LORCA: 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.
What changed
LORCA
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€42,205
2023 · €254,737-€212,532
Equity
€1.3m
2023 · €1.2m+€42,205
Cash
€26,181
2023 · €37,129-€10,948
Balance sheet total
€2.5m
2023 · €2.6m-€162,619
Largest movements
Assets
- Tangible fixed assets -€185,223
down €185,223 (-7.1%), from €2.6m to €2.4m
of which Plant, machinery and equipment: -€113,362
- Receivables within one year +€33,552
new in 2024: €33,552
Equity and liabilities
- Debts after one year -€114,027
down €114,027 (-13.1%), from €870,207 to €756,180
- Other debts -€108,294
down €108,294 (-43.3%), from €250,183 to €141,889
- Profit (loss) carried forward +€54,155
up €54,155 (+7.2%), from €755,074 to €809,229
Income statement
- Gross operating margin -€196,221
down €196,221 (-35.6%), from €550,704 to €354,483
- Taxes +€23,893
up €23,893 (+616.9%), from €3,873 to €27,766
- Depreciation -€6,840
down €6,840 (-2.8%), from €241,662 to €234,822
From the 2023 result to the 2024 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 2023
€254,737
Gross operating margin
-€196,221
Depreciation
+€6,840
Write-downs
+€2,756
Other operating charges
-€4,550
Financial income
+€1
Financial charges
+€2,535
Taxes
-€23,893
Result 2024
€42,205
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€151,211
Investment
-€49,599
Financing
-€112,560
Cash 2023
€37,129
From operations (derived)
+€151,211
Net result for the year
+€42,205
Depreciation
+€234,822
Receivables within one year
-€33,552
Provisions
-€2,987
Trade debts
+€19,017
Other debts
-€108,294
Investment (derived)
-€49,599
Investment in fixed assets (net)
-€49,599
Financing
-€112,560
Debts after one year
-€114,027
Current portion of long-term debt
+€1,467
Cash 2024
€26,181
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,641,161 | €2,478,542 | -€162,619 | -6.2% |
| Fixed assets | 21/28 | €2,604,032 | €2,418,809 | -€185,223 | -7.1% |
| Tangible fixed assets | 22/27 | €2,603,958 | €2,418,735 | -€185,223 | -7.1% |
| Land and buildings | 22 | €1,937,074 | €1,865,613 | -€71,461 | -3.7% |
| Plant, machinery and equipment | 23 | €664,917 | €551,555 | -€113,362 | -17.0% |
| Furniture and vehicles | 24 | €1,967 | €1,567 | -€400 | -20.3% |
| Financial fixed assets | 28 | €74 | €74 | = | 0.0% |
| Current assets | 29/58 | €37,129 | €59,733 | +€22,604 | +60.9% |
| Amounts receivable within one year | 40/41 | - | €33,552 | +€33,552 | |
| Trade receivables | 40 | - | €33,552 | +€33,552 | |
| Cash at bank and in hand | 54/58 | €37,129 | €26,181 | -€10,948 | -29.5% |
| Total equity and liabilities | 10/49 | €2,641,161 | €2,478,542 | -€162,619 | -6.2% |
| Equity | 10/15 | €1,241,199 | €1,283,404 | +€42,205 | +3.4% |
| Contributions | 10/11 | €372,000 | €372,000 | = | 0.0% |
| Capital | 10 | €372,000 | €372,000 | = | 0.0% |
| Issued capital | 100 | €372,000 | €372,000 | = | 0.0% |
| Reserves | 13 | €114,125 | €102,175 | -€11,950 | -10.5% |
| Non-distributable reserves | 130/1 | €37,200 | €37,200 | = | 0.0% |
| Legal reserve | 130 | €37,200 | €37,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €17,925 | €5,975 | -€11,950 | -66.7% |
| Distributable reserves | 133 | €59,000 | €59,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €755,074 | €809,229 | +€54,155 | +7.2% |
| Provisions and deferred taxes | 16 | €11,950 | €8,963 | -€2,987 | -25.0% |
| Provisions for liabilities and charges | 160/5 | €11,950 | €8,963 | -€2,987 | -25.0% |
| Taxes | 161 | €11,950 | €8,963 | -€2,987 | -25.0% |
| Amounts payable | 17/49 | €1,388,012 | €1,186,175 | -€201,837 | -14.5% |
| Amounts payable after more than one year | 17 | €870,207 | €756,180 | -€114,027 | -13.1% |
| Financial debts | 170/4 | €870,207 | €756,180 | -€114,027 | -13.1% |
| Amounts payable within one year | 42/48 | €517,805 | €429,995 | -€87,810 | -17.0% |
| Current portion of amounts payable after more than one year | 42 | €112,561 | €114,028 | +€1,467 | +1.3% |
| Trade debts | 44 | €155,061 | €174,078 | +€19,017 | +12.3% |
| Suppliers | 440/4 | €155,061 | €174,078 | +€19,017 | +12.3% |
| Other amounts payable | 47/48 | €250,183 | €141,889 | -€108,294 | -43.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €241,662 | €234,822 | -€6,840 | -2.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,156 | €400 | -€2,756 | -87.3% |
| Other operating charges | 640/8 | €35,559 | €40,109 | +€4,550 | +12.8% |
| Gross operating margin | 9900 | €550,704 | €354,483 | -€196,221 | -35.6% |
| Operating profit (loss) | 9901 | €270,327 | €79,152 | -€191,175 | -70.7% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €14,705 | €12,170 | -€2,535 | -17.2% |
| Recurring financial charges | 65 | €14,705 | €12,170 | -€2,535 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | €255,622 | €66,983 | -€188,639 | -73.8% |
| Transfer from deferred taxes | 780 | €2,988 | €2,988 | = | 0.0% |
| Income taxes | 67/77 | €3,873 | €27,766 | +€23,893 | +616.9% |
| Profit (loss) for the period | 9904 | €254,737 | €42,205 | -€212,532 | -83.4% |
| Transfer from tax-exempt reserves | 789 | €11,950 | €11,950 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €266,687 | €54,155 | -€212,532 | -79.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.