LOUVIMAR: 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.
LOUVIMAR
Largest movements
- Tangible fixed assets +€37,066
up €37,066 (+21.0%), from €176,101 to €213,168
of which Furniture and vehicles: +€39,138
- Cash -€27,414
down €27,414 (-14.3%), from €191,351 to €163,937
mainly Investment in fixed assets (net) (-€63,151) and Net result for the year (-€40,873)
- Current investments -€25,000
no longer reported in 2025 (was €25,000)
- Receivables within one year -€6,746
down €6,746 (-7.4%), from €91,288 to €84,542
of which Other amounts receivable: -€4,336
- Profit (loss) carried forward -€38,873
down €38,873, from €17,261 to -€21,611
- Debts after one year +€28,715
new in 2025: €28,715
- Current portion of long-term debt +€11,689
new in 2025: €11,689
- Tax, wage and social debts -€10,346
down €10,346 (-18.3%), from €56,685 to €46,339
of which Taxes: -€6,119
- Trade debts -€8,551
down €8,551 (-4.4%), from €194,888 to €186,336
- Staff costs +€17,974
up €17,974 (+6.7%), from €269,045 to €287,019
- Depreciation +€9,538
up €9,538 (+57.6%), from €16,547 to €26,085
- Gross operating margin +€2,993
up €2,993 (+1.1%), from €278,163 to €281,156
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 | €642,329 | €620,294 | -€22,035 | -3.4% |
| Fixed assets | 21/28 | €176,555 | €213,621 | +€37,066 | +21.0% |
| Tangible fixed assets | 22/27 | €176,101 | €213,168 | +€37,066 | +21.0% |
| Land and buildings | 22 | €161,096 | €152,292 | -€8,804 | -5.5% |
| Plant, machinery and equipment | 23 | €15,005 | €21,737 | +€6,732 | +44.9% |
| Furniture and vehicles | 24 | - | €39,138 | +€39,138 | |
| Financial fixed assets | 28 | €453 | €453 | = | 0.0% |
| Current assets | 29/58 | €465,774 | €406,673 | -€59,101 | -12.7% |
| Stocks and contracts in progress | 3 | €155,626 | €156,347 | +€721 | +0.5% |
| Stocks | 30/36 | €155,626 | €156,347 | +€721 | +0.5% |
| Amounts receivable within one year | 40/41 | €91,288 | €84,542 | -€6,746 | -7.4% |
| Trade receivables | 40 | €69,013 | €66,603 | -€2,410 | -3.5% |
| Other amounts receivable | 41 | €22,275 | €17,939 | -€4,336 | -19.5% |
| Current investments | 50/53 | €25,000 | - | -€25,000 | |
| Cash at bank and in hand | 54/58 | €191,351 | €163,937 | -€27,414 | -14.3% |
| Deferred charges and accrued income | 490/1 | €2,510 | €1,847 | -€663 | -26.4% |
| Total equity and liabilities | 10/49 | €642,329 | €620,294 | -€22,035 | -3.4% |
| Equity | 10/15 | €147,721 | €106,849 | -€40,873 | -27.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €111,860 | €109,860 | -€2,000 | -1.8% |
| 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 | €110,000 | €108,000 | -€2,000 | -1.8% |
| Profit (loss) carried forward | 14 | €17,261 | -€21,611 | -€38,873 | |
| Amounts payable | 17/49 | €494,607 | €513,445 | +€18,838 | +3.8% |
| Amounts payable after more than one year | 17 | - | €28,715 | +€28,715 | |
| Financial debts | 170/4 | - | €28,715 | +€28,715 | |
| Amounts payable within one year | 42/48 | €494,607 | €484,730 | -€9,877 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | - | €11,689 | +€11,689 | |
| Trade debts | 44 | €194,888 | €186,336 | -€8,551 | -4.4% |
| Suppliers | 440/4 | €194,888 | €186,336 | -€8,551 | -4.4% |
| Taxes, remuneration and social security | 45 | €56,685 | €46,339 | -€10,346 | -18.3% |
| Taxes | 450/3 | €7,639 | €1,521 | -€6,119 | -80.1% |
| Remuneration and social security | 454/9 | €49,046 | €44,819 | -€4,227 | -8.6% |
| Other amounts payable | 47/48 | €243,035 | €240,365 | -€2,669 | -1.1% |
| Non-recurring operating income | 76A | - | €5,000 | +€5,000 | |
| Remuneration, social security and pensions | 62 | €269,045 | €287,019 | +€17,974 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,547 | €26,085 | +€9,538 | +57.6% |
| Other operating charges | 640/8 | €4,908 | €5,868 | +€959 | +19.5% |
| Non-recurring operating charges | 66A | €350 | - | -€350 | |
| Gross operating margin | 9900 | €278,163 | €281,156 | +€2,993 | +1.1% |
| Operating profit (loss) | 9901 | -€12,687 | -€37,815 | -€25,128 | -198% |
| Financial income | 75/76B | €1,140 | €578 | -€562 | -49.3% |
| Recurring financial income | 75 | €1,140 | €18 | -€1,122 | -98.4% |
| Non-recurring financial income | 76B | - | €560 | +€560 | |
| Financial charges | 65/66B | €1,846 | €2,723 | +€878 | +47.6% |
| Recurring financial charges | 65 | €1,846 | €2,723 | +€878 | +47.6% |
| Profit (loss) for the period before taxes | 9903 | -€13,393 | -€39,960 | -€26,567 | -198% |
| Income taxes | 67/77 | €990 | €912 | -€77 | -7.8% |
| Profit (loss) for the period | 9904 | -€14,383 | -€40,873 | -€26,490 | -184% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,383 | -€40,873 | -€26,490 | -184% |
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.