LOUVREX 50: 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.
LOUVREX 50
Largest movements
- Receivables after one year -€50,000
down €50,000 (-71.4%), from €70,000 to €20,000
- Receivables within one year -€7,042
down €7,042 (-20.9%), from €33,760 to €26,718
of which Other amounts receivable: -€8,887
- Cash -€5,227
down €5,227 (-48.2%), from €10,841 to €5,613
mainly Tax, wage and social debts (-€22,444) and Current portion of long-term debt (-€15,270)
- Tangible fixed assets +€3,184
up €3,184 (+61.7%), from €5,159 to €8,343
of which Other tangible fixed assets: +€3,504
- Deferred charges and accrued income +€2,635
up €2,635 (+3377.6%), from €78 to €2,713
- Tax, wage and social debts -€22,444
down €22,444 (-32.3%), from €69,447 to €47,002
of which Taxes: -€24,391
- Current portion of long-term debt -€15,270
no longer reported in 2025 (was €15,270)
- Profit (loss) carried forward -€13,662
down €13,662 (-16.9%), from -€80,936 to -€94,599
- Other debts -€5,341
down €5,341 (-6.4%), from €83,185 to €77,844
- Trade debts +€1,821
up €1,821 (+12.1%), from €14,995 to €16,817
- Depreciation -€39,995
down €39,995 (-97.3%), from €41,105 to €1,111
- Financial charges -€19,745
down €19,745 (-72.4%), from €27,258 to €7,514
- Gross operating margin -€10,972
down €10,972 (-14.2%), from €77,001 to €66,029
- Staff costs -€3,055
down €3,055 (-4.2%), from €72,050 to €68,995
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 | €124,242 | €67,615 | -€56,628 | -45.6% |
| Fixed assets | 21/28 | €5,159 | €8,343 | +€3,184 | +61.7% |
| Tangible fixed assets | 22/27 | €5,159 | €8,343 | +€3,184 | +61.7% |
| Plant, machinery and equipment | 23 | €160 | - | -€160 | |
| Furniture and vehicles | 24 | €629 | €469 | -€160 | -25.5% |
| Other tangible fixed assets | 26 | €4,370 | €7,874 | +€3,504 | +80.2% |
| Current assets | 29/58 | €119,084 | €59,272 | -€59,812 | -50.2% |
| Amounts receivable after more than one year | 29 | €70,000 | €20,000 | -€50,000 | -71.4% |
| Other amounts receivable | 291 | €70,000 | €20,000 | -€50,000 | -71.4% |
| Stocks and contracts in progress | 3 | €4,405 | €4,228 | -€177 | -4.0% |
| Stocks | 30/36 | €4,405 | €4,228 | -€177 | -4.0% |
| Amounts receivable within one year | 40/41 | €33,760 | €26,718 | -€7,042 | -20.9% |
| Trade receivables | 40 | €4,659 | €6,504 | +€1,845 | +39.6% |
| Other amounts receivable | 41 | €29,101 | €20,214 | -€8,887 | -30.5% |
| Cash at bank and in hand | 54/58 | €10,841 | €5,613 | -€5,227 | -48.2% |
| Deferred charges and accrued income | 490/1 | €78 | €2,713 | +€2,635 | +3377.6% |
| Total equity and liabilities | 10/49 | €124,242 | €67,615 | -€56,628 | -45.6% |
| Equity | 10/15 | -€60,486 | -€74,149 | -€13,662 | -22.6% |
| Contributions | 10/11 | €18,591 | €18,591 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€80,936 | -€94,599 | -€13,662 | -16.9% |
| Amounts payable | 17/49 | €184,728 | €141,763 | -€42,965 | -23.3% |
| Amounts payable within one year | 42/48 | €184,228 | €141,663 | -€42,565 | -23.1% |
| Current portion of amounts payable after more than one year | 42 | €15,270 | - | -€15,270 | |
| Financial debts | 43 | €1,331 | - | -€1,331 | |
| Credit institutions | 430/8 | €1,331 | - | -€1,331 | |
| Trade debts | 44 | €14,995 | €16,817 | +€1,821 | +12.1% |
| Suppliers | 440/4 | €14,995 | €16,817 | +€1,821 | +12.1% |
| Taxes, remuneration and social security | 45 | €69,447 | €47,002 | -€22,444 | -32.3% |
| Taxes | 450/3 | €34,820 | €10,429 | -€24,391 | -70.0% |
| Remuneration and social security | 454/9 | €34,626 | €36,573 | +€1,947 | +5.6% |
| Other amounts payable | 47/48 | €83,185 | €77,844 | -€5,341 | -6.4% |
| Accrued charges and deferred income | 492/3 | €500 | €100 | -€400 | -80.0% |
| Remuneration, social security and pensions | 62 | €72,050 | €68,995 | -€3,055 | -4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,105 | €1,111 | -€39,995 | -97.3% |
| Other operating charges | 640/8 | €2,345 | €1,991 | -€354 | -15.1% |
| Gross operating margin | 9900 | €77,001 | €66,029 | -€10,972 | -14.2% |
| Operating profit (loss) | 9901 | -€38,499 | -€6,067 | +€32,432 | +84.2% |
| Financial income | 75/76B | €363 | €136 | -€228 | -62.7% |
| Recurring financial income | 75 | €363 | €136 | -€228 | -62.7% |
| Financial charges | 65/66B | €27,258 | €7,514 | -€19,745 | -72.4% |
| Recurring financial charges | 65 | €27,258 | €7,514 | -€19,745 | -72.4% |
| Profit (loss) for the period before taxes | 9903 | -€65,395 | -€13,445 | +€51,949 | +79.4% |
| Income taxes | 67/77 | €178 | €217 | +€39 | +21.6% |
| Profit (loss) for the period | 9904 | -€65,573 | -€13,662 | +€51,911 | +79.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€65,573 | -€13,662 | +€51,911 | +79.2% |
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 12 October 2026 via checked.be.