LOVAL: 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.
LOVAL
Largest movements
- Receivables within one year -€34,058
down €34,058 (-58.6%), from €58,166 to €24,109
of which Trade receivables: -€34,026
- Tangible fixed assets -€9,612
down €9,612 (-1.6%), from €591,626 to €582,014
of which Land and buildings: -€24,268
- Reserves -€33,901
down €33,901 (-17.7%), from €191,074 to €157,173
of which Distributable reserves: -€30,901
- Debts after one year -€28,713
down €28,713 (-9.7%), from €296,600 to €267,888
- Tax, wage and social debts +€17,821
up €17,821 (+661.1%), from €2,695 to €20,516
of which Taxes: +€17,821
- Gross operating margin +€20,270
up €20,270, from -€11,241 to €9,029
- Depreciation +€3,782
up €3,782 (+14.9%), from €25,365 to €29,147
- Financial charges +€992
up €992 (+9.1%), from €10,862 to €11,855
- Other operating charges +€120
up €120 (+7.5%), from €1,603 to €1,723
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 | €657,312 | €615,942 | -€41,370 | -6.3% |
| Fixed assets | 21/28 | €591,716 | €582,104 | -€9,612 | -1.6% |
| Tangible fixed assets | 22/27 | €591,626 | €582,014 | -€9,612 | -1.6% |
| Land and buildings | 22 | €586,882 | €562,614 | -€24,268 | -4.1% |
| Furniture and vehicles | 24 | €4,744 | €19,400 | +€14,656 | +308.9% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €65,596 | €33,838 | -€31,758 | -48.4% |
| Amounts receivable within one year | 40/41 | €58,166 | €24,109 | -€34,058 | -58.6% |
| Trade receivables | 40 | €58,135 | €24,109 | -€34,026 | -58.5% |
| Other amounts receivable | 41 | €32 | €0 | -€32 | -100.0% |
| Cash at bank and in hand | 54/58 | €5,307 | €6,381 | +€1,074 | +20.2% |
| Deferred charges and accrued income | 490/1 | €2,123 | €3,348 | +€1,225 | +57.7% |
| Total equity and liabilities | 10/49 | €657,312 | €615,942 | -€41,370 | -6.3% |
| Equity | 10/15 | €221,074 | €187,173 | -€33,901 | -15.3% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €191,074 | €157,173 | -€33,901 | -17.7% |
| Non-distributable reserves | 130/1 | €3,000 | €0 | -€3,000 | -100.0% |
| Reserves not available under the articles | 1311 | €3,000 | €0 | -€3,000 | -100.0% |
| Tax-exempt reserves | 132 | €444 | €444 | = | 0.0% |
| Distributable reserves | 133 | €187,630 | €156,729 | -€30,901 | -16.5% |
| Amounts payable | 17/49 | €436,238 | €428,769 | -€7,469 | -1.7% |
| Amounts payable after more than one year | 17 | €296,600 | €267,888 | -€28,713 | -9.7% |
| Financial debts | 170/4 | €296,600 | €267,888 | -€28,713 | -9.7% |
| Amounts payable within one year | 42/48 | €131,744 | €150,914 | +€19,170 | +14.6% |
| Current portion of amounts payable after more than one year | 42 | €28,397 | €28,713 | +€315 | +1.1% |
| Financial debts | 43 | €1,255 | €2,562 | +€1,306 | +104.1% |
| Credit institutions | 430/8 | €1,255 | €2,562 | +€1,306 | +104.1% |
| Trade debts | 44 | €422 | €71 | -€351 | -83.2% |
| Suppliers | 440/4 | €422 | €71 | -€351 | -83.2% |
| Taxes, remuneration and social security | 45 | €2,695 | €20,516 | +€17,821 | +661.1% |
| Taxes | 450/3 | €2,695 | €20,516 | +€17,821 | +661.1% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €98,974 | €99,053 | +€79 | +0.1% |
| Accrued charges and deferred income | 492/3 | €7,894 | €9,967 | +€2,073 | +26.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,365 | €29,147 | +€3,782 | +14.9% |
| Other operating charges | 640/8 | €1,603 | €1,723 | +€120 | +7.5% |
| Gross operating margin | 9900 | -€11,241 | €9,029 | +€20,270 | |
| Operating profit (loss) | 9901 | -€38,208 | -€21,841 | +€16,367 | +42.8% |
| Financial income | 75/76B | €0 | €25 | +€25 | +11847.6% |
| Recurring financial income | 75 | €0 | €25 | +€25 | +11847.6% |
| Financial charges | 65/66B | €10,862 | €11,855 | +€992 | +9.1% |
| Recurring financial charges | 65 | €10,862 | €11,855 | +€992 | +9.1% |
| Profit (loss) for the period before taxes | 9903 | -€49,071 | -€33,671 | +€15,400 | +31.4% |
| Income taxes | 67/77 | €245 | €230 | -€14 | -5.8% |
| Profit (loss) for the period | 9904 | -€49,315 | -€33,901 | +€15,414 | +31.3% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€49,315 | -€33,901 | +€15,414 | +31.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.