Louthi: 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.
Louthi
Largest movements
- Current investments +€183,602
up €183,602 (+94.0%), from €195,257 to €378,858
- Tangible fixed assets -€148,110
down €148,110 (-47.6%), from €310,974 to €162,864
of which Land and buildings: -€143,254
- Cash -€53,191
down €53,191 (-70.2%), from €75,807 to €22,616
mainly Current investments (-€183,602) and Debts after one year (-€65,756)
- Reserves +€92,161
up €92,161 (+29.7%), from €309,880 to €402,041
- Debts after one year -€65,756
down €65,756 (-29.5%), from €222,650 to €156,894
- Trade debts -€20,543
down €20,543 (-100%), from €20,543 to €0
- Tax, wage and social debts -€18,888
down €18,888 (-41.1%), from €45,902 to €27,013
- Gross operating margin -€12,331
down €12,331 (-7.8%), from €158,673 to €146,342
- Depreciation -€4,875
down €4,875 (-33.4%), from €14,602 to €9,727
- Financial income +€4,819
up €4,819 (+788%), from €611 to €5,430
- Taxes -€3,359
down €3,359 (-6.5%), from €51,281 to €47,922
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 | €607,074 | €594,049 | -€13,026 | -2.1% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €310,974 | €162,864 | -€148,110 | -47.6% |
| Tangible fixed assets | 22/27 | €310,974 | €162,864 | -€148,110 | -47.6% |
| Land and buildings | 22 | €281,529 | €138,275 | -€143,254 | -50.9% |
| Furniture and vehicles | 24 | €11,446 | €6,589 | -€4,856 | -42.4% |
| Other tangible fixed assets | 26 | €18,000 | €18,000 | = | 0.0% |
| Current assets | 29/58 | €296,100 | €431,184 | +€135,084 | +45.6% |
| Amounts receivable within one year | 40/41 | €21,584 | €26,453 | +€4,870 | +22.6% |
| Trade receivables | 40 | €21,584 | €26,453 | +€4,870 | +22.6% |
| Current investments | 50/53 | €195,257 | €378,858 | +€183,602 | +94.0% |
| Cash at bank and in hand | 54/58 | €75,807 | €22,616 | -€53,191 | -70.2% |
| Deferred charges and accrued income | 490/1 | €3,453 | €3,257 | -€196 | -5.7% |
| Total equity and liabilities | 10/49 | €607,074 | €594,049 | -€13,026 | -2.1% |
| Equity | 10/15 | €316,080 | €408,241 | +€92,161 | +29.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €309,880 | €402,041 | +€92,161 | +29.7% |
| Distributable reserves | 133 | €309,880 | €402,041 | +€92,161 | +29.7% |
| Amounts payable | 17/49 | €290,995 | €185,807 | -€105,187 | -36.1% |
| Amounts payable after more than one year | 17 | €222,650 | €156,894 | -€65,756 | -29.5% |
| Other amounts payable | 178/9 | €222,650 | €156,894 | -€65,756 | -29.5% |
| Amounts payable within one year | 42/48 | €68,095 | €28,663 | -€39,432 | -57.9% |
| Trade debts | 44 | €20,543 | €0 | -€20,543 | -100% |
| Suppliers | 440/4 | €20,543 | €0 | -€20,543 | -100% |
| Taxes, remuneration and social security | 45 | €45,902 | €27,013 | -€18,888 | -41.1% |
| Taxes | 450/3 | €45,902 | €27,013 | -€18,888 | -41.1% |
| Other amounts payable | 47/48 | €1,650 | €1,650 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €250 | €250 | = | 0.0% |
| Non-recurring operating income | 76A | - | €73,267 | +€73,267 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,602 | €9,727 | -€4,875 | -33.4% |
| Other operating charges | 640/8 | €3,016 | €1,879 | -€1,137 | -37.7% |
| Gross operating margin | 9900 | €158,673 | €146,342 | -€12,331 | -7.8% |
| Operating profit (loss) | 9901 | €141,054 | €134,736 | -€6,318 | -4.5% |
| Financial income | 75/76B | €611 | €5,430 | +€4,819 | +788% |
| Recurring financial income | 75 | €611 | €5,430 | +€4,819 | +788% |
| Financial charges | 65/66B | €65 | €82 | +€17 | +26.9% |
| Recurring financial charges | 65 | €65 | €82 | +€17 | +26.9% |
| Profit (loss) for the period before taxes | 9903 | €141,601 | €140,084 | -€1,517 | -1.1% |
| Income taxes | 67/77 | €51,281 | €47,922 | -€3,359 | -6.5% |
| Profit (loss) for the period | 9904 | €90,320 | €92,161 | +€1,842 | +2.0% |
| Profit (loss) for the period to be appropriated | 9905 | €90,320 | €92,161 | +€1,842 | +2.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.