LOVELD: 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
LOVELD
NACE 23.610, Manufacture of other non-metallic mineral products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€53,123
2024 · €116,511-€169,634
Equity
€11.2m
2024 · €11.3m-€53,123
Cash
€3.3m
2024 · €2.5m+€795,880
Balance sheet total
€15.0m
2024 · €15.5m-€480,511
Largest movements
Assets
- Stocks and contracts -€1.7m
down €1.7m (-36.5%), from €4.6m to €2.9m
of which Contracts in progress: -€1.8m
- Cash +€795,880
up €795,880 (+32.4%), from €2.5m to €3.3m
mainly Stocks and contracts (+€1.7m) and Depreciation (+€404,623)
- Receivables within one year +€408,310
up €408,310 (+6.9%), from €5.9m to €6.3m
of which Other amounts receivable: +€330,702
Equity and liabilities
- Trade debts -€263,535
down €263,535 (-10.2%), from €2.6m to €2.3m
- Advances received +€240,210
up €240,210 (+2,623%), from €9,158 to €249,368
Income statement
- Goods and materials -€3.2m
down €3.2m (-54.7%), from €5.8m to €2.6m
of which Purchases: -€2.7m
- Turnover -€2.5m
down €2.5m (-11.5%), from €21.7m to €19.2m
- Services and other goods -€702,589
down €702,589 (-17.5%), from €4.0m to €3.3m
- Financial income +€685,086
up €685,086 (+247%), from €277,870 to €962,957
- Staff costs -€591,182
down €591,182 (-10.7%), from €5.5m to €4.9m
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
€116,511
Turnover
-€2.5m
Other operating income
+€11,254
Goods and materials
+€3.2m
Services and other goods
+€702,589
Staff costs
+€591,182
Depreciation
-€1,268
Other operating charges
-€25,492
Other operating items
-€2.7m
Financial income
+€685,086
Financial charges
-€170,886
Taxes
+€58,345
Result 2025
-€53,123
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
+€1.2m
Investment
-€274,728
Financing
-€172,553
Cash 2024
€2.5m
From operations (derived)
+€1.2m
Net result for the year
-€53,123
Depreciation
+€404,623
Stocks and contracts
+€1.7m
Receivables within one year
-€408,310
Deferred charges and accrued income
-€119,151
Trade debts
-€263,535
Tax, wage and social debts
-€107,960
Advances received
+€240,210
Accrued charges and deferred income
-€123,550
Investment (derived)
-€274,728
Investment in fixed assets (net)
-€274,728
Financing
-€172,553
Debts after one year
-€92,716
Current portion of long-term debt
-€17,986
Short-term financial debts
-€61,851
Cash 2025
€3.3m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,506,709 | €15,026,197 | -€480,511 | -3.1% |
| Fixed assets | 21/28 | €2,381,915 | €2,252,020 | -€129,894 | -5.5% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €1,570,668 | €1,440,773 | -€129,894 | -8.3% |
| Land and buildings | 22 | €248,425 | €284,228 | +€35,802 | +14.4% |
| Plant, machinery and equipment | 23 | €885,960 | €838,455 | -€47,505 | -5.4% |
| Furniture and vehicles | 24 | €146,799 | €90,621 | -€56,178 | -38.3% |
| Leasing and similar rights | 25 | €270,885 | €190,750 | -€80,135 | -29.6% |
| Assets under construction and advance payments | 27 | €18,599 | €36,720 | +€18,121 | +97.4% |
| Financial fixed assets | 28 | €811,247 | €811,247 | = | 0.0% |
| Affiliated companies | 280/1 | €781,500 | €781,500 | = | 0.0% |
| Participating interests | 280 | €781,500 | €781,500 | = | 0.0% |
| Other financial fixed assets | 284/8 | €29,747 | €29,747 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €29,747 | €29,747 | = | 0.0% |
| Current assets | 29/58 | €13,124,794 | €12,774,177 | -€350,617 | -2.7% |
| Stocks and contracts in progress | 3 | €4,583,828 | €2,909,871 | -€1.7m | -36.5% |
| Stocks | 30/36 | €1,099,320 | €1,182,106 | +€82,786 | +7.5% |
| Raw materials and consumables | 30/31 | €1,099,320 | €1,182,106 | +€82,786 | +7.5% |
| Contracts in progress | 37 | €3,484,508 | €1,727,765 | -€1.8m | -50.4% |
| Amounts receivable within one year | 40/41 | €5,914,141 | €6,322,451 | +€408,310 | +6.9% |
| Trade receivables | 40 | €4,732,657 | €4,810,265 | +€77,608 | +1.6% |
| Other amounts receivable | 41 | €1,181,483 | €1,512,185 | +€330,702 | +28.0% |
| Current investments | 50/53 | €90,935 | €90,935 | = | 0.0% |
| Other investments | 51/53 | €90,935 | €90,935 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,455,809 | €3,251,688 | +€795,880 | +32.4% |
| Deferred charges and accrued income | 490/1 | €80,082 | €199,233 | +€119,151 | +149% |
| Total equity and liabilities | 10/49 | €15,506,709 | €15,026,197 | -€480,511 | -3.1% |
| Equity | 10/15 | €11,268,644 | €11,215,521 | -€53,123 | -0.5% |
| Contributions | 10/11 | €991,574 | €991,574 | = | 0.0% |
| Capital | 10 | €991,574 | €991,574 | = | 0.0% |
| Issued capital | 100 | €991,574 | €991,574 | = | 0.0% |
| Reserves | 13 | €1,692,157 | €1,692,157 | = | 0.0% |
| Non-distributable reserves | 130/1 | €99,157 | €99,157 | = | 0.0% |
| Legal reserve | 130 | €99,157 | €99,157 | = | 0.0% |
| Distributable reserves | 133 | €1,593,000 | €1,593,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,584,912 | €8,531,790 | -€53,123 | -0.6% |
| Provisions and deferred taxes | 16 | €23,000 | €23,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €23,000 | €23,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €23,000 | €23,000 | = | 0.0% |
| Amounts payable | 17/49 | €4,215,065 | €3,787,676 | -€427,389 | -10.1% |
| Amounts payable after more than one year | 17 | €92,716 | €0 | -€92,716 | -100% |
| Financial debts | 170/4 | €92,716 | €0 | -€92,716 | -100% |
| Credit institutions | 173 | €92,716 | €0 | -€92,716 | -100% |
| Amounts payable within one year | 42/48 | €3,633,149 | €3,422,026 | -€211,122 | -5.8% |
| Current portion of amounts payable after more than one year | 42 | €110,703 | €92,716 | -€17,986 | -16.2% |
| Financial debts | 43 | €120,000 | €58,149 | -€61,851 | -51.5% |
| Credit institutions | 430/8 | €120,000 | €58,149 | -€61,851 | -51.5% |
| Trade debts | 44 | €2,590,918 | €2,327,382 | -€263,535 | -10.2% |
| Suppliers | 440/4 | €2,590,918 | €2,327,382 | -€263,535 | -10.2% |
| Advances received on contracts in progress | 46 | €9,158 | €249,368 | +€240,210 | +2,623% |
| Taxes, remuneration and social security | 45 | €636,864 | €528,904 | -€107,960 | -17.0% |
| Taxes | 450/3 | €77,899 | €92,696 | +€14,797 | +19.0% |
| Remuneration and social security | 454/9 | €558,964 | €436,208 | -€122,757 | -22.0% |
| Other amounts payable | 47/48 | €165,507 | €165,507 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €489,200 | €365,650 | -€123,550 | -25.3% |
| Operating income | 70/76A | €15,840,464 | €10,629,370 | -€5.2m | -32.9% |
| Turnover | 70 | €21,689,643 | €19,196,650 | -€2.5m | -11.5% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€6,157,869 | -€8,887,223 | -€2.7m | -44.3% |
| Other operating income | 74 | €308,689 | €319,944 | +€11,254 | +3.6% |
| Operating charges | 60/66A | €15,920,806 | €11,451,893 | -€4.5m | -28.1% |
| Goods for resale, raw materials and consumables | 60 | €5,848,294 | €2,646,391 | -€3.2m | -54.7% |
| Purchases | 600/8 | €5,422,171 | €2,729,177 | -€2.7m | -49.7% |
| Change in stocks: decrease (increase) | 609 | €426,123 | -€82,786 | -€508,909 | |
| Services and other goods | 61 | €4,014,063 | €3,311,474 | -€702,589 | -17.5% |
| Remuneration, social security and pensions | 62 | €5,523,215 | €4,932,033 | -€591,182 | -10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €403,355 | €404,623 | +€1,268 | +0.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €131,880 | €157,372 | +€25,492 | +19.3% |
| Operating profit (loss) | 9901 | -€80,342 | -€822,522 | -€742,180 | -924% |
| Financial income | 75/76B | €277,870 | €962,957 | +€685,086 | +247% |
| Recurring financial income | 75 | €277,870 | €962,957 | +€685,086 | +247% |
| Income from financial fixed assets | 750 | €0 | - | = | |
| Income from current assets | 751 | €2,579 | €865,341 | +€862,762 | +33,449% |
| Other financial income | 752/9 | €275,291 | €97,615 | -€177,676 | -64.5% |
| Financial charges | 65/66B | €21,754 | €192,639 | +€170,886 | +786% |
| Recurring financial charges | 65 | €21,754 | €192,639 | +€170,886 | +786% |
| Debt charges | 650 | €12,127 | €4,104 | -€8,023 | -66.2% |
| Other financial charges | 652/9 | €9,627 | €188,535 | +€178,909 | +1,858% |
| Profit (loss) for the period before taxes | 9903 | €175,774 | -€52,205 | -€227,980 | |
| Income taxes | 67/77 | €59,263 | €917 | -€58,345 | -98.5% |
| Taxes | 670/3 | €59,263 | €917 | -€58,345 | -98.5% |
| Profit (loss) for the period | 9904 | €116,511 | -€53,123 | -€169,634 | |
| Profit (loss) for the period to be appropriated | 9905 | €116,511 | -€53,123 | -€169,634 |
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.