LOREFAC: 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.
LOREFAC
Largest movements
- Receivables within one year -€78,386
no longer reported in 2025 (was €78,386)
- Financial fixed assets -€16,378
no longer reported in 2025 (was €16,378)
- Cash -€3,382
down €3,382 (-6.0%), from €56,546 to €53,164
mainly Net result for the year (-€97,246) and Trade debts (-€700)
- Profit (loss) carried forward -€97,246
down €97,246 (-33.2%), from -€292,667 to -€389,913
- Other operating charges +€93,041
up €93,041 (+5686.5%), from €1,636 to €94,677
- Gross operating margin -€12,204
down €12,204, from €9,635 to -€2,569
- Purchases and services -€799
no longer reported in 2025 (was €799)
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 | €152,884 | €54,738 | -€98,146 | -64.2% |
| Fixed assets | 21/28 | €16,378 | - | -€16,378 | |
| Financial fixed assets | 28 | €16,378 | - | -€16,378 | |
| Current assets | 29/58 | €136,507 | €54,738 | -€81,769 | -59.9% |
| Amounts receivable within one year | 40/41 | €78,386 | - | -€78,386 | |
| Trade receivables | 40 | €78,386 | - | -€78,386 | |
| Cash at bank and in hand | 54/58 | €56,546 | €53,164 | -€3,382 | -6.0% |
| Deferred charges and accrued income | 490/1 | €1,574 | €1,574 | = | 0.0% |
| Total equity and liabilities | 10/49 | €152,884 | €54,738 | -€98,146 | -64.2% |
| Equity | 10/15 | -€270,216 | -€367,462 | -€97,246 | -36.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €3,859 | €3,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Other | 1319 | - | €1,859 | +€1,859 | |
| Tax-exempt reserves | 132 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€292,667 | -€389,913 | -€97,246 | -33.2% |
| Amounts payable | 17/49 | €423,100 | €422,200 | -€900 | -0.2% |
| Amounts payable after more than one year | 17 | €13,001 | €13,001 | = | 0.0% |
| Financial debts | 170/4 | €13,001 | €13,001 | = | 0.0% |
| Amounts payable within one year | 42/48 | €393,504 | €392,604 | -€900 | -0.2% |
| Current portion of amounts payable after more than one year | 42 | €13,622 | €13,622 | = | 0.0% |
| Financial debts | 43 | €5,526 | €5,526 | = | 0.0% |
| Credit institutions | 430/8 | €5,526 | €5,526 | = | 0.0% |
| Trade debts | 44 | €109,903 | €109,203 | -€700 | -0.6% |
| Suppliers | 440/4 | €109,903 | €109,203 | -€700 | -0.6% |
| Taxes, remuneration and social security | 45 | €263,241 | €263,241 | = | 0.0% |
| Remuneration and social security | 454/9 | €263,241 | €263,241 | = | 0.0% |
| Other amounts payable | 47/48 | €1,212 | €1,012 | -€200 | -16.5% |
| Accrued charges and deferred income | 492/3 | €16,594 | €16,594 | = | 0.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €799 | - | -€799 | |
| Other operating charges | 640/8 | €1,636 | €94,677 | +€93,041 | +5686.5% |
| Gross operating margin | 9900 | €9,635 | -€2,569 | -€12,204 | |
| Operating profit (loss) | 9901 | €7,999 | -€97,246 | -€105,245 | |
| Profit (loss) for the period before taxes | 9903 | €7,999 | -€97,246 | -€105,245 | |
| Profit (loss) for the period | 9904 | €7,999 | -€97,246 | -€105,245 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,999 | -€97,246 | -€105,245 |
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 7 October 2026 via checked.be.