LORAN: 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.
LORAN
Largest movements
- Cash +€45,233
up €45,233 (+18.3%), from €246,695 to €291,927
mainly Net result for the year (+€27,181) and Trade debts (+€13,329)
- Stocks and contracts -€6,999
down €6,999 (-21.9%), from €31,993 to €24,994
- Tangible fixed assets +€5,763
up €5,763 (+44.4%), from €12,985 to €18,748
of which Other tangible fixed assets: +€7,500
- Reserves +€27,000
up €27,000 (+9.6%), from €281,178 to €308,178
- Trade debts +€13,329
up €13,329 (+6,308%), from €211 to €13,540
- Tax, wage and social debts +€9,030
up €9,030 (+35.3%), from €25,583 to €34,613
- Current portion of long-term debt -€5,119
no longer reported in 2025 (was €5,119)
- Gross operating margin -€31,911
down €31,911 (-39.0%), from €81,729 to €49,818
- Taxes -€4,083
down €4,083 (-19.9%), from €20,527 to €16,444
- Depreciation -€1,915
down €1,915 (-31.1%), from €6,151 to €4,237
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 | €314,361 | €358,781 | +€44,421 | +14.1% |
| Fixed assets | 21/28 | €15,985 | €21,748 | +€5,763 | +36.1% |
| Tangible fixed assets | 22/27 | €12,985 | €18,748 | +€5,763 | +44.4% |
| Plant, machinery and equipment | 23 | €2,992 | €1,636 | -€1,357 | -45.3% |
| Furniture and vehicles | 24 | €380 | €0 | -€380 | -100.0% |
| Other tangible fixed assets | 26 | €9,612 | €17,112 | +€7,500 | +78.0% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €298,376 | €337,033 | +€38,657 | +13.0% |
| Stocks and contracts in progress | 3 | €31,993 | €24,994 | -€6,999 | -21.9% |
| Stocks | 30/36 | €31,993 | €24,994 | -€6,999 | -21.9% |
| Amounts receivable within one year | 40/41 | €19,688 | €20,112 | +€423 | +2.1% |
| Other amounts receivable | 41 | €19,688 | €20,112 | +€423 | +2.1% |
| Cash at bank and in hand | 54/58 | €246,695 | €291,927 | +€45,233 | +18.3% |
| Total equity and liabilities | 10/49 | €314,361 | €358,781 | +€44,421 | +14.1% |
| Equity | 10/15 | €283,448 | €310,629 | +€27,181 | +9.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €281,178 | €308,178 | +€27,000 | +9.6% |
| Distributable reserves | 133 | €281,178 | €308,178 | +€27,000 | +9.6% |
| Profit (loss) carried forward | 14 | €270 | €451 | +€181 | +67.1% |
| Amounts payable | 17/49 | €30,913 | €48,152 | +€17,240 | +55.8% |
| Amounts payable within one year | 42/48 | €30,913 | €48,152 | +€17,240 | +55.8% |
| Current portion of amounts payable after more than one year | 42 | €5,119 | - | -€5,119 | |
| Trade debts | 44 | €211 | €13,540 | +€13,329 | +6,308% |
| Suppliers | 440/4 | €211 | €13,540 | +€13,329 | +6,308% |
| Taxes, remuneration and social security | 45 | €25,583 | €34,613 | +€9,030 | +35.3% |
| Taxes | 450/3 | €25,583 | €34,613 | +€9,030 | +35.3% |
| Non-recurring operating income | 76A | €563 | - | -€563 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,151 | €4,237 | -€1,915 | -31.1% |
| Other operating charges | 640/8 | €2,513 | €2,479 | -€33 | -1.3% |
| Gross operating margin | 9900 | €81,729 | €49,818 | -€31,911 | -39.0% |
| Operating profit (loss) | 9901 | €73,065 | €43,102 | -€29,963 | -41.0% |
| Financial income | 75/76B | €1,277 | €1,205 | -€72 | -5.6% |
| Recurring financial income | 75 | €1,277 | €1,205 | -€72 | -5.6% |
| Financial charges | 65/66B | €546 | €683 | +€137 | +25.1% |
| Recurring financial charges | 65 | €546 | €683 | +€137 | +25.1% |
| Profit (loss) for the period before taxes | 9903 | €73,797 | €43,625 | -€30,172 | -40.9% |
| Income taxes | 67/77 | €20,527 | €16,444 | -€4,083 | -19.9% |
| Profit (loss) for the period | 9904 | €53,270 | €27,181 | -€26,089 | -49.0% |
| Profit (loss) for the period to be appropriated | 9905 | €53,270 | €27,181 | -€26,089 | -49.0% |
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 13 October 2026 via checked.be.