Lowell: 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
Lowell
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€8,129
2024 · -€17,287+€9,158
Equity
€481,564
2024 · €489,693-€8,129
Cash
€21,969
2024 · €26,733-€4,765
Balance sheet total
€1.9m
2024 · €1.9m-€48,715
Largest movements
Assets
- Tangible fixed assets -€46,027
down €46,027 (-2.6%), from €1.8m to €1.7m
of which Land and buildings: -€45,387
Equity and liabilities
- Debts after one year -€37,287
down €37,287 (-2.6%), from €1.4m to €1.4m
of which Financial debts: -€32,250
Income statement
- Other operating charges -€6,238
down €6,238 (-71.4%), from €8,734 to €2,496
- Financial charges -€5,698
down €5,698 (-11.3%), from €50,415 to €44,717
- Financial income -€3,070
down €3,070 (-34.1%), from €9,001 to €5,931
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
-€17,287
Gross operating margin
+€470
Depreciation
-€178
Other operating charges
+€6,238
Financial income
-€3,070
Financial charges
+€5,698
Result 2025
-€8,129
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
+€33,216
Investment
-€1,037
Financing
-€36,944
Cash 2024
€26,733
From operations (derived)
+€33,216
Net result for the year
-€8,129
Depreciation
+€47,589
Receivables within one year
-€1,779
Deferred charges and accrued income
-€822
Trade debts
-€1,269
Tax, wage and social debts
-€1,607
Accrued charges and deferred income
-€766
Investment (derived)
-€1,037
Investment in fixed assets (net)
-€1,037
Financing
-€36,944
Debts after one year
-€37,287
Current portion of long-term debt
+€343
Cash 2025
€21,969
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,949,067 | €1,900,352 | -€48,715 | -2.5% |
| Formation expenses | 20 | €946 | €422 | -€525 | -55.4% |
| Fixed assets | 21/28 | €1,770,638 | €1,724,611 | -€46,027 | -2.6% |
| Tangible fixed assets | 22/27 | €1,769,388 | €1,723,361 | -€46,027 | -2.6% |
| Land and buildings | 22 | €1,763,926 | €1,718,539 | -€45,387 | -2.6% |
| Furniture and vehicles | 24 | €5,462 | €4,822 | -€640 | -11.7% |
| Financial fixed assets | 28 | €1,250 | €1,250 | = | 0.0% |
| Current assets | 29/58 | €177,483 | €175,320 | -€2,164 | -1.2% |
| Amounts receivable within one year | 40/41 | €750 | €2,529 | +€1,779 | +237.2% |
| Trade receivables | 40 | €750 | €750 | = | 0.0% |
| Other amounts receivable | 41 | - | €1,779 | +€1,779 | |
| Current investments | 50/53 | €150,000 | €150,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €26,733 | €21,969 | -€4,765 | -17.8% |
| Deferred charges and accrued income | 490/1 | - | €822 | +€822 | |
| Total equity and liabilities | 10/49 | €1,949,067 | €1,900,352 | -€48,715 | -2.5% |
| Equity | 10/15 | €489,693 | €481,564 | -€8,129 | -1.7% |
| Contributions | 10/11 | €570,000 | €570,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€80,307 | -€88,436 | -€8,129 | -10.1% |
| Amounts payable | 17/49 | €1,459,374 | €1,418,788 | -€40,586 | -2.8% |
| Amounts payable after more than one year | 17 | €1,411,718 | €1,374,432 | -€37,287 | -2.6% |
| Financial debts | 170/4 | €374,404 | €342,155 | -€32,250 | -8.6% |
| Other amounts payable | 178/9 | €1,037,314 | €1,032,277 | -€5,037 | -0.5% |
| Amounts payable within one year | 42/48 | €46,890 | €44,356 | -€2,534 | -5.4% |
| Current portion of amounts payable after more than one year | 42 | €31,907 | €32,250 | +€343 | +1.1% |
| Trade debts | 44 | €1,269 | - | -€1,269 | |
| Suppliers | 440/4 | €1,269 | - | -€1,269 | |
| Taxes, remuneration and social security | 45 | €13,714 | €12,107 | -€1,607 | -11.7% |
| Taxes | 450/3 | €13,714 | €12,107 | -€1,607 | -11.7% |
| Accrued charges and deferred income | 492/3 | €766 | - | -€766 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,411 | €47,589 | +€178 | +0.4% |
| Other operating charges | 640/8 | €8,734 | €2,496 | -€6,238 | -71.4% |
| Gross operating margin | 9900 | €80,272 | €80,742 | +€470 | +0.6% |
| Operating profit (loss) | 9901 | €24,127 | €30,657 | +€6,531 | +27.1% |
| Financial income | 75/76B | €9,001 | €5,931 | -€3,070 | -34.1% |
| Recurring financial income | 75 | €9,001 | €5,931 | -€3,070 | -34.1% |
| Financial charges | 65/66B | €50,415 | €44,717 | -€5,698 | -11.3% |
| Recurring financial charges | 65 | €50,415 | €44,717 | -€5,698 | -11.3% |
| Profit (loss) for the period before taxes | 9903 | -€17,287 | -€8,129 | +€9,158 | +53.0% |
| Income taxes | 67/77 | - | €0 | = | |
| Profit (loss) for the period | 9904 | -€17,287 | -€8,129 | +€9,158 | +53.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,287 | -€8,129 | +€9,158 | +53.0% |
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 8 October 2026 via checked.be.