LOWE: 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.
LOWE
Largest movements
- Tangible fixed assets +€261,931
up €261,931 (+321.7%), from €81,433 to €343,364
of which Furniture and vehicles: +€273,792
- Receivables within one year -€78,243
down €78,243 (-100.0%), from €78,243 to €0
of which Trade receivables: -€77,919
- Cash +€45,486
up €45,486 (+112.3%), from €40,512 to €85,998
mainly Other debts (+€153,057) and Receivables within one year (+€78,243)
- Other debts +€153,057
up €153,057 (+192.0%), from €79,714 to €232,771
- Trade debts +€44,759
up €44,759 (+150.7%), from €29,709 to €74,468
- Reserves +€28,771
up €28,771 (+56.1%), from €51,278 to €80,049
- Depreciation +€20,127
up €20,127 (+78.4%), from €25,662 to €45,789
- Gross operating margin +€17,223
up €17,223 (+26.4%), from €65,258 to €82,481
- Other operating charges -€1,275
down €1,275 (-68.5%), from €1,860 to €585
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 | €202,364 | €430,796 | +€228,432 | +112.9% |
| Fixed assets | 21/28 | €81,433 | €343,364 | +€261,931 | +321.7% |
| Tangible fixed assets | 22/27 | €81,433 | €343,364 | +€261,931 | +321.7% |
| Plant, machinery and equipment | 23 | €37,583 | €25,722 | -€11,861 | -31.6% |
| Furniture and vehicles | 24 | €43,850 | €317,642 | +€273,792 | +624.4% |
| Current assets | 29/58 | €120,931 | €87,432 | -€33,499 | -27.7% |
| Stocks and contracts in progress | 3 | €1,831 | €885 | -€947 | -51.7% |
| Stocks | 30/36 | €1,831 | €885 | -€947 | -51.7% |
| Amounts receivable within one year | 40/41 | €78,243 | €0 | -€78,243 | -100.0% |
| Trade receivables | 40 | €77,919 | €0 | -€77,919 | -100.0% |
| Other amounts receivable | 41 | €324 | €0 | -€324 | -100.0% |
| Cash at bank and in hand | 54/58 | €40,512 | €85,998 | +€45,486 | +112.3% |
| Deferred charges and accrued income | 490/1 | €345 | €550 | +€205 | +59.5% |
| Total equity and liabilities | 10/49 | €202,364 | €430,796 | +€228,432 | +112.9% |
| Equity | 10/15 | €88,463 | €117,234 | +€28,771 | +32.5% |
| Contributions | 10/11 | €37,185 | €37,185 | = | 0.0% |
| Reserves | 13 | €51,278 | €80,049 | +€28,771 | +56.1% |
| Distributable reserves | 133 | €51,278 | €80,049 | +€28,771 | +56.1% |
| Amounts payable | 17/49 | €113,901 | €313,562 | +€199,661 | +175.3% |
| Amounts payable within one year | 42/48 | €113,901 | €313,562 | +€199,661 | +175.3% |
| Trade debts | 44 | €29,709 | €74,468 | +€44,759 | +150.7% |
| Suppliers | 440/4 | €29,709 | €74,468 | +€44,759 | +150.7% |
| Taxes, remuneration and social security | 45 | €4,478 | €6,323 | +€1,845 | +41.2% |
| Taxes | 450/3 | €4,478 | €6,323 | +€1,845 | +41.2% |
| Other amounts payable | 47/48 | €79,714 | €232,771 | +€153,057 | +192.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,662 | €45,789 | +€20,127 | +78.4% |
| Other operating charges | 640/8 | €1,860 | €585 | -€1,275 | -68.5% |
| Gross operating margin | 9900 | €65,258 | €82,481 | +€17,223 | +26.4% |
| Operating profit (loss) | 9901 | €37,736 | €36,107 | -€1,630 | -4.3% |
| Financial charges | 65/66B | €42 | €98 | +€56 | +134.2% |
| Recurring financial charges | 65 | €42 | €98 | +€56 | +134.2% |
| Profit (loss) for the period before taxes | 9903 | €37,694 | €36,009 | -€1,686 | -4.5% |
| Income taxes | 67/77 | €6,978 | €7,237 | +€259 | +3.7% |
| Profit (loss) for the period | 9904 | €30,716 | €28,771 | -€1,945 | -6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €30,716 | €28,771 | -€1,945 | -6.3% |
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 28 September 2026 via checked.be.