LOUISSE&DECLERCQ: 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.
LOUISSE&DECLERCQ
Largest movements
- Tangible fixed assets +€789,826
up €789,826 (+1,303%), from €60,593 to €850,419
of which Land and buildings: +€806,799
- Receivables within one year +€56,093
up €56,093 (+101%), from €55,540 to €111,633
of which Other amounts receivable: +€29,555
- Cash -€23,971
down €23,971 (-29.3%), from €81,887 to €57,915
mainly Investment in fixed assets (net) (-€829,758) and Receivables within one year (-€56,093)
- Debts after one year +€824,786
new in 2025: €824,786
- Current portion of long-term debt +€22,733
up €22,733 (+121%), from €18,848 to €41,580
- Profit (loss) carried forward -€19,548
down €19,548, from €579 to -€18,969
- Tax, wage and social debts -€15,189
down €15,189 (-28.8%), from €52,796 to €37,607
of which Taxes: -€20,468
- Gross operating margin +€113,827
up €113,827 (+75.1%), from €151,604 to €265,431
- Other operating charges +€108,695
up €108,695 (+1,635%), from €6,648 to €115,343
- Staff costs +€55,003
up €55,003 (+127%), from €43,229 to €98,232
- Financial charges +€19,205
up €19,205 (+581%), from €3,305 to €22,510
- Depreciation +€16,462
up €16,462 (+70.1%), from €23,471 to €39,933
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 | €255,437 | €1,066,309 | +€810,871 | +317% |
| Fixed assets | 21/28 | €68,784 | €858,610 | +€789,826 | +1,148% |
| Tangible fixed assets | 22/27 | €60,593 | €850,419 | +€789,826 | +1,303% |
| Land and buildings | 22 | €11,783 | €818,583 | +€806,799 | +6,847% |
| Plant, machinery and equipment | 23 | €33,692 | €27,790 | -€5,902 | -17.5% |
| Furniture and vehicles | 24 | €5,975 | €2,704 | -€3,271 | -54.8% |
| Other tangible fixed assets | 26 | €9,143 | €1,343 | -€7,800 | -85.3% |
| Financial fixed assets | 28 | €8,191 | €8,191 | = | 0.0% |
| Current assets | 29/58 | €186,653 | €207,699 | +€21,046 | +11.3% |
| Stocks and contracts in progress | 3 | €43,379 | €38,026 | -€5,353 | -12.3% |
| Stocks | 30/36 | €43,379 | €38,026 | -€5,353 | -12.3% |
| Amounts receivable within one year | 40/41 | €55,540 | €111,633 | +€56,093 | +101% |
| Trade receivables | 40 | €0 | €26,538 | +€26,538 | |
| Other amounts receivable | 41 | €55,540 | €85,095 | +€29,555 | +53.2% |
| Cash at bank and in hand | 54/58 | €81,887 | €57,915 | -€23,971 | -29.3% |
| Deferred charges and accrued income | 490/1 | €5,848 | €125 | -€5,723 | -97.9% |
| Total equity and liabilities | 10/49 | €255,437 | €1,066,309 | +€810,871 | +317% |
| Equity | 10/15 | €143,013 | €123,466 | -€19,548 | -13.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €141,434 | €141,434 | = | 0.0% |
| Distributable reserves | 133 | €141,434 | €141,434 | = | 0.0% |
| Profit (loss) carried forward | 14 | €579 | -€18,969 | -€19,548 | |
| Amounts payable | 17/49 | €112,424 | €942,843 | +€830,419 | +739% |
| Amounts payable after more than one year | 17 | - | €824,786 | +€824,786 | |
| Financial debts | 170/4 | - | €824,786 | +€824,786 | |
| Amounts payable within one year | 42/48 | €112,424 | €118,057 | +€5,633 | +5.0% |
| Current portion of amounts payable after more than one year | 42 | €18,848 | €41,580 | +€22,733 | +121% |
| Trade debts | 44 | €40,780 | €37,952 | -€2,828 | -6.9% |
| Suppliers | 440/4 | €40,780 | €37,952 | -€2,828 | -6.9% |
| Taxes, remuneration and social security | 45 | €52,796 | €37,607 | -€15,189 | -28.8% |
| Taxes | 450/3 | €43,766 | €23,298 | -€20,468 | -46.8% |
| Remuneration and social security | 454/9 | €9,030 | €14,309 | +€5,279 | +58.5% |
| Other amounts payable | 47/48 | €0 | €918 | +€918 | +352,892% |
| Non-recurring operating income | 76A | €9,470 | €0 | -€9,470 | -100% |
| Remuneration, social security and pensions | 62 | €43,229 | €98,232 | +€55,003 | +127% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,471 | €39,933 | +€16,462 | +70.1% |
| Other operating charges | 640/8 | €6,648 | €115,343 | +€108,695 | +1,635% |
| Gross operating margin | 9900 | €151,604 | €265,431 | +€113,827 | +75.1% |
| Operating profit (loss) | 9901 | €78,256 | €11,922 | -€66,334 | -84.8% |
| Financial income | 75/76B | €19 | €0 | -€19 | -97.9% |
| Recurring financial income | 75 | €19 | €0 | -€19 | -97.9% |
| Financial charges | 65/66B | €3,305 | €22,510 | +€19,205 | +581% |
| Recurring financial charges | 65 | €3,305 | €22,510 | +€19,205 | +581% |
| Profit (loss) for the period before taxes | 9903 | €74,970 | -€10,587 | -€85,557 | |
| Income taxes | 67/77 | €20,671 | €8,961 | -€11,710 | -56.7% |
| Profit (loss) for the period | 9904 | €54,299 | -€19,548 | -€73,847 | |
| Profit (loss) for the period to be appropriated | 9905 | €54,299 | -€19,548 | -€73,847 |
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 30 October 2026 via checked.be.