LOR Management: 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 Management
Largest movements
- Receivables within one year -€10,697
down €10,697 (-49.7%), from €21,507 to €10,810
of which Trade receivables: -€10,415
- Cash +€2,561
up €2,561 (+191.8%), from €1,335 to €3,896
mainly Receivables within one year (+€10,697) and Net result for the year (+€7,470)
- Tangible fixed assets -€1,984
down €1,984 (-16.0%), from €12,373 to €10,388
- Other debts -€19,428
down €19,428 (-51.0%), from €38,083 to €18,655
- Profit (loss) carried forward +€7,470
up €7,470 (+10.7%), from -€69,727 to -€62,257
- Trade debts +€2,170
up €2,170 (+4.6%), from €47,095 to €49,265
- Gross operating margin -€32,794
down €32,794 (-76.3%), from €42,987 to €10,193
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 | €35,461 | €25,345 | -€10,116 | -28.5% |
| Fixed assets | 21/28 | €12,373 | €10,388 | -€1,984 | -16.0% |
| Tangible fixed assets | 22/27 | €12,373 | €10,388 | -€1,984 | -16.0% |
| Other tangible fixed assets | 26 | €12,373 | €10,388 | -€1,984 | -16.0% |
| Current assets | 29/58 | €23,088 | €14,956 | -€8,132 | -35.2% |
| Amounts receivable within one year | 40/41 | €21,507 | €10,810 | -€10,697 | -49.7% |
| Trade receivables | 40 | €21,223 | €10,807 | -€10,415 | -49.1% |
| Other amounts receivable | 41 | €284 | €3 | -€281 | -99.0% |
| Cash at bank and in hand | 54/58 | €1,335 | €3,896 | +€2,561 | +191.8% |
| Deferred charges and accrued income | 490/1 | €246 | €250 | +€4 | +1.6% |
| Total equity and liabilities | 10/49 | €35,461 | €25,345 | -€10,116 | -28.5% |
| Equity | 10/15 | -€51,127 | -€43,657 | +€7,470 | +14.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€69,727 | -€62,257 | +€7,470 | +10.7% |
| Amounts payable | 17/49 | €86,588 | €69,001 | -€17,586 | -20.3% |
| Amounts payable within one year | 42/48 | €86,588 | €69,001 | -€17,586 | -20.3% |
| Trade debts | 44 | €47,095 | €49,265 | +€2,170 | +4.6% |
| Suppliers | 440/4 | €47,095 | €49,265 | +€2,170 | +4.6% |
| Taxes, remuneration and social security | 45 | €1,410 | €1,081 | -€329 | -23.3% |
| Taxes | 450/3 | €1,410 | €1,081 | -€329 | -23.3% |
| Other amounts payable | 47/48 | €38,083 | €18,655 | -€19,428 | -51.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,984 | €1,984 | = | 0.0% |
| Other operating charges | 640/8 | €352 | €165 | -€186 | -53.0% |
| Non-recurring operating charges | 66A | - | €284 | +€284 | |
| Gross operating margin | 9900 | €42,987 | €10,193 | -€32,794 | -76.3% |
| Operating profit (loss) | 9901 | €40,651 | €7,760 | -€32,891 | -80.9% |
| Financial charges | 65/66B | €303 | €290 | -€13 | -4.3% |
| Recurring financial charges | 65 | €303 | €284 | -€19 | -6.2% |
| Non-recurring financial charges | 66B | - | €6 | +€6 | |
| Profit (loss) for the period before taxes | 9903 | €40,349 | €7,470 | -€32,878 | -81.5% |
| Profit (loss) for the period | 9904 | €40,349 | €7,470 | -€32,878 | -81.5% |
| Profit (loss) for the period to be appropriated | 9905 | €40,349 | €7,470 | -€32,878 | -81.5% |
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 30 September 2026 via checked.be.