LOREX: 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.
LOREX
Largest movements
- Tangible fixed assets -€6,552
down €6,552 (-6.7%), from €97,310 to €90,758
- Receivables within one year -€2,612
down €2,612 (-100.0%), from €2,612 to €0
of which Other amounts receivable: -€2,612
- Cash +€1,663
up €1,663 (+1893.1%), from €88 to €1,751
mainly Debts after one year (+€10,608) and Depreciation (+€6,552)
- Profit (loss) carried forward -€14,387
down €14,387 (-7.1%), from -€203,957 to -€218,344
- Debts after one year +€10,608
up €10,608 (+20.8%), from €51,118 to €61,725
- Revaluation surpluses -€6,552
down €6,552 (-8.9%), from €73,259 to €66,708
- Reserves +€6,552
up €6,552 (+6.9%), from €95,335 to €101,886
of which Distributable reserves: +€6,552
- Accrued charges and deferred income -€1,659
down €1,659 (-100.0%), from €1,659 to €0
- Depreciation -€6,871
down €6,871 (-51.2%), from €13,422 to €6,552
- Write-downs +€5,950
up €5,950, from -€5,950 to €0
- Gross operating margin -€2,115
down €2,115 (-66.3%), from €3,190 to €1,075
- Other operating charges -€1,567
down €1,567 (-16.1%), from €9,748 to €8,181
- Financial charges +€368
up €368 (+7260.9%), from €5 to €373
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 | €100,009 | €93,150 | -€6,860 | -6.9% |
| Fixed assets | 21/28 | €97,310 | €90,758 | -€6,552 | -6.7% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €97,310 | €90,758 | -€6,552 | -6.7% |
| Land and buildings | 22 | €97,310 | €90,758 | -€6,552 | -6.7% |
| Current assets | 29/58 | €2,700 | €2,391 | -€308 | -11.4% |
| Amounts receivable within one year | 40/41 | €2,612 | €0 | -€2,612 | -100.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €2,612 | €0 | -€2,612 | -100.0% |
| Cash at bank and in hand | 54/58 | €88 | €1,751 | +€1,663 | +1893.1% |
| Deferred charges and accrued income | 490/1 | - | €640 | +€640 | |
| Total equity and liabilities | 10/49 | €100,009 | €93,150 | -€6,860 | -6.9% |
| Equity | 10/15 | €26,637 | €12,250 | -€14,387 | -54.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €73,259 | €66,708 | -€6,552 | -8.9% |
| Reserves | 13 | €95,335 | €101,886 | +€6,552 | +6.9% |
| Non-distributable reserves | 130/1 | €112 | €112 | = | 0.0% |
| Legal reserve | 130 | €112 | €112 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,500 | €3,500 | = | 0.0% |
| Distributable reserves | 133 | €91,723 | €98,275 | +€6,552 | +7.1% |
| Profit (loss) carried forward | 14 | -€203,957 | -€218,344 | -€14,387 | -7.1% |
| Amounts payable | 17/49 | €73,373 | €80,900 | +€7,527 | +10.3% |
| Amounts payable after more than one year | 17 | €51,118 | €61,725 | +€10,608 | +20.8% |
| Other amounts payable | 178/9 | €51,118 | €61,725 | +€10,608 | +20.8% |
| Amounts payable within one year | 42/48 | €20,596 | €19,175 | -€1,421 | -6.9% |
| Current portion of amounts payable after more than one year | 42 | €5,667 | €5,667 | = | 0.0% |
| Trade debts | 44 | €2,295 | €1,846 | -€449 | -19.6% |
| Suppliers | 440/4 | €2,295 | €1,846 | -€449 | -19.6% |
| Taxes, remuneration and social security | 45 | €1,679 | €707 | -€972 | -57.9% |
| Taxes | 450/3 | €1,679 | €707 | -€972 | -57.9% |
| Other amounts payable | 47/48 | €10,955 | €10,955 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,659 | €0 | -€1,659 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,422 | €6,552 | -€6,871 | -51.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,950 | €0 | +€5,950 | |
| Other operating charges | 640/8 | €9,748 | €8,181 | -€1,567 | -16.1% |
| Gross operating margin | 9900 | €3,190 | €1,075 | -€2,115 | -66.3% |
| Operating profit (loss) | 9901 | -€14,030 | -€13,658 | +€372 | +2.7% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €5 | €373 | +€368 | +7260.9% |
| Recurring financial charges | 65 | €5 | €373 | +€368 | +7260.9% |
| Profit (loss) for the period before taxes | 9903 | -€14,035 | -€14,031 | +€4 | 0.0% |
| Income taxes | 67/77 | €351 | €356 | +€5 | +1.6% |
| Profit (loss) for the period | 9904 | -€14,386 | -€14,387 | -€1 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,386 | -€14,387 | -€1 | 0.0% |
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 12 October 2026 via checked.be.