LOPAG: 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.
LOPAG
Largest movements
- Cash -€9,128
down €9,128 (-58.9%), from €15,497 to €6,369
mainly Net result for the year (-€36,536)
- Tangible fixed assets -€4,044
down €4,044 (-30.6%), from €13,210 to €9,166
of which Furniture and vehicles: -€3,364
- Stocks and contracts -€3,672
down €3,672 (-2.6%), from €140,490 to €136,818
- Reserves -€121,920
down €121,920 (-61.8%), from €197,234 to €75,314
- Profit (loss) carried forward +€85,384
up €85,384, from -€85,384 to €0
- Debts after one year +€12,000
up €12,000 (+60.0%), from €20,000 to €32,000
- Other debts +€2,619
up €2,619, from €0 to €2,619
- Trade debts +€2,209
up €2,209 (+29.5%), from €7,481 to €9,690
- Gross operating margin +€1,874
up €1,874 (+8.7%), from €21,623 to €23,497
- Staff costs +€1,127
up €1,127 (+2.2%), from €50,552 to €51,680
- Depreciation -€417
down €417 (-9.3%), from €4,461 to €4,044
- Financial income -€370
down €370 (-37.6%), from €985 to €615
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 | €174,880 | €155,525 | -€19,355 | -11.1% |
| Fixed assets | 21/28 | €13,210 | €9,166 | -€4,044 | -30.6% |
| Tangible fixed assets | 22/27 | €13,210 | €9,166 | -€4,044 | -30.6% |
| Plant, machinery and equipment | 23 | €1,271 | €591 | -€680 | -53.5% |
| Furniture and vehicles | 24 | €11,938 | €8,574 | -€3,364 | -28.2% |
| Current assets | 29/58 | €161,670 | €146,360 | -€15,311 | -9.5% |
| Stocks and contracts in progress | 3 | €140,490 | €136,818 | -€3,672 | -2.6% |
| Stocks | 30/36 | €140,490 | €136,818 | -€3,672 | -2.6% |
| Amounts receivable within one year | 40/41 | €2,271 | €1,420 | -€851 | -37.5% |
| Trade receivables | 40 | €1,006 | €994 | -€12 | -1.2% |
| Other amounts receivable | 41 | €1,264 | €426 | -€839 | -66.3% |
| Cash at bank and in hand | 54/58 | €15,497 | €6,369 | -€9,128 | -58.9% |
| Deferred charges and accrued income | 490/1 | €3,412 | €1,753 | -€1,660 | -48.6% |
| Total equity and liabilities | 10/49 | €174,880 | €155,525 | -€19,355 | -11.1% |
| Equity | 10/15 | €136,850 | €100,314 | -€36,536 | -26.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €197,234 | €75,314 | -€121,920 | -61.8% |
| Distributable reserves | 133 | €197,234 | €75,314 | -€121,920 | -61.8% |
| Profit (loss) carried forward | 14 | -€85,384 | €0 | +€85,384 | |
| Amounts payable | 17/49 | €38,030 | €55,211 | +€17,181 | +45.2% |
| Amounts payable after more than one year | 17 | €20,000 | €32,000 | +€12,000 | +60.0% |
| Other amounts payable | 178/9 | €20,000 | €32,000 | +€12,000 | +60.0% |
| Amounts payable within one year | 42/48 | €18,030 | €23,211 | +€5,181 | +28.7% |
| Trade debts | 44 | €7,481 | €9,690 | +€2,209 | +29.5% |
| Suppliers | 440/4 | €7,481 | €9,690 | +€2,209 | +29.5% |
| Taxes, remuneration and social security | 45 | €10,549 | €10,903 | +€354 | +3.4% |
| Taxes | 450/3 | €2,768 | €4,490 | +€1,722 | +62.2% |
| Remuneration and social security | 454/9 | €7,781 | €6,413 | -€1,368 | -17.6% |
| Other amounts payable | 47/48 | €0 | €2,619 | +€2,619 | |
| Remuneration, social security and pensions | 62 | €50,552 | €51,680 | +€1,127 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,461 | €4,044 | -€417 | -9.3% |
| Other operating charges | 640/8 | €3,369 | €3,538 | +€170 | +5.0% |
| Gross operating margin | 9900 | €21,623 | €23,497 | +€1,874 | +8.7% |
| Operating profit (loss) | 9901 | -€36,759 | -€35,765 | +€994 | +2.7% |
| Financial income | 75/76B | €985 | €615 | -€370 | -37.6% |
| Recurring financial income | 75 | €985 | €615 | -€370 | -37.6% |
| Financial charges | 65/66B | €872 | €1,083 | +€212 | +24.3% |
| Recurring financial charges | 65 | €872 | €1,083 | +€212 | +24.3% |
| Profit (loss) for the period before taxes | 9903 | -€36,646 | -€36,234 | +€412 | +1.1% |
| Income taxes | 67/77 | €471 | €302 | -€169 | -35.9% |
| Profit (loss) for the period | 9904 | -€37,117 | -€36,536 | +€581 | +1.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,117 | -€36,536 | +€581 | +1.6% |
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 21 October 2026 via checked.be.