Lou: 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.
Lou
Largest movements
- Receivables within one year +€317,447
up €317,447 (+73.1%), from €434,290 to €751,736
of which Trade receivables: +€168,298
- Deferred charges and accrued income +€83,774
up €83,774 (+85.3%), from €98,251 to €182,025
- Tangible fixed assets -€14,477
down €14,477 (-17.1%), from €84,840 to €70,363
of which Furniture and vehicles: -€8,091
- Tax, wage and social debts +€255,123
up €255,123 (+81.2%), from €314,079 to €569,201
of which Remuneration and social security: +€180,044
- Profit (loss) carried forward +€112,162
up €112,162 (+57.6%), from €194,635 to €306,798
- Other debts +€39,850
up €39,850 (+188.4%), from €21,150 to €61,000
- Debts after one year -€27,615
down €27,615 (-61.5%), from €44,915 to €17,300
- Gross operating margin +€702,056
up €702,056 (+84.5%), from €830,359 to €1.5m
- Staff costs +€476,647
up €476,647 (+76.3%), from €624,408 to €1.1m
- Taxes +€60,930
up €60,930 (+117.9%), from €51,676 to €112,606
- Other operating charges +€32,693
up €32,693 (+1026.9%), from €3,184 to €35,876
- Financial income +€20,332
up €20,332 (+634.6%), from €3,204 to €23,536
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €624,500 | €1,008,806 | +€384,307 | +61.5% |
| Fixed assets | 21/28 | €91,959 | €75,045 | -€16,914 | -18.4% |
| Intangible fixed assets | 21 | €5,784 | €3,347 | -€2,436 | -42.1% |
| Tangible fixed assets | 22/27 | €84,840 | €70,363 | -€14,477 | -17.1% |
| Land and buildings | 22 | €63,336 | €57,124 | -€6,212 | -9.8% |
| Plant, machinery and equipment | 23 | €1,222 | €1,048 | -€174 | -14.2% |
| Furniture and vehicles | 24 | €20,282 | €12,190 | -€8,091 | -39.9% |
| Financial fixed assets | 28 | €1,335 | €1,335 | = | 0.0% |
| Current assets | 29/58 | €532,541 | €933,761 | +€401,220 | +75.3% |
| Amounts receivable within one year | 40/41 | €434,290 | €751,736 | +€317,447 | +73.1% |
| Trade receivables | 40 | €85,736 | €254,034 | +€168,298 | +196.3% |
| Other amounts receivable | 41 | €348,553 | €497,703 | +€149,149 | +42.8% |
| Deferred charges and accrued income | 490/1 | €98,251 | €182,025 | +€83,774 | +85.3% |
| Total equity and liabilities | 10/49 | €624,500 | €1,008,806 | +€384,307 | +61.5% |
| Equity | 10/15 | €219,525 | €331,687 | +€112,162 | +51.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €23,889 | €23,889 | = | 0.0% |
| Distributable reserves | 133 | €23,889 | €23,889 | = | 0.0% |
| Profit (loss) carried forward | 14 | €194,635 | €306,798 | +€112,162 | +57.6% |
| Amounts payable | 17/49 | €404,975 | €677,119 | +€272,144 | +67.2% |
| Amounts payable after more than one year | 17 | €44,915 | €17,300 | -€27,615 | -61.5% |
| Other amounts payable | 178/9 | €44,915 | €17,300 | -€27,615 | -61.5% |
| Amounts payable within one year | 42/48 | €360,060 | €657,066 | +€297,006 | +82.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €10,102 | €11,505 | +€1,403 | +13.9% |
| Credit institutions | 430/8 | €10,100 | €11,505 | +€1,405 | +13.9% |
| Other loans | 439 | €2 | €0 | -€2 | -100.0% |
| Trade debts | 44 | €14,730 | €15,360 | +€630 | +4.3% |
| Suppliers | 440/4 | €14,730 | €15,360 | +€630 | +4.3% |
| Taxes, remuneration and social security | 45 | €314,079 | €569,201 | +€255,123 | +81.2% |
| Taxes | 450/3 | €131,208 | €206,286 | +€75,079 | +57.2% |
| Remuneration and social security | 454/9 | €182,871 | €362,915 | +€180,044 | +98.5% |
| Other amounts payable | 47/48 | €21,150 | €61,000 | +€39,850 | +188.4% |
| Accrued charges and deferred income | 492/3 | - | €2,753 | +€2,753 | |
| Non-recurring operating income | 76A | €13,591 | €327,852 | +€314,261 | +2312.2% |
| Remuneration, social security and pensions | 62 | €624,408 | €1,101,056 | +€476,647 | +76.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,742 | €19,414 | +€672 | +3.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,690 | €0 | -€4,690 | -100.0% |
| Other operating charges | 640/8 | €3,184 | €35,876 | +€32,693 | +1026.9% |
| Non-recurring operating charges | 66A | €11,087 | €109,276 | +€98,188 | +885.6% |
| Gross operating margin | 9900 | €830,359 | €1,532,415 | +€702,056 | +84.5% |
| Operating profit (loss) | 9901 | €168,249 | €266,793 | +€98,545 | +58.6% |
| Financial income | 75/76B | €3,204 | €23,536 | +€20,332 | +634.6% |
| Recurring financial income | 75 | €3,204 | €23,536 | +€20,332 | +634.6% |
| Financial charges | 65/66B | €6,557 | €4,560 | -€1,997 | -30.5% |
| Recurring financial charges | 65 | €6,557 | €4,560 | -€1,997 | -30.5% |
| Profit (loss) for the period before taxes | 9903 | €164,895 | €285,769 | +€120,873 | +73.3% |
| Income taxes | 67/77 | €51,676 | €112,606 | +€60,930 | +117.9% |
| Profit (loss) for the period | 9904 | €113,219 | €173,162 | +€59,943 | +52.9% |
| Profit (loss) for the period to be appropriated | 9905 | €113,219 | €173,162 | +€59,943 | +52.9% |
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 8 October 2026 via checked.be.