LORCA PROJECTS: 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.
LORCA PROJECTS
Largest movements
- Tangible fixed assets -€102,334
down €102,334 (-6.3%), from €1.6m to €1.5m
of which Land and buildings: -€88,994
- Cash -€24,086
down €24,086 (-74.9%), from €32,162 to €8,077
mainly Trade debts (-€57,955) and Other debts (-€46,492)
- Trade debts -€57,955
down €57,955 (-87.3%), from €66,408 to €8,453
- Profit (loss) carried forward +€47,555
up €47,555 (+15.7%), from -€302,743 to -€255,189
- Other debts -€46,492
down €46,492 (-33.1%), from €140,296 to €93,804
- Debts after one year -€39,386
down €39,386 (-6.0%), from €659,166 to €619,780
of which Financial debts: -€39,386
- Current portion of long-term debt -€20,125
down €20,125 (-33.8%), from €59,512 to €39,386
- Gross operating margin +€67,091
up €67,091 (+40.3%), from €166,547 to €233,637
- Depreciation +€22,402
up €22,402 (+19.8%), from €112,993 to €135,395
- Financial charges -€4,628
down €4,628 (-9.7%), from €47,511 to €42,883
- Other operating charges -€4,442
down €4,442 (-26.6%), from €16,727 to €12,285
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 | €1,789,414 | €1,676,917 | -€112,498 | -6.3% |
| Fixed assets | 21/28 | €1,632,253 | €1,529,919 | -€102,334 | -6.3% |
| Tangible fixed assets | 22/27 | €1,632,253 | €1,529,919 | -€102,334 | -6.3% |
| Land and buildings | 22 | €1,441,941 | €1,352,948 | -€88,994 | -6.2% |
| Plant, machinery and equipment | 23 | €174,867 | €156,350 | -€18,518 | -10.6% |
| Furniture and vehicles | 24 | €15,445 | €20,622 | +€5,177 | +33.5% |
| Current assets | 29/58 | €157,161 | €146,998 | -€10,163 | -6.5% |
| Amounts receivable within one year | 40/41 | €107,773 | €111,970 | +€4,197 | +3.9% |
| Trade receivables | 40 | €31,613 | €9,690 | -€21,923 | -69.3% |
| Other amounts receivable | 41 | €76,161 | €102,280 | +€26,120 | +34.3% |
| Cash at bank and in hand | 54/58 | €32,162 | €8,077 | -€24,086 | -74.9% |
| Deferred charges and accrued income | 490/1 | €17,225 | €26,951 | +€9,725 | +56.5% |
| Total equity and liabilities | 10/49 | €1,789,414 | €1,676,917 | -€112,498 | -6.3% |
| Equity | 10/15 | €754,056 | €801,611 | +€47,555 | +6.3% |
| Contributions | 10/11 | €130,000 | €130,000 | = | 0.0% |
| Revaluation surpluses | 12 | €913,799 | €913,799 | = | 0.0% |
| Reserves | 13 | €13,000 | €13,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,000 | €13,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €13,000 | €13,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€302,743 | -€255,189 | +€47,555 | +15.7% |
| Amounts payable | 17/49 | €1,035,358 | €875,306 | -€160,052 | -15.5% |
| Amounts payable after more than one year | 17 | €659,166 | €619,780 | -€39,386 | -6.0% |
| Financial debts | 170/4 | €359,166 | €319,780 | -€39,386 | -11.0% |
| Other amounts payable | 178/9 | €300,000 | €300,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €327,352 | €194,476 | -€132,876 | -40.6% |
| Current portion of amounts payable after more than one year | 42 | €59,512 | €39,386 | -€20,125 | -33.8% |
| Financial debts | 43 | €50,000 | €50,000 | = | 0.0% |
| Credit institutions | 430/8 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €66,408 | €8,453 | -€57,955 | -87.3% |
| Suppliers | 440/4 | €66,408 | €8,453 | -€57,955 | -87.3% |
| Taxes, remuneration and social security | 45 | €11,136 | €2,833 | -€8,303 | -74.6% |
| Taxes | 450/3 | €11,136 | €2,833 | -€8,303 | -74.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €140,296 | €93,804 | -€46,492 | -33.1% |
| Accrued charges and deferred income | 492/3 | €48,840 | €61,050 | +€12,210 | +25.0% |
| Non-recurring operating income | 76A | - | €39,891 | +€39,891 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,993 | €135,395 | +€22,402 | +19.8% |
| Other operating charges | 640/8 | €16,727 | €12,285 | -€4,442 | -26.6% |
| Gross operating margin | 9900 | €166,547 | €233,637 | +€67,091 | +40.3% |
| Operating profit (loss) | 9901 | €36,826 | €85,957 | +€49,131 | +133.4% |
| Financial income | 75/76B | €3,597 | €5,105 | +€1,508 | +41.9% |
| Recurring financial income | 75 | €3,597 | €5,105 | +€1,508 | +41.9% |
| Financial charges | 65/66B | €47,511 | €42,883 | -€4,628 | -9.7% |
| Recurring financial charges | 65 | €47,511 | €42,883 | -€4,628 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | -€7,088 | €48,179 | +€55,267 | |
| Income taxes | 67/77 | €595 | €624 | +€29 | +4.9% |
| Profit (loss) for the period | 9904 | -€7,683 | €47,555 | +€55,238 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,683 | €47,555 | +€55,238 |
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 8 October 2026 via checked.be.