LOVAP: 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.
What changed
LOVAP
NACE 70.200, Business and other management consultancy
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€910,611
2023 · €874,098+€36,513
Equity
€2.1m
2023 · €1.9m+€260,611
Cash
€1.4m
2023 · €1.2m+€148,517
Balance sheet total
€4.0m
2023 · €4.0m-€48,011
Largest movements
Assets
- Tangible fixed assets -€282,831
down €282,831 (-16.2%), from €1.8m to €1.5m
- Cash +€148,517
up €148,517 (+12.3%), from €1.2m to €1.4m
mainly Net result for the year (+€910,611) and Depreciation (+€387,259)
- Receivables within one year +€84,920
up €84,920 (+8.4%), from €1.0m to €1.1m
of which Trade receivables: +€81,131
Equity and liabilities
- Profit (loss) carried forward +€260,611
up €260,611 (+14.9%), from €1.7m to €2.0m
- Debts after one year -€194,482
down €194,482 (-31.6%), from €616,251 to €421,770
- Trade debts -€76,047
down €76,047 (-19.5%), from €389,330 to €313,283
- Current portion of long-term debt -€44,605
down €44,605 (-61.6%), from €72,421 to €27,815
Income statement
- Turnover +€230,739
up €230,739 (+4.2%), from €5.5m to €5.7m
- Services and other goods +€65,622
up €65,622 (+3.7%), from €1.8m to €1.8m
From the 2023 result to the 2024 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 2023
€874,098
Turnover
+€230,739
Other operating income
+€711
Goods and materials
-€44,501
Services and other goods
-€65,622
Staff costs
-€18,309
Depreciation
-€16,936
Write-downs
-€35,597
Other operating charges
-€23,865
Financial income
+€4,335
Financial charges
+€16,977
Taxes
-€11,418
Result 2024
€910,611
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€1.1m
Investment
-€104,428
Financing
-€889,087
Cash 2023
€1.2m
From operations (derived)
+€1.1m
Net result for the year
+€910,611
Depreciation
+€387,259
Receivables within one year
-€84,920
Deferred charges and accrued income
-€1,384
Trade debts
-€76,047
Tax, wage and social debts
+€6,512
Investment (derived)
-€104,428
Investment in fixed assets (net)
-€104,428
Financing
-€889,087
Debts after one year
-€194,482
Current portion of long-term debt
-€44,605
Contributions, distributions and other
-€650,000
Cash 2024
€1.4m
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,998,679 | €3,950,668 | -€48,011 | -1.2% |
| Fixed assets | 21/28 | €1,750,396 | €1,467,565 | -€282,831 | -16.2% |
| Tangible fixed assets | 22/27 | €1,750,396 | €1,467,565 | -€282,831 | -16.2% |
| Land and buildings | 22 | €1,136,446 | €1,010,159 | -€126,287 | -11.1% |
| Plant, machinery and equipment | 23 | €453,263 | €379,124 | -€74,140 | -16.4% |
| Furniture and vehicles | 24 | €6,336 | €3,533 | -€2,803 | -44.2% |
| Leasing and similar rights | 25 | €154,351 | €74,750 | -€79,602 | -51.6% |
| Financial fixed assets | 28 | €0 | - | = | |
| Other financial fixed assets | 284/8 | €0 | - | = | |
| Amounts receivable and cash guarantees | 285/8 | €0 | - | = | |
| Current assets | 29/58 | €2,248,283 | €2,483,103 | +€234,820 | +10.4% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €1,016,993 | €1,101,913 | +€84,920 | +8.4% |
| Trade receivables | 40 | €1,001,743 | €1,082,874 | +€81,131 | +8.1% |
| Other amounts receivable | 41 | €15,250 | €19,039 | +€3,789 | +24.8% |
| Cash at bank and in hand | 54/58 | €1,209,242 | €1,357,759 | +€148,517 | +12.3% |
| Deferred charges and accrued income | 490/1 | €22,047 | €23,431 | +€1,384 | +6.3% |
| Total equity and liabilities | 10/49 | €3,998,679 | €3,950,668 | -€48,011 | -1.2% |
| Equity | 10/15 | €1,855,960 | €2,116,571 | +€260,611 | +14.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,745,960 | €2,006,571 | +€260,611 | +14.9% |
| Amounts payable | 17/49 | €2,142,719 | €1,834,097 | -€308,622 | -14.4% |
| Amounts payable after more than one year | 17 | €616,251 | €421,770 | -€194,482 | -31.6% |
| Financial debts | 170/4 | €616,251 | €421,770 | -€194,482 | -31.6% |
| Leasing and similar obligations | 172 | €32,918 | €5,103 | -€27,815 | -84.5% |
| Credit institutions | 173 | €583,333 | €416,666 | -€166,667 | -28.6% |
| Amounts payable within one year | 42/48 | €1,526,468 | €1,412,327 | -€114,140 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €72,421 | €27,815 | -€44,605 | -61.6% |
| Financial debts | 43 | €166,667 | €166,667 | = | 0.0% |
| Credit institutions | 430/8 | €166,667 | €166,667 | = | 0.0% |
| Trade debts | 44 | €389,330 | €313,283 | -€76,047 | -19.5% |
| Suppliers | 440/4 | €389,330 | €313,283 | -€76,047 | -19.5% |
| Taxes, remuneration and social security | 45 | €248,050 | €254,562 | +€6,512 | +2.6% |
| Taxes | 450/3 | €53,706 | €53,855 | +€149 | +0.3% |
| Remuneration and social security | 454/9 | €194,345 | €200,708 | +€6,363 | +3.3% |
| Other amounts payable | 47/48 | €650,000 | €650,000 | = | 0.0% |
| Operating income | 70/76A | €5,519,569 | €5,751,019 | +€231,450 | +4.2% |
| Turnover | 70 | €5,514,730 | €5,745,469 | +€230,739 | +4.2% |
| Other operating income | 74 | €4,839 | €5,550 | +€711 | +14.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | €4,281,530 | €4,486,360 | +€204,830 | +4.8% |
| Goods for resale, raw materials and consumables | 60 | €227,779 | €272,279 | +€44,501 | +19.5% |
| Purchases | 600/8 | €227,779 | €272,279 | +€44,501 | +19.5% |
| Services and other goods | 61 | €1,774,524 | €1,840,146 | +€65,622 | +3.7% |
| Remuneration, social security and pensions | 62 | €1,877,186 | €1,895,496 | +€18,309 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €370,323 | €387,259 | +€16,936 | +4.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €35,597 | +€35,597 | |
| Other operating charges | 640/8 | €31,718 | €55,583 | +€23,865 | +75.2% |
| Operating profit (loss) | 9901 | €1,238,039 | €1,264,658 | +€26,620 | +2.2% |
| Financial income | 75/76B | €0 | €4,335 | +€4,335 | |
| Recurring financial income | 75 | €0 | €4,335 | +€4,335 | |
| Income from current assets | 751 | - | €4,250 | +€4,250 | |
| Other financial income | 752/9 | €0 | €85 | +€85 | |
| Financial charges | 65/66B | €54,104 | €37,127 | -€16,977 | -31.4% |
| Recurring financial charges | 65 | €54,104 | €37,127 | -€16,977 | -31.4% |
| Debt charges | 650 | €53,526 | €36,505 | -€17,021 | -31.8% |
| Other financial charges | 652/9 | €579 | €622 | +€44 | +7.6% |
| Profit (loss) for the period before taxes | 9903 | €1,183,935 | €1,231,866 | +€47,931 | +4.0% |
| Income taxes | 67/77 | €309,837 | €321,254 | +€11,418 | +3.7% |
| Taxes | 670/3 | €309,837 | €321,254 | +€11,418 | +3.7% |
| Profit (loss) for the period | 9904 | €874,098 | €910,611 | +€36,513 | +4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €874,098 | €910,611 | +€36,513 | +4.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.