LOURDAUX: 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.
LOURDAUX
Largest movements
- Receivables within one year +€148,706
up €148,706 (+32.2%), from €462,098 to €610,804
of which Trade receivables: +€137,655
- Tangible fixed assets +€128,210
up €128,210 (+110%), from €117,009 to €245,219
of which Land and buildings: +€97,782
- Cash +€31,392
up €31,392 (+21.7%), from €144,695 to €176,087
mainly Net result for the year (+€203,144) and Debts after one year (+€72,806)
- Reserves +€203,144
up €203,144 (+59.3%), from €342,593 to €545,737
- Debts after one year +€72,806
up €72,806 (+111%), from €65,344 to €138,150
- Current portion of long-term debt +€37,088
up €37,088 (+109%), from €34,025 to €71,113
- Tax, wage and social debts -€16,590
down €16,590 (-13.7%), from €120,929 to €104,339
of which Remuneration and social security: -€15,009
- Gross operating margin +€205,349
up €205,349 (+31.8%), from €646,331 to €851,680
- Staff costs +€47,972
up €47,972 (+10.2%), from €468,765 to €516,737
- Taxes +€27,508
up €27,508 (+71.2%), from €38,647 to €66,154
- Depreciation +€18,256
up €18,256 (+56.1%), from €32,558 to €50,814
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 | €767,582 | €1,073,242 | +€305,659 | +39.8% |
| Fixed assets | 21/28 | €122,009 | €250,219 | +€128,210 | +105% |
| Tangible fixed assets | 22/27 | €117,009 | €245,219 | +€128,210 | +110% |
| Land and buildings | 22 | €31,922 | €129,705 | +€97,782 | +306% |
| Plant, machinery and equipment | 23 | €41,614 | €27,580 | -€14,034 | -33.7% |
| Furniture and vehicles | 24 | €43,473 | €87,935 | +€44,462 | +102% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €645,573 | €823,022 | +€177,449 | +27.5% |
| Stocks and contracts in progress | 3 | €34,480 | €30,892 | -€3,588 | -10.4% |
| Stocks | 30/36 | €34,480 | €30,892 | -€3,588 | -10.4% |
| Amounts receivable within one year | 40/41 | €462,098 | €610,804 | +€148,706 | +32.2% |
| Trade receivables | 40 | €454,062 | €591,717 | +€137,655 | +30.3% |
| Other amounts receivable | 41 | €8,036 | €19,087 | +€11,051 | +138% |
| Cash at bank and in hand | 54/58 | €144,695 | €176,087 | +€31,392 | +21.7% |
| Deferred charges and accrued income | 490/1 | €4,300 | €5,239 | +€939 | +21.8% |
| Total equity and liabilities | 10/49 | €767,582 | €1,073,242 | +€305,659 | +39.8% |
| Equity | 10/15 | €361,193 | €564,337 | +€203,144 | +56.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €342,593 | €545,737 | +€203,144 | +59.3% |
| Distributable reserves | 133 | €342,593 | €545,737 | +€203,144 | +59.3% |
| Amounts payable | 17/49 | €406,389 | €508,904 | +€102,515 | +25.2% |
| Amounts payable after more than one year | 17 | €65,344 | €138,150 | +€72,806 | +111% |
| Financial debts | 170/4 | €65,344 | €138,150 | +€72,806 | +111% |
| Amounts payable within one year | 42/48 | €340,920 | €370,110 | +€29,190 | +8.6% |
| Current portion of amounts payable after more than one year | 42 | €34,025 | €71,113 | +€37,088 | +109% |
| Trade debts | 44 | €159,057 | €158,717 | -€341 | -0.2% |
| Suppliers | 440/4 | €159,057 | €158,717 | -€341 | -0.2% |
| Taxes, remuneration and social security | 45 | €120,929 | €104,339 | -€16,590 | -13.7% |
| Taxes | 450/3 | €68,375 | €66,794 | -€1,581 | -2.3% |
| Remuneration and social security | 454/9 | €52,554 | €37,545 | -€15,009 | -28.6% |
| Other amounts payable | 47/48 | €26,909 | €35,941 | +€9,032 | +33.6% |
| Accrued charges and deferred income | 492/3 | €125 | €645 | +€519 | +414% |
| Remuneration, social security and pensions | 62 | €468,765 | €516,737 | +€47,972 | +10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,558 | €50,814 | +€18,256 | +56.1% |
| Other operating charges | 640/8 | €6,432 | €6,287 | -€145 | -2.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €646,331 | €851,680 | +€205,349 | +31.8% |
| Operating profit (loss) | 9901 | €138,577 | €277,843 | +€139,266 | +100% |
| Financial income | 75/76B | €102 | €356 | +€254 | +250% |
| Recurring financial income | 75 | €102 | €356 | +€254 | +250% |
| Financial charges | 65/66B | €5,464 | €8,901 | +€3,436 | +62.9% |
| Recurring financial charges | 65 | €5,464 | €8,901 | +€3,436 | +62.9% |
| Profit (loss) for the period before taxes | 9903 | €133,215 | €269,298 | +€136,084 | +102% |
| Income taxes | 67/77 | €38,647 | €66,154 | +€27,508 | +71.2% |
| Profit (loss) for the period | 9904 | €94,568 | €203,144 | +€108,576 | +115% |
| Profit (loss) for the period to be appropriated | 9905 | €94,568 | €203,144 | +€108,576 | +115% |
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 17 October 2026 via checked.be.