Louwet Junior: what changed
What changed
Louwet Junior
NACE 25.110, Manufacture of metal structures and parts of structures
filed annual accounts (NBB)
Net result for the year
€1.1m
2024 · €1.6m-€560,404
Equity
€14.9m
2024 · €13.8m+€1.1m
Cash
€841,960
2024 · €2.7m-€1.8m
Balance sheet total
€15.1m
2024 · €14.2m+€947,584
Largest movements
Assets
- Tangible fixed assets +€3.3m
up €3.3m (+69.3%), from €4.7m to €8.0m
of which Land and buildings: +€3.7m
- Cash -€1.8m
down €1.8m (-68.7%), from €2.7m to €841,960
mainly Investment in fixed assets (net) (-€4.2m) and Deferred charges and accrued income (-€183,115)
- Receivables within one year -€584,051
down €584,051 (-93.9%), from €621,932 to €37,881
of which Trade receivables: -€522,314
- Deferred charges and accrued income +€183,115
up €183,115 (+860%), from €21,283 to €204,397
Equity and liabilities
- Reserves +€1.1m
up €1.1m (+7.9%), from €13.8m to €14.9m
of which Distributable reserves: +€1.1m
Income statement
- Depreciation +€537,855
up €537,855 (+136%), from €396,785 to €934,641
- Gross operating margin -€165,651
down €165,651 (-5.0%), from €3.3m to €3.2m
- Taxes -€150,656
down €150,656 (-27.5%), from €546,865 to €396,210
- Financial income +€109,296
up €109,296 (+75.9%), from €143,934 to €253,230
of which Financial income: +€125,281
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€1.6m
Gross operating margin
-€165,651
Staff costs
+€27,829
Depreciation
-€537,855
Other operating charges
-€10,696
Other operating items
-€122,564
Financial income
+€109,296
Financial charges
-€11,418
Taxes
+€150,656
Result 2025
€1.1m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€2.2m
Investment
-€4.1m
Financing
€0
Cash 2024
€2.7m
From operations (derived)
+€2.2m
Net result for the year
+€1.1m
Depreciation
+€934,641
Stocks and contracts
-€61,642
Receivables within one year
+€584,051
Deferred charges and accrued income
-€183,115
Trade debts
-€111,286
Tax, wage and social debts
-€33,727
Accrued charges and deferred income
+€3,960
Investment (derived)
-€4.1m
Investment in fixed assets (net)
-€4.2m
Current investments
+€129,708
Cash 2025
€841,960
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,158,213 | €15,105,797 | +€947,584 | +6.7% |
| Fixed assets | 21/28 | €4,703,704 | €7,964,234 | +€3.3m | +69.3% |
| Tangible fixed assets | 22/27 | €4,703,704 | €7,964,234 | +€3.3m | +69.3% |
| Land and buildings | 22 | €3,326,929 | €6,982,884 | +€3.7m | +110% |
| Plant, machinery and equipment | 23 | €33,058 | €19,629 | -€13,429 | -40.6% |
| Furniture and vehicles | 24 | €1,343,717 | €961,721 | -€381,996 | -28.4% |
| Current assets | 29/58 | €9,454,509 | €7,141,563 | -€2.3m | -24.5% |
| Stocks and contracts in progress | 3 | €46,524 | €108,166 | +€61,642 | +132% |
| Stocks | 30/36 | €46,524 | €108,166 | +€61,642 | +132% |
| Amounts receivable within one year | 40/41 | €621,932 | €37,881 | -€584,051 | -93.9% |
| Trade receivables | 40 | €531,972 | €9,658 | -€522,314 | -98.2% |
| Other amounts receivable | 41 | €89,960 | €28,223 | -€61,737 | -68.6% |
| Current investments | 50/53 | €6,078,867 | €5,949,160 | -€129,708 | -2.1% |
| Cash at bank and in hand | 54/58 | €2,685,903 | €841,960 | -€1.8m | -68.7% |
| Deferred charges and accrued income | 490/1 | €21,283 | €204,397 | +€183,115 | +860% |
| Total equity and liabilities | 10/49 | €14,158,213 | €15,105,797 | +€947,584 | +6.7% |
| Equity | 10/15 | €13,839,649 | €14,928,285 | +€1.1m | +7.9% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €13,777,675 | €14,866,311 | +€1.1m | +7.9% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Distributable reserves | 133 | €13,715,228 | €14,803,864 | +€1.1m | +7.9% |
| Amounts payable | 17/49 | €318,564 | €177,512 | -€141,052 | -44.3% |
| Amounts payable within one year | 42/48 | €318,564 | €173,552 | -€145,012 | -45.5% |
| Trade debts | 44 | €195,675 | €84,389 | -€111,286 | -56.9% |
| Suppliers | 440/4 | €195,675 | €84,389 | -€111,286 | -56.9% |
| Taxes, remuneration and social security | 45 | €116,838 | €83,111 | -€33,727 | -28.9% |
| Taxes | 450/3 | €43,903 | €25,167 | -€18,736 | -42.7% |
| Remuneration and social security | 454/9 | €72,935 | €57,944 | -€14,991 | -20.6% |
| Other amounts payable | 47/48 | €6,052 | €6,052 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €3,960 | +€3,960 | |
| Non-recurring operating income | 76A | €7,500 | €0 | -€7,500 | -100% |
| Remuneration, social security and pensions | 62 | €834,140 | €806,311 | -€27,829 | -3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €396,785 | €934,641 | +€537,855 | +136% |
| Other operating charges | 640/8 | €50,745 | €61,442 | +€10,696 | +21.1% |
| Non-recurring operating charges | 66A | €0 | €122,564 | +€122,564 | |
| Gross operating margin | 9900 | €3,338,980 | €3,173,330 | -€165,651 | -5.0% |
| Operating profit (loss) | 9901 | €2,057,310 | €1,248,372 | -€808,937 | -39.3% |
| Financial income | 75/76B | €143,934 | €253,230 | +€109,296 | +75.9% |
| Recurring financial income | 75 | €115,563 | €240,844 | +€125,281 | +108% |
| Non-recurring financial income | 76B | €28,371 | €12,386 | -€15,985 | -56.3% |
| Financial charges | 65/66B | €5,338 | €16,757 | +€11,418 | +214% |
| Recurring financial charges | 65 | €5,338 | €16,757 | +€11,418 | +214% |
| Profit (loss) for the period before taxes | 9903 | €2,195,906 | €1,484,846 | -€711,060 | -32.4% |
| Income taxes | 67/77 | €546,865 | €396,210 | -€150,656 | -27.5% |
| Profit (loss) for the period | 9904 | €1,649,040 | €1,088,636 | -€560,404 | -34.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,649,040 | €1,088,636 | -€560,404 | -34.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.