LOR: 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.
LOR
Largest movements
- Tangible fixed assets +€260,836
up €260,836 (+1220.3%), from €21,375 to €282,211
of which Land and buildings: +€248,395
- Cash +€116,277
up €116,277 (+43.1%), from €270,037 to €386,314
mainly Debts after one year (+€235,073) and Net result for the year (+€129,249)
- Receivables within one year +€58,952
up €58,952 (+249.5%), from €23,630 to €82,582
of which Other amounts receivable: +€55,743
- Debts after one year +€235,073
new in 2025: €235,073
- Reserves +€129,249
up €129,249 (+78.8%), from €164,112 to €293,361
- Profit (loss) carried forward -€77,139
down €77,139 (-100.0%), from €77,139 to €0
- Tax, wage and social debts +€75,761
up €75,761 (+97.5%), from €77,672 to €153,433
of which Taxes: +€75,761
- Other debts +€57,854
new in 2025: €57,854
- Depreciation +€41,644
up €41,644 (+775.9%), from €5,367 to €47,012
- Taxes -€16,434
down €16,434 (-22.4%), from €73,372 to €56,938
- Gross operating margin -€9,305
down €9,305 (-3.8%), from €244,089 to €234,784
- Financial income +€3,104
up €3,104 (+3140.3%), from €99 to €3,203
- Financial charges +€2,618
up €2,618 (+574.0%), from €456 to €3,074
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 | €322,989 | €761,061 | +€438,072 | +135.6% |
| Fixed assets | 21/28 | €21,375 | €282,211 | +€260,836 | +1220.3% |
| Tangible fixed assets | 22/27 | €21,375 | €282,211 | +€260,836 | +1220.3% |
| Land and buildings | 22 | - | €248,395 | +€248,395 | |
| Plant, machinery and equipment | 23 | - | €22,458 | +€22,458 | |
| Furniture and vehicles | 24 | €9,660 | €11,358 | +€1,698 | +17.6% |
| Other tangible fixed assets | 26 | €11,715 | €0 | -€11,715 | -100.0% |
| Current assets | 29/58 | €301,614 | €478,850 | +€177,236 | +58.8% |
| Amounts receivable within one year | 40/41 | €23,630 | €82,582 | +€58,952 | +249.5% |
| Trade receivables | 40 | €20,895 | €24,104 | +€3,209 | +15.4% |
| Other amounts receivable | 41 | €2,735 | €58,478 | +€55,743 | +2038.2% |
| Cash at bank and in hand | 54/58 | €270,037 | €386,314 | +€116,277 | +43.1% |
| Deferred charges and accrued income | 490/1 | €7,947 | €9,955 | +€2,008 | +25.3% |
| Total equity and liabilities | 10/49 | €322,989 | €761,061 | +€438,072 | +135.6% |
| Equity | 10/15 | €244,751 | €296,861 | +€52,111 | +21.3% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €164,112 | €293,361 | +€129,249 | +78.8% |
| Distributable reserves | 133 | €164,112 | €293,361 | +€129,249 | +78.8% |
| Profit (loss) carried forward | 14 | €77,139 | €0 | -€77,139 | -100.0% |
| Amounts payable | 17/49 | €78,238 | €464,199 | +€385,961 | +493.3% |
| Amounts payable after more than one year | 17 | - | €235,073 | +€235,073 | |
| Financial debts | 170/4 | - | €235,073 | +€235,073 | |
| Amounts payable within one year | 42/48 | €78,061 | €229,126 | +€151,065 | +193.5% |
| Current portion of amounts payable after more than one year | 42 | - | €14,664 | +€14,664 | |
| Trade debts | 44 | €389 | €3,175 | +€2,786 | +715.9% |
| Suppliers | 440/4 | €389 | €3,175 | +€2,786 | +715.9% |
| Taxes, remuneration and social security | 45 | €77,672 | €153,433 | +€75,761 | +97.5% |
| Taxes | 450/3 | €73,372 | €149,133 | +€75,761 | +103.3% |
| Remuneration and social security | 454/9 | €4,300 | €4,300 | = | 0.0% |
| Other amounts payable | 47/48 | - | €57,854 | +€57,854 | |
| Accrued charges and deferred income | 492/3 | €177 | €0 | -€177 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,367 | €47,012 | +€41,644 | +775.9% |
| Other operating charges | 640/8 | €881 | €1,714 | +€833 | +94.6% |
| Gross operating margin | 9900 | €244,089 | €234,784 | -€9,305 | -3.8% |
| Operating profit (loss) | 9901 | €237,841 | €186,058 | -€51,783 | -21.8% |
| Financial income | 75/76B | €99 | €3,203 | +€3,104 | +3140.3% |
| Recurring financial income | 75 | €99 | €3,203 | +€3,104 | +3140.3% |
| Financial charges | 65/66B | €456 | €3,074 | +€2,618 | +574.0% |
| Recurring financial charges | 65 | €456 | €3,074 | +€2,618 | +574.0% |
| Profit (loss) for the period before taxes | 9903 | €237,484 | €186,187 | -€51,297 | -21.6% |
| Income taxes | 67/77 | €73,372 | €56,938 | -€16,434 | -22.4% |
| Profit (loss) for the period | 9904 | €164,112 | €129,249 | -€34,863 | -21.2% |
| Profit (loss) for the period to be appropriated | 9905 | €164,112 | €129,249 | -€34,863 | -21.2% |
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 29 September 2026 via checked.be.