LOGOS: what changed
LOGOS
Largest movements
- Receivables within one year -€25,599
down €25,599 (-35.4%), from €72,351 to €46,752
of which Other amounts receivable: -€28,080
- Cash -€16,675
no longer reported in 2025 (was €16,675)
mainly Contributions, distributions and other (-€62,008) and Investment in fixed assets (net) (-€14,687)
- Deferred charges and accrued income +€5,089
up €5,089 (+553%), from €920 to €6,009
- Tangible fixed assets +€4,053
up €4,053 (+9.9%), from €40,838 to €44,891
of which Furniture and vehicles: +€7,764
- Reserves -€62,008
down €62,008 (-52.2%), from €118,891 to €56,883
- Trade debts +€20,555
up €20,555 (+659%), from €3,117 to €23,673
- Profit (loss) carried forward +€12,417
up €12,417 (+52.1%), from -€23,817 to -€11,400
- Other debts +€9,306
new in 2025: €9,306
- Short-term financial debts -€7,717
down €7,717 (-100.0%), from €7,719 to €1
- Gross operating margin +€22,131
up €22,131 (+364%), from €6,081 to €28,212
- Taxes +€4,281
up €4,281 (+1,728%), from €248 to €4,529
- Financial income -€4,186
down €4,186 (-88.3%), from €4,739 to €553
- Depreciation -€1,277
down €1,277 (-10.7%), from €11,911 to €10,634
- Financial charges -€603
down €603 (-49.0%), from €1,231 to €627
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €132,484 | €99,352 | -€33,132 | -25.0% |
| Fixed assets | 21/28 | €42,538 | €46,591 | +€4,053 | +9.5% |
| Tangible fixed assets | 22/27 | €40,838 | €44,891 | +€4,053 | +9.9% |
| Land and buildings | 22 | €9,908 | €6,197 | -€3,711 | -37.5% |
| Furniture and vehicles | 24 | €30,930 | €38,693 | +€7,764 | +25.1% |
| Financial fixed assets | 28 | €1,700 | €1,700 | = | 0.0% |
| Current assets | 29/58 | €89,946 | €52,761 | -€37,185 | -41.3% |
| Amounts receivable within one year | 40/41 | €72,351 | €46,752 | -€25,599 | -35.4% |
| Trade receivables | 40 | €34,749 | €37,230 | +€2,481 | +7.1% |
| Other amounts receivable | 41 | €37,602 | €9,522 | -€28,080 | -74.7% |
| Cash at bank and in hand | 54/58 | €16,675 | - | -€16,675 | |
| Deferred charges and accrued income | 490/1 | €920 | €6,009 | +€5,089 | +553% |
| Total equity and liabilities | 10/49 | €132,484 | €99,352 | -€33,132 | -25.0% |
| Equity | 10/15 | €113,673 | €64,082 | -€49,591 | -43.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €118,891 | €56,883 | -€62,008 | -52.2% |
| Distributable reserves | 133 | €118,891 | €56,883 | -€62,008 | -52.2% |
| Profit (loss) carried forward | 14 | -€23,817 | -€11,400 | +€12,417 | +52.1% |
| Amounts payable | 17/49 | €18,811 | €35,270 | +€16,459 | +87.5% |
| Amounts payable within one year | 42/48 | €17,678 | €34,278 | +€16,600 | +93.9% |
| Financial debts | 43 | €7,719 | €1 | -€7,717 | -100.0% |
| Credit institutions | 430/8 | €7,719 | €1 | -€7,717 | -100.0% |
| Trade debts | 44 | €3,117 | €23,673 | +€20,555 | +659% |
| Suppliers | 440/4 | €3,117 | €23,673 | +€20,555 | +659% |
| Taxes, remuneration and social security | 45 | €6,841 | €1,297 | -€5,544 | -81.0% |
| Taxes | 450/3 | €6,841 | €797 | -€6,044 | -88.3% |
| Remuneration and social security | 454/9 | - | €500 | +€500 | |
| Other amounts payable | 47/48 | - | €9,306 | +€9,306 | |
| Accrued charges and deferred income | 492/3 | €1,133 | €992 | -€141 | -12.5% |
| Non-recurring operating income | 76A | - | €262 | +€262 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,911 | €10,634 | -€1,277 | -10.7% |
| Other operating charges | 640/8 | €542 | €558 | +€16 | +3.0% |
| Gross operating margin | 9900 | €6,081 | €28,212 | +€22,131 | +364% |
| Operating profit (loss) | 9901 | -€6,372 | €17,020 | +€23,392 | |
| Financial income | 75/76B | €4,739 | €553 | -€4,186 | -88.3% |
| Recurring financial income | 75 | €4,739 | €553 | -€4,186 | -88.3% |
| Financial charges | 65/66B | €1,231 | €627 | -€603 | -49.0% |
| Recurring financial charges | 65 | €1,231 | €627 | -€603 | -49.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,864 | €16,946 | +€19,810 | |
| Income taxes | 67/77 | €248 | €4,529 | +€4,281 | +1,728% |
| Profit (loss) for the period | 9904 | -€3,112 | €12,417 | +€15,529 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,112 | €12,417 | +€15,529 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.