Lowet Koen: 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.
Lowet Koen
Largest movements
- Tangible fixed assets -€4,981
down €4,981 (-35.9%), from €13,858 to €8,878
of which Furniture and vehicles: -€4,355
- Receivables within one year +€4,039
up €4,039 (+92.5%), from €4,366 to €8,405
of which Trade receivables: +€3,807
- Cash +€2,120
up €2,120 (+77.1%), from €2,752 to €4,872
mainly Depreciation (+€4,981) and Short-term financial debts (+€3,908)
- Deferred charges and accrued income -€1,579
down €1,579 (-61.3%), from €2,576 to €997
- Stocks and contracts +€1,079
up €1,079 (+3.3%), from €32,957 to €34,036
- Debts after one year -€6,006
down €6,006 (-100%), from €6,006 to €0
- Short-term financial debts +€3,908
up €3,908 (+37.2%), from €10,507 to €14,415
of which Other loans: +€3,200
- Current portion of long-term debt -€2,507
down €2,507 (-29.4%), from €8,513 to €6,006
- Trade debts +€2,263
up €2,263 (+192%), from €1,178 to €3,442
- Profit (loss) carried forward +€1,942
up €1,942 (+6.5%), from -€29,903 to -€27,961
- Gross operating margin +€11,324
up €11,324 (+1,036%), from €1,093 to €12,417
- Depreciation -€1,714
down €1,714 (-25.6%), from €6,695 to €4,981
- Other operating charges +€1,212
up €1,212 (+419%), from €289 to €1,501
- Financial charges +€564
up €564 (+18.0%), from €3,142 to €3,707
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 | €56,528 | €57,206 | +€678 | +1.2% |
| Fixed assets | 21/28 | €13,858 | €8,878 | -€4,981 | -35.9% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €13,858 | €8,878 | -€4,981 | -35.9% |
| Plant, machinery and equipment | 23 | €4,079 | €3,453 | -€626 | -15.3% |
| Furniture and vehicles | 24 | €9,779 | €5,424 | -€4,355 | -44.5% |
| Current assets | 29/58 | €42,670 | €48,329 | +€5,659 | +13.3% |
| Stocks and contracts in progress | 3 | €32,957 | €34,036 | +€1,079 | +3.3% |
| Stocks | 30/36 | €32,957 | €34,036 | +€1,079 | +3.3% |
| Amounts receivable within one year | 40/41 | €4,366 | €8,405 | +€4,039 | +92.5% |
| Trade receivables | 40 | €4,027 | €7,834 | +€3,807 | +94.5% |
| Other amounts receivable | 41 | €338 | €570 | +€232 | +68.5% |
| Current investments | 50/53 | €19 | €19 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,752 | €4,872 | +€2,120 | +77.1% |
| Deferred charges and accrued income | 490/1 | €2,576 | €997 | -€1,579 | -61.3% |
| Total equity and liabilities | 10/49 | €56,528 | €57,206 | +€678 | +1.2% |
| Equity | 10/15 | -€21,843 | -€19,901 | +€1,942 | +8.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,903 | -€27,961 | +€1,942 | +6.5% |
| Amounts payable | 17/49 | €78,371 | €77,107 | -€1,264 | -1.6% |
| Amounts payable after more than one year | 17 | €6,006 | €0 | -€6,006 | -100% |
| Financial debts | 170/4 | €6,006 | €0 | -€6,006 | -100% |
| Amounts payable within one year | 42/48 | €72,366 | €77,107 | +€4,742 | +6.6% |
| Current portion of amounts payable after more than one year | 42 | €8,513 | €6,006 | -€2,507 | -29.4% |
| Financial debts | 43 | €10,507 | €14,415 | +€3,908 | +37.2% |
| Credit institutions | 430/8 | €9,121 | €9,829 | +€708 | +7.8% |
| Other loans | 439 | €1,386 | €4,586 | +€3,200 | +231% |
| Trade debts | 44 | €1,178 | €3,442 | +€2,263 | +192% |
| Suppliers | 440/4 | €1,178 | €3,442 | +€2,263 | +192% |
| Taxes, remuneration and social security | 45 | €2,120 | €1,886 | -€234 | -11.1% |
| Taxes | 450/3 | €2,120 | €1,886 | -€234 | -11.1% |
| Other amounts payable | 47/48 | €50,048 | €51,359 | +€1,312 | +2.6% |
| Non-recurring operating income | 76A | - | €8 | +€8 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,695 | €4,981 | -€1,714 | -25.6% |
| Other operating charges | 640/8 | €289 | €1,501 | +€1,212 | +419% |
| Non-recurring operating charges | 66A | - | €79 | +€79 | |
| Gross operating margin | 9900 | €1,093 | €12,417 | +€11,324 | +1,036% |
| Operating profit (loss) | 9901 | -€5,891 | €5,857 | +€11,747 | |
| Financial income | 75/76B | €35 | €1 | -€34 | -97.9% |
| Recurring financial income | 75 | €35 | €1 | -€34 | -97.9% |
| Financial charges | 65/66B | €3,142 | €3,707 | +€564 | +18.0% |
| Recurring financial charges | 65 | €3,142 | €3,707 | +€564 | +18.0% |
| Profit (loss) for the period before taxes | 9903 | -€8,998 | €2,150 | +€11,149 | |
| Income taxes | 67/77 | €181 | €208 | +€27 | +14.9% |
| Profit (loss) for the period | 9904 | -€9,179 | €1,942 | +€11,122 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,179 | €1,942 | +€11,122 |
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 28 October 2026 via checked.be.