J. LOUWETTE: what changed
What changed
J. LOUWETTE
filed annual accounts (NBB)
Net result for the year
€355,673
2024 · -€56,510+€412,183
Equity
€1.1m
2024 · €1.0m+€68,573
Cash
€396,473
2024 · -+€396,473
Balance sheet total
€1.7m
2024 · €1.9m-€198,004
Largest movements
Assets
- Tangible fixed assets -€603,302
down €603,302 (-32.6%), from €1.9m to €1.2m
of which Land and buildings: -€567,182
- Cash +€396,473
new in 2025: €396,473
mainly Investment in fixed assets (net) (+€526,978) and Net result for the year (+€355,673)
Equity and liabilities
- Provisions -€125,735
no longer reported in 2025 (was €125,735)
- Profit (loss) carried forward +€121,465
no longer reported in 2025 (was -€121,465)
- Debts after one year -€112,516
no longer reported in 2025 (was €112,516)
- Reserves -€52,892
down €52,892 (-4.7%), from €1.1m to €1.1m
of which Non-distributable reserves: -€385,018
- Current portion of long-term debt -€51,838
no longer reported in 2025 (was €51,838)
Income statement
- Gross operating margin +€631,018
up €631,018 (+3,016%), from €20,923 to €651,941
- Taxes +€296,013
up €296,013 (+47,670%), from €621 to €296,634
- Depreciation -€64,948
down €64,948 (-45.9%), from €141,597 to €76,649
- Financial charges +€34,702
up €34,702 (+567%), from €6,119 to €40,821
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.
Result 2024
-€56,510
Gross operating margin
+€631,018
Depreciation
+€64,948
Other operating charges
-€531
Other operating items
-€325
Financial income
-€1
Financial charges
-€34,702
Taxes
-€296,013
Deferred taxes and other
+€47,790
Result 2025
€355,673
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€343,980
Investment
+€526,978
Financing
-€474,485
Cash 2024
€0
From operations (derived)
+€343,980
Net result for the year
+€355,673
Depreciation
+€76,649
Receivables within one year
-€10,321
Smaller working-capital items
+€249
Provisions
-€125,735
Tax, wage and social debts
+€32,229
Other debts
-€19,859
Accrued charges and deferred income
+€35,096
Investment (derived)
+€526,978
Investment in fixed assets (net)
+€526,978
Financing
-€474,485
Debts after one year
-€112,516
Current portion of long-term debt
-€51,838
Short-term financial debts
-€23,031
Contributions, distributions and other
-€287,100
Cash 2025
€396,473
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,852,728 | €1,654,724 | -€198,004 | -10.7% |
| Fixed assets | 21/28 | €1,850,744 | €1,247,117 | -€603,627 | -32.6% |
| Tangible fixed assets | 22/27 | €1,850,419 | €1,247,117 | -€603,302 | -32.6% |
| Land and buildings | 22 | €1,707,523 | €1,140,341 | -€567,182 | -33.2% |
| Plant, machinery and equipment | 23 | €993 | €705 | -€288 | -29.0% |
| Furniture and vehicles | 24 | €141,903 | €106,071 | -€35,832 | -25.3% |
| Financial fixed assets | 28 | €325 | - | -€325 | |
| Current assets | 29/58 | €1,984 | €407,607 | +€405,623 | +20,441% |
| Amounts receivable within one year | 40/41 | - | €10,321 | +€10,321 | |
| Trade receivables | 40 | - | €7,821 | +€7,821 | |
| Other amounts receivable | 41 | - | €2,500 | +€2,500 | |
| Cash at bank and in hand | 54/58 | - | €396,473 | +€396,473 | |
| Deferred charges and accrued income | 490/1 | €1,984 | €814 | -€1,171 | -59.0% |
| Total equity and liabilities | 10/49 | €1,852,728 | €1,654,724 | -€198,004 | -10.7% |
| Equity | 10/15 | €1,028,586 | €1,097,159 | +€68,573 | +6.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,131,451 | €1,078,559 | -€52,892 | -4.7% |
| Non-distributable reserves | 130/1 | €385,018 | - | -€385,018 | |
| Other | 1319 | €385,018 | - | -€385,018 | |
| Tax-exempt reserves | 132 | €432,800 | €51,589 | -€381,212 | -88.1% |
| Distributable reserves | 133 | €313,633 | €1,026,970 | +€713,337 | +227% |
| Profit (loss) carried forward | 14 | -€121,465 | - | +€121,465 | |
| Provisions and deferred taxes | 16 | €125,735 | - | -€125,735 | |
| Deferred taxes | 168 | €125,735 | - | -€125,735 | |
| Amounts payable | 17/49 | €698,407 | €557,565 | -€140,842 | -20.2% |
| Amounts payable after more than one year | 17 | €112,516 | - | -€112,516 | |
| Financial debts | 170/4 | €112,516 | - | -€112,516 | |
| Amounts payable within one year | 42/48 | €585,891 | €522,470 | -€63,421 | -10.8% |
| Current portion of amounts payable after more than one year | 42 | €51,838 | - | -€51,838 | |
| Financial debts | 43 | €23,031 | - | -€23,031 | |
| Credit institutions | 430/8 | €23,031 | - | -€23,031 | |
| Trade debts | 44 | €4,772 | €3,850 | -€922 | -19.3% |
| Suppliers | 440/4 | €4,772 | €3,850 | -€922 | -19.3% |
| Taxes, remuneration and social security | 45 | €621 | €32,850 | +€32,229 | +5,190% |
| Taxes | 450/3 | €621 | €32,850 | +€32,229 | +5,190% |
| Other amounts payable | 47/48 | €505,629 | €485,770 | -€19,859 | -3.9% |
| Accrued charges and deferred income | 492/3 | - | €35,096 | +€35,096 | |
| Non-recurring operating income | 76A | €42,500 | €684,347 | +€641,847 | +1,510% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €141,597 | €76,649 | -€64,948 | -45.9% |
| Other operating charges | 640/8 | €7,045 | €7,575 | +€531 | +7.5% |
| Non-recurring operating charges | 66A | - | €325 | +€325 | |
| Gross operating margin | 9900 | €20,923 | €651,941 | +€631,018 | +3,016% |
| Operating profit (loss) | 9901 | -€127,718 | €567,392 | +€695,110 | |
| Financial income | 75/76B | €2 | €1 | -€1 | -70.8% |
| Recurring financial income | 75 | €2 | €1 | -€1 | -70.8% |
| Financial charges | 65/66B | €6,119 | €40,821 | +€34,702 | +567% |
| Recurring financial charges | 65 | €6,119 | €40,821 | +€34,702 | +567% |
| Profit (loss) for the period before taxes | 9903 | -€133,835 | €526,571 | +€660,407 | |
| Transfer from deferred taxes | 780 | €77,946 | €125,735 | +€47,790 | +61.3% |
| Income taxes | 67/77 | €621 | €296,634 | +€296,013 | +47,670% |
| Profit (loss) for the period | 9904 | -€56,510 | €355,673 | +€412,183 | |
| Transfer from tax-exempt reserves | 789 | €362,499 | €381,212 | +€18,712 | +5.2% |
| Profit (loss) for the period to be appropriated | 9905 | €305,989 | €736,884 | +€430,896 | +141% |
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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 4 November 2026 via checked.be.