LOU-CAS: 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.
LOU-CAS
Largest movements
- Receivables within one year +€137,220
up €137,220 (+70.9%), from €193,569 to €330,789
of which Other amounts receivable: +€85,818
- Tangible fixed assets -€110,261
down €110,261 (-5.0%), from €2.2m to €2.1m
of which Plant, machinery and equipment: -€62,151
- Debts after one year +€143,273
up €143,273 (+3.1%), from €4.7m to €4.8m
- Reserves -€137,992
down €137,992 (-12.6%), from €1.1m to €958,491
of which Tax-exempt reserves: -€137,992
- Provisions -€45,997
down €45,997 (-66.3%), from €69,389 to €23,392
- Tax, wage and social debts +€33,582
up €33,582 (+169%), from €19,907 to €53,489
- Financial charges -€3.0m
down €3.0m (-97.3%), from €3.1m to €83,321
of which Non-recurring financial charges: -€3.1m
- Financial income -€39,447
down €39,447 (-100%), from €39,447 to €0
- Gross operating margin +€12,311
up €12,311 (+38.0%), from €32,358 to €44,669
- Taxes +€9,280
up €9,280 (+546%), from €1,700 to €10,980
- Other operating charges +€1,690
up €1,690 (+16.5%), from €10,252 to €11,941
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 | €3,079,598 | €3,115,650 | +€36,052 | +1.2% |
| Fixed assets | 21/28 | €2,874,558 | €2,764,298 | -€110,261 | -3.8% |
| Tangible fixed assets | 22/27 | €2,190,922 | €2,080,661 | -€110,261 | -5.0% |
| Land and buildings | 22 | €1,498,658 | €1,450,548 | -€48,110 | -3.2% |
| Plant, machinery and equipment | 23 | €692,264 | €630,113 | -€62,151 | -9.0% |
| Financial fixed assets | 28 | €683,636 | €683,636 | = | 0.0% |
| Current assets | 29/58 | €205,039 | €351,353 | +€146,313 | +71.4% |
| Amounts receivable within one year | 40/41 | €193,569 | €330,789 | +€137,220 | +70.9% |
| Trade receivables | 40 | €172,048 | €223,450 | +€51,403 | +29.9% |
| Other amounts receivable | 41 | €21,521 | €107,339 | +€85,818 | +399% |
| Cash at bank and in hand | 54/58 | €4,293 | €16,862 | +€12,569 | +293% |
| Deferred charges and accrued income | 490/1 | €7,177 | €3,701 | -€3,477 | -48.4% |
| Total equity and liabilities | 10/49 | €3,079,598 | €3,115,650 | +€36,052 | +1.2% |
| Equity | 10/15 | -€1,995,856 | -€2,121,693 | -€125,837 | -6.3% |
| Contributions | 10/11 | €83,820 | €83,820 | = | 0.0% |
| Reserves | 13 | €1,096,484 | €958,491 | -€137,992 | -12.6% |
| Tax-exempt reserves | 132 | €211,078 | €73,086 | -€137,992 | -65.4% |
| Distributable reserves | 133 | €885,406 | €885,406 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,176,159 | -€3,164,004 | +€12,156 | +0.4% |
| Provisions and deferred taxes | 16 | €69,389 | €23,392 | -€45,997 | -66.3% |
| Deferred taxes | 168 | €69,389 | €23,392 | -€45,997 | -66.3% |
| Amounts payable | 17/49 | €5,006,064 | €5,213,951 | +€207,886 | +4.2% |
| Amounts payable after more than one year | 17 | €4,650,564 | €4,793,837 | +€143,273 | +3.1% |
| Financial debts | 170/4 | €4,650,564 | €4,793,837 | +€143,273 | +3.1% |
| Amounts payable within one year | 42/48 | €349,315 | €413,928 | +€64,613 | +18.5% |
| Current portion of amounts payable after more than one year | 42 | €163,539 | €170,358 | +€6,819 | +4.2% |
| Financial debts | 43 | €17,103 | €35,880 | +€18,777 | +110% |
| Credit institutions | 430/8 | €17,103 | €35,880 | +€18,777 | +110% |
| Trade debts | 44 | €68,766 | €74,202 | +€5,436 | +7.9% |
| Suppliers | 440/4 | €68,766 | €74,202 | +€5,436 | +7.9% |
| Taxes, remuneration and social security | 45 | €19,907 | €53,489 | +€33,582 | +169% |
| Taxes | 450/3 | €19,907 | €53,489 | +€33,582 | +169% |
| Other amounts payable | 47/48 | €80,000 | €80,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €6,185 | €6,185 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €110,638 | €110,261 | -€377 | -0.3% |
| Other operating charges | 640/8 | €10,252 | €11,941 | +€1,690 | +16.5% |
| Gross operating margin | 9900 | €32,358 | €44,669 | +€12,311 | +38.0% |
| Operating profit (loss) | 9901 | -€88,532 | -€77,533 | +€10,999 | +12.4% |
| Financial income | 75/76B | €39,447 | €0 | -€39,447 | -100% |
| Recurring financial income | 75 | €39,447 | €0 | -€39,447 | -100% |
| Financial charges | 65/66B | €3,130,224 | €83,321 | -€3.0m | -97.3% |
| Recurring financial charges | 65 | €60,226 | €83,321 | +€23,095 | +38.3% |
| Non-recurring financial charges | 66B | €3,069,998 | €0 | -€3.1m | -100% |
| Profit (loss) for the period before taxes | 9903 | -€3,179,310 | -€160,854 | +€3.0m | +94.9% |
| Transfer from deferred taxes | 780 | €1,213 | €45,997 | +€44,785 | +3,693% |
| Income taxes | 67/77 | €1,700 | €10,980 | +€9,280 | +546% |
| Profit (loss) for the period | 9904 | -€3,179,797 | -€125,837 | +€3.1m | +96.0% |
| Transfer from tax-exempt reserves | 789 | €3,638 | €137,992 | +€134,355 | +3,693% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,176,159 | €12,156 | +€3.2m |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.