LOWIE: 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.
LOWIE
Largest movements
- Tangible fixed assets -€154,285
down €154,285 (-10.5%), from €1.5m to €1.3m
- Cash +€97,003
up €97,003 (+56.8%), from €170,878 to €267,881
mainly Net result for the year (+€270,475) and Depreciation (+€189,618)
- Debts after one year -€148,405
down €148,405 (-14.1%), from €1.0m to €901,438
- Reserves +€94,004
up €94,004 (+34.1%), from €275,318 to €369,322
of which Distributable reserves: +€94,004
- Tax, wage and social debts -€29,336
down €29,336 (-35.5%), from €82,702 to €53,366
of which Taxes: -€32,973
- Trade debts +€24,343
up €24,343 (+38.2%), from €63,781 to €88,124
- Gross operating margin -€31,871
down €31,871 (-3.3%), from €964,442 to €932,572
- Staff costs +€11,610
up €11,610 (+3.5%), from €336,246 to €347,856
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 | €1,725,347 | €1,653,733 | -€71,614 | -4.2% |
| Fixed assets | 21/28 | €1,517,355 | €1,348,070 | -€169,285 | -11.2% |
| Intangible fixed assets | 21 | €52,500 | €37,500 | -€15,000 | -28.6% |
| Tangible fixed assets | 22/27 | €1,464,855 | €1,310,570 | -€154,285 | -10.5% |
| Land and buildings | 22 | €792,100 | €753,505 | -€38,595 | -4.9% |
| Plant, machinery and equipment | 23 | €480,759 | €403,972 | -€76,787 | -16.0% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Leasing and similar rights | 25 | €191,995 | €153,092 | -€38,903 | -20.3% |
| Current assets | 29/58 | €207,992 | €305,663 | +€97,671 | +47.0% |
| Stocks and contracts in progress | 3 | €11,200 | €14,300 | +€3,100 | +27.7% |
| Stocks | 30/36 | €11,200 | €14,300 | +€3,100 | +27.7% |
| Amounts receivable within one year | 40/41 | €25,914 | €23,482 | -€2,432 | -9.4% |
| Trade receivables | 40 | €9,661 | €10,362 | +€701 | +7.3% |
| Other amounts receivable | 41 | €16,253 | €13,120 | -€3,133 | -19.3% |
| Cash at bank and in hand | 54/58 | €170,878 | €267,881 | +€97,003 | +56.8% |
| Total equity and liabilities | 10/49 | €1,725,347 | €1,653,733 | -€71,614 | -4.2% |
| Equity | 10/15 | €359,167 | €442,529 | +€83,363 | +23.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €275,318 | €369,322 | +€94,004 | +34.1% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €273,318 | €367,322 | +€94,004 | +34.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Investment grants | 15 | €63,849 | €53,207 | -€10,641 | -16.7% |
| Amounts payable | 17/49 | €1,366,180 | €1,211,203 | -€154,977 | -11.3% |
| Amounts payable after more than one year | 17 | €1,049,843 | €901,438 | -€148,405 | -14.1% |
| Financial debts | 170/4 | €1,049,843 | €901,438 | -€148,405 | -14.1% |
| Amounts payable within one year | 42/48 | €296,755 | €289,895 | -€6,860 | -2.3% |
| Current portion of amounts payable after more than one year | 42 | €150,272 | €148,405 | -€1,867 | -1.2% |
| Trade debts | 44 | €63,781 | €88,124 | +€24,343 | +38.2% |
| Suppliers | 440/4 | €63,781 | €88,124 | +€24,343 | +38.2% |
| Taxes, remuneration and social security | 45 | €82,702 | €53,366 | -€29,336 | -35.5% |
| Taxes | 450/3 | €40,147 | €7,174 | -€32,973 | -82.1% |
| Remuneration and social security | 454/9 | €42,555 | €46,192 | +€3,637 | +8.5% |
| Accrued charges and deferred income | 492/3 | €19,582 | €19,870 | +€288 | +1.5% |
| Non-recurring operating income | 76A | - | €1,500 | +€1,500 | |
| Remuneration, social security and pensions | 62 | €336,246 | €347,856 | +€11,610 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €187,431 | €189,618 | +€2,187 | +1.2% |
| Other operating charges | 640/8 | €7,041 | €4,079 | -€2,962 | -42.1% |
| Gross operating margin | 9900 | €964,442 | €932,572 | -€31,871 | -3.3% |
| Operating profit (loss) | 9901 | €433,724 | €391,019 | -€42,705 | -9.8% |
| Financial income | 75/76B | €10,818 | €11,121 | +€303 | +2.8% |
| Recurring financial income | 75 | €10,818 | €11,121 | +€303 | +2.8% |
| Financial charges | 65/66B | €34,352 | €35,102 | +€750 | +2.2% |
| Recurring financial charges | 65 | €34,352 | €35,102 | +€750 | +2.2% |
| Profit (loss) for the period before taxes | 9903 | €410,189 | €367,038 | -€43,151 | -10.5% |
| Income taxes | 67/77 | €101,762 | €96,563 | -€5,199 | -5.1% |
| Profit (loss) for the period | 9904 | €308,427 | €270,475 | -€37,952 | -12.3% |
| Profit (loss) for the period to be appropriated | 9905 | €308,427 | €270,475 | -€37,952 | -12.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.