LOUISE I: what changed
LOUISE I
Largest movements
- Cash -€11,110
down €11,110 (-90.7%), from €12,251 to €1,141
mainly Net result for the year (-€14,130) and Receivables within one year (-€8,858)
- Current investments -€9,000
down €9,000 (-2.3%), from €391,735 to €382,735
- Receivables within one year +€8,858
up €8,858 (+4.1%), from €217,622 to €226,480
of which Other amounts receivable: +€70,148
- Profit (loss) carried forward -€14,130
down €14,130 (-6.0%), from -€235,657 to -€249,787
- Gross operating margin +€19,535
up €19,535 (+59.0%), from -€33,123 to -€13,588
- Other operating charges +€1,380
new in 2025: €1,380
- Financial income +€338
up €338 (+32.4%), from €1,045 to €1,384
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €622,093 | €610,357 | -€11,736 | -1.9% |
| Fixed assets | 21/28 | €485 | €0 | -€485 | -100% |
| Financial fixed assets | 28 | €485 | €0 | -€485 | -100% |
| Current assets | 29/58 | €621,608 | €610,357 | -€11,251 | -1.8% |
| Amounts receivable within one year | 40/41 | €217,622 | €226,480 | +€8,858 | +4.1% |
| Trade receivables | 40 | €61,290 | €0 | -€61,290 | -100% |
| Other amounts receivable | 41 | €156,332 | €226,480 | +€70,148 | +44.9% |
| Current investments | 50/53 | €391,735 | €382,735 | -€9,000 | -2.3% |
| Cash at bank and in hand | 54/58 | €12,251 | €1,141 | -€11,110 | -90.7% |
| Total equity and liabilities | 10/49 | €622,093 | €610,357 | -€11,736 | -1.9% |
| Equity | 10/15 | €421,790 | €407,660 | -€14,130 | -3.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €645,047 | €645,047 | = | 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% |
| Tax-exempt reserves | 132 | €624,362 | €624,362 | = | 0.0% |
| Distributable reserves | 133 | €18,826 | €18,826 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€235,657 | -€249,787 | -€14,130 | -6.0% |
| Provisions and deferred taxes | 16 | €197,162 | €197,162 | = | 0.0% |
| Deferred taxes | 168 | €197,162 | €197,162 | = | 0.0% |
| Amounts payable | 17/49 | €3,141 | €5,534 | +€2,393 | +76.2% |
| Amounts payable within one year | 42/48 | €3,141 | €5,534 | +€2,393 | +76.2% |
| Trade debts | 44 | €21 | €1,729 | +€1,708 | +8,178% |
| Suppliers | 440/4 | €21 | €1,729 | +€1,708 | +8,178% |
| Other amounts payable | 47/48 | €3,120 | €3,805 | +€685 | +22.0% |
| Other operating charges | 640/8 | - | €1,380 | +€1,380 | |
| Gross operating margin | 9900 | -€33,123 | -€13,588 | +€19,535 | +59.0% |
| Operating profit (loss) | 9901 | -€33,123 | -€14,967 | +€18,156 | +54.8% |
| Financial income | 75/76B | €1,045 | €1,384 | +€338 | +32.4% |
| Recurring financial income | 75 | €1,045 | €1,384 | +€338 | +32.4% |
| Financial charges | 65/66B | €407 | €546 | +€139 | +34.2% |
| Recurring financial charges | 65 | €407 | €546 | +€139 | +34.2% |
| Profit (loss) for the period before taxes | 9903 | -€32,485 | -€14,130 | +€18,355 | +56.5% |
| Profit (loss) for the period | 9904 | -€32,485 | -€14,130 | +€18,355 | +56.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,485 | -€14,130 | +€18,355 | +56.5% |
Next steps
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 6 November 2026 via checked.be.