Louwi Baco: what changed
Two fiscal 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.
Louwi Baco
Largest movements
- Cash +€17,736
up €17,736 (+22.9%), from €77,376 to €95,113
mainly Net result for the year (+€26,567) and Tax, wage and social debts (+€8,366)
- Stocks and contracts -€5,800
down €5,800 (-38.2%), from €15,172 to €9,372
- Current investments +€4,663
up €4,663 (+32.3%), from €14,423 to €19,086
- Receivables within one year +€3,877
up €3,877 (+21.8%), from €17,809 to €21,686
of which Trade receivables: +€2,791
- Reserves +€21,800
up €21,800 (+24.5%), from €88,902 to €110,702
- Trade debts -€13,693
down €13,693 (-34.0%), from €40,234 to €26,542
- Tax, wage and social debts +€8,366
up €8,366 (+663.7%), from €1,260 to €9,626
- Other debts +€4,767
new in 2025: €4,767
- Gross operating margin -€2,765
down €2,765 (-5.6%), from €49,577 to €46,812
- Taxes -€666
down €666 (-4.1%), from €16,270 to €15,604
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 | €131,446 | €152,739 | +€21,293 | +16.2% |
| Fixed assets | 21/28 | €4,189 | €3,939 | -€250 | -6.0% |
| Intangible fixed assets | 21 | €533 | €133 | -€400 | -75.1% |
| Tangible fixed assets | 22/27 | €3,657 | €3,807 | +€150 | +4.1% |
| Plant, machinery and equipment | 23 | €3,657 | €2,677 | -€980 | -26.8% |
| Furniture and vehicles | 24 | - | €1,130 | +€1,130 | |
| Current assets | 29/58 | €127,257 | €148,799 | +€21,543 | +16.9% |
| Stocks and contracts in progress | 3 | €15,172 | €9,372 | -€5,800 | -38.2% |
| Stocks | 30/36 | €15,172 | €9,372 | -€5,800 | -38.2% |
| Amounts receivable within one year | 40/41 | €17,809 | €21,686 | +€3,877 | +21.8% |
| Trade receivables | 40 | €13,037 | €15,828 | +€2,791 | +21.4% |
| Other amounts receivable | 41 | €4,772 | €5,858 | +€1,086 | +22.8% |
| Current investments | 50/53 | €14,423 | €19,086 | +€4,663 | +32.3% |
| Cash at bank and in hand | 54/58 | €77,376 | €95,113 | +€17,736 | +22.9% |
| Deferred charges and accrued income | 490/1 | €2,476 | €3,543 | +€1,067 | +43.1% |
| Total equity and liabilities | 10/49 | €131,446 | €152,739 | +€21,293 | +16.2% |
| Equity | 10/15 | €89,902 | €111,702 | +€21,800 | +24.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €88,902 | €110,702 | +€21,800 | +24.5% |
| Distributable reserves | 133 | €88,902 | €110,702 | +€21,800 | +24.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €41,545 | €41,037 | -€507 | -1.2% |
| Amounts payable within one year | 42/48 | €41,545 | €41,037 | -€507 | -1.2% |
| Financial debts | 43 | €50 | €103 | +€53 | +106.3% |
| Credit institutions | 430/8 | €50 | €103 | +€53 | +106.3% |
| Trade debts | 44 | €40,234 | €26,542 | -€13,693 | -34.0% |
| Suppliers | 440/4 | €40,234 | €26,542 | -€13,693 | -34.0% |
| Taxes, remuneration and social security | 45 | €1,260 | €9,626 | +€8,366 | +663.7% |
| Taxes | 450/3 | €1,260 | €9,626 | +€8,366 | +663.7% |
| Other amounts payable | 47/48 | - | €4,767 | +€4,767 | |
| Non-recurring operating income | 76A | €38 | €1,601 | +€1,563 | +4068.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,380 | €1,761 | +€381 | +27.6% |
| Other operating charges | 640/8 | €731 | €1,099 | +€368 | +50.4% |
| Gross operating margin | 9900 | €49,577 | €46,812 | -€2,765 | -5.6% |
| Operating profit (loss) | 9901 | €47,466 | €43,952 | -€3,514 | -7.4% |
| Financial income | 75/76B | €270 | €612 | +€342 | +126.4% |
| Recurring financial income | 75 | €270 | €612 | +€342 | +126.4% |
| Financial charges | 65/66B | €2,123 | €2,393 | +€271 | +12.8% |
| Recurring financial charges | 65 | €2,123 | €2,393 | +€271 | +12.8% |
| Profit (loss) for the period before taxes | 9903 | €45,613 | €42,170 | -€3,443 | -7.5% |
| Income taxes | 67/77 | €16,270 | €15,604 | -€666 | -4.1% |
| Profit (loss) for the period | 9904 | €29,343 | €26,567 | -€2,777 | -9.5% |
| Profit (loss) for the period to be appropriated | 9905 | €29,343 | €26,567 | -€2,777 | -9.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.