Louis: 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.
Louis
Largest movements
- Receivables within one year -€206,479
down €206,479 (-64.4%), from €320,737 to €114,257
of which Trade receivables: -€224,205
- Stocks and contracts +€22,599
up €22,599 (+1221.4%), from €1,850 to €24,450
- Tangible fixed assets -€19,583
down €19,583 (-34.2%), from €57,235 to €37,651
of which Furniture and vehicles: -€17,233
- Cash -€7,237
down €7,237 (-75.1%), from €9,633 to €2,396
mainly Current portion of long-term debt (-€182,731) and Trade debts (-€50,266)
- Current portion of long-term debt -€182,731
down €182,731 (-80.4%), from €227,357 to €44,626
- Trade debts -€50,266
down €50,266 (-62.9%), from €79,943 to €29,677
- Profit (loss) carried forward +€21,048
up €21,048 (+47.5%), from €44,345 to €65,393
- Debts after one year -€8,109
down €8,109 (-70.1%), from €11,567 to €3,458
- Tax, wage and social debts +€6,961
up €6,961 (+108.6%), from €6,412 to €13,373
- Gross operating margin -€17,463
down €17,463 (-29.6%), from €59,061 to €41,597
- Taxes -€3,032
down €3,032 (-57.5%), from €5,270 to €2,239
- Other operating charges -€1,530
down €1,530 (-67.5%), from €2,268 to €738
- Depreciation -€1,530
down €1,530 (-8.7%), from €17,654 to €16,124
- Staff costs -€620
no longer reported in 2025 (was €620)
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 | €390,085 | €179,385 | -€210,700 | -54.0% |
| Fixed assets | 21/28 | €57,865 | €38,281 | -€19,583 | -33.8% |
| Tangible fixed assets | 22/27 | €57,235 | €37,651 | -€19,583 | -34.2% |
| Plant, machinery and equipment | 23 | €9,067 | €6,717 | -€2,350 | -25.9% |
| Furniture and vehicles | 24 | €48,168 | €30,935 | -€17,233 | -35.8% |
| Financial fixed assets | 28 | €630 | €630 | = | 0.0% |
| Current assets | 29/58 | €332,220 | €141,103 | -€191,117 | -57.5% |
| Stocks and contracts in progress | 3 | €1,850 | €24,450 | +€22,599 | +1221.4% |
| Stocks | 30/36 | €1,850 | €24,450 | +€22,599 | +1221.4% |
| Amounts receivable within one year | 40/41 | €320,737 | €114,257 | -€206,479 | -64.4% |
| Trade receivables | 40 | €276,483 | €52,278 | -€224,205 | -81.1% |
| Other amounts receivable | 41 | €44,253 | €61,979 | +€17,726 | +40.1% |
| Cash at bank and in hand | 54/58 | €9,633 | €2,396 | -€7,237 | -75.1% |
| Total equity and liabilities | 10/49 | €390,085 | €179,385 | -€210,700 | -54.0% |
| Equity | 10/15 | €64,805 | €85,853 | +€21,048 | +32.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,345 | €65,393 | +€21,048 | +47.5% |
| Amounts payable | 17/49 | €325,280 | €93,532 | -€231,748 | -71.2% |
| Amounts payable after more than one year | 17 | €11,567 | €3,458 | -€8,109 | -70.1% |
| Financial debts | 170/4 | €11,567 | €3,458 | -€8,109 | -70.1% |
| Amounts payable within one year | 42/48 | €313,713 | €90,074 | -€223,639 | -71.3% |
| Current portion of amounts payable after more than one year | 42 | €227,357 | €44,626 | -€182,731 | -80.4% |
| Financial debts | 43 | - | €98 | +€98 | |
| Credit institutions | 430/8 | - | €98 | +€98 | |
| Trade debts | 44 | €79,943 | €29,677 | -€50,266 | -62.9% |
| Suppliers | 440/4 | €79,943 | €29,677 | -€50,266 | -62.9% |
| Taxes, remuneration and social security | 45 | €6,412 | €13,373 | +€6,961 | +108.6% |
| Taxes | 450/3 | €6,412 | €13,373 | +€6,961 | +108.6% |
| Other amounts payable | 47/48 | - | €2,300 | +€2,300 | |
| Non-recurring operating income | 76A | - | €23,805 | +€23,805 | |
| Remuneration, social security and pensions | 62 | €620 | - | -€620 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,654 | €16,124 | -€1,530 | -8.7% |
| Other operating charges | 640/8 | €2,268 | €738 | -€1,530 | -67.5% |
| Gross operating margin | 9900 | €59,061 | €41,597 | -€17,463 | -29.6% |
| Operating profit (loss) | 9901 | €38,519 | €24,736 | -€13,783 | -35.8% |
| Financial income | 75/76B | €49 | - | -€49 | |
| Recurring financial income | 75 | €49 | - | -€49 | |
| Financial charges | 65/66B | €1,721 | €1,450 | -€271 | -15.7% |
| Recurring financial charges | 65 | €1,721 | €1,450 | -€271 | -15.7% |
| Profit (loss) for the period before taxes | 9903 | €36,848 | €23,286 | -€13,562 | -36.8% |
| Income taxes | 67/77 | €5,270 | €2,239 | -€3,032 | -57.5% |
| Profit (loss) for the period | 9904 | €31,578 | €21,048 | -€10,530 | -33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €31,578 | €21,048 | -€10,530 | -33.3% |
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 4 October 2026 via checked.be.