LE LOUP: 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.
LE LOUP
Largest movements
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Tangible fixed assets +€67,530
up €67,530 (+858%), from €7,870 to €75,400
of which Furniture and vehicles: +€68,380
- Financial fixed assets -€30,000
no longer reported in 2025 (was €30,000)
- Receivables within one year -€14,562
no longer reported in 2025 (was €14,562)
- Cash +€4,909
up €4,909 (+18.8%), from €26,143 to €31,052
mainly Current investments (+€100,000) and Other debts (+€48,376)
- Reserves -€125,113
down €125,113 (-82.6%), from €151,478 to €26,365
of which Distributable reserves: -€125,113
- Other debts +€48,376
up €48,376 (+517%), from €9,361 to €57,737
- Tax, wage and social debts +€6,551
up €6,551 (+48.4%), from €13,548 to €20,099
of which Taxes: +€9,051
- Trade debts -€1,937
down €1,937 (-88.5%), from €2,187 to €251
- Depreciation +€17,866
up €17,866 (+454%), from €3,935 to €21,801
- Financial income +€10,395
up €10,395 (+429%), from €2,422 to €12,818
- Taxes +€8,973
up €8,973 (+77.6%), from €11,563 to €20,536
- Gross operating margin -€7,705
down €7,705 (-12.8%), from €60,112 to €52,406
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €178,574 | €106,451 | -€72,123 | -40.4% |
| Fixed assets | 21/28 | €37,870 | €75,400 | +€37,530 | +99.1% |
| Tangible fixed assets | 22/27 | €7,870 | €75,400 | +€67,530 | +858% |
| Plant, machinery and equipment | 23 | €1,700 | €850 | -€850 | -50.0% |
| Furniture and vehicles | 24 | €6,170 | €74,550 | +€68,380 | +1,108% |
| Financial fixed assets | 28 | €30,000 | - | -€30,000 | |
| Current assets | 29/58 | €140,704 | €31,052 | -€109,653 | -77.9% |
| Amounts receivable within one year | 40/41 | €14,562 | - | -€14,562 | |
| Trade receivables | 40 | €14,562 | - | -€14,562 | |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €26,143 | €31,052 | +€4,909 | +18.8% |
| Total equity and liabilities | 10/49 | €178,574 | €106,451 | -€72,123 | -40.4% |
| Equity | 10/15 | €153,478 | €28,365 | -€125,113 | -81.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Capital | 10 | €2,000 | - | -€2,000 | |
| Issued capital | 100 | €2,000 | - | -€2,000 | |
| Reserves | 13 | €151,478 | €26,365 | -€125,113 | -82.6% |
| Non-distributable reserves | 130/1 | €3,200 | €3,200 | = | 0.0% |
| Legal reserve | 130 | €3,200 | - | -€3,200 | |
| Reserves not available under the articles | 1311 | - | €3,200 | +€3,200 | |
| Distributable reserves | 133 | €148,277 | €23,164 | -€125,113 | -84.4% |
| Amounts payable | 17/49 | €25,096 | €78,087 | +€52,990 | +211% |
| Amounts payable within one year | 42/48 | €25,096 | €78,087 | +€52,990 | +211% |
| Trade debts | 44 | €2,187 | €251 | -€1,937 | -88.5% |
| Suppliers | 440/4 | €2,187 | €251 | -€1,937 | -88.5% |
| Taxes, remuneration and social security | 45 | €13,548 | €20,099 | +€6,551 | +48.4% |
| Taxes | 450/3 | €11,048 | €20,099 | +€9,051 | +81.9% |
| Remuneration and social security | 454/9 | €2,500 | - | -€2,500 | |
| Other amounts payable | 47/48 | €9,361 | €57,737 | +€48,376 | +517% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,935 | €21,801 | +€17,866 | +454% |
| Other operating charges | 640/8 | €349 | - | -€349 | |
| Gross operating margin | 9900 | €60,112 | €52,406 | -€7,705 | -12.8% |
| Operating profit (loss) | 9901 | €55,827 | €30,605 | -€25,222 | -45.2% |
| Financial income | 75/76B | €2,422 | €12,818 | +€10,395 | +429% |
| Recurring financial income | 75 | €2,422 | €12,818 | +€10,395 | +429% |
| Profit (loss) for the period before taxes | 9903 | €58,250 | €43,423 | -€14,827 | -25.5% |
| Income taxes | 67/77 | €11,563 | €20,536 | +€8,973 | +77.6% |
| Profit (loss) for the period | 9904 | €46,686 | €22,887 | -€23,799 | -51.0% |
| Profit (loss) for the period to be appropriated | 9905 | €46,686 | €22,887 | -€23,799 | -51.0% |
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 22 October 2026 via checked.be.