LOUROSE: what changed
Two fiscal 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.
LOUROSE
Largest movements
- Tangible fixed assets +€316,572
up €316,572 (+198.2%), from €159,697 to €476,270
of which Land and buildings: +€319,972
- Cash -€59,699
down €59,699 (-28.9%), from €206,868 to €147,169
mainly Investment in fixed assets (net) (-€333,994) and Receivables within one year (-€26,594)
- Receivables within one year +€26,594
up €26,594 (+101.0%), from €26,342 to €52,936
of which Other amounts receivable: +€19,818
- Current investments +€24,541
new in 2025: €24,541
- Debts after one year +€171,041
up €171,041 (+151.9%), from €112,615 to €283,656
- Reserves +€80,255
up €80,255 (+38.1%), from €210,509 to €290,764
- Tax, wage and social debts +€40,761
up €40,761 (+68.0%), from €59,974 to €100,735
- Current portion of long-term debt +€10,985
new in 2025: €10,985
- Trade debts +€10,897
up €10,897 (+378.5%), from €2,879 to €13,775
- Gross operating margin -€25,923
down €25,923 (-16.6%), from €156,570 to €130,647
- Depreciation +€10,212
up €10,212 (+141.6%), from €7,210 to €17,422
- Taxes -€9,588
down €9,588 (-31.7%), from €30,216 to €20,628
- Financial charges +€3,328
up €3,328 (+38.2%), from €8,704 to €12,032
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.
Cash bridge derived
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 | €393,470 | €700,915 | +€307,445 | +78.1% |
| Fixed assets | 21/28 | €159,697 | €476,270 | +€316,572 | +198.2% |
| Tangible fixed assets | 22/27 | €159,697 | €476,270 | +€316,572 | +198.2% |
| Land and buildings | 22 | €139,588 | €459,560 | +€319,972 | +229.2% |
| Plant, machinery and equipment | 23 | - | €2,533 | +€2,533 | |
| Furniture and vehicles | 24 | €20,109 | €14,177 | -€5,932 | -29.5% |
| Current assets | 29/58 | €233,773 | €224,646 | -€9,127 | -3.9% |
| Amounts receivable within one year | 40/41 | €26,342 | €52,936 | +€26,594 | +101.0% |
| Trade receivables | 40 | €26,342 | €33,118 | +€6,776 | +25.7% |
| Other amounts receivable | 41 | - | €19,818 | +€19,818 | |
| Current investments | 50/53 | - | €24,541 | +€24,541 | |
| Cash at bank and in hand | 54/58 | €206,868 | €147,169 | -€59,699 | -28.9% |
| Deferred charges and accrued income | 490/1 | €564 | - | -€564 | |
| Total equity and liabilities | 10/49 | €393,470 | €700,915 | +€307,445 | +78.1% |
| Equity | 10/15 | €211,509 | €291,764 | +€80,255 | +37.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €210,509 | €290,764 | +€80,255 | +38.1% |
| Distributable reserves | 133 | €210,509 | €290,764 | +€80,255 | +38.1% |
| Amounts payable | 17/49 | €181,961 | €409,151 | +€227,190 | +124.9% |
| Amounts payable after more than one year | 17 | €112,615 | €283,656 | +€171,041 | +151.9% |
| Financial debts | 170/4 | €112,615 | €283,656 | +€171,041 | +151.9% |
| Amounts payable within one year | 42/48 | €69,346 | €125,495 | +€56,149 | +81.0% |
| Current portion of amounts payable after more than one year | 42 | - | €10,985 | +€10,985 | |
| Trade debts | 44 | €2,879 | €13,775 | +€10,897 | +378.5% |
| Suppliers | 440/4 | €2,879 | €13,775 | +€10,897 | +378.5% |
| Taxes, remuneration and social security | 45 | €59,974 | €100,735 | +€40,761 | +68.0% |
| Taxes | 450/3 | €59,974 | €100,735 | +€40,761 | +68.0% |
| Other amounts payable | 47/48 | €6,493 | - | -€6,493 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,210 | €17,422 | +€10,212 | +141.6% |
| Other operating charges | 640/8 | €402 | €311 | -€92 | -22.8% |
| Gross operating margin | 9900 | €156,570 | €130,647 | -€25,923 | -16.6% |
| Operating profit (loss) | 9901 | €148,958 | €112,915 | -€36,044 | -24.2% |
| Financial charges | 65/66B | €8,704 | €12,032 | +€3,328 | +38.2% |
| Recurring financial charges | 65 | €8,704 | €12,032 | +€3,328 | +38.2% |
| Profit (loss) for the period before taxes | 9903 | €140,254 | €100,883 | -€39,372 | -28.1% |
| Income taxes | 67/77 | €30,216 | €20,628 | -€9,588 | -31.7% |
| Profit (loss) for the period | 9904 | €110,038 | €80,255 | -€29,783 | -27.1% |
| Profit (loss) for the period to be appropriated | 9905 | €110,038 | €80,255 | -€29,783 | -27.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.