Lovu: 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.
Lovu
Largest movements
- Tangible fixed assets +€711,659
up €711,659 (+969%), from €73,432 to €785,090
of which Land and buildings: +€731,340
- Receivables within one year -€284,081
down €284,081 (-70.1%), from €405,510 to €121,428
of which Other amounts receivable: -€241,075
- Cash -€45,767
down €45,767 (-48.4%), from €94,604 to €48,837
mainly Investment in fixed assets (net) (-€735,668) and Current portion of long-term debt (-€399,932)
- Debts after one year +€597,033
up €597,033 (+3,774%), from €15,821 to €612,855
- Current portion of long-term debt -€399,932
down €399,932 (-99.3%), from €402,899 to €2,967
- Reserves +€136,308
up €136,308 (+19.9%), from €683,898 to €820,206
of which Distributable reserves: +€136,308
- Other debts +€33,866
up €33,866 (+6.7%), from €508,076 to €541,942
- Financial income +€258,581
up €258,581 (+15,249%), from €1,696 to €260,277
- Gross operating margin -€27,316
down €27,316 (-21.9%), from €124,626 to €97,310
- Financial charges +€20,362
up €20,362 (+1,034%), from €1,969 to €22,331
- Depreciation +€16,867
up €16,867 (+236%), from €7,142 to €24,009
- Taxes +€2,565
up €2,565 (+6.3%), from €40,844 to €43,410
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 | €1,666,497 | €2,047,465 | +€380,968 | +22.9% |
| Fixed assets | 21/28 | €1,163,313 | €1,874,972 | +€711,659 | +61.2% |
| Tangible fixed assets | 22/27 | €73,432 | €785,090 | +€711,659 | +969% |
| Land and buildings | 22 | €46,313 | €777,654 | +€731,340 | +1,579% |
| Plant, machinery and equipment | 23 | - | €411 | +€411 | |
| Furniture and vehicles | 24 | €7,353 | €7,026 | -€327 | -4.4% |
| Other tangible fixed assets | 26 | €19,766 | €0 | -€19,766 | -100% |
| Financial fixed assets | 28 | €1,089,881 | €1,089,881 | = | 0.0% |
| Current assets | 29/58 | €503,184 | €172,493 | -€330,691 | -65.7% |
| Amounts receivable within one year | 40/41 | €405,510 | €121,428 | -€284,081 | -70.1% |
| Trade receivables | 40 | €64,433 | €21,426 | -€43,006 | -66.7% |
| Other amounts receivable | 41 | €341,077 | €100,002 | -€241,075 | -70.7% |
| Cash at bank and in hand | 54/58 | €94,604 | €48,837 | -€45,767 | -48.4% |
| Deferred charges and accrued income | 490/1 | €3,071 | €2,228 | -€843 | -27.5% |
| Total equity and liabilities | 10/49 | €1,666,497 | €2,047,465 | +€380,968 | +22.9% |
| Equity | 10/15 | €702,498 | €838,806 | +€136,308 | +19.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €683,898 | €820,206 | +€136,308 | +19.9% |
| Tax-exempt reserves | 132 | €200 | €200 | = | 0.0% |
| Distributable reserves | 133 | €683,698 | €820,005 | +€136,308 | +19.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €963,999 | €1,208,659 | +€244,660 | +25.4% |
| Amounts payable after more than one year | 17 | €15,821 | €612,855 | +€597,033 | +3,774% |
| Financial debts | 170/4 | €15,821 | €612,855 | +€597,033 | +3,774% |
| Amounts payable within one year | 42/48 | €948,178 | €595,804 | -€352,373 | -37.2% |
| Current portion of amounts payable after more than one year | 42 | €402,899 | €2,967 | -€399,932 | -99.3% |
| Financial debts | 43 | €2,251 | €2,525 | +€274 | +12.2% |
| Credit institutions | 430/8 | €2,251 | €2,525 | +€274 | +12.2% |
| Trade debts | 44 | €484 | €1,220 | +€736 | +152% |
| Suppliers | 440/4 | €484 | €1,220 | +€736 | +152% |
| Taxes, remuneration and social security | 45 | €34,468 | €47,150 | +€12,682 | +36.8% |
| Taxes | 450/3 | €34,468 | €44,429 | +€9,961 | +28.9% |
| Remuneration and social security | 454/9 | €0 | €2,721 | +€2,721 | |
| Other amounts payable | 47/48 | €508,076 | €541,942 | +€33,866 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,142 | €24,009 | +€16,867 | +236% |
| Other operating charges | 640/8 | €1,211 | €1,069 | -€142 | -11.8% |
| Gross operating margin | 9900 | €124,626 | €97,310 | -€27,316 | -21.9% |
| Operating profit (loss) | 9901 | €116,273 | €72,232 | -€44,041 | -37.9% |
| Financial income | 75/76B | €1,696 | €260,277 | +€258,581 | +15,249% |
| Recurring financial income | 75 | €1,696 | €260,277 | +€258,581 | +15,249% |
| Financial charges | 65/66B | €1,969 | €22,331 | +€20,362 | +1,034% |
| Recurring financial charges | 65 | €1,969 | €22,331 | +€20,362 | +1,034% |
| Profit (loss) for the period before taxes | 9903 | €115,999 | €310,178 | +€194,179 | +167% |
| Income taxes | 67/77 | €40,844 | €43,410 | +€2,565 | +6.3% |
| Profit (loss) for the period | 9904 | €75,155 | €266,769 | +€191,614 | +255% |
| Profit (loss) for the period to be appropriated | 9905 | €75,155 | €266,769 | +€191,614 | +255% |
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 25 October 2026 via checked.be.