LOVENA: 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.
LOVENA
Largest movements
- Tangible fixed assets -€39,788
down €39,788 (-8.3%), from €477,070 to €437,282
- Cash -€12,221
down €12,221 (-88.3%), from €13,842 to €1,621
mainly Debts after one year (-€75,734) and Deferred charges and accrued income (-€1,248)
- Debts after one year -€75,734
down €75,734 (-25.5%), from €296,914 to €221,180
- Reserves +€18,860
up €18,860 (+1852.7%), from €1,018 to €19,878
- Accrued charges and deferred income +€5,525
up €5,525 (+2762.5%), from €200 to €5,725
- Taxes +€7,946
up €7,946 (+928.7%), from €856 to €8,801
- Gross operating margin -€841
down €841 (-1.1%), from €78,430 to €77,589
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 | €495,690 | €446,128 | -€49,562 | -10.0% |
| Fixed assets | 21/28 | €477,070 | €437,282 | -€39,788 | -8.3% |
| Tangible fixed assets | 22/27 | €477,070 | €437,282 | -€39,788 | -8.3% |
| Land and buildings | 22 | €477,070 | €437,282 | -€39,788 | -8.3% |
| Current assets | 29/58 | €18,620 | €8,846 | -€9,774 | -52.5% |
| Amounts receivable within one year | 40/41 | €4,144 | €5,343 | +€1,199 | +28.9% |
| Other amounts receivable | 41 | €4,144 | €5,343 | +€1,199 | +28.9% |
| Cash at bank and in hand | 54/58 | €13,842 | €1,621 | -€12,221 | -88.3% |
| Deferred charges and accrued income | 490/1 | €634 | €1,882 | +€1,248 | +196.9% |
| Total equity and liabilities | 10/49 | €495,690 | €446,128 | -€49,562 | -10.0% |
| Equity | 10/15 | €127,018 | €145,878 | +€18,860 | +14.8% |
| Contributions | 10/11 | €126,000 | €126,000 | = | 0.0% |
| Reserves | 13 | €1,018 | €19,878 | +€18,860 | +1852.7% |
| Distributable reserves | 133 | €1,018 | €19,878 | +€18,860 | +1852.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €368,672 | €300,250 | -€68,422 | -18.6% |
| Amounts payable after more than one year | 17 | €296,914 | €221,180 | -€75,734 | -25.5% |
| Financial debts | 170/4 | €296,914 | €221,180 | -€75,734 | -25.5% |
| Amounts payable within one year | 42/48 | €71,558 | €73,345 | +€1,787 | +2.5% |
| Current portion of amounts payable after more than one year | 42 | €54,944 | €55,734 | +€791 | +1.4% |
| Trade debts | 44 | €1,740 | €2,737 | +€997 | +57.3% |
| Suppliers | 440/4 | €1,740 | €2,737 | +€997 | +57.3% |
| Other amounts payable | 47/48 | €14,873 | €14,873 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €200 | €5,725 | +€5,525 | +2762.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,317 | €40,385 | +€68 | +0.2% |
| Other operating charges | 640/8 | €4,640 | €4,585 | -€54 | -1.2% |
| Gross operating margin | 9900 | €78,430 | €77,589 | -€841 | -1.1% |
| Operating profit (loss) | 9901 | €33,474 | €32,619 | -€855 | -2.6% |
| Financial charges | 65/66B | €5,721 | €4,957 | -€763 | -13.3% |
| Recurring financial charges | 65 | €5,721 | €4,957 | -€763 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | €27,753 | €27,662 | -€92 | -0.3% |
| Income taxes | 67/77 | €856 | €8,801 | +€7,946 | +928.7% |
| Profit (loss) for the period | 9904 | €26,898 | €18,860 | -€8,038 | -29.9% |
| Profit (loss) for the period to be appropriated | 9905 | €26,898 | €18,860 | -€8,038 | -29.9% |
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 8 October 2026 via checked.be.