LOWAGIE: 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.
LOWAGIE
Largest movements
- Tangible fixed assets +€333,139
up €333,139 (+2,067%), from €16,114 to €349,253
of which Other tangible fixed assets: +€322,479
- Stocks and contracts +€121,621
up €121,621 (+18.8%), from €647,097 to €768,718
- Receivables within one year +€46,948
up €46,948 (+21.3%), from €220,576 to €267,524
of which Trade receivables: +€47,633
- Cash +€43,940
up €43,940 (+130%), from €33,751 to €77,691
mainly Debts after one year (+€235,743) and Trade debts (+€192,287)
- Debts after one year +€235,743
up €235,743 (+61.1%), from €385,888 to €621,631
of which Financial debts: +€227,743
- Trade debts +€192,287
up €192,287 (+58.8%), from €326,872 to €519,159
- Current portion of long-term debt +€48,274
up €48,274 (+395%), from €12,210 to €60,483
- Other debts +€47,515
up €47,515, from €0 to €47,515
- Profit (loss) carried forward +€18,364
up €18,364 (+33.2%), from -€55,253 to -€36,890
- Gross operating margin +€103,514
up €103,514 (+49.7%), from €208,305 to €311,818
- Staff costs +€28,540
up €28,540 (+13.6%), from €210,391 to €238,930
- Depreciation +€21,276
up €21,276 (+358%), from €5,950 to €27,227
- Financial charges +€10,151
up €10,151 (+69.8%), from €14,547 to €24,698
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 | €951,003 | €1,494,077 | +€543,073 | +57.1% |
| Fixed assets | 21/28 | €16,858 | €349,996 | +€333,139 | +1,976% |
| Tangible fixed assets | 22/27 | €16,114 | €349,253 | +€333,139 | +2,067% |
| Plant, machinery and equipment | 23 | €4,277 | €17,367 | +€13,090 | +306% |
| Furniture and vehicles | 24 | - | €1,125 | +€1,125 | |
| Leasing and similar rights | 25 | €9,615 | €6,060 | -€3,554 | -37.0% |
| Other tangible fixed assets | 26 | €2,222 | €324,701 | +€322,479 | +14,514% |
| Financial fixed assets | 28 | €744 | €744 | = | 0.0% |
| Current assets | 29/58 | €934,146 | €1,144,080 | +€209,934 | +22.5% |
| Stocks and contracts in progress | 3 | €647,097 | €768,718 | +€121,621 | +18.8% |
| Stocks | 30/36 | €647,097 | €768,718 | +€121,621 | +18.8% |
| Amounts receivable within one year | 40/41 | €220,576 | €267,524 | +€46,948 | +21.3% |
| Trade receivables | 40 | €207,038 | €254,671 | +€47,633 | +23.0% |
| Other amounts receivable | 41 | €13,538 | €12,853 | -€685 | -5.1% |
| Cash at bank and in hand | 54/58 | €33,751 | €77,691 | +€43,940 | +130% |
| Deferred charges and accrued income | 490/1 | €32,722 | €30,147 | -€2,575 | -7.9% |
| Total equity and liabilities | 10/49 | €951,003 | €1,494,077 | +€543,073 | +57.1% |
| Equity | 10/15 | €3,348 | €21,712 | +€18,364 | +548% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €8,601 | €8,601 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €97 | €97 | = | 0.0% |
| Distributable reserves | 133 | €8,505 | €8,505 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€55,253 | -€36,890 | +€18,364 | +33.2% |
| Amounts payable | 17/49 | €947,655 | €1,472,365 | +€524,709 | +55.4% |
| Amounts payable after more than one year | 17 | €385,888 | €621,631 | +€235,743 | +61.1% |
| Financial debts | 170/4 | €105,066 | €332,809 | +€227,743 | +217% |
| Other amounts payable | 178/9 | €280,822 | €288,822 | +€8,000 | +2.8% |
| Amounts payable within one year | 42/48 | €551,028 | €837,503 | +€286,475 | +52.0% |
| Current portion of amounts payable after more than one year | 42 | €12,210 | €60,483 | +€48,274 | +395% |
| Financial debts | 43 | €166,614 | €160,850 | -€5,763 | -3.5% |
| Credit institutions | 430/8 | €166,614 | €160,850 | -€5,763 | -3.5% |
| Trade debts | 44 | €326,872 | €519,159 | +€192,287 | +58.8% |
| Suppliers | 440/4 | €326,872 | €519,159 | +€192,287 | +58.8% |
| Taxes, remuneration and social security | 45 | €45,333 | €49,496 | +€4,163 | +9.2% |
| Taxes | 450/3 | €10,505 | €8,002 | -€2,503 | -23.8% |
| Remuneration and social security | 454/9 | €34,828 | €41,494 | +€6,666 | +19.1% |
| Other amounts payable | 47/48 | €0 | €47,515 | +€47,515 | |
| Accrued charges and deferred income | 492/3 | €10,739 | €13,231 | +€2,492 | +23.2% |
| Remuneration, social security and pensions | 62 | €210,391 | €238,930 | +€28,540 | +13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,950 | €27,227 | +€21,276 | +358% |
| Other operating charges | 640/8 | €4,038 | €4,985 | +€947 | +23.5% |
| Gross operating margin | 9900 | €208,305 | €311,818 | +€103,514 | +49.7% |
| Operating profit (loss) | 9901 | -€12,074 | €40,676 | +€52,750 | |
| Financial income | 75/76B | €1,503 | €2,529 | +€1,026 | +68.2% |
| Recurring financial income | 75 | €1,503 | €2,529 | +€1,026 | +68.2% |
| Financial charges | 65/66B | €14,547 | €24,698 | +€10,151 | +69.8% |
| Recurring financial charges | 65 | €14,547 | €24,698 | +€10,151 | +69.8% |
| Profit (loss) for the period before taxes | 9903 | -€25,118 | €18,506 | +€43,625 | |
| Income taxes | 67/77 | €135 | €143 | +€7 | +5.3% |
| Profit (loss) for the period | 9904 | -€25,254 | €18,364 | +€43,617 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,254 | €18,364 | +€43,617 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.