Brigitte LOWETTE: 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.
Brigitte LOWETTE
Largest movements
- Current investments +€60,805
up €60,805 (+27.6%), from €220,000 to €280,805
- Tangible fixed assets -€37,998
down €37,998 (-79.3%), from €47,923 to €9,925
of which Furniture and vehicles: -€19,666
- Cash -€23,778
down €23,778 (-43.7%), from €54,461 to €30,683
mainly Current investments (-€60,805) and Other debts (-€23,715)
- Receivables within one year +€10,918
up €10,918 (+70.1%), from €15,577 to €26,495
of which Trade receivables: +€13,860
- Reserves +€42,655
up €42,655 (+15.0%), from €284,228 to €326,884
of which Distributable reserves: +€42,655
- Other debts -€23,715
down €23,715 (-74.2%), from €31,973 to €8,258
- Current portion of long-term debt -€12,438
no longer reported in 2025 (was €12,438)
- Gross operating margin -€54,349
down €54,349 (-43.6%), from €124,707 to €70,358
- Depreciation -€14,915
down €14,915 (-57.8%), from €25,794 to €10,879
- Staff costs -€9,096
down €9,096 (-71.2%), from €12,773 to €3,677
- Financial income +€5,259
up €5,259 (+462.4%), from €1,137 to €6,396
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 | €337,962 | €347,908 | +€9,946 | +2.9% |
| Fixed assets | 21/28 | €47,923 | €9,925 | -€37,998 | -79.3% |
| Tangible fixed assets | 22/27 | €47,923 | €9,925 | -€37,998 | -79.3% |
| Plant, machinery and equipment | 23 | €18,332 | - | -€18,332 | |
| Furniture and vehicles | 24 | €29,591 | €9,925 | -€19,666 | -66.5% |
| Current assets | 29/58 | €290,038 | €337,983 | +€47,944 | +16.5% |
| Amounts receivable within one year | 40/41 | €15,577 | €26,495 | +€10,918 | +70.1% |
| Trade receivables | 40 | - | €13,860 | +€13,860 | |
| Other amounts receivable | 41 | €15,577 | €12,635 | -€2,942 | -18.9% |
| Current investments | 50/53 | €220,000 | €280,805 | +€60,805 | +27.6% |
| Cash at bank and in hand | 54/58 | €54,461 | €30,683 | -€23,778 | -43.7% |
| Total equity and liabilities | 10/49 | €337,962 | €347,908 | +€9,946 | +2.9% |
| Equity | 10/15 | €290,552 | €333,208 | +€42,655 | +14.7% |
| Contributions | 10/11 | €6,324 | €6,324 | = | 0.0% |
| Outside capital | 11 | €6,324 | €6,324 | = | 0.0% |
| Other | 1109/19 | €6,324 | €6,324 | = | 0.0% |
| Reserves | 13 | €284,228 | €326,884 | +€42,655 | +15.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €282,368 | €325,024 | +€42,655 | +15.1% |
| Amounts payable | 17/49 | €47,409 | €14,700 | -€32,709 | -69.0% |
| Amounts payable within one year | 42/48 | €47,409 | €14,700 | -€32,709 | -69.0% |
| Current portion of amounts payable after more than one year | 42 | €12,438 | - | -€12,438 | |
| Trade debts | 44 | €2,999 | €6,443 | +€3,444 | +114.9% |
| Suppliers | 440/4 | €2,999 | €6,443 | +€3,444 | +114.9% |
| Other amounts payable | 47/48 | €31,973 | €8,258 | -€23,715 | -74.2% |
| Remuneration, social security and pensions | 62 | €12,773 | €3,677 | -€9,096 | -71.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,794 | €10,879 | -€14,915 | -57.8% |
| Other operating charges | 640/8 | €632 | €865 | +€232 | +36.8% |
| Gross operating margin | 9900 | €124,707 | €70,358 | -€54,349 | -43.6% |
| Operating profit (loss) | 9901 | €85,508 | €54,938 | -€30,570 | -35.8% |
| Financial income | 75/76B | €1,137 | €6,396 | +€5,259 | +462.4% |
| Recurring financial income | 75 | €1,137 | €6,396 | +€5,259 | +462.4% |
| Financial charges | 65/66B | €166 | €127 | -€39 | -23.5% |
| Recurring financial charges | 65 | €166 | €127 | -€39 | -23.5% |
| Profit (loss) for the period before taxes | 9903 | €86,480 | €61,207 | -€25,272 | -29.2% |
| Income taxes | 67/77 | €18,649 | €18,552 | -€97 | -0.5% |
| Profit (loss) for the period | 9904 | €67,830 | €42,655 | -€25,175 | -37.1% |
| Profit (loss) for the period to be appropriated | 9905 | €67,830 | €42,655 | -€25,175 | -37.1% |
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 5 October 2026 via checked.be.