LOVO: 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.
LOVO
Largest movements
- Cash -€101,057
down €101,057 (-23.8%), from €424,421 to €323,364
mainly Contributions, distributions and other (-€177,273) and Tax, wage and social debts (-€35,168)
- Receivables within one year +€29,928
up €29,928 (+10.2%), from €293,089 to €323,017
of which Other amounts receivable: +€46,261
- Tangible fixed assets -€28,672
down €28,672 (-50.3%), from €56,959 to €28,287
of which Furniture and vehicles: -€16,577
- Deferred charges and accrued income -€26,936
down €26,936 (-92.2%), from €29,214 to €2,278
- Reserves -€177,273
down €177,273 (-51.7%), from €342,673 to €165,400
of which Distributable reserves: -€177,273
- Trade debts +€91,952
up €91,952 (+70.6%), from €130,195 to €222,147
- Tax, wage and social debts -€35,168
down €35,168 (-66.0%), from €53,274 to €18,106
of which Taxes: -€18,429
- Other debts -€34,391
down €34,391 (-46.1%), from €74,632 to €40,241
- Profit (loss) carried forward +€23,894
up €23,894 (+12.7%), from €187,582 to €211,476
- Gross operating margin -€32,956
down €32,956 (-11.4%), from €289,443 to €256,487
- Staff costs -€5,296
down €5,296 (-3.3%), from €160,608 to €155,312
- Other operating charges +€4,816
up €4,816 (+39.2%), from €12,292 to €17,108
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 | €852,107 | €719,370 | -€132,737 | -15.6% |
| Fixed assets | 21/28 | €105,383 | €70,711 | -€34,672 | -32.9% |
| Intangible fixed assets | 21 | €48,000 | €42,000 | -€6,000 | -12.5% |
| Tangible fixed assets | 22/27 | €56,959 | €28,287 | -€28,672 | -50.3% |
| Plant, machinery and equipment | 23 | €38,671 | €26,577 | -€12,094 | -31.3% |
| Furniture and vehicles | 24 | €18,288 | €1,711 | -€16,577 | -90.6% |
| Financial fixed assets | 28 | €424 | €424 | = | 0.0% |
| Current assets | 29/58 | €746,724 | €648,659 | -€98,065 | -13.1% |
| Amounts receivable within one year | 40/41 | €293,089 | €323,017 | +€29,928 | +10.2% |
| Trade receivables | 40 | €246,294 | €229,961 | -€16,333 | -6.6% |
| Other amounts receivable | 41 | €46,795 | €93,056 | +€46,261 | +98.9% |
| Cash at bank and in hand | 54/58 | €424,421 | €323,364 | -€101,057 | -23.8% |
| Deferred charges and accrued income | 490/1 | €29,214 | €2,278 | -€26,936 | -92.2% |
| Total equity and liabilities | 10/49 | €852,107 | €719,370 | -€132,737 | -15.6% |
| Equity | 10/15 | €592,255 | €438,876 | -€153,379 | -25.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €342,673 | €165,400 | -€177,273 | -51.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €336,473 | €159,200 | -€177,273 | -52.7% |
| Profit (loss) carried forward | 14 | €187,582 | €211,476 | +€23,894 | +12.7% |
| Amounts payable | 17/49 | €259,852 | €280,494 | +€20,642 | +7.9% |
| Amounts payable within one year | 42/48 | €258,101 | €280,494 | +€22,393 | +8.7% |
| Trade debts | 44 | €130,195 | €222,147 | +€91,952 | +70.6% |
| Suppliers | 440/4 | €130,195 | €222,147 | +€91,952 | +70.6% |
| Taxes, remuneration and social security | 45 | €53,274 | €18,106 | -€35,168 | -66.0% |
| Taxes | 450/3 | €20,193 | €1,764 | -€18,429 | -91.3% |
| Remuneration and social security | 454/9 | €33,081 | €16,342 | -€16,739 | -50.6% |
| Other amounts payable | 47/48 | €74,632 | €40,241 | -€34,391 | -46.1% |
| Accrued charges and deferred income | 492/3 | €1,751 | - | -€1,751 | |
| Remuneration, social security and pensions | 62 | €160,608 | €155,312 | -€5,296 | -3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,858 | €21,232 | +€1,374 | +6.9% |
| Other operating charges | 640/8 | €12,292 | €17,108 | +€4,816 | +39.2% |
| Gross operating margin | 9900 | €289,443 | €256,487 | -€32,956 | -11.4% |
| Operating profit (loss) | 9901 | €96,685 | €62,834 | -€33,851 | -35.0% |
| Financial income | 75/76B | €2,572 | €1,112 | -€1,460 | -56.8% |
| Recurring financial income | 75 | €2,572 | €1,112 | -€1,460 | -56.8% |
| Financial charges | 65/66B | €2,416 | €4,752 | +€2,336 | +96.7% |
| Recurring financial charges | 65 | €2,416 | €4,752 | +€2,336 | +96.7% |
| Profit (loss) for the period before taxes | 9903 | €96,841 | €59,195 | -€37,646 | -38.9% |
| Income taxes | 67/77 | €33,311 | €35,301 | +€1,990 | +6.0% |
| Profit (loss) for the period | 9904 | €63,530 | €23,894 | -€39,636 | -62.4% |
| Profit (loss) for the period to be appropriated | 9905 | €63,530 | €23,894 | -€39,636 | -62.4% |
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 18 October 2026 via checked.be.