LOUISETTE: 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.
LOUISETTE
Largest movements
- Receivables within one year -€98,920
down €98,920 (-100%), from €98,920 to €0
of which Trade receivables: -€98,920
- Stocks and contracts +€46,932
up €46,932 (+15.0%), from €313,621 to €360,554
- Cash +€15,181
up €15,181 (+237%), from €6,414 to €21,596
mainly Receivables within one year (+€98,920) and Trade debts (+€19,915)
- Tangible fixed assets -€5,978
down €5,978 (-34.1%), from €17,522 to €11,544
- Formation expenses -€4,663
down €4,663 (-25.0%), from €18,651 to €13,988
- Debts after one year -€69,230
down €69,230 (-25.6%), from €270,765 to €201,535
- Trade debts +€19,915
up €19,915 (+829%), from €2,401 to €22,316
- Tax, wage and social debts -€13,755
down €13,755 (-29.2%), from €47,049 to €33,294
of which Taxes: -€7,146
- Other debts +€11,933
up €11,933 (+18.2%), from €65,568 to €77,501
- Staff costs +€31,617
up €31,617 (+53.3%), from €59,308 to €90,925
- Gross operating margin +€6,133
up €6,133 (+5.7%), from €107,674 to €113,807
- Financial charges -€4,599
down €4,599 (-33.5%), from €13,725 to €9,126
- Other operating charges -€2,351
down €2,351 (-62.9%), from €3,737 to €1,387
- Financial income +€1,481
up €1,481, from €0 to €1,481
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 | €455,129 | €407,682 | -€47,447 | -10.4% |
| Formation expenses | 20 | €18,651 | €13,988 | -€4,663 | -25.0% |
| Fixed assets | 21/28 | €17,522 | €11,544 | -€5,978 | -34.1% |
| Tangible fixed assets | 22/27 | €17,522 | €11,544 | -€5,978 | -34.1% |
| Other tangible fixed assets | 26 | €17,522 | €11,544 | -€5,978 | -34.1% |
| Current assets | 29/58 | €418,956 | €382,149 | -€36,806 | -8.8% |
| Stocks and contracts in progress | 3 | €313,621 | €360,554 | +€46,932 | +15.0% |
| Stocks | 30/36 | €313,621 | €360,554 | +€46,932 | +15.0% |
| Amounts receivable within one year | 40/41 | €98,920 | €0 | -€98,920 | -100% |
| Trade receivables | 40 | €98,920 | €0 | -€98,920 | -100% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €6,414 | €21,596 | +€15,181 | +237% |
| Total equity and liabilities | 10/49 | €455,129 | €407,682 | -€47,447 | -10.4% |
| Equity | 10/15 | €5,155 | €7,600 | +€2,446 | +47.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €40,834 | €40,834 | = | 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% |
| Distributable reserves | 133 | €38,974 | €38,974 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€41,879 | -€39,433 | +€2,446 | +5.8% |
| Amounts payable | 17/49 | €449,974 | €400,081 | -€49,893 | -11.1% |
| Amounts payable after more than one year | 17 | €270,765 | €201,535 | -€69,230 | -25.6% |
| Financial debts | 170/4 | €270,765 | €201,535 | -€69,230 | -25.6% |
| Amounts payable within one year | 42/48 | €179,209 | €198,546 | +€19,338 | +10.8% |
| Current portion of amounts payable after more than one year | 42 | €9,342 | €10,482 | +€1,140 | +12.2% |
| Financial debts | 43 | €54,849 | €54,954 | +€104 | +0.2% |
| Credit institutions | 430/8 | €54,849 | €54,954 | +€104 | +0.2% |
| Trade debts | 44 | €2,401 | €22,316 | +€19,915 | +829% |
| Suppliers | 440/4 | €2,401 | €22,316 | +€19,915 | +829% |
| Taxes, remuneration and social security | 45 | €47,049 | €33,294 | -€13,755 | -29.2% |
| Taxes | 450/3 | €35,485 | €28,340 | -€7,146 | -20.1% |
| Remuneration and social security | 454/9 | €11,564 | €4,955 | -€6,609 | -57.2% |
| Other amounts payable | 47/48 | €65,568 | €77,501 | +€11,933 | +18.2% |
| Remuneration, social security and pensions | 62 | €59,308 | €90,925 | +€31,617 | +53.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,641 | €10,641 | = | 0.0% |
| Other operating charges | 640/8 | €3,737 | €1,387 | -€2,351 | -62.9% |
| Gross operating margin | 9900 | €107,674 | €113,807 | +€6,133 | +5.7% |
| Operating profit (loss) | 9901 | €33,988 | €10,855 | -€23,133 | -68.1% |
| Financial income | 75/76B | €0 | €1,481 | +€1,481 | |
| Recurring financial income | 75 | €0 | €1,481 | +€1,481 | |
| Financial charges | 65/66B | €13,725 | €9,126 | -€4,599 | -33.5% |
| Recurring financial charges | 65 | €13,725 | €9,126 | -€4,599 | -33.5% |
| Profit (loss) for the period before taxes | 9903 | €20,262 | €3,209 | -€17,053 | -84.2% |
| Income taxes | 67/77 | - | €764 | +€764 | |
| Profit (loss) for the period | 9904 | €20,262 | €2,446 | -€17,817 | -87.9% |
| Profit (loss) for the period to be appropriated | 9905 | €20,262 | €2,446 | -€17,817 | -87.9% |
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 23 October 2026 via checked.be.