LOUCA: 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.
LOUCA
Largest movements
- Tangible fixed assets -€127,891
down €127,891 (-74.0%), from €172,799 to €44,907
of which Land and buildings: -€110,028
- Receivables within one year +€31,085
up €31,085 (+420.5%), from €7,393 to €38,477
of which Trade receivables: +€31,318
- Debts after one year +€321,394
up €321,394 (+128.6%), from €250,000 to €571,394
- Profit (loss) carried forward -€196,315
down €196,315 (-61.2%), from -€320,572 to -€516,887
- Other debts -€138,355
down €138,355 (-14.0%), from €985,039 to €846,684
- Trade debts -€80,572
down €80,572 (-92.1%), from €87,459 to €6,887
- Current portion of long-term debt +€12,063
new in 2025: €12,063
- Gross operating margin -€63,135
down €63,135, from €5,303 to -€57,831
- Depreciation -€15,321
down €15,321 (-46.6%), from €32,912 to €17,591
- Financial charges +€6,040
up €6,040, from -€14 to €6,027
- Other operating charges -€1,402
down €1,402 (-78.2%), from €1,792 to €390
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 | €1,106,400 | €1,013,661 | -€92,739 | -8.4% |
| Fixed assets | 21/28 | €943,308 | €815,417 | -€127,891 | -13.6% |
| Tangible fixed assets | 22/27 | €172,799 | €44,907 | -€127,891 | -74.0% |
| Land and buildings | 22 | €114,734 | €4,706 | -€110,028 | -95.9% |
| Plant, machinery and equipment | 23 | €2,038 | €868 | -€1,170 | -57.4% |
| Furniture and vehicles | 24 | €53,751 | €39,334 | -€14,418 | -26.8% |
| Other tangible fixed assets | 26 | €2,275 | €0 | -€2,275 | -100.0% |
| Financial fixed assets | 28 | €770,510 | €770,510 | = | 0.0% |
| Current assets | 29/58 | €163,091 | €198,244 | +€35,152 | +21.6% |
| Stocks and contracts in progress | 3 | €147,385 | €147,385 | = | 0.0% |
| Stocks | 30/36 | €147,385 | €147,385 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €7,393 | €38,477 | +€31,085 | +420.5% |
| Trade receivables | 40 | €0 | €31,318 | +€31,318 | |
| Other amounts receivable | 41 | €7,393 | €7,159 | -€234 | -3.2% |
| Cash at bank and in hand | 54/58 | €6,427 | €11,502 | +€5,075 | +79.0% |
| Deferred charges and accrued income | 490/1 | €1,886 | €879 | -€1,007 | -53.4% |
| Total equity and liabilities | 10/49 | €1,106,400 | €1,013,661 | -€92,739 | -8.4% |
| Equity | 10/15 | -€232,626 | -€428,941 | -€196,315 | -84.4% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Outside capital | 11 | €61,973 | €61,973 | = | 0.0% |
| Other | 1109/19 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €25,972 | €25,972 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,222 | €7,222 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,222 | €7,222 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€320,572 | -€516,887 | -€196,315 | -61.2% |
| Amounts payable | 17/49 | €1,339,026 | €1,442,602 | +€103,576 | +7.7% |
| Amounts payable after more than one year | 17 | €250,000 | €571,394 | +€321,394 | +128.6% |
| Financial debts | 170/4 | €250,000 | €571,394 | +€321,394 | +128.6% |
| Amounts payable within one year | 42/48 | €1,079,351 | €871,208 | -€208,143 | -19.3% |
| Current portion of amounts payable after more than one year | 42 | - | €12,063 | +€12,063 | |
| Financial debts | 43 | - | €162 | +€162 | |
| Credit institutions | 430/8 | - | €162 | +€162 | |
| Trade debts | 44 | €87,459 | €6,887 | -€80,572 | -92.1% |
| Suppliers | 440/4 | €87,459 | €6,887 | -€80,572 | -92.1% |
| Taxes, remuneration and social security | 45 | €6,853 | €5,412 | -€1,440 | -21.0% |
| Taxes | 450/3 | €6,853 | €5,412 | -€1,440 | -21.0% |
| Other amounts payable | 47/48 | €985,039 | €846,684 | -€138,355 | -14.0% |
| Accrued charges and deferred income | 492/3 | €9,675 | €0 | -€9,675 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,912 | €17,591 | -€15,321 | -46.6% |
| Other operating charges | 640/8 | €1,792 | €390 | -€1,402 | -78.2% |
| Non-recurring operating charges | 66A | - | €114,231 | +€114,231 | |
| Gross operating margin | 9900 | €5,303 | -€57,831 | -€63,135 | |
| Operating profit (loss) | 9901 | -€29,401 | -€190,044 | -€160,643 | -546.4% |
| Financial income | 75/76B | €53 | €2 | -€50 | -95.4% |
| Recurring financial income | 75 | €53 | €2 | -€50 | -95.4% |
| Financial charges | 65/66B | -€14 | €6,027 | +€6,040 | |
| Recurring financial charges | 65 | -€14 | €6,027 | +€6,040 | |
| Profit (loss) for the period before taxes | 9903 | -€29,334 | -€196,068 | -€166,734 | -568.4% |
| Income taxes | 67/77 | €214 | €247 | +€33 | +15.6% |
| Profit (loss) for the period | 9904 | -€29,548 | -€196,315 | -€166,767 | -564.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,548 | -€196,315 | -€166,767 | -564.4% |
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.