LOVAN: 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.
LOVAN
Largest movements
- Tangible fixed assets -€17,381
down €17,381 (-17.8%), from €97,445 to €80,063
- Receivables within one year +€16,664
up €16,664 (+25.0%), from €66,568 to €83,232
- Cash +€10,072
up €10,072 (+510%), from €1,977 to €12,049
mainly Depreciation (+€17,381) and Net result for the year (+€14,644)
- Reserves +€14,644
up €14,644 (+91.1%), from €16,083 to €30,727
- Current portion of long-term debt -€10,695
down €10,695 (-84.5%), from €12,656 to €1,961
- Tax, wage and social debts +€4,683
up €4,683 (+45.4%), from €10,317 to €15,000
- Gross operating margin -€1,744
down €1,744 (-3.9%), from €44,291 to €42,546
- Financial income +€1,414
up €1,414 (+84.7%), from €1,670 to €3,084
- Other operating charges +€465
up €465 (+8.3%), from €5,600 to €6,065
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 | €280,989 | €290,344 | +€9,355 | +3.3% |
| Fixed assets | 21/28 | €212,445 | €195,063 | -€17,381 | -8.2% |
| Tangible fixed assets | 22/27 | €97,445 | €80,063 | -€17,381 | -17.8% |
| Land and buildings | 22 | €97,445 | €80,063 | -€17,381 | -17.8% |
| Financial fixed assets | 28 | €115,000 | €115,000 | = | 0.0% |
| Current assets | 29/58 | €68,545 | €95,281 | +€26,736 | +39.0% |
| Amounts receivable within one year | 40/41 | €66,568 | €83,232 | +€16,664 | +25.0% |
| Other amounts receivable | 41 | €66,568 | €83,232 | +€16,664 | +25.0% |
| Cash at bank and in hand | 54/58 | €1,977 | €12,049 | +€10,072 | +510% |
| Total equity and liabilities | 10/49 | €280,989 | €290,344 | +€9,355 | +3.3% |
| Equity | 10/15 | €106,621 | €121,265 | +€14,644 | +13.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €16,083 | €30,727 | +€14,644 | +91.1% |
| Distributable reserves | 133 | €16,083 | €30,727 | +€14,644 | +91.1% |
| Profit (loss) carried forward | 14 | €84,338 | €84,338 | = | 0.0% |
| Amounts payable | 17/49 | €174,368 | €169,079 | -€5,289 | -3.0% |
| Amounts payable after more than one year | 17 | €981 | - | -€981 | |
| Financial debts | 170/4 | €981 | - | -€981 | |
| Amounts payable within one year | 42/48 | €173,387 | €169,079 | -€4,308 | -2.5% |
| Current portion of amounts payable after more than one year | 42 | €12,656 | €1,961 | -€10,695 | -84.5% |
| Trade debts | 44 | - | €439 | +€439 | |
| Suppliers | 440/4 | - | €439 | +€439 | |
| Taxes, remuneration and social security | 45 | €10,317 | €15,000 | +€4,683 | +45.4% |
| Taxes | 450/3 | €10,317 | €15,000 | +€4,683 | +45.4% |
| Other amounts payable | 47/48 | €150,414 | €151,678 | +€1,264 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,381 | €17,381 | = | 0.0% |
| Other operating charges | 640/8 | €5,600 | €6,065 | +€465 | +8.3% |
| Gross operating margin | 9900 | €44,291 | €42,546 | -€1,744 | -3.9% |
| Operating profit (loss) | 9901 | €21,309 | €19,100 | -€2,209 | -10.4% |
| Financial income | 75/76B | €1,670 | €3,084 | +€1,414 | +84.7% |
| Recurring financial income | 75 | €1,670 | €3,084 | +€1,414 | +84.7% |
| Financial charges | 65/66B | €324 | €211 | -€113 | -34.9% |
| Recurring financial charges | 65 | €324 | €211 | -€113 | -34.9% |
| Profit (loss) for the period before taxes | 9903 | €22,655 | €21,973 | -€682 | -3.0% |
| Income taxes | 67/77 | €7,672 | €7,328 | -€343 | -4.5% |
| Profit (loss) for the period | 9904 | €14,983 | €14,644 | -€339 | -2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €14,983 | €14,644 | -€339 | -2.3% |
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 14 October 2026 via checked.be.