LOVAN: 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.
LOVAN
Largest movements
- Receivables within one year -€83,009
down €83,009 (-53.2%), from €156,147 to €73,137
of which Other amounts receivable: -€68,331
- Tangible fixed assets -€17,904
down €17,904 (-8.1%), from €221,952 to €204,047
of which Furniture and vehicles: -€14,029
- Receivables after one year -€15,000
no longer reported in 2025 (was €15,000)
- Short-term financial debts -€106,527
no longer reported in 2025 (was €106,527)
- Trade debts -€40,388
down €40,388 (-44.2%), from €91,385 to €50,997
- Debts after one year +€20,840
up €20,840 (+16.6%), from €125,528 to €146,369
- Profit (loss) carried forward +€16,571
up €16,571 (+23.3%), from €71,206 to €87,777
- Tax, wage and social debts -€5,634
down €5,634 (-38.3%), from €14,700 to €9,066
of which Remuneration and social security: -€13,100
- Write-downs -€21,627
no longer reported in 2025 (was €21,627)
- Financial charges +€12,087
up €12,087 (+67.5%), from €17,911 to €29,998
- Taxes +€7,883
new in 2025: €7,883
- Financial income +€7,121
up €7,121 (+188.6%), from €3,776 to €10,897
of which Non-recurring financial income: +€7,286
- Other operating charges -€5,571
down €5,571 (-73.1%), from €7,622 to €2,052
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 | €511,774 | €392,477 | -€119,297 | -23.3% |
| Fixed assets | 21/28 | €221,952 | €204,047 | -€17,904 | -8.1% |
| Tangible fixed assets | 22/27 | €221,952 | €204,047 | -€17,904 | -8.1% |
| Plant, machinery and equipment | 23 | €11,518 | €7,643 | -€3,875 | -33.6% |
| Furniture and vehicles | 24 | €210,434 | €196,405 | -€14,029 | -6.7% |
| Current assets | 29/58 | €289,822 | €188,429 | -€101,393 | -35.0% |
| Amounts receivable after more than one year | 29 | €15,000 | - | -€15,000 | |
| Other amounts receivable | 291 | €15,000 | - | -€15,000 | |
| Stocks and contracts in progress | 3 | €105,591 | €105,591 | = | 0.0% |
| Stocks | 30/36 | €105,591 | €105,591 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €156,147 | €73,137 | -€83,009 | -53.2% |
| Trade receivables | 40 | €68,047 | €53,368 | -€14,679 | -21.6% |
| Other amounts receivable | 41 | €88,100 | €19,769 | -€68,331 | -77.6% |
| Cash at bank and in hand | 54/58 | €8,468 | €7,750 | -€718 | -8.5% |
| Deferred charges and accrued income | 490/1 | €4,618 | €1,952 | -€2,666 | -57.7% |
| Total equity and liabilities | 10/49 | €511,774 | €392,477 | -€119,297 | -23.3% |
| Equity | 10/15 | €169,473 | €186,045 | +€16,571 | +9.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €78,268 | €78,268 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,100 | €1,100 | = | 0.0% |
| Distributable reserves | 133 | €75,168 | €75,168 | = | 0.0% |
| Profit (loss) carried forward | 14 | €71,206 | €87,777 | +€16,571 | +23.3% |
| Amounts payable | 17/49 | €342,301 | €206,432 | -€135,869 | -39.7% |
| Amounts payable after more than one year | 17 | €125,528 | €146,369 | +€20,840 | +16.6% |
| Financial debts | 170/4 | €125,528 | €146,369 | +€20,840 | +16.6% |
| Amounts payable within one year | 42/48 | €212,612 | €60,063 | -€152,549 | -71.7% |
| Financial debts | 43 | €106,527 | - | -€106,527 | |
| Credit institutions | 430/8 | €106,527 | - | -€106,527 | |
| Trade debts | 44 | €91,385 | €50,997 | -€40,388 | -44.2% |
| Suppliers | 440/4 | €91,385 | €50,997 | -€40,388 | -44.2% |
| Taxes, remuneration and social security | 45 | €14,700 | €9,066 | -€5,634 | -38.3% |
| Taxes | 450/3 | - | €7,466 | +€7,466 | |
| Remuneration and social security | 454/9 | €14,700 | €1,600 | -€13,100 | -89.1% |
| Accrued charges and deferred income | 492/3 | €4,160 | - | -€4,160 | |
| Non-recurring operating income | 76A | - | €10,000 | +€10,000 | |
| Remuneration, social security and pensions | 62 | €1,178 | €597 | -€580 | -49.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,904 | €17,904 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €21,627 | - | -€21,627 | |
| Other operating charges | 640/8 | €7,622 | €2,052 | -€5,571 | -73.1% |
| Gross operating margin | 9900 | €63,552 | €64,109 | +€557 | +0.9% |
| Operating profit (loss) | 9901 | €15,221 | €43,556 | +€28,335 | +186.2% |
| Financial income | 75/76B | €3,776 | €10,897 | +€7,121 | +188.6% |
| Recurring financial income | 75 | €3,776 | €3,611 | -€165 | -4.4% |
| Non-recurring financial income | 76B | - | €7,286 | +€7,286 | |
| Financial charges | 65/66B | €17,911 | €29,998 | +€12,087 | +67.5% |
| Recurring financial charges | 65 | €17,911 | €29,998 | +€12,087 | +67.5% |
| Profit (loss) for the period before taxes | 9903 | €1,087 | €24,455 | +€23,368 | +2150.6% |
| Income taxes | 67/77 | - | €7,883 | +€7,883 | |
| Profit (loss) for the period | 9904 | €1,087 | €16,571 | +€15,485 | +1425.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,087 | €16,571 | +€15,485 | +1425.1% |
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 4 October 2026 via checked.be.