Lowie Neirinck: what changed
Lowie Neirinck
Largest movements
- Cash +€39,658
up €39,658 (+406%), from €9,778 to €49,437
mainly Net result for the year (+€15,537) and Other debts (+€14,151)
- Receivables within one year -€9,858
down €9,858 (-21.0%), from €46,950 to €37,092
of which Trade receivables: -€8,808
- Stocks and contracts +€7,388
up €7,388 (+725%), from €1,020 to €8,407
- Tangible fixed assets -€5,833
down €5,833 (-44.0%), from €13,249 to €7,416
- Reserves +€14,704
up €14,704 (+94.6%), from €15,547 to €30,251
- Other debts +€14,151
up €14,151 (+566%), from €2,499 to €16,650
- Tax, wage and social debts +€4,566
up €4,566 (+136%), from €3,349 to €7,916
- Trade debts -€3,000
down €3,000 (-62.0%), from €4,840 to €1,840
- Gross operating margin +€8,891
up €8,891 (+42.1%), from €21,121 to €30,012
- Taxes +€2,125
up €2,125 (+84.6%), from €2,512 to €4,637
- Depreciation +€1,582
up €1,582 (+37.2%), from €4,251 to €5,833
- Financial charges +€1,031
up €1,031 (+40.6%), from €2,540 to €3,571
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €71,230 | €102,635 | +€31,406 | +44.1% |
| Fixed assets | 21/28 | €13,249 | €7,416 | -€5,833 | -44.0% |
| Tangible fixed assets | 22/27 | €13,249 | €7,416 | -€5,833 | -44.0% |
| Furniture and vehicles | 24 | €13,249 | €7,416 | -€5,833 | -44.0% |
| Current assets | 29/58 | €57,981 | €95,220 | +€37,239 | +64.2% |
| Stocks and contracts in progress | 3 | €1,020 | €8,407 | +€7,388 | +725% |
| Stocks | 30/36 | €1,020 | €8,407 | +€7,388 | +725% |
| Amounts receivable within one year | 40/41 | €46,950 | €37,092 | -€9,858 | -21.0% |
| Trade receivables | 40 | €44,557 | €35,748 | -€8,808 | -19.8% |
| Other amounts receivable | 41 | €2,393 | €1,344 | -€1,050 | -43.9% |
| Cash at bank and in hand | 54/58 | €9,778 | €49,437 | +€39,658 | +406% |
| Deferred charges and accrued income | 490/1 | €233 | €284 | +€51 | +22.1% |
| Total equity and liabilities | 10/49 | €71,230 | €102,635 | +€31,406 | +44.1% |
| Equity | 10/15 | €18,047 | €32,751 | +€14,704 | +81.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Contributions outside capital | 11 | - | €2,500 | +€2,500 | |
| Other | 1109/19 | - | €2,500 | +€2,500 | |
| Reserves | 13 | €15,547 | €30,251 | +€14,704 | +94.6% |
| Distributable reserves | 133 | €15,547 | €30,251 | +€14,704 | +94.6% |
| Amounts payable | 17/49 | €53,183 | €69,885 | +€16,702 | +31.4% |
| Amounts payable after more than one year | 17 | €40,000 | €40,000 | = | 0.0% |
| Other amounts payable | 178/9 | €40,000 | €40,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €10,688 | €26,410 | +€15,722 | +147% |
| Financial debts | 43 | - | €4 | +€4 | |
| Credit institutions | 430/8 | - | €4 | +€4 | |
| Trade debts | 44 | €4,840 | €1,840 | -€3,000 | -62.0% |
| Suppliers | 440/4 | €4,840 | €1,840 | -€3,000 | -62.0% |
| Taxes, remuneration and social security | 45 | €3,349 | €7,916 | +€4,566 | +136% |
| Taxes | 450/3 | €3,349 | €7,916 | +€4,566 | +136% |
| Other amounts payable | 47/48 | €2,499 | €16,650 | +€14,151 | +566% |
| Accrued charges and deferred income | 492/3 | €2,494 | €3,475 | +€980 | +39.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,251 | €5,833 | +€1,582 | +37.2% |
| Other operating charges | 640/8 | €404 | €434 | +€30 | +7.5% |
| Non-recurring operating charges | 66A | €1,463 | - | -€1,463 | |
| Gross operating margin | 9900 | €21,121 | €30,012 | +€8,891 | +42.1% |
| Operating profit (loss) | 9901 | €15,003 | €23,745 | +€8,742 | +58.3% |
| Financial charges | 65/66B | €2,540 | €3,571 | +€1,031 | +40.6% |
| Recurring financial charges | 65 | €2,540 | €3,571 | +€1,031 | +40.6% |
| Profit (loss) for the period before taxes | 9903 | €12,463 | €20,174 | +€7,711 | +61.9% |
| Income taxes | 67/77 | €2,512 | €4,637 | +€2,125 | +84.6% |
| Profit (loss) for the period | 9904 | €9,950 | €15,537 | +€5,587 | +56.1% |
| Profit (loss) for the period to be appropriated | 9905 | €9,950 | €15,537 | +€5,587 | +56.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.