LOVE&JOEL: 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.
LOVE&JOEL
Largest movements
- Tangible fixed assets -€35,080
down €35,080 (-4.6%), from €761,205 to €726,125
- Debts after one year -€94,087
down €94,087 (-24.0%), from €392,719 to €298,632
- Reserves +€53,000
up €53,000 (+27.1%), from €195,700 to €248,700
- Trade debts -€10,138
down €10,138 (-72.7%), from €13,941 to €3,803
- Gross operating margin +€3,089
up €3,089 (+2.6%), from €118,772 to €121,861
- Taxes +€1,224
up €1,224 (+5.2%), from €23,500 to €24,724
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 | €852,884 | €809,317 | -€43,567 | -5.1% |
| Fixed assets | 21/28 | €761,205 | €726,125 | -€35,080 | -4.6% |
| Tangible fixed assets | 22/27 | €761,205 | €726,125 | -€35,080 | -4.6% |
| Land and buildings | 22 | €761,205 | €726,125 | -€35,080 | -4.6% |
| Current assets | 29/58 | €91,679 | €83,192 | -€8,486 | -9.3% |
| Amounts receivable within one year | 40/41 | €59,693 | €59,512 | -€181 | -0.3% |
| Other amounts receivable | 41 | €59,693 | €59,512 | -€181 | -0.3% |
| Cash at bank and in hand | 54/58 | €31,302 | €22,987 | -€8,316 | -26.6% |
| Deferred charges and accrued income | 490/1 | €683 | €694 | +€11 | +1.6% |
| Total equity and liabilities | 10/49 | €852,884 | €809,317 | -€43,567 | -5.1% |
| Equity | 10/15 | €255,557 | €308,563 | +€53,006 | +20.7% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €195,700 | €248,700 | +€53,000 | +27.1% |
| Distributable reserves | 133 | €195,700 | €248,700 | +€53,000 | +27.1% |
| Profit (loss) carried forward | 14 | €9,857 | €9,863 | +€6 | +0.1% |
| Amounts payable | 17/49 | €597,327 | €500,754 | -€96,573 | -16.2% |
| Amounts payable after more than one year | 17 | €392,719 | €298,632 | -€94,087 | -24.0% |
| Financial debts | 170/4 | €392,719 | €298,632 | -€94,087 | -24.0% |
| Amounts payable within one year | 42/48 | €187,599 | €182,113 | -€5,486 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €93,195 | €94,087 | +€892 | +1.0% |
| Trade debts | 44 | €13,941 | €3,803 | -€10,138 | -72.7% |
| Suppliers | 440/4 | €13,941 | €3,803 | -€10,138 | -72.7% |
| Taxes, remuneration and social security | 45 | €5,030 | €8,791 | +€3,761 | +74.8% |
| Taxes | 450/3 | €5,030 | €8,791 | +€3,761 | +74.8% |
| Other amounts payable | 47/48 | €75,433 | €75,433 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €17,010 | €20,010 | +€3,000 | +17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,080 | €35,080 | = | 0.0% |
| Other operating charges | 640/8 | €3,302 | €3,407 | +€104 | +3.2% |
| Gross operating margin | 9900 | €118,772 | €121,861 | +€3,089 | +2.6% |
| Operating profit (loss) | 9901 | €80,389 | €83,374 | +€2,985 | +3.7% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €6,547 | €5,644 | -€902 | -13.8% |
| Recurring financial charges | 65 | €6,547 | €5,644 | -€902 | -13.8% |
| Profit (loss) for the period before taxes | 9903 | €73,842 | €77,730 | +€3,887 | +5.3% |
| Income taxes | 67/77 | €23,500 | €24,724 | +€1,224 | +5.2% |
| Profit (loss) for the period | 9904 | €50,342 | €53,006 | +€2,664 | +5.3% |
| Profit (loss) for the period to be appropriated | 9905 | €50,342 | €53,006 | +€2,664 | +5.3% |
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 24 October 2026 via checked.be.