LOVIC: 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
LOVIC
NACE 47.551, Retail sale of household furniture
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€11,078
2024 · €68,651-€57,574
Equity
€3.3m
2024 · €3.3m+€11,078
Cash
€966,454
2024 · €1.0m-€76,161
Balance sheet total
€5.7m
2024 · €5.4m+€251,597
Largest movements
Assets
- Receivables within one year +€287,384
up €287,384 (+28.1%), from €1.0m to €1.3m
of which Other amounts receivable: +€192,464
- Cash -€76,161
down €76,161 (-7.3%), from €1.0m to €966,454
mainly Investment in fixed assets (net) (-€320,390) and Receivables within one year (-€287,384)
Equity and liabilities
- Advances received +€172,201
up €172,201 (+368.0%), from €46,796 to €218,997
- Tax, wage and social debts +€57,576
up €57,576 (+66.1%), from €87,066 to €144,642
of which Taxes: +€31,216
Income statement
- Staff costs +€60,724
up €60,724 (+6.3%), from €970,584 to €1.0m
- Financial income -€30,958
down €30,958 (-32.4%), from €95,605 to €64,647
- Taxes -€20,269
down €20,269 (-68.6%), from €29,543 to €9,274
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
€68,651
Gross operating margin
+€6,585
Staff costs
-€60,724
Depreciation
-€4,351
Write-downs
+€12,171
Other operating charges
-€2,060
Other operating items
-€3,203
Financial income
-€30,958
Financial charges
+€4,696
Taxes
+€20,269
Result 2025
€11,078
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.
From operations
+€264,464
Investment
-€320,380
Financing
-€20,245
Cash 2024
€1.0m
From operations (derived)
+€264,464
Net result for the year
+€11,078
Depreciation
+€270,229
Stocks and contracts
+€7,908
Receivables within one year
-€287,384
Deferred charges and accrued income
+€1,868
Provisions
-€1,471
Trade debts
+€34,080
Tax, wage and social debts
+€57,576
Advances received
+€172,201
Other debts
-€1,313
Accrued charges and deferred income
-€308
Investment (derived)
-€320,380
Investment in fixed assets (net)
-€320,390
Current investments
+€10
Financing
-€20,245
Debts after one year
-€29,284
Current portion of long-term debt
+€9,039
Cash 2025
€966,454
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,407,840 | €5,659,437 | +€251,597 | +4.7% |
| Fixed assets | 21/28 | €2,150,626 | €2,200,787 | +€50,161 | +2.3% |
| Intangible fixed assets | 21 | €60,546 | €56,023 | -€4,523 | -7.5% |
| Tangible fixed assets | 22/27 | €2,067,199 | €2,121,777 | +€54,578 | +2.6% |
| Land and buildings | 22 | €1,638,849 | €1,571,065 | -€67,784 | -4.1% |
| Plant, machinery and equipment | 23 | €13,124 | €10,240 | -€2,885 | -22.0% |
| Furniture and vehicles | 24 | €170,013 | €136,476 | -€33,537 | -19.7% |
| Other tangible fixed assets | 26 | €245,212 | €403,997 | +€158,785 | +64.8% |
| Financial fixed assets | 28 | €22,881 | €22,987 | +€106 | +0.5% |
| Current assets | 29/58 | €3,257,214 | €3,458,649 | +€201,436 | +6.2% |
| Stocks and contracts in progress | 3 | €1,149,665 | €1,141,757 | -€7,908 | -0.7% |
| Stocks | 30/36 | €1,149,665 | €1,141,757 | -€7,908 | -0.7% |
| Amounts receivable within one year | 40/41 | €1,021,529 | €1,308,913 | +€287,384 | +28.1% |
| Trade receivables | 40 | €397,899 | €492,819 | +€94,920 | +23.9% |
| Other amounts receivable | 41 | €623,630 | €816,093 | +€192,464 | +30.9% |
| Current investments | 50/53 | €5,296 | €5,286 | -€10 | -0.2% |
| Cash at bank and in hand | 54/58 | €1,042,616 | €966,454 | -€76,161 | -7.3% |
| Deferred charges and accrued income | 490/1 | €38,108 | €36,240 | -€1,868 | -4.9% |
| Total equity and liabilities | 10/49 | €5,407,840 | €5,659,437 | +€251,597 | +4.7% |
| Equity | 10/15 | €3,327,630 | €3,338,707 | +€11,078 | +0.3% |
| Contributions | 10/11 | €1,062,000 | €1,062,000 | = | 0.0% |
| Capital | 10 | €1,062,000 | €1,062,000 | = | 0.0% |
| Issued capital | 100 | €1,062,000 | €1,062,000 | = | 0.0% |
| Reserves | 13 | €1,861,091 | €1,857,117 | -€3,974 | -0.2% |
| Non-distributable reserves | 130/1 | €106,200 | €106,200 | = | 0.0% |
| Legal reserve | 130 | €106,200 | €106,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €74,891 | €70,917 | -€3,974 | -5.3% |
| Distributable reserves | 133 | €1,680,000 | €1,680,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €404,539 | €419,590 | +€15,051 | +3.7% |
| Provisions and deferred taxes | 16 | €17,349 | €15,878 | -€1,471 | -8.5% |
| Deferred taxes | 168 | €17,349 | €15,878 | -€1,471 | -8.5% |
| Amounts payable | 17/49 | €2,062,861 | €2,304,852 | +€241,991 | +11.7% |
| Amounts payable after more than one year | 17 | €1,314,767 | €1,285,483 | -€29,284 | -2.2% |
| Financial debts | 170/4 | €1,314,767 | €1,285,483 | -€29,284 | -2.2% |
| Amounts payable within one year | 42/48 | €747,543 | €1,019,126 | +€271,583 | +36.3% |
| Current portion of amounts payable after more than one year | 42 | €241,710 | €250,749 | +€9,039 | +3.7% |
| Financial debts | 43 | €38,532 | €38,532 | = | 0.0% |
| Credit institutions | 430/8 | €38,532 | €38,532 | = | 0.0% |
| Trade debts | 44 | €331,510 | €365,590 | +€34,080 | +10.3% |
| Suppliers | 440/4 | €331,510 | €365,590 | +€34,080 | +10.3% |
| Advances received on contracts in progress | 46 | €46,796 | €218,997 | +€172,201 | +368.0% |
| Taxes, remuneration and social security | 45 | €87,066 | €144,642 | +€57,576 | +66.1% |
| Taxes | 450/3 | €1,108 | €32,325 | +€31,216 | +2816.6% |
| Remuneration and social security | 454/9 | €85,958 | €112,318 | +€26,360 | +30.7% |
| Other amounts payable | 47/48 | €1,929 | €616 | -€1,313 | -68.1% |
| Accrued charges and deferred income | 492/3 | €550 | €242 | -€308 | -56.0% |
| Non-recurring operating income | 76A | €10,984 | €7,038 | -€3,947 | -35.9% |
| Remuneration, social security and pensions | 62 | €970,584 | €1,031,308 | +€60,724 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €265,879 | €270,229 | +€4,351 | +1.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,871 | -€7,300 | -€12,171 | |
| Other operating charges | 640/8 | €50,121 | €52,181 | +€2,060 | +4.1% |
| Non-recurring operating charges | 66A | - | €3,203 | +€3,203 | |
| Gross operating margin | 9900 | €1,332,371 | €1,338,956 | +€6,585 | +0.5% |
| Operating profit (loss) | 9901 | €40,916 | -€10,665 | -€51,581 | |
| Financial income | 75/76B | €95,605 | €64,647 | -€30,958 | -32.4% |
| Recurring financial income | 75 | €95,605 | €64,647 | -€30,958 | -32.4% |
| Financial charges | 65/66B | €39,797 | €35,102 | -€4,696 | -11.8% |
| Recurring financial charges | 65 | €39,797 | €35,102 | -€4,696 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €96,723 | €18,881 | -€77,843 | -80.5% |
| Transfer from deferred taxes | 780 | €1,471 | €1,471 | = | 0.0% |
| Income taxes | 67/77 | €29,543 | €9,274 | -€20,269 | -68.6% |
| Profit (loss) for the period | 9904 | €68,651 | €11,078 | -€57,574 | -83.9% |
| Transfer from tax-exempt reserves | 789 | €3,974 | €3,974 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €72,625 | €15,051 | -€57,574 | -79.3% |
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 3 October 2026 via checked.be.