LOUIS AND MEN: what changed
What changed
LOUIS AND MEN
NACE 11.050, Manufacture of beer
filed annual accounts (NBB)
Net result for the year
-€16,799
2024 · €1,155-€17,954
Equity
€23,338
2024 · €40,137-€16,799
Cash
€21,987
2024 · €23,866-€1,879
Balance sheet total
€360,434
2024 · €388,444-€28,010
Largest movements
Assets
- Tangible fixed assets -€27,392
down €27,392 (-11.4%), from €241,207 to €213,815
of which Leasing and similar rights: -€13,737
- Stocks and contracts +€6,017
up €6,017 (+6.0%), from €101,055 to €107,072
- Deferred charges and accrued income -€4,339
no longer reported in 2025 (was €4,339)
Equity and liabilities
- Profit (loss) carried forward -€16,799
down €16,799 (-20.7%), from -€81,080 to -€97,879
- Debts after one year -€13,486
down €13,486 (-5.9%), from €228,744 to €215,258
of which Financial debts: -€13,486
- Trade debts -€4,573
down €4,573 (-19.3%), from €23,723 to €19,150
- Other debts +€4,364
up €4,364 (+5.7%), from €75,958 to €80,322
Income statement
- Staff costs +€15,288
up €15,288 (+84.0%), from €18,196 to €33,484
- Financial income +€1,048
up €1,048 (+1,612%), from €65 to €1,113
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€1,155
Gross operating margin
-€149
Staff costs
-€15,288
Other operating charges
+€322
Other operating items
-€3,600
Financial income
+€1,048
Financial charges
-€287
Result 2025
-€16,799
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€12,141
Investment
-€674
Financing
-€13,346
Cash 2024
€23,866
From operations (derived)
+€12,141
Net result for the year
-€16,799
Depreciation
+€28,686
Stocks and contracts
-€6,017
Receivables within one year
-€203
Deferred charges and accrued income
+€4,339
Trade debts
-€4,573
Tax, wage and social debts
+€2,344
Other debts
+€4,364
Investment (derived)
-€674
Investment in fixed assets (net)
-€674
Financing
-€13,346
Debts after one year
-€13,486
Current portion of long-term debt
+€140
Cash 2025
€21,987
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €388,444 | €360,434 | -€28,010 | -7.2% |
| Fixed assets | 21/28 | €247,957 | €219,945 | -€28,012 | -11.3% |
| Tangible fixed assets | 22/27 | €241,207 | €213,815 | -€27,392 | -11.4% |
| Land and buildings | 22 | €100,829 | €92,059 | -€8,770 | -8.7% |
| Plant, machinery and equipment | 23 | €124,942 | €120,489 | -€4,453 | -3.6% |
| Furniture and vehicles | 24 | €1,699 | €1,267 | -€432 | -25.4% |
| Leasing and similar rights | 25 | €13,737 | - | -€13,737 | |
| Financial fixed assets | 28 | €6,750 | €6,130 | -€620 | -9.2% |
| Current assets | 29/58 | €140,487 | €140,489 | +€2 | 0.0% |
| Stocks and contracts in progress | 3 | €101,055 | €107,072 | +€6,017 | +6.0% |
| Stocks | 30/36 | €101,055 | €107,072 | +€6,017 | +6.0% |
| Amounts receivable within one year | 40/41 | €11,227 | €11,430 | +€203 | +1.8% |
| Trade receivables | 40 | €11,227 | €11,430 | +€203 | +1.8% |
| Cash at bank and in hand | 54/58 | €23,866 | €21,987 | -€1,879 | -7.9% |
| Deferred charges and accrued income | 490/1 | €4,339 | - | -€4,339 | |
| Total equity and liabilities | 10/49 | €388,444 | €360,434 | -€28,010 | -7.2% |
| Equity | 10/15 | €40,137 | €23,338 | -€16,799 | -41.9% |
| Contributions | 10/11 | €116,200 | €116,200 | = | 0.0% |
| Capital | 10 | €116,200 | €116,200 | = | 0.0% |
| Issued capital | 100 | €116,200 | €116,200 | = | 0.0% |
| Reserves | 13 | €5,017 | €5,017 | = | 0.0% |
| Non-distributable reserves | 130/1 | €711 | €711 | = | 0.0% |
| Legal reserve | 130 | €711 | €711 | = | 0.0% |
| Distributable reserves | 133 | €4,306 | €4,306 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€81,080 | -€97,879 | -€16,799 | -20.7% |
| Amounts payable | 17/49 | €348,307 | €337,096 | -€11,211 | -3.2% |
| Amounts payable after more than one year | 17 | €228,744 | €215,258 | -€13,486 | -5.9% |
| Financial debts | 170/4 | €128,744 | €115,258 | -€13,486 | -10.5% |
| Trade debts | 175 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €119,563 | €121,838 | +€2,275 | +1.9% |
| Current portion of amounts payable after more than one year | 42 | €13,342 | €13,482 | +€140 | +1.0% |
| Trade debts | 44 | €23,723 | €19,150 | -€4,573 | -19.3% |
| Suppliers | 440/4 | €23,723 | €19,150 | -€4,573 | -19.3% |
| Taxes, remuneration and social security | 45 | €6,540 | €8,884 | +€2,344 | +35.8% |
| Taxes | 450/3 | €2,862 | €3,430 | +€568 | +19.8% |
| Remuneration and social security | 454/9 | €3,678 | €5,454 | +€1,776 | +48.3% |
| Other amounts payable | 47/48 | €75,958 | €80,322 | +€4,364 | +5.7% |
| Remuneration, social security and pensions | 62 | €18,196 | €33,484 | +€15,288 | +84.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,686 | €28,686 | = | 0.0% |
| Other operating charges | 640/8 | €6,693 | €6,371 | -€322 | -4.8% |
| Non-recurring operating charges | 66A | -€3,600 | - | +€3,600 | |
| Gross operating margin | 9900 | €56,420 | €56,271 | -€149 | -0.3% |
| Operating profit (loss) | 9901 | €6,445 | -€12,270 | -€18,715 | |
| Financial income | 75/76B | €65 | €1,113 | +€1,048 | +1,612% |
| Recurring financial income | 75 | €65 | €1,113 | +€1,048 | +1,612% |
| Financial charges | 65/66B | €5,355 | €5,642 | +€287 | +5.4% |
| Recurring financial charges | 65 | €5,355 | €5,642 | +€287 | +5.4% |
| Profit (loss) for the period before taxes | 9903 | €1,155 | -€16,799 | -€17,954 | |
| Profit (loss) for the period | 9904 | €1,155 | -€16,799 | -€17,954 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,155 | -€16,799 | -€17,954 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.