LOWIE DEVOS: 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.
LOWIE DEVOS
Largest movements
- Cash +€53,473
up €53,473 (+139.2%), from €38,425 to €91,898
mainly Net result for the year (+€68,343) and Depreciation (+€13,640)
- Tangible fixed assets +€13,534
up €13,534 (+30.0%), from €45,139 to €58,672
of which Plant, machinery and equipment: +€18,149
- Receivables within one year -€2,741
down €2,741 (-20.4%), from €13,448 to €10,707
of which Other amounts receivable: -€2,740
- Reserves +€68,343
up €68,343 (+113.5%), from €60,226 to €128,569
- Debts after one year -€8,153
down €8,153 (-43.7%), from €18,650 to €10,497
- Trade debts +€6,238
up €6,238 (+2628.7%), from €237 to €6,475
- Tax, wage and social debts -€2,951
down €2,951 (-26.3%), from €11,222 to €8,270
- Gross operating margin +€34,183
up €34,183 (+51.1%), from €66,872 to €101,054
- Depreciation +€3,278
up €3,278 (+31.6%), from €10,362 to €13,640
- Taxes +€1,601
up €1,601 (+10.1%), from €15,794 to €17,395
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 | €99,778 | €164,085 | +€64,307 | +64.5% |
| Fixed assets | 21/28 | €45,339 | €58,872 | +€13,534 | +29.9% |
| Tangible fixed assets | 22/27 | €45,139 | €58,672 | +€13,534 | +30.0% |
| Plant, machinery and equipment | 23 | €3,062 | €21,211 | +€18,149 | +592.7% |
| Furniture and vehicles | 24 | €25,215 | €22,526 | -€2,689 | -10.7% |
| Other tangible fixed assets | 26 | €16,862 | €14,935 | -€1,927 | -11.4% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €54,439 | €105,212 | +€50,773 | +93.3% |
| Amounts receivable within one year | 40/41 | €13,448 | €10,707 | -€2,741 | -20.4% |
| Trade receivables | 40 | €8,102 | €8,102 | -€0 | 0.0% |
| Other amounts receivable | 41 | €5,345 | €2,605 | -€2,740 | -51.3% |
| Cash at bank and in hand | 54/58 | €38,425 | €91,898 | +€53,473 | +139.2% |
| Deferred charges and accrued income | 490/1 | €2,566 | €2,607 | +€41 | +1.6% |
| Total equity and liabilities | 10/49 | €99,778 | €164,085 | +€64,307 | +64.5% |
| Equity | 10/15 | €61,726 | €130,069 | +€68,343 | +110.7% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €60,226 | €128,569 | +€68,343 | +113.5% |
| Distributable reserves | 133 | €60,226 | €128,569 | +€68,343 | +113.5% |
| Amounts payable | 17/49 | €38,051 | €34,015 | -€4,036 | -10.6% |
| Amounts payable after more than one year | 17 | €18,650 | €10,497 | -€8,153 | -43.7% |
| Financial debts | 170/4 | €18,650 | €10,497 | -€8,153 | -43.7% |
| Amounts payable within one year | 42/48 | €19,401 | €23,364 | +€3,962 | +20.4% |
| Current portion of amounts payable after more than one year | 42 | €7,942 | €8,153 | +€211 | +2.7% |
| Trade debts | 44 | €237 | €6,475 | +€6,238 | +2628.7% |
| Suppliers | 440/4 | €237 | €6,475 | +€6,238 | +2628.7% |
| Taxes, remuneration and social security | 45 | €11,222 | €8,270 | -€2,951 | -26.3% |
| Taxes | 450/3 | €11,222 | €8,270 | -€2,951 | -26.3% |
| Other amounts payable | 47/48 | - | €465 | +€465 | |
| Accrued charges and deferred income | 492/3 | - | €155 | +€155 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,362 | €13,640 | +€3,278 | +31.6% |
| Other operating charges | 640/8 | €454 | €990 | +€536 | +117.9% |
| Gross operating margin | 9900 | €66,872 | €101,054 | +€34,183 | +51.1% |
| Operating profit (loss) | 9901 | €56,055 | €86,425 | +€30,369 | +54.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €863 | €687 | -€176 | -20.4% |
| Recurring financial charges | 65 | €863 | €687 | -€176 | -20.4% |
| Profit (loss) for the period before taxes | 9903 | €55,193 | €85,738 | +€30,545 | +55.3% |
| Income taxes | 67/77 | €15,794 | €17,395 | +€1,601 | +10.1% |
| Profit (loss) for the period | 9904 | €39,399 | €68,343 | +€28,944 | +73.5% |
| Profit (loss) for the period to be appropriated | 9905 | €39,399 | €68,343 | +€28,944 | +73.5% |
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.