LOVAGO VOSSELAAR: 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.
LOVAGO VOSSELAAR
Largest movements
- Tangible fixed assets +€68,495
up €68,495 (+952%), from €7,194 to €75,690
of which Furniture and vehicles: +€52,252
- Receivables within one year +€12,099
up €12,099 (+20.9%), from €57,995 to €70,094
of which Trade receivables: +€15,069
- Cash -€6,118
down €6,118 (-12.7%), from €48,063 to €41,945
mainly Investment in fixed assets (net) (-€81,679) and Receivables within one year (-€12,099)
- Deferred charges and accrued income +€5,419
up €5,419 (+25.9%), from €20,958 to €26,377
- Reserves +€30,971
up €30,971 (+40.6%), from €76,242 to €107,213
- Debts after one year +€28,970
new in 2025: €28,970
- Current portion of long-term debt +€12,172
new in 2025: €12,172
- Trade debts +€6,009
up €6,009 (+87.0%), from €6,906 to €12,915
- Gross operating margin -€49,273
down €49,273 (-15.6%), from €314,965 to €265,692
- Depreciation +€12,484
up €12,484 (+1,783%), from €700 to €13,184
- Taxes -€10,780
down €10,780 (-56.5%), from €19,075 to €8,295
- Staff costs -€6,473
down €6,473 (-2.9%), from €219,620 to €213,147
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 | €134,211 | €214,106 | +€79,895 | +59.5% |
| Fixed assets | 21/28 | €7,194 | €75,690 | +€68,495 | +952% |
| Tangible fixed assets | 22/27 | €7,194 | €75,690 | +€68,495 | +952% |
| Land and buildings | 22 | - | €5,107 | +€5,107 | |
| Plant, machinery and equipment | 23 | - | €11,136 | +€11,136 | |
| Furniture and vehicles | 24 | €7,194 | €59,446 | +€52,252 | +726% |
| Current assets | 29/58 | €127,017 | €138,416 | +€11,400 | +9.0% |
| Amounts receivable within one year | 40/41 | €57,995 | €70,094 | +€12,099 | +20.9% |
| Trade receivables | 40 | €5,901 | €20,970 | +€15,069 | +255% |
| Other amounts receivable | 41 | €52,094 | €49,124 | -€2,970 | -5.7% |
| Cash at bank and in hand | 54/58 | €48,063 | €41,945 | -€6,118 | -12.7% |
| Deferred charges and accrued income | 490/1 | €20,958 | €26,377 | +€5,419 | +25.9% |
| Total equity and liabilities | 10/49 | €134,211 | €214,106 | +€79,895 | +59.5% |
| Equity | 10/15 | €77,242 | €108,213 | +€30,971 | +40.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €76,242 | €107,213 | +€30,971 | +40.6% |
| Distributable reserves | 133 | €76,242 | €107,213 | +€30,971 | +40.6% |
| Amounts payable | 17/49 | €56,969 | €105,893 | +€48,924 | +85.9% |
| Amounts payable after more than one year | 17 | - | €28,970 | +€28,970 | |
| Financial debts | 170/4 | - | €28,970 | +€28,970 | |
| Amounts payable within one year | 42/48 | €56,969 | €76,923 | +€19,954 | +35.0% |
| Current portion of amounts payable after more than one year | 42 | - | €12,172 | +€12,172 | |
| Trade debts | 44 | €6,906 | €12,915 | +€6,009 | +87.0% |
| Suppliers | 440/4 | €6,906 | €12,915 | +€6,009 | +87.0% |
| Taxes, remuneration and social security | 45 | €50,062 | €51,836 | +€1,773 | +3.5% |
| Taxes | 450/3 | €22,765 | €30,949 | +€8,184 | +35.9% |
| Remuneration and social security | 454/9 | €27,298 | €20,887 | -€6,410 | -23.5% |
| Remuneration, social security and pensions | 62 | €219,620 | €213,147 | -€6,473 | -2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €700 | €13,184 | +€12,484 | +1,783% |
| Other operating charges | 640/8 | €1,682 | €1,632 | -€51 | -3.0% |
| Gross operating margin | 9900 | €314,965 | €265,692 | -€49,273 | -15.6% |
| Operating profit (loss) | 9901 | €92,964 | €37,730 | -€55,234 | -59.4% |
| Financial income | 75/76B | €2,412 | €2,817 | +€405 | +16.8% |
| Recurring financial income | 75 | €2,412 | €2,817 | +€405 | +16.8% |
| Financial charges | 65/66B | €59 | €1,281 | +€1,222 | +2,080% |
| Recurring financial charges | 65 | €59 | €1,281 | +€1,222 | +2,080% |
| Profit (loss) for the period before taxes | 9903 | €95,317 | €39,266 | -€56,051 | -58.8% |
| Income taxes | 67/77 | €19,075 | €8,295 | -€10,780 | -56.5% |
| Profit (loss) for the period | 9904 | €76,242 | €30,971 | -€45,272 | -59.4% |
| Profit (loss) for the period to be appropriated | 9905 | €76,242 | €30,971 | -€45,272 | -59.4% |
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 23 October 2026 via checked.be.