LOVANEX: 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.
What changed
LOVANEX
NACE 43.320, Joinery installation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€527,523
2024 · €496,682+€30,841
Equity
€2.9m
2024 · €2.5m+€390,928
Cash
€359,428
2024 · €734,072-€374,644
Balance sheet total
€6.3m
2024 · €6.8m-€523,637
Largest movements
Assets
- Receivables within one year -€1.1m
down €1.1m (-54.8%), from €2.1m to €928,777
of which Trade receivables: -€750,070
- Receivables after one year +€918,446
new in 2025: €918,446
- Cash -€374,644
down €374,644 (-51.0%), from €734,072 to €359,428
mainly Receivables after one year (-€918,446) and Trade debts (-€452,906)
Equity and liabilities
- Trade debts -€452,906
down €452,906 (-69.1%), from €655,706 to €202,799
- Reserves +€390,928
up €390,928 (+17.0%), from €2.3m to €2.7m
of which Tax-exempt reserves: +€421,000
- Debts after one year -€320,431
down €320,431 (-16.6%), from €1.9m to €1.6m
- Other debts -€192,753
down €192,753 (-26.4%), from €729,409 to €536,657
- Accrued charges and deferred income +€70,326
up €70,326 (+12.4%), from €569,286 to €639,612
Income statement
- Turnover -€2.0m
down €2.0m (-10.2%), from €19.1m to €17.2m
- Goods and materials -€1.8m
down €1.8m (-15.1%), from €12.0m to €10.2m
of which Purchases: -€1.8m
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.
Result 2024
€496,682
Turnover
-€2.0m
Other operating income
+€14,258
Goods and materials
+€1.8m
Services and other goods
+€133,347
Staff costs
-€85,858
Depreciation
-€46,944
Other operating charges
+€3,544
Other operating items
+€83,943
Financial income
-€35,939
Financial charges
+€112,307
Taxes
-€7,801
Result 2025
€527,523
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€516,809
Investment
-€412,907
Financing
-€478,546
Cash 2024
€734,072
From operations (derived)
+€516,809
Net result for the year
+€527,523
Depreciation
+€375,006
Receivables after one year
-€918,446
Stocks and contracts
-€31,903
Receivables within one year
+€1.1m
Deferred charges and accrued income
+€12,742
Trade debts
-€452,906
Tax, wage and social debts
+€2,719
Other debts
-€192,753
Accrued charges and deferred income
+€70,326
Investment (derived)
-€412,907
Investment in fixed assets (net)
-€412,907
Financing
-€478,546
Debts after one year
-€320,431
Current portion of long-term debt
-€21,520
Contributions, distributions and other
-€136,595
Cash 2025
€359,428
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,836,847 | €6,313,209 | -€523,637 | -7.7% |
| Fixed assets | 21/28 | €2,636,356 | €2,674,258 | +€37,902 | +1.4% |
| Intangible fixed assets | 21 | €14,583 | €9,583 | -€5,000 | -34.3% |
| Tangible fixed assets | 22/27 | €1,290,198 | €1,320,334 | +€30,136 | +2.3% |
| Land and buildings | 22 | €713,476 | €700,345 | -€13,132 | -1.8% |
| Furniture and vehicles | 24 | €576,721 | €551,952 | -€24,770 | -4.3% |
| Other tangible fixed assets | 26 | - | €68,038 | +€68,038 | |
| Financial fixed assets | 28 | €1,331,575 | €1,344,341 | +€12,766 | +1.0% |
| Affiliated companies | 280/1 | €1,320,325 | €1,320,325 | = | 0.0% |
| Participating interests | 280 | €1,320,325 | €1,320,325 | = | 0.0% |
| Other financial fixed assets | 284/8 | €11,250 | €24,016 | +€12,766 | +113% |
| Amounts receivable and cash guarantees | 285/8 | €11,250 | €24,016 | +€12,766 | +113% |
| Current assets | 29/58 | €4,200,490 | €3,638,951 | -€561,539 | -13.4% |
| Amounts receivable after more than one year | 29 | - | €918,446 | +€918,446 | |
| Other amounts receivable | 291 | - | €918,446 | +€918,446 | |
| Stocks and contracts in progress | 3 | €1,031,210 | €1,063,113 | +€31,903 | +3.1% |
| Stocks | 30/36 | €1,031,210 | €1,063,113 | +€31,903 | +3.1% |
| Goods purchased for resale | 34 | €1,031,210 | €1,063,113 | +€31,903 | +3.1% |
| Amounts receivable within one year | 40/41 | €2,053,279 | €928,777 | -€1.1m | -54.8% |
| Trade receivables | 40 | €1,459,037 | €708,967 | -€750,070 | -51.4% |
| Other amounts receivable | 41 | €594,242 | €219,810 | -€374,432 | -63.0% |
| Current investments | 50/53 | €0 | - | = | |
| Other investments | 51/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €734,072 | €359,428 | -€374,644 | -51.0% |
| Deferred charges and accrued income | 490/1 | €381,929 | €369,188 | -€12,742 | -3.3% |
| Total equity and liabilities | 10/49 | €6,836,847 | €6,313,209 | -€523,637 | -7.7% |
| Equity | 10/15 | €2,468,959 | €2,859,887 | +€390,928 | +15.8% |
| Contributions | 10/11 | €174,157 | €174,157 | = | 0.0% |
| Capital | 10 | €174,157 | €174,157 | = | 0.0% |
| Issued capital | 100 | €174,157 | €174,157 | = | 0.0% |
| Reserves | 13 | €2,294,801 | €2,685,729 | +€390,928 | +17.0% |
| Non-distributable reserves | 130/1 | €17,416 | €17,416 | = | 0.0% |
| Legal reserve | 130 | €17,416 | €17,416 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €421,000 | +€421,000 | |
| Distributable reserves | 133 | €2,277,386 | €2,247,314 | -€30,072 | -1.3% |
| Amounts payable | 17/49 | €4,367,888 | €3,453,322 | -€914,566 | -20.9% |
| Amounts payable after more than one year | 17 | €1,927,035 | €1,606,603 | -€320,431 | -16.6% |
| Financial debts | 170/4 | €1,927,035 | €1,606,603 | -€320,431 | -16.6% |
| Credit institutions | 173 | €121,999 | €0 | -€121,999 | -100% |
| Other loans | 174 | €1,805,036 | €1,606,603 | -€198,433 | -11.0% |
| Amounts payable within one year | 42/48 | €1,871,567 | €1,207,107 | -€664,460 | -35.5% |
| Current portion of amounts payable after more than one year | 42 | €143,519 | €121,999 | -€21,520 | -15.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €655,706 | €202,799 | -€452,906 | -69.1% |
| Suppliers | 440/4 | €655,706 | €202,799 | -€452,906 | -69.1% |
| Taxes, remuneration and social security | 45 | €342,933 | €345,652 | +€2,719 | +0.8% |
| Taxes | 450/3 | €97,603 | €98,784 | +€1,181 | +1.2% |
| Remuneration and social security | 454/9 | €245,330 | €246,868 | +€1,538 | +0.6% |
| Other amounts payable | 47/48 | €729,409 | €536,657 | -€192,753 | -26.4% |
| Accrued charges and deferred income | 492/3 | €569,286 | €639,612 | +€70,326 | +12.4% |
| Operating income | 70/76A | €19,225,822 | €17,331,050 | -€1.9m | -9.9% |
| Turnover | 70 | €19,126,774 | €17,174,107 | -€2.0m | -10.2% |
| Other operating income | 74 | €99,048 | €113,306 | +€14,258 | +14.4% |
| Non-recurring operating income | 76A | - | €43,637 | +€43,637 | |
| Operating charges | 60/66A | €18,336,497 | €16,479,450 | -€1.9m | -10.1% |
| Goods for resale, raw materials and consumables | 60 | €11,991,091 | €10,178,438 | -€1.8m | -15.1% |
| Purchases | 600/8 | €12,048,773 | €10,210,341 | -€1.8m | -15.3% |
| Change in stocks: decrease (increase) | 609 | -€57,681 | -€31,903 | +€25,779 | +44.7% |
| Services and other goods | 61 | €3,078,066 | €2,944,719 | -€133,347 | -4.3% |
| Remuneration, social security and pensions | 62 | €2,703,903 | €2,789,762 | +€85,858 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €328,062 | €375,006 | +€46,944 | +14.3% |
| Other operating charges | 640/8 | €73,463 | €69,919 | -€3,544 | -4.8% |
| Non-recurring operating charges | 66A | €161,912 | €121,607 | -€40,305 | -24.9% |
| Operating profit (loss) | 9901 | €889,325 | €851,600 | -€37,725 | -4.2% |
| Financial income | 75/76B | €201,591 | €165,651 | -€35,939 | -17.8% |
| Recurring financial income | 75 | €201,591 | €165,651 | -€35,939 | -17.8% |
| Income from current assets | 751 | €16,943 | €5,848 | -€11,095 | -65.5% |
| Other financial income | 752/9 | €184,648 | €159,803 | -€24,845 | -13.5% |
| Financial charges | 65/66B | €409,699 | €297,392 | -€112,307 | -27.4% |
| Recurring financial charges | 65 | €409,699 | €297,392 | -€112,307 | -27.4% |
| Debt charges | 650 | €205,040 | €118,758 | -€86,282 | -42.1% |
| Other financial charges | 652/9 | €204,658 | €178,634 | -€26,024 | -12.7% |
| Profit (loss) for the period before taxes | 9903 | €681,217 | €719,859 | +€38,642 | +5.7% |
| Income taxes | 67/77 | €184,535 | €192,336 | +€7,801 | +4.2% |
| Taxes | 670/3 | €184,535 | €192,336 | +€7,801 | +4.2% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €496,682 | €527,523 | +€30,841 | +6.2% |
| Transfer to tax-exempt reserves | 689 | - | €421,000 | +€421,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €496,682 | €106,523 | -€390,159 | -78.6% |
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 13 October 2026 via checked.be.