LoT: 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.
LoT
Largest movements
- Tangible fixed assets +€434,618
up €434,618 (+4.3%), from €10.2m to €10.6m
of which Plant, machinery and equipment: +€655,489
- Receivables within one year -€339,866
down €339,866 (-29.5%), from €1.2m to €811,000
of which Other amounts receivable: -€477,414
- Cash -€191,496
down €191,496 (-87.7%), from €218,462 to €26,966
mainly Investment in fixed assets (net) (-€1.0m) and Net result for the year (-€932,753)
- Profit (loss) carried forward -€932,753
down €932,753 (-57.1%), from -€1.6m to -€2.6m
- Other debts +€406,129
up €406,129 (+41.3%), from €982,953 to €1.4m
- Debts after one year +€396,268
up €396,268 (+5.0%), from €7.9m to €8.3m
of which Financial debts: +€317,518
- Accrued charges and deferred income +€205,462
up €205,462 (+1,072%), from €19,161 to €224,623
- Trade debts -€137,365
down €137,365 (-39.1%), from €351,453 to €214,088
- Depreciation +€424,407
up €424,407 (+227%), from €187,159 to €611,566
- Gross operating margin +€348,515
up €348,515 (+87.2%), from -€399,702 to -€51,187
- Financial income +€177,690
up €177,690 (+235%), from €75,606 to €253,295
- Staff costs +€101,156
up €101,156 (+118%), from €85,785 to €186,941
- Financial charges -€61,713
down €61,713 (-14.2%), from €435,648 to €373,935
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 | €11,523,747 | €11,433,572 | -€90,175 | -0.8% |
| Fixed assets | 21/28 | €10,154,009 | €10,588,627 | +€434,618 | +4.3% |
| Tangible fixed assets | 22/27 | €10,154,009 | €10,588,627 | +€434,618 | +4.3% |
| Land and buildings | 22 | €5,936,000 | €5,744,000 | -€192,000 | -3.2% |
| Plant, machinery and equipment | 23 | €3,740,745 | €4,396,233 | +€655,489 | +17.5% |
| Furniture and vehicles | 24 | €462,619 | €397,032 | -€65,587 | -14.2% |
| Other tangible fixed assets | 26 | €14,645 | €51,361 | +€36,716 | +251% |
| Current assets | 29/58 | €1,369,738 | €844,945 | -€524,793 | -38.3% |
| Amounts receivable within one year | 40/41 | €1,150,866 | €811,000 | -€339,866 | -29.5% |
| Trade receivables | 40 | €41,115 | €178,663 | +€137,548 | +335% |
| Other amounts receivable | 41 | €1,109,751 | €632,337 | -€477,414 | -43.0% |
| Cash at bank and in hand | 54/58 | €218,462 | €26,966 | -€191,496 | -87.7% |
| Deferred charges and accrued income | 490/1 | €410 | €6,979 | +€6,569 | +1,601% |
| Total equity and liabilities | 10/49 | €11,523,747 | €11,433,572 | -€90,175 | -0.8% |
| Equity | 10/15 | €1,258,432 | €298,787 | -€959,645 | -76.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,633,136 | -€2,565,889 | -€932,753 | -57.1% |
| Investment grants | 15 | €2,873,018 | €2,846,126 | -€26,892 | -0.9% |
| Provisions and deferred taxes | 16 | €957,673 | €948,709 | -€8,964 | -0.9% |
| Deferred taxes | 168 | €957,673 | €948,709 | -€8,964 | -0.9% |
| Amounts payable | 17/49 | €9,307,642 | €10,186,076 | +€878,434 | +9.4% |
| Amounts payable after more than one year | 17 | €7,937,958 | €8,334,226 | +€396,268 | +5.0% |
| Financial debts | 170/4 | €7,937,958 | €8,255,476 | +€317,518 | +4.0% |
| Other amounts payable | 178/9 | - | €78,750 | +€78,750 | |
| Amounts payable within one year | 42/48 | €1,350,523 | €1,627,226 | +€276,703 | +20.5% |
| Trade debts | 44 | €351,453 | €214,088 | -€137,365 | -39.1% |
| Suppliers | 440/4 | €351,453 | €214,088 | -€137,365 | -39.1% |
| Taxes, remuneration and social security | 45 | €16,117 | €24,056 | +€7,939 | +49.3% |
| Taxes | 450/3 | €104 | €491 | +€387 | +374% |
| Remuneration and social security | 454/9 | €16,013 | €23,565 | +€7,552 | +47.2% |
| Other amounts payable | 47/48 | €982,953 | €1,389,082 | +€406,129 | +41.3% |
| Accrued charges and deferred income | 492/3 | €19,161 | €224,623 | +€205,462 | +1,072% |
| Remuneration, social security and pensions | 62 | €85,785 | €186,941 | +€101,156 | +118% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €187,159 | €611,566 | +€424,407 | +227% |
| Other operating charges | 640/8 | €351 | €46,336 | +€45,985 | +13,111% |
| Gross operating margin | 9900 | -€399,702 | -€51,187 | +€348,515 | +87.2% |
| Operating profit (loss) | 9901 | -€672,997 | -€896,030 | -€223,033 | -33.1% |
| Financial income | 75/76B | €75,606 | €253,295 | +€177,690 | +235% |
| Recurring financial income | 75 | €75,606 | €253,295 | +€177,690 | +235% |
| Financial charges | 65/66B | €435,648 | €373,935 | -€61,713 | -14.2% |
| Recurring financial charges | 65 | €435,648 | €373,935 | -€61,713 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | -€1,033,039 | -€1,016,669 | +€16,370 | +1.6% |
| Transfer from deferred taxes | 780 | €25,202 | €84,407 | +€59,206 | +235% |
| Income taxes | 67/77 | €104 | €491 | +€387 | +374% |
| Profit (loss) for the period | 9904 | -€1,007,941 | -€932,753 | +€75,188 | +7.5% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,007,941 | -€932,753 | +€75,188 | +7.5% |
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 14 October 2026 via checked.be.