LOS BLANCOS: 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.
LOS BLANCOS
Largest movements
- Cash +€178,758
up €178,758 (+36.1%), from €494,843 to €673,601
mainly Net result for the year (+€163,046) and Depreciation (+€77,925)
- Tangible fixed assets -€62,072
down €62,072 (-13.2%), from €470,417 to €408,345
of which Furniture and vehicles: -€41,836
- Stocks and contracts -€41,001
down €41,001 (-28.6%), from €143,338 to €102,337
- Reserves +€163,046
up €163,046 (+53.3%), from €306,052 to €469,098
of which Distributable reserves: +€163,046
- Debts after one year -€71,643
down €71,643 (-62.1%), from €115,352 to €43,709
- Trade debts +€16,915
up €16,915 (+32.4%), from €52,288 to €69,203
- Turnover -€1.8m
no longer reported in 2025 (was €1.8m)
- Purchases and services +€161,867
up €161,867 (+13.5%), from €1.2m to €1.4m
- Gross operating margin +€141,096
up €141,096 (+25.5%), from €552,500 to €693,596
- Taxes +€58,420
up €58,420 (+265%), from €22,015 to €80,435
- Other operating charges -€20,927
down €20,927 (-48.1%), from €43,483 to €22,556
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 | €1,431,171 | €1,518,483 | +€87,311 | +6.1% |
| Fixed assets | 21/28 | €470,417 | €408,345 | -€62,072 | -13.2% |
| Tangible fixed assets | 22/27 | €470,417 | €408,345 | -€62,072 | -13.2% |
| Land and buildings | 22 | €269,077 | €250,875 | -€18,202 | -6.8% |
| Plant, machinery and equipment | 23 | €76,068 | €74,035 | -€2,033 | -2.7% |
| Furniture and vehicles | 24 | €125,271 | €83,435 | -€41,836 | -33.4% |
| Current assets | 29/58 | €960,754 | €1,110,137 | +€149,383 | +15.5% |
| Stocks and contracts in progress | 3 | €143,338 | €102,337 | -€41,001 | -28.6% |
| Stocks | 30/36 | €143,338 | €102,337 | -€41,001 | -28.6% |
| Amounts receivable within one year | 40/41 | €310,762 | €322,388 | +€11,626 | +3.7% |
| Trade receivables | 40 | €310,762 | €322,388 | +€11,626 | +3.7% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €11,812 | €11,812 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €494,843 | €673,601 | +€178,758 | +36.1% |
| Total equity and liabilities | 10/49 | €1,431,171 | €1,518,483 | +€87,311 | +6.1% |
| Equity | 10/15 | €344,443 | €507,489 | +€163,046 | +47.3% |
| Contributions | 10/11 | €104,000 | €104,000 | = | 0.0% |
| Contributions outside capital | 11 | €104,000 | €104,000 | = | 0.0% |
| Other | 1109/19 | €104,000 | €104,000 | = | 0.0% |
| Reserves | 13 | €306,052 | €469,098 | +€163,046 | +53.3% |
| Non-distributable reserves | 130/1 | €9,916 | €9,916 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,916 | €9,916 | = | 0.0% |
| Tax-exempt reserves | 132 | €23,484 | €23,484 | = | 0.0% |
| Distributable reserves | 133 | €272,653 | €435,699 | +€163,046 | +59.8% |
| Profit (loss) carried forward | 14 | -€65,610 | -€65,610 | = | 0.0% |
| Amounts payable | 17/49 | €1,086,729 | €1,010,994 | -€75,735 | -7.0% |
| Amounts payable after more than one year | 17 | €115,352 | €43,709 | -€71,643 | -62.1% |
| Financial debts | 170/4 | €115,352 | €43,709 | -€71,643 | -62.1% |
| Amounts payable within one year | 42/48 | €971,377 | €967,285 | -€4,092 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €86,710 | €71,643 | -€15,067 | -17.4% |
| Trade debts | 44 | €52,288 | €69,203 | +€16,915 | +32.4% |
| Suppliers | 440/4 | €52,288 | €69,203 | +€16,915 | +32.4% |
| Taxes, remuneration and social security | 45 | €139,797 | €134,177 | -€5,620 | -4.0% |
| Taxes | 450/3 | €16,897 | €51,029 | +€34,132 | +202% |
| Remuneration and social security | 454/9 | €122,899 | €83,148 | -€39,751 | -32.3% |
| Other amounts payable | 47/48 | €692,582 | €692,262 | -€320 | 0.0% |
| Turnover | 70 | €1,773,039 | - | -€1.8m | |
| Goods, raw materials, services and sundry goods | 60/61 | €1,196,373 | €1,358,239 | +€161,867 | +13.5% |
| Remuneration, social security and pensions | 62 | €356,617 | €353,600 | -€3,017 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,405 | €77,925 | +€3,520 | +4.7% |
| Other operating charges | 640/8 | €43,483 | €22,556 | -€20,927 | -48.1% |
| Gross operating margin | 9900 | €552,500 | €693,596 | +€141,096 | +25.5% |
| Operating profit (loss) | 9901 | €77,995 | €239,514 | +€161,519 | +207% |
| Financial income | 75/76B | €13,877 | €15,585 | +€1,708 | +12.3% |
| Recurring financial income | 75 | €13,877 | €15,585 | +€1,708 | +12.3% |
| Financial charges | 65/66B | €14,037 | €11,618 | -€2,419 | -17.2% |
| Recurring financial charges | 65 | €14,037 | €11,618 | -€2,419 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | €77,835 | €243,481 | +€165,646 | +213% |
| Income taxes | 67/77 | €22,015 | €80,435 | +€58,420 | +265% |
| Profit (loss) for the period | 9904 | €55,820 | €163,046 | +€107,226 | +192% |
| Profit (loss) for the period to be appropriated | 9905 | €55,820 | €163,046 | +€107,226 | +192% |
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 24 October 2026 via checked.be.