LOVAPO: 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.
LOVAPO
Largest movements
- Cash +€101,734
up €101,734 (+4368.1%), from €2,329 to €104,063
mainly Net result for the year (+€44,849) and Receivables within one year (+€38,101)
- Receivables within one year -€38,101
down €38,101 (-55.4%), from €68,731 to €30,630
of which Trade receivables: -€42,221
- Tangible fixed assets -€23,957
down €23,957 (-30.0%), from €79,798 to €55,841
of which Furniture and vehicles: -€15,919
- Reserves +€39,688
up €39,688 (+45.7%), from €86,752 to €126,440
of which Distributable reserves: +€39,688
- Tax, wage and social debts +€17,530
up €17,530 (+5804.6%), from €302 to €17,832
- Debts after one year -€16,279
down €16,279 (-53.9%), from €30,189 to €13,910
- Trade debts -€5,840
down €5,840 (-93.0%), from €6,277 to €437
- Profit (loss) carried forward +€5,161
no longer reported in 2025 (was -€5,161)
- Gross operating margin +€50,621
up €50,621 (+117.5%), from €43,100 to €93,721
- Taxes +€17,530
up €17,530 (+5804.6%), from €302 to €17,832
- Depreciation -€6,702
down €6,702 (-19.6%), from €34,268 to €27,566
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 | €158,233 | €197,898 | +€39,665 | +25.1% |
| Fixed assets | 21/28 | €80,583 | €57,265 | -€23,318 | -28.9% |
| Tangible fixed assets | 22/27 | €79,798 | €55,841 | -€23,957 | -30.0% |
| Plant, machinery and equipment | 23 | €23,734 | €17,700 | -€6,034 | -25.4% |
| Furniture and vehicles | 24 | €45,058 | €29,139 | -€15,919 | -35.3% |
| Other tangible fixed assets | 26 | €11,006 | €9,002 | -€2,004 | -18.2% |
| Financial fixed assets | 28 | €785 | €1,424 | +€639 | +81.4% |
| Current assets | 29/58 | €77,650 | €140,633 | +€62,983 | +81.1% |
| Amounts receivable within one year | 40/41 | €68,731 | €30,630 | -€38,101 | -55.4% |
| Trade receivables | 40 | €56,115 | €13,894 | -€42,221 | -75.2% |
| Other amounts receivable | 41 | €12,616 | €16,736 | +€4,120 | +32.7% |
| Cash at bank and in hand | 54/58 | €2,329 | €104,063 | +€101,734 | +4368.1% |
| Deferred charges and accrued income | 490/1 | €6,590 | €5,940 | -€650 | -9.9% |
| Total equity and liabilities | 10/49 | €158,233 | €197,898 | +€39,665 | +25.1% |
| Equity | 10/15 | €104,591 | €149,440 | +€44,849 | +42.9% |
| Contributions | 10/11 | €23,000 | €23,000 | = | 0.0% |
| Reserves | 13 | €86,752 | €126,440 | +€39,688 | +45.7% |
| Tax-exempt reserves | 132 | €6,177 | €6,177 | = | 0.0% |
| Distributable reserves | 133 | €80,575 | €120,263 | +€39,688 | +49.3% |
| Profit (loss) carried forward | 14 | -€5,161 | - | +€5,161 | |
| Amounts payable | 17/49 | €53,642 | €48,458 | -€5,184 | -9.7% |
| Amounts payable after more than one year | 17 | €30,189 | €13,910 | -€16,279 | -53.9% |
| Financial debts | 170/4 | €30,189 | €13,910 | -€16,279 | -53.9% |
| Amounts payable within one year | 42/48 | €22,552 | €34,548 | +€11,996 | +53.2% |
| Current portion of amounts payable after more than one year | 42 | €15,973 | €16,279 | +€306 | +1.9% |
| Trade debts | 44 | €6,277 | €437 | -€5,840 | -93.0% |
| Suppliers | 440/4 | €6,277 | €437 | -€5,840 | -93.0% |
| Taxes, remuneration and social security | 45 | €302 | €17,832 | +€17,530 | +5804.6% |
| Taxes | 450/3 | €302 | €17,832 | +€17,530 | +5804.6% |
| Accrued charges and deferred income | 492/3 | €901 | - | -€901 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,268 | €27,566 | -€6,702 | -19.6% |
| Other operating charges | 640/8 | €1,642 | €2,151 | +€509 | +31.0% |
| Gross operating margin | 9900 | €43,100 | €93,721 | +€50,621 | +117.5% |
| Operating profit (loss) | 9901 | €7,190 | €64,004 | +€56,814 | +790.2% |
| Financial income | 75/76B | €98 | €154 | +€56 | +57.1% |
| Recurring financial income | 75 | €98 | €154 | +€56 | +57.1% |
| Financial charges | 65/66B | €2,064 | €1,477 | -€587 | -28.4% |
| Recurring financial charges | 65 | €2,064 | €1,477 | -€587 | -28.4% |
| Profit (loss) for the period before taxes | 9903 | €5,224 | €62,681 | +€57,457 | +1099.9% |
| Income taxes | 67/77 | €302 | €17,832 | +€17,530 | +5804.6% |
| Profit (loss) for the period | 9904 | €4,922 | €44,849 | +€39,927 | +811.2% |
| Profit (loss) for the period to be appropriated | 9905 | €4,922 | €44,849 | +€39,927 | +811.2% |
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.