Loterman: 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.
Loterman
Largest movements
- Receivables within one year -€33,753
down €33,753 (-65.9%), from €51,210 to €17,457
of which Trade receivables: -€33,785
- Tangible fixed assets -€6,263
down €6,263 (-2.2%), from €281,327 to €275,064
of which Land and buildings: -€13,213
- Intangible fixed assets -€5,845
down €5,845 (-100.0%), from €5,845 to €0
- Debts after one year -€39,126
down €39,126 (-22.0%), from €177,683 to €138,556
- Trade debts +€6,486
up €6,486 (+15.7%), from €41,261 to €47,747
- Tax, wage and social debts -€6,027
down €6,027 (-30.6%), from €19,706 to €13,679
of which Taxes: -€6,083
- Other debts -€5,474
down €5,474 (-27.0%), from €20,278 to €14,804
- Gross operating margin -€33,087
down €33,087 (-53.4%), from €61,950 to €28,863
- Depreciation -€19,279
down €19,279 (-55.5%), from €34,761 to €15,482
- Other operating charges +€10,052
up €10,052 (+730.3%), from €1,376 to €11,428
- Taxes -€4,690
down €4,690 (-97.1%), from €4,831 to €141
- Financial charges -€742
down €742 (-14.7%), from €5,048 to €4,305
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 | €393,511 | €347,654 | -€45,857 | -11.7% |
| Fixed assets | 21/28 | €287,172 | €275,064 | -€12,108 | -4.2% |
| Intangible fixed assets | 21 | €5,845 | €0 | -€5,845 | -100.0% |
| Tangible fixed assets | 22/27 | €281,327 | €275,064 | -€6,263 | -2.2% |
| Land and buildings | 22 | €131,586 | €118,373 | -€13,213 | -10.0% |
| Plant, machinery and equipment | 23 | €149,714 | €156,691 | +€6,977 | +4.7% |
| Furniture and vehicles | 24 | €27 | €0 | -€27 | -100.0% |
| Current assets | 29/58 | €106,339 | €72,589 | -€33,750 | -31.7% |
| Stocks and contracts in progress | 3 | €41,753 | €39,823 | -€1,930 | -4.6% |
| Stocks | 30/36 | €39,753 | €37,823 | -€1,930 | -4.9% |
| Contracts in progress | 37 | €2,000 | €2,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €51,210 | €17,457 | -€33,753 | -65.9% |
| Trade receivables | 40 | €48,134 | €14,349 | -€33,785 | -70.2% |
| Other amounts receivable | 41 | €3,077 | €3,108 | +€31 | +1.0% |
| Cash at bank and in hand | 54/58 | €11,403 | €13,472 | +€2,069 | +18.1% |
| Deferred charges and accrued income | 490/1 | €1,973 | €1,837 | -€135 | -6.9% |
| Total equity and liabilities | 10/49 | €393,511 | €347,654 | -€45,857 | -11.7% |
| Equity | 10/15 | €96,203 | €93,741 | -€2,463 | -2.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €76,203 | €73,741 | -€2,463 | -3.2% |
| Distributable reserves | 133 | €76,203 | €73,741 | -€2,463 | -3.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €297,308 | €253,913 | -€43,395 | -14.6% |
| Amounts payable after more than one year | 17 | €177,683 | €138,556 | -€39,126 | -22.0% |
| Financial debts | 170/4 | €177,683 | €138,556 | -€39,126 | -22.0% |
| Amounts payable within one year | 42/48 | €119,625 | €115,357 | -€4,268 | -3.6% |
| Current portion of amounts payable after more than one year | 42 | €38,380 | €39,126 | +€746 | +1.9% |
| Trade debts | 44 | €41,261 | €47,747 | +€6,486 | +15.7% |
| Suppliers | 440/4 | €41,261 | €47,747 | +€6,486 | +15.7% |
| Taxes, remuneration and social security | 45 | €19,706 | €13,679 | -€6,027 | -30.6% |
| Taxes | 450/3 | €11,055 | €4,972 | -€6,083 | -55.0% |
| Remuneration and social security | 454/9 | €8,651 | €8,707 | +€57 | +0.7% |
| Other amounts payable | 47/48 | €20,278 | €14,804 | -€5,474 | -27.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,761 | €15,482 | -€19,279 | -55.5% |
| Other operating charges | 640/8 | €1,376 | €11,428 | +€10,052 | +730.3% |
| Gross operating margin | 9900 | €61,950 | €28,863 | -€33,087 | -53.4% |
| Operating profit (loss) | 9901 | €25,813 | €1,953 | -€23,860 | -92.4% |
| Financial income | 75/76B | €752 | €31 | -€721 | -95.9% |
| Recurring financial income | 75 | €752 | €31 | -€721 | -95.9% |
| Financial charges | 65/66B | €5,048 | €4,305 | -€742 | -14.7% |
| Recurring financial charges | 65 | €5,048 | €4,305 | -€742 | -14.7% |
| Profit (loss) for the period before taxes | 9903 | €21,517 | -€2,322 | -€23,839 | |
| Income taxes | 67/77 | €4,831 | €141 | -€4,690 | -97.1% |
| Profit (loss) for the period | 9904 | €16,686 | -€2,463 | -€19,148 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,686 | -€2,463 | -€19,148 |
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 6 October 2026 via checked.be.