LOVAN CONSULT: 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 CONSULT
Largest movements
- Tangible fixed assets -€60,327
down €60,327 (-45.4%), from €132,898 to €72,571
of which Land and buildings: -€58,827
- Cash +€40,374
up €40,374 (+8,851%), from €456 to €40,831
mainly Investment in fixed assets (net) (+€51,632) and Depreciation (+€8,695)
- Receivables within one year -€4,127
down €4,127 (-13.5%), from €30,474 to €26,347
of which Trade receivables: -€21,472
- Other debts -€18,525
down €18,525 (-33.2%), from €55,810 to €37,285
- Debts after one year -€5,926
down €5,926 (-31.1%), from €19,075 to €13,149
- Reserves +€3,600
up €3,600 (+2.2%), from €165,160 to €168,760
of which Distributable reserves: +€3,600
- Trade debts -€3,047
down €3,047 (-28.0%), from €10,899 to €7,851
- Financial income +€48,813
up €48,813 (+11,786%), from €414 to €49,228
- Other operating charges +€32,617
up €32,617 (+507%), from €6,436 to €39,053
- Gross operating margin -€28,993
down €28,993 (-84.0%), from €34,508 to €5,515
- Depreciation -€8,233
down €8,233 (-48.6%), from €16,928 to €8,695
- Financial charges -€407
down €407 (-20.5%), from €1,981 to €1,574
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 | €283,828 | €259,748 | -€24,080 | -8.5% |
| Fixed assets | 21/28 | €252,898 | €192,571 | -€60,327 | -23.9% |
| Tangible fixed assets | 22/27 | €132,898 | €72,571 | -€60,327 | -45.4% |
| Land and buildings | 22 | €131,398 | €72,571 | -€58,827 | -44.8% |
| Plant, machinery and equipment | 23 | €1,500 | - | -€1,500 | |
| Financial fixed assets | 28 | €120,000 | €120,000 | = | 0.0% |
| Current assets | 29/58 | €30,930 | €67,177 | +€36,247 | +117% |
| Amounts receivable within one year | 40/41 | €30,474 | €26,347 | -€4,127 | -13.5% |
| Trade receivables | 40 | €23,529 | €2,057 | -€21,472 | -91.3% |
| Other amounts receivable | 41 | €6,945 | €24,290 | +€17,344 | +250% |
| Cash at bank and in hand | 54/58 | €456 | €40,831 | +€40,374 | +8,851% |
| Total equity and liabilities | 10/49 | €283,828 | €259,748 | -€24,080 | -8.5% |
| Equity | 10/15 | €184,902 | €188,516 | +€3,615 | +2.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €165,160 | €168,760 | +€3,600 | +2.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €163,300 | €166,900 | +€3,600 | +2.2% |
| Profit (loss) carried forward | 14 | €1,142 | €1,156 | +€15 | +1.3% |
| Amounts payable | 17/49 | €98,926 | €71,232 | -€27,694 | -28.0% |
| Amounts payable after more than one year | 17 | €19,075 | €13,149 | -€5,926 | -31.1% |
| Financial debts | 170/4 | €19,075 | €13,149 | -€5,926 | -31.1% |
| Amounts payable within one year | 42/48 | €79,851 | €58,083 | -€21,769 | -27.3% |
| Current portion of amounts payable after more than one year | 42 | €5,688 | €5,926 | +€237 | +4.2% |
| Trade debts | 44 | €10,899 | €7,851 | -€3,047 | -28.0% |
| Suppliers | 440/4 | €10,899 | €7,851 | -€3,047 | -28.0% |
| Taxes, remuneration and social security | 45 | €7,455 | €7,021 | -€433 | -5.8% |
| Taxes | 450/3 | €7,455 | €7,021 | -€433 | -5.8% |
| Other amounts payable | 47/48 | €55,810 | €37,285 | -€18,525 | -33.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,928 | €8,695 | -€8,233 | -48.6% |
| Other operating charges | 640/8 | €6,436 | €39,053 | +€32,617 | +507% |
| Gross operating margin | 9900 | €34,508 | €5,515 | -€28,993 | -84.0% |
| Operating profit (loss) | 9901 | €11,144 | -€42,232 | -€53,376 | |
| Financial income | 75/76B | €414 | €49,228 | +€48,813 | +11,786% |
| Recurring financial income | 75 | €414 | €49,228 | +€48,813 | +11,786% |
| Financial charges | 65/66B | €1,981 | €1,574 | -€407 | -20.5% |
| Recurring financial charges | 65 | €1,981 | €1,574 | -€407 | -20.5% |
| Profit (loss) for the period before taxes | 9903 | €9,578 | €5,421 | -€4,156 | -43.4% |
| Income taxes | 67/77 | €1,475 | €1,807 | +€332 | +22.5% |
| Profit (loss) for the period | 9904 | €8,103 | €3,615 | -€4,488 | -55.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,103 | €3,615 | -€4,488 | -55.4% |
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 14 October 2026 via checked.be.