LOUISE 130 E: 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.
LOUISE 130 E
Largest movements
- Tangible fixed assets -€152,244
down €152,244 (-5.0%), from €3.1m to €2.9m
- Receivables within one year +€75,648
up €75,648 (+157%), from €48,071 to €123,719
of which Trade receivables: +€73,005
- Cash +€74,844
up €74,844 (+102%), from €73,286 to €148,130
mainly Depreciation (+€164,190) and Net result for the year (+€112,946)
- Debts after one year -€181,522
down €181,522 (-7.0%), from €2.6m to €2.4m
of which Financial debts: -€186,194
- Profit (loss) carried forward +€133,640
up €133,640 (+18.2%), from -€733,775 to -€600,135
- Trade debts +€39,751
up €39,751 (+84.9%), from €46,800 to €86,551
- Gross operating margin +€156,570
up €156,570 (+57.9%), from €270,598 to €427,168
- Other operating charges +€16,168
up €16,168 (+16.3%), from €99,062 to €115,230
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 | €3,205,774 | €3,198,200 | -€7,574 | -0.2% |
| Fixed assets | 21/28 | €3,069,662 | €2,917,418 | -€152,244 | -5.0% |
| Tangible fixed assets | 22/27 | €3,069,662 | €2,917,418 | -€152,244 | -5.0% |
| Land and buildings | 22 | €3,069,662 | €2,917,418 | -€152,244 | -5.0% |
| Current assets | 29/58 | €136,112 | €280,781 | +€144,670 | +106% |
| Amounts receivable within one year | 40/41 | €48,071 | €123,719 | +€75,648 | +157% |
| Trade receivables | 40 | €47,714 | €120,719 | +€73,005 | +153% |
| Other amounts receivable | 41 | €357 | €3,000 | +€2,643 | +740% |
| Cash at bank and in hand | 54/58 | €73,286 | €148,130 | +€74,844 | +102% |
| Deferred charges and accrued income | 490/1 | €14,755 | €8,933 | -€5,823 | -39.5% |
| Total equity and liabilities | 10/49 | €3,205,774 | €3,198,200 | -€7,574 | -0.2% |
| Equity | 10/15 | -€105,166 | €7,780 | +€112,946 | |
| Contributions | 10/11 | €123,500 | €123,500 | = | 0.0% |
| Capital | 10 | €123,500 | €123,500 | = | 0.0% |
| Issued capital | 100 | €123,500 | €123,500 | = | 0.0% |
| Reserves | 13 | €505,109 | €484,414 | -€20,694 | -4.1% |
| Non-distributable reserves | 130/1 | €12,700 | €12,700 | = | 0.0% |
| Legal reserve | 130 | €12,700 | €12,700 | = | 0.0% |
| Tax-exempt reserves | 132 | €492,409 | €471,714 | -€20,694 | -4.2% |
| Profit (loss) carried forward | 14 | -€733,775 | -€600,135 | +€133,640 | +18.2% |
| Provisions and deferred taxes | 16 | €253,552 | €242,896 | -€10,656 | -4.2% |
| Deferred taxes | 168 | €253,552 | €242,896 | -€10,656 | -4.2% |
| Amounts payable | 17/49 | €3,057,388 | €2,947,524 | -€109,864 | -3.6% |
| Amounts payable after more than one year | 17 | €2,600,693 | €2,419,172 | -€181,522 | -7.0% |
| Financial debts | 170/4 | €2,579,168 | €2,392,975 | -€186,194 | -7.2% |
| Other amounts payable | 178/9 | €21,525 | €26,197 | +€4,672 | +21.7% |
| Amounts payable within one year | 42/48 | €379,969 | €424,391 | +€44,422 | +11.7% |
| Current portion of amounts payable after more than one year | 42 | €183,149 | €186,194 | +€3,045 | +1.7% |
| Trade debts | 44 | €46,800 | €86,551 | +€39,751 | +84.9% |
| Suppliers | 440/4 | €46,800 | €86,551 | +€39,751 | +84.9% |
| Taxes, remuneration and social security | 45 | €72 | €1,586 | +€1,514 | +2,099% |
| Taxes | 450/3 | €72 | €1,586 | +€1,514 | +2,099% |
| Other amounts payable | 47/48 | €149,948 | €150,060 | +€112 | +0.1% |
| Accrued charges and deferred income | 492/3 | €76,726 | €103,962 | +€27,236 | +35.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €161,311 | €164,190 | +€2,879 | +1.8% |
| Other operating charges | 640/8 | €99,062 | €115,230 | +€16,168 | +16.3% |
| Gross operating margin | 9900 | €270,598 | €427,168 | +€156,570 | +57.9% |
| Operating profit (loss) | 9901 | €10,225 | €147,748 | +€137,523 | +1,345% |
| Financial income | 75/76B | €20 | €261 | +€241 | +1,223% |
| Recurring financial income | 75 | €20 | €261 | +€241 | +1,223% |
| Financial charges | 65/66B | €48,402 | €45,362 | -€3,040 | -6.3% |
| Recurring financial charges | 65 | €48,402 | €45,362 | -€3,040 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | -€38,157 | €102,647 | +€140,805 | |
| Transfer from deferred taxes | 780 | €10,656 | €10,656 | = | 0.0% |
| Income taxes | 67/77 | -€357 | €357 | +€714 | |
| Profit (loss) for the period | 9904 | -€27,144 | €112,946 | +€140,090 | |
| Transfer from tax-exempt reserves | 789 | €20,694 | €20,694 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,450 | €133,640 | +€140,090 |
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 16 October 2026 via checked.be.