LOGENAM: 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.
What changed
LOGENAM
NACE 68.202, Real estate activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.2m
2024 · €978,591+€247,399
Equity
€39.0m
2024 · €39.5m-€467,757
Cash
€9.2m
2024 · €9.8m-€604,991
Balance sheet total
€78.0m
2024 · €74.5m+€3.5m
Largest movements
Assets
- Tangible fixed assets +€8.3m
up €8.3m (+18.0%), from €46.1m to €54.5m
of which Assets under construction and advance payments: +€5.0m
- Receivables within one year -€3.2m
down €3.2m (-26.3%), from €12.1m to €8.9m
of which Other amounts receivable: -€3.3m
- Receivables after one year -€1.1m
down €1.1m (-18.6%), from €5.7m to €4.6m
Equity and liabilities
- Short-term financial debts +€4.2m
up €4.2m (+161%), from €2.6m to €6.9m
- Investment grants -€1.7m
down €1.7m (-5.1%), from €32.9m to €31.2m
- Debts after one year -€1.7m
down €1.7m (-7.3%), from €22.8m to €21.1m
of which Financial debts: -€1.7m
- Profit (loss) carried forward +€1.1m
up €1.1m (+34.6%), from €3.2m to €4.3m
- Other debts +€966,767
up €966,767 (+148%), from €654,379 to €1.6m
Income statement
- Turnover +€289,228
up €289,228 (+4.2%), from €6.8m to €7.1m
- Services and other goods +€264,667
up €264,667 (+12.8%), from €2.1m to €2.3m
- Depreciation +€164,432
up €164,432 (+12.5%), from €1.3m to €1.5m
- Goods and materials +€84,183
up €84,183 (+49.2%), from €171,276 to €255,459
of which Change in stocks: decrease (increase): +€86,486
- Write-downs +€82,452
up €82,452 (+351%), from €23,513 to €105,965
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.
Result 2024
€978,591
Turnover
+€289,228
Other operating income
-€71,282
Goods and materials
-€84,183
Services and other goods
-€264,667
Staff costs
+€33,950
Depreciation
-€164,432
Write-downs
-€82,452
Provisions
+€45,119
Other operating charges
-€3,364
Other operating items
+€577,933
Financial income
-€65,347
Financial charges
+€40,067
Taxes
+€587
Deferred taxes and other
-€3,759
Result 2025
€1.2m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€8.2m
Investment
-€9.8m
Financing
+€983,868
Cash 2024
€9.8m
From operations (derived)
+€8.2m
Net result for the year
+€1.2m
Depreciation
+€1.5m
Receivables after one year
+€1.1m
Stocks and contracts
-€24,632
Receivables within one year
+€3.2m
Deferred charges and accrued income
+€32,883
Provisions
+€94,631
Trade debts
-€64,919
Tax, wage and social debts
-€54,733
Other debts
+€966,767
Accrued charges and deferred income
+€316,645
Investment (derived)
-€9.8m
Investment in fixed assets (net)
-€9.8m
Financing
+€983,868
Debts after one year
-€1.7m
Current portion of long-term debt
+€101,369
Short-term financial debts
+€4.2m
Contributions, distributions and other
-€1.7m
Cash 2025
€9.2m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €74,544,147 | €78,012,397 | +€3.5m | +4.7% |
| Fixed assets | 21/28 | €46,149,219 | €54,465,958 | +€8.3m | +18.0% |
| Tangible fixed assets | 22/27 | €46,146,408 | €54,463,057 | +€8.3m | +18.0% |
| Land and buildings | 22 | €41,797,745 | €45,104,131 | +€3.3m | +7.9% |
| Plant, machinery and equipment | 23 | €18,125 | €14,891 | -€3,234 | -17.8% |
| Furniture and vehicles | 24 | €127,100 | €90,705 | -€36,396 | -28.6% |
| Other tangible fixed assets | 26 | - | €0 | = | |
| Assets under construction and advance payments | 27 | €4,203,438 | €9,253,330 | +€5.0m | +120% |
| Financial fixed assets | 28 | €2,811 | €2,902 | +€90 | +3.2% |
| Other financial fixed assets | 284/8 | €2,811 | €2,902 | +€90 | +3.2% |
| Shares | 284 | €2,479 | €2,479 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €332 | €423 | +€90 | +27.1% |
| Current assets | 29/58 | €28,394,927 | €23,546,438 | -€4.8m | -17.1% |
| Amounts receivable after more than one year | 29 | €5,668,964 | €4,612,830 | -€1.1m | -18.6% |
| Other amounts receivable | 291 | €5,668,964 | €4,612,830 | -€1.1m | -18.6% |
| Stocks and contracts in progress | 3 | €338,096 | €362,728 | +€24,632 | +7.3% |
| Stocks | 30/36 | €338,096 | €362,728 | +€24,632 | +7.3% |
| Raw materials and consumables | 30/31 | €338,096 | €362,728 | +€24,632 | +7.3% |
| Amounts receivable within one year | 40/41 | €12,082,639 | €8,903,527 | -€3.2m | -26.3% |
| Trade receivables | 40 | €607,898 | €717,371 | +€109,473 | +18.0% |
| Other amounts receivable | 41 | €11,474,741 | €8,186,156 | -€3.3m | -28.7% |
| Cash at bank and in hand | 54/58 | €9,803,011 | €9,198,020 | -€604,991 | -6.2% |
| Deferred charges and accrued income | 490/1 | €502,217 | €469,334 | -€32,883 | -6.5% |
| Total equity and liabilities | 10/49 | €74,544,147 | €78,012,397 | +€3.5m | +4.7% |
| Equity | 10/15 | €39,463,123 | €38,995,365 | -€467,757 | -1.2% |
| Contributions | 10/11 | €24,536 | €24,536 | = | 0.0% |
| Reserves | 13 | €3,318,813 | €3,440,952 | +€122,139 | +3.7% |
| Non-distributable reserves | 130/1 | €1,244,803 | €1,244,803 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,242 | €4,242 | = | 0.0% |
| Other | 1319 | €1,240,561 | €1,240,561 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,074,010 | €2,196,149 | +€122,139 | +5.9% |
| Profit (loss) carried forward | 14 | €3,189,504 | €4,293,356 | +€1.1m | +34.6% |
| Investment grants | 15 | €32,930,269 | €31,236,522 | -€1.7m | -5.1% |
| Provisions and deferred taxes | 16 | €2,980,783 | €3,075,414 | +€94,631 | +3.2% |
| Provisions for liabilities and charges | 160/5 | €1,146,633 | €1,327,971 | +€181,338 | +15.8% |
| Major repairs and maintenance | 162 | €867,751 | €982,089 | +€114,338 | +13.2% |
| Other liabilities and charges | 164/5 | €278,882 | €345,882 | +€67,000 | +24.0% |
| Deferred taxes | 168 | €1,834,150 | €1,747,443 | -€86,707 | -4.7% |
| Amounts payable | 17/49 | €32,100,241 | €35,941,617 | +€3.8m | +12.0% |
| Amounts payable after more than one year | 17 | €22,780,572 | €21,123,566 | -€1.7m | -7.3% |
| Financial debts | 170/4 | €22,779,267 | €21,122,261 | -€1.7m | -7.3% |
| Credit institutions | 173 | €22,484,520 | €20,855,786 | -€1.6m | -7.2% |
| Other loans | 174 | €294,747 | €266,475 | -€28,271 | -9.6% |
| Other amounts payable | 178/9 | €1,305 | €1,305 | = | 0.0% |
| Amounts payable within one year | 42/48 | €9,101,860 | €14,283,597 | +€5.2m | +56.9% |
| Current portion of amounts payable after more than one year | 42 | €2,206,231 | €2,307,601 | +€101,369 | +4.6% |
| Financial debts | 43 | €2,627,969 | €6,861,222 | +€4.2m | +161% |
| Credit institutions | 430/8 | €2,627,969 | €6,861,222 | +€4.2m | +161% |
| Trade debts | 44 | €3,371,836 | €3,306,917 | -€64,919 | -1.9% |
| Suppliers | 440/4 | €3,371,836 | €3,306,917 | -€64,919 | -1.9% |
| Taxes, remuneration and social security | 45 | €241,444 | €186,711 | -€54,733 | -22.7% |
| Taxes | 450/3 | €22,019 | €18,224 | -€3,795 | -17.2% |
| Remuneration and social security | 454/9 | €219,425 | €168,487 | -€50,938 | -23.2% |
| Other amounts payable | 47/48 | €654,379 | €1,621,146 | +€966,767 | +148% |
| Accrued charges and deferred income | 492/3 | €217,809 | €534,454 | +€316,645 | +145% |
| Operating income | 70/76A | €7,236,685 | €8,068,221 | +€831,537 | +11.5% |
| Turnover | 70 | €6,813,836 | €7,103,064 | +€289,228 | +4.2% |
| Own construction capitalised | 72 | - | €14,452 | +€14,452 | |
| Other operating income | 74 | €419,147 | €347,865 | -€71,282 | -17.0% |
| Non-recurring operating income | 76A | €3,701 | €602,840 | +€599,139 | +16,187% |
| Operating charges | 60/66A | €6,452,127 | €7,007,813 | +€555,686 | +8.6% |
| Goods for resale, raw materials and consumables | 60 | €171,276 | €255,459 | +€84,183 | +49.2% |
| Purchases | 600/8 | €282,394 | €280,091 | -€2,303 | -0.8% |
| Change in stocks: decrease (increase) | 609 | -€111,118 | -€24,632 | +€86,486 | +77.8% |
| Services and other goods | 61 | €2,065,144 | €2,329,810 | +€264,667 | +12.8% |
| Remuneration, social security and pensions | 62 | €1,795,497 | €1,761,547 | -€33,950 | -1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,315,856 | €1,480,288 | +€164,432 | +12.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €23,513 | €105,965 | +€82,452 | +351% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €226,457 | €181,338 | -€45,119 | -19.9% |
| Other operating charges | 640/8 | €723,834 | €727,197 | +€3,364 | +0.5% |
| Non-recurring operating charges | 66A | €130,550 | €166,208 | +€35,658 | +27.3% |
| Operating profit (loss) | 9901 | €784,558 | €1,060,408 | +€275,850 | +35.2% |
| Financial income | 75/76B | €985,864 | €920,517 | -€65,347 | -6.6% |
| Recurring financial income | 75 | €921,676 | €920,517 | -€1,159 | -0.1% |
| Income from current assets | 751 | €39,777 | €33,621 | -€6,156 | -15.5% |
| Other financial income | 752/9 | €881,899 | €886,897 | +€4,997 | +0.6% |
| Non-recurring financial income | 76B | €64,188 | - | -€64,188 | |
| Financial charges | 65/66B | €765,310 | €725,244 | -€40,067 | -5.2% |
| Recurring financial charges | 65 | €765,310 | €725,244 | -€40,067 | -5.2% |
| Debt charges | 650 | €764,974 | €725,219 | -€39,755 | -5.2% |
| Other financial charges | 652/9 | €336 | €25 | -€311 | -92.5% |
| Profit (loss) for the period before taxes | 9903 | €1,005,111 | €1,255,681 | +€250,570 | +24.9% |
| Transfer from deferred taxes | 780 | €31,129 | €35,386 | +€4,257 | +13.7% |
| Transfer to deferred taxes | 680 | - | €8,015 | +€8,015 | |
| Income taxes | 67/77 | €57,649 | €57,062 | -€587 | -1.0% |
| Taxes | 670/3 | €57,649 | €57,211 | -€438 | -0.8% |
| Tax adjustments and reversals of tax provisions | 77 | - | €149 | +€149 | |
| Profit (loss) for the period | 9904 | €978,591 | €1,225,990 | +€247,399 | +25.3% |
| Transfer from tax-exempt reserves | 789 | €30,153 | €30,153 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | - | €152,292 | +€152,292 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,008,744 | €1,103,851 | +€95,107 | +9.4% |
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 28 October 2026 via checked.be.