LOUVRANGES BROADCAST: 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.
LOUVRANGES BROADCAST
Largest movements
- Receivables within one year +€70,451
up €70,451 (+332%), from €21,202 to €91,652
of which Other amounts receivable: +€43,854
- Deferred charges and accrued income +€33,572
up €33,572 (+49.0%), from €68,570 to €102,142
- Cash +€18,023
up €18,023 (+199%), from €9,067 to €27,090
mainly Current portion of long-term debt (+€120,000) and Depreciation (+€14,223)
- Tangible fixed assets -€13,164
down €13,164 (-45.8%), from €28,751 to €15,587
- Current portion of long-term debt +€120,000
up €120,000 (+240%), from €50,000 to €170,000
- Accrued charges and deferred income -€11,497
no longer reported in 2025 (was €11,497)
- Trade debts +€11,439
up €11,439 (+78.3%), from €14,603 to €26,042
- Tax, wage and social debts -€5,629
down €5,629 (-49.9%), from €11,271 to €5,642
of which Taxes: -€6,275
- Other debts -€5,274
down €5,274 (-44.4%), from €11,868 to €6,594
- Gross operating margin +€5,244
up €5,244 (+8.8%), from €59,298 to €64,541
- Staff costs +€5,078
up €5,078 (+13.3%), from €38,152 to €43,231
- Financial charges +€1,736
up €1,736 (+43.1%), from €4,026 to €5,761
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 | €127,701 | €236,582 | +€108,881 | +85.3% |
| Fixed assets | 21/28 | €28,862 | €15,698 | -€13,164 | -45.6% |
| Tangible fixed assets | 22/27 | €28,751 | €15,587 | -€13,164 | -45.8% |
| Furniture and vehicles | 24 | €28,751 | €15,587 | -€13,164 | -45.8% |
| Financial fixed assets | 28 | €111 | €111 | = | 0.0% |
| Current assets | 29/58 | €98,839 | €220,884 | +€122,046 | +123% |
| Amounts receivable within one year | 40/41 | €21,202 | €91,652 | +€70,451 | +332% |
| Trade receivables | 40 | €21,177 | €47,774 | +€26,597 | +126% |
| Other amounts receivable | 41 | €25 | €43,879 | +€43,854 | +175,414% |
| Cash at bank and in hand | 54/58 | €9,067 | €27,090 | +€18,023 | +199% |
| Deferred charges and accrued income | 490/1 | €68,570 | €102,142 | +€33,572 | +49.0% |
| Total equity and liabilities | 10/49 | €127,701 | €236,582 | +€108,881 | +85.3% |
| Equity | 10/15 | €28,462 | €28,304 | -€158 | -0.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,848 | €1,848 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,848 | €1,848 | = | 0.0% |
| Legal reserve | 130 | €1,848 | €1,848 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,022 | €7,865 | -€158 | -2.0% |
| Amounts payable | 17/49 | €99,238 | €208,278 | +€109,039 | +110% |
| Amounts payable within one year | 42/48 | €87,742 | €208,278 | +€120,536 | +137% |
| Current portion of amounts payable after more than one year | 42 | €50,000 | €170,000 | +€120,000 | +240% |
| Trade debts | 44 | €14,603 | €26,042 | +€11,439 | +78.3% |
| Suppliers | 440/4 | €14,603 | €26,042 | +€11,439 | +78.3% |
| Taxes, remuneration and social security | 45 | €11,271 | €5,642 | -€5,629 | -49.9% |
| Taxes | 450/3 | €6,275 | - | -€6,275 | |
| Remuneration and social security | 454/9 | €4,996 | €5,642 | +€646 | +12.9% |
| Other amounts payable | 47/48 | €11,868 | €6,594 | -€5,274 | -44.4% |
| Accrued charges and deferred income | 492/3 | €11,497 | - | -€11,497 | |
| Remuneration, social security and pensions | 62 | €38,152 | €43,231 | +€5,078 | +13.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,353 | €14,223 | -€130 | -0.9% |
| Other operating charges | 640/8 | €1,301 | €1,205 | -€96 | -7.4% |
| Non-recurring operating charges | 66A | €163 | €63 | -€100 | -61.1% |
| Gross operating margin | 9900 | €59,298 | €64,541 | +€5,244 | +8.8% |
| Operating profit (loss) | 9901 | €5,329 | €5,820 | +€491 | +9.2% |
| Financial income | 75/76B | €2 | €9 | +€6 | +285% |
| Recurring financial income | 75 | €2 | €9 | +€6 | +285% |
| Financial charges | 65/66B | €4,026 | €5,761 | +€1,736 | +43.1% |
| Recurring financial charges | 65 | €4,026 | €5,761 | +€1,736 | +43.1% |
| Profit (loss) for the period before taxes | 9903 | €1,305 | €67 | -€1,238 | -94.8% |
| Income taxes | 67/77 | €303 | €225 | -€78 | -25.8% |
| Profit (loss) for the period | 9904 | €1,002 | -€158 | -€1,160 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,002 | -€158 | -€1,160 |
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 27 October 2026 via checked.be.