LOUIS: 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.
LOUIS
Largest movements
- Tangible fixed assets +€56,037
up €56,037 (+20.3%), from €275,736 to €331,773
of which Land and buildings: +€67,122
- Receivables within one year -€39,834
down €39,834 (-64.2%), from €62,086 to €22,252
of which Trade receivables: -€35,509
- Reserves -€74,978
no longer reported in 2025 (was €74,978)
- Profit (loss) carried forward +€74,355
new in 2025: €74,355
- Trade debts +€30,644
up €30,644 (+20.7%), from €148,052 to €178,696
- Advances received -€8,700
no longer reported in 2025 (was €8,700)
- Accrued charges and deferred income -€6,900
down €6,900 (-38.3%), from €18,000 to €11,100
- Gross operating margin -€73,840
down €73,840 (-65.5%), from €112,705 to €38,866
- Depreciation +€13,151
up €13,151 (+50.0%), from €26,313 to €39,463
- Taxes -€10,906
no longer reported in 2025 (was €10,906)
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 | €348,904 | €362,915 | +€14,011 | +4.0% |
| Fixed assets | 21/28 | €283,236 | €339,273 | +€56,037 | +19.8% |
| Tangible fixed assets | 22/27 | €275,736 | €331,773 | +€56,037 | +20.3% |
| Land and buildings | 22 | €236,857 | €303,980 | +€67,122 | +28.3% |
| Plant, machinery and equipment | 23 | €12,690 | €6,916 | -€5,774 | -45.5% |
| Furniture and vehicles | 24 | €26,188 | €20,877 | -€5,311 | -20.3% |
| Financial fixed assets | 28 | €7,500 | €7,500 | = | 0.0% |
| Current assets | 29/58 | €65,668 | €23,643 | -€42,025 | -64.0% |
| Amounts receivable within one year | 40/41 | €62,086 | €22,252 | -€39,834 | -64.2% |
| Trade receivables | 40 | €51,672 | €16,163 | -€35,509 | -68.7% |
| Other amounts receivable | 41 | €10,414 | €6,089 | -€4,325 | -41.5% |
| Cash at bank and in hand | 54/58 | €1,862 | €1,390 | -€472 | -25.3% |
| Deferred charges and accrued income | 490/1 | €1,720 | - | -€1,720 | |
| Total equity and liabilities | 10/49 | €348,904 | €362,915 | +€14,011 | +4.0% |
| Equity | 10/15 | €91,978 | €91,355 | -€623 | -0.7% |
| Contributions | 10/11 | €17,000 | €17,000 | = | 0.0% |
| Reserves | 13 | €74,978 | - | -€74,978 | |
| Distributable reserves | 133 | €74,978 | - | -€74,978 | |
| Profit (loss) carried forward | 14 | - | €74,355 | +€74,355 | |
| Amounts payable | 17/49 | €256,926 | €271,561 | +€14,634 | +5.7% |
| Amounts payable within one year | 42/48 | €238,926 | €260,461 | +€21,534 | +9.0% |
| Trade debts | 44 | €148,052 | €178,696 | +€30,644 | +20.7% |
| Suppliers | 440/4 | €148,052 | €178,696 | +€30,644 | +20.7% |
| Advances received on contracts in progress | 46 | €8,700 | - | -€8,700 | |
| Taxes, remuneration and social security | 45 | €8,674 | €7,728 | -€946 | -10.9% |
| Taxes | 450/3 | €8,674 | €7,728 | -€946 | -10.9% |
| Other amounts payable | 47/48 | €73,500 | €74,037 | +€537 | +0.7% |
| Accrued charges and deferred income | 492/3 | €18,000 | €11,100 | -€6,900 | -38.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,313 | €39,463 | +€13,151 | +50.0% |
| Other operating charges | 640/8 | €1,870 | €1,422 | -€448 | -23.9% |
| Gross operating margin | 9900 | €112,705 | €38,866 | -€73,840 | -65.5% |
| Operating profit (loss) | 9901 | €84,523 | -€2,020 | -€86,543 | |
| Financial income | 75/76B | €652 | €1,692 | +€1,040 | +159% |
| Recurring financial income | 75 | €652 | €1,692 | +€1,040 | +159% |
| Financial charges | 65/66B | €272 | €295 | +€23 | +8.5% |
| Recurring financial charges | 65 | €272 | €295 | +€23 | +8.5% |
| Profit (loss) for the period before taxes | 9903 | €84,904 | -€623 | -€85,527 | |
| Income taxes | 67/77 | €10,906 | - | -€10,906 | |
| Profit (loss) for the period | 9904 | €73,997 | -€623 | -€74,620 | |
| Profit (loss) for the period to be appropriated | 9905 | €73,997 | -€623 | -€74,620 |
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 17 October 2026 via checked.be.