LOUVAL: 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.
LOUVAL
Largest movements
- Receivables after one year +€177,000
up €177,000 (+51.0%), from €347,000 to €524,000
- Current investments -€93,115
down €93,115 (-61.0%), from €152,758 to €59,643
- Tangible fixed assets -€18,328
down €18,328 (-4.8%), from €385,713 to €367,385
of which Land and buildings: -€20,192
- Other debts +€80,947
up €80,947 (+59.5%), from €136,083 to €217,030
- Current portion of long-term debt -€10,889
down €10,889 (-68.5%), from €15,896 to €5,007
- Gross operating margin -€46,263
down €46,263 (-62.7%), from €73,763 to €27,500
- Financial charges -€5,927
down €5,927 (-61.7%), from €9,605 to €3,677
- Financial income -€3,631
down €3,631 (-31.3%), from €11,616 to €7,985
- Depreciation -€2,545
down €2,545 (-10.3%), from €24,670 to €22,125
- Taxes -€1,864
down €1,864 (-51.1%), from €3,651 to €1,787
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 | €1,023,575 | €1,084,069 | +€60,495 | +5.9% |
| Fixed assets | 21/28 | €390,713 | €372,385 | -€18,328 | -4.7% |
| Tangible fixed assets | 22/27 | €385,713 | €367,385 | -€18,328 | -4.8% |
| Land and buildings | 22 | €370,522 | €350,330 | -€20,192 | -5.4% |
| Furniture and vehicles | 24 | €15,191 | €17,055 | +€1,864 | +12.3% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €632,862 | €711,685 | +€78,823 | +12.5% |
| Amounts receivable after more than one year | 29 | €347,000 | €524,000 | +€177,000 | +51.0% |
| Other amounts receivable | 291 | €347,000 | €524,000 | +€177,000 | +51.0% |
| Amounts receivable within one year | 40/41 | €112,586 | €114,320 | +€1,734 | +1.5% |
| Trade receivables | 40 | €112,488 | €114,320 | +€1,832 | +1.6% |
| Other amounts receivable | 41 | €98 | - | -€98 | |
| Current investments | 50/53 | €152,758 | €59,643 | -€93,115 | -61.0% |
| Cash at bank and in hand | 54/58 | €16,723 | €11,198 | -€5,526 | -33.0% |
| Deferred charges and accrued income | 490/1 | €3,794 | €2,525 | -€1,270 | -33.5% |
| Total equity and liabilities | 10/49 | €1,023,575 | €1,084,069 | +€60,495 | +5.9% |
| Equity | 10/15 | €852,909 | €855,810 | +€2,900 | +0.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €834,309 | €834,309 | = | 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 | €832,449 | €832,449 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €2,900 | +€2,900 | |
| Amounts payable | 17/49 | €170,666 | €228,260 | +€57,594 | +33.7% |
| Amounts payable after more than one year | 17 | €3,756 | - | -€3,756 | |
| Financial debts | 170/4 | €3,756 | - | -€3,756 | |
| Amounts payable within one year | 42/48 | €158,917 | €224,739 | +€65,822 | +41.4% |
| Current portion of amounts payable after more than one year | 42 | €15,896 | €5,007 | -€10,889 | -68.5% |
| Trade debts | 44 | €156 | €443 | +€288 | +185% |
| Suppliers | 440/4 | €156 | €443 | +€288 | +185% |
| Taxes, remuneration and social security | 45 | €6,782 | €2,258 | -€4,524 | -66.7% |
| Taxes | 450/3 | €6,782 | €2,258 | -€4,524 | -66.7% |
| Other amounts payable | 47/48 | €136,083 | €217,030 | +€80,947 | +59.5% |
| Accrued charges and deferred income | 492/3 | €7,992 | €3,521 | -€4,472 | -56.0% |
| Non-recurring operating income | 76A | - | €3,952 | +€3,952 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,670 | €22,125 | -€2,545 | -10.3% |
| Other operating charges | 640/8 | €5,747 | €4,995 | -€752 | -13.1% |
| Non-recurring operating charges | 66A | €10,079 | - | -€10,079 | |
| Gross operating margin | 9900 | €73,763 | €27,500 | -€46,263 | -62.7% |
| Operating profit (loss) | 9901 | €33,267 | €380 | -€32,888 | -98.9% |
| Financial income | 75/76B | €11,616 | €7,985 | -€3,631 | -31.3% |
| Recurring financial income | 75 | €11,616 | €7,985 | -€3,631 | -31.3% |
| Financial charges | 65/66B | €9,605 | €3,677 | -€5,927 | -61.7% |
| Recurring financial charges | 65 | €9,605 | €3,677 | -€5,927 | -61.7% |
| Profit (loss) for the period before taxes | 9903 | €35,279 | €4,687 | -€30,592 | -86.7% |
| Income taxes | 67/77 | €3,651 | €1,787 | -€1,864 | -51.1% |
| Profit (loss) for the period | 9904 | €31,628 | €2,900 | -€28,728 | -90.8% |
| Profit (loss) for the period to be appropriated | 9905 | €31,628 | €2,900 | -€28,728 | -90.8% |
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 14 October 2026 via checked.be.