LOPAR: 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.
What changed
LOPAR
NACE 64.210, Activities of holding companies
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€295,183
2024 · -€431,118+€135,936
Equity
€24.1m
2024 · €24.4m-€295,183
Cash
€235,405
2024 · €430,525-€195,120
Balance sheet total
€54.7m
2024 · €56.5m-€1.9m
Largest movements
Assets
- Financial fixed assets -€3.4m
down €3.4m (-17.9%), from €19.1m to €15.7m
- Receivables within one year +€1.6m
up €1.6m (+190.4%), from €842,698 to €2.4m
of which Other amounts receivable: +€1.6m
- Deferred charges and accrued income +€703,843
up €703,843 (+42.2%), from €1.7m to €2.4m
- Tangible fixed assets -€637,619
down €637,619 (-4.0%), from €16.0m to €15.3m
of which Other tangible fixed assets: -€631,006
Equity and liabilities
- Debts after one year -€5.4m
down €5.4m (-21.0%), from €25.7m to €20.3m
- Current portion of long-term debt +€3.1m
up €3.1m (+172.7%), from €1.8m to €4.9m
- Short-term financial debts +€1.5m
up €1.5m (+225.0%), from €650,000 to €2.1m
- Other debts -€718,186
down €718,186 (-97.9%), from €733,963 to €15,778
Income statement
- Gross operating margin -€200,399
down €200,399 (-14.3%), from €1.4m to €1.2m
- Financial income +€197,918
up €197,918 (+20.2%), from €981,388 to €1.2m
- Write-downs -€94,466
down €94,466, from €64,220 to -€30,246
- Other operating charges -€38,438
down €38,438 (-32.3%), from €118,881 to €80,443
- Staff costs -€21,129
down €21,129 (-5.4%), from €388,520 to €367,391
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.
Result 2024
-€431,118
Gross operating margin
-€200,399
Staff costs
+€21,129
Depreciation
-€5,933
Write-downs
+€94,466
Other operating charges
+€38,438
Other operating items
-€236
Financial income
+€197,918
Financial charges
-€11,042
Taxes
+€1,594
Result 2025
-€295,183
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.
From operations
-€2.5m
Investment
+€3.2m
Financing
-€824,676
Cash 2024
€430,525
From operations (derived)
-€2.5m
Net result for the year
-€295,183
Depreciation
+€871,106
Receivables after one year
-€77,000
Receivables within one year
-€1.6m
Deferred charges and accrued income
-€703,843
Trade debts
-€84,709
Tax, wage and social debts
-€28,299
Advances received
+€43,692
Other debts
-€718,186
Accrued charges and deferred income
+€55,340
Investment (derived)
+€3.2m
Investment in fixed assets (net)
+€3.2m
Financing
-€824,676
Debts after one year
-€5.4m
Current portion of long-term debt
+€3.1m
Short-term financial debts
+€1.5m
Cash 2025
€235,405
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €56,545,130 | €54,693,109 | -€1.9m | -3.3% |
| Fixed assets | 21/28 | €35,023,212 | €30,980,795 | -€4.0m | -11.5% |
| Intangible fixed assets | 21 | €3,390 | €2,560 | -€830 | -24.5% |
| Tangible fixed assets | 22/27 | €15,953,369 | €15,315,750 | -€637,619 | -4.0% |
| Furniture and vehicles | 24 | €58,031 | €51,418 | -€6,613 | -11.4% |
| Other tangible fixed assets | 26 | €15,695,338 | €15,064,332 | -€631,006 | -4.0% |
| Assets under construction and advance payments | 27 | €200,000 | €200,000 | = | 0.0% |
| Financial fixed assets | 28 | €19,066,452 | €15,662,485 | -€3.4m | -17.9% |
| Current assets | 29/58 | €21,521,919 | €23,712,314 | +€2.2m | +10.2% |
| Amounts receivable after more than one year | 29 | €18,574,090 | €18,651,090 | +€77,000 | +0.4% |
| Other amounts receivable | 291 | €18,574,090 | €18,651,090 | +€77,000 | +0.4% |
| Stocks and contracts in progress | 3 | €6,933 | €6,933 | = | 0.0% |
| Stocks | 30/36 | €6,933 | €6,933 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €842,698 | €2,447,370 | +€1.6m | +190.4% |
| Trade receivables | 40 | €536,926 | €550,697 | +€13,771 | +2.6% |
| Other amounts receivable | 41 | €305,772 | €1,896,673 | +€1.6m | +520.3% |
| Cash at bank and in hand | 54/58 | €430,525 | €235,405 | -€195,120 | -45.3% |
| Deferred charges and accrued income | 490/1 | €1,667,673 | €2,371,516 | +€703,843 | +42.2% |
| Total equity and liabilities | 10/49 | €56,545,130 | €54,693,109 | -€1.9m | -3.3% |
| Equity | 10/15 | €24,377,831 | €24,082,648 | -€295,183 | -1.2% |
| Contributions | 10/11 | €608,013 | €608,013 | = | 0.0% |
| Capital | 10 | €600,000 | €600,000 | = | 0.0% |
| Issued capital | 100 | €600,000 | €600,000 | = | 0.0% |
| Contributions outside capital | 11 | €8,013 | €8,013 | = | 0.0% |
| Share premium | 1100/10 | €8,013 | €8,013 | = | 0.0% |
| Reserves | 13 | €4,890,769 | €4,890,769 | = | 0.0% |
| Non-distributable reserves | 130/1 | €250,000 | €250,000 | = | 0.0% |
| Legal reserve | 130 | €250,000 | €250,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,440,661 | €4,440,661 | = | 0.0% |
| Distributable reserves | 133 | €200,108 | €200,108 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,879,048 | €18,583,865 | -€295,183 | -1.6% |
| Provisions and deferred taxes | 16 | €1,480,220 | €1,480,220 | = | 0.0% |
| Deferred taxes | 168 | €1,480,220 | €1,480,220 | = | 0.0% |
| Amounts payable | 17/49 | €30,687,079 | €29,130,240 | -€1.6m | -5.1% |
| Amounts payable after more than one year | 17 | €25,697,332 | €20,291,528 | -€5.4m | -21.0% |
| Financial debts | 170/4 | €25,697,332 | €20,291,528 | -€5.4m | -21.0% |
| Amounts payable within one year | 42/48 | €4,294,843 | €8,088,469 | +€3.8m | +88.3% |
| Current portion of amounts payable after more than one year | 42 | €1,806,329 | €4,925,000 | +€3.1m | +172.7% |
| Financial debts | 43 | €650,000 | €2,112,457 | +€1.5m | +225.0% |
| Credit institutions | 430/8 | €650,000 | €2,112,457 | +€1.5m | +225.0% |
| Trade debts | 44 | €978,056 | €893,347 | -€84,709 | -8.7% |
| Suppliers | 440/4 | €978,056 | €893,347 | -€84,709 | -8.7% |
| Advances received on contracts in progress | 46 | €34,175 | €77,866 | +€43,692 | +127.8% |
| Taxes, remuneration and social security | 45 | €92,320 | €64,021 | -€28,299 | -30.7% |
| Taxes | 450/3 | €46,757 | €23,633 | -€23,124 | -49.5% |
| Remuneration and social security | 454/9 | €45,563 | €40,388 | -€5,175 | -11.4% |
| Other amounts payable | 47/48 | €733,963 | €15,778 | -€718,186 | -97.9% |
| Accrued charges and deferred income | 492/3 | €694,904 | €750,244 | +€55,340 | +8.0% |
| Non-recurring operating income | 76A | €13,575 | €7,400 | -€6,175 | -45.5% |
| Remuneration, social security and pensions | 62 | €388,520 | €367,391 | -€21,129 | -5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €865,173 | €871,106 | +€5,933 | +0.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €64,220 | -€30,246 | -€94,466 | |
| Other operating charges | 640/8 | €118,881 | €80,443 | -€38,438 | -32.3% |
| Non-recurring operating charges | 66A | - | €236 | +€236 | |
| Gross operating margin | 9900 | €1,405,457 | €1,205,059 | -€200,399 | -14.3% |
| Operating profit (loss) | 9901 | -€31,337 | -€83,872 | -€52,535 | -167.6% |
| Financial income | 75/76B | €981,388 | €1,179,306 | +€197,918 | +20.2% |
| Recurring financial income | 75 | €981,388 | €1,179,306 | +€197,918 | +20.2% |
| Financial charges | 65/66B | €1,379,491 | €1,390,533 | +€11,042 | +0.8% |
| Recurring financial charges | 65 | €1,379,491 | €1,390,533 | +€11,042 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | -€429,441 | -€295,099 | +€134,342 | +31.3% |
| Income taxes | 67/77 | €1,678 | €84 | -€1,594 | -95.0% |
| Profit (loss) for the period | 9904 | -€431,118 | -€295,183 | +€135,936 | +31.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€431,118 | -€295,183 | +€135,936 | +31.5% |
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 9 October 2026 via checked.be.