849 | €4,517 | +€668 | +17.3% |
| Taxes | 450/3 | €3,849 | €4,517 | +€668 | +17.3% |
| Other amounts payable | 47/48 | €276,377 | €294,486 | +€18,109 | +6.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,341 | €34,692 | +€351 | +1.0% |
| Other operating charges | 640/8 | €4,494 | €4,811 | +€316 | +7.0% |
| Gross operating margin | 9900 | €69,574 | €72,234 | +€2,660 | +3.8% |
| Operating profit (loss) | 9901 | €30,738 | €32,731 | +€1,993 | +6.5% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €12,156 | €10,346 | -€1,811 | -14.9% |
| Recurring financial charges | 65 | €12,156 | €10,346 | -€1,811 | -14.9% |
| Profit (loss) for the period before taxes | 9903 | €18,582 | €22,385 | +€3,803 | +20.5% |
| Income taxes | 67/77 | €6,247 | €6,364 | +€117 | +1.9% |
| Profit (loss) for the period | 9904 | €12,335 | €16,021 | +€3,686 | +29.9% |
| Profit (loss) for the period to be appropriated | 9905 | €12,335 | €16,021 | +€3,686 | +29.9% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.