LOWINE: 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.
LOWINE
Largest movements
- Tangible fixed assets -€12,075
down €12,075 (-70.6%), from €17,107 to €5,032
of which Plant, machinery and equipment: -€8,006
- Stocks and contracts -€2,758
down €2,758 (-5.4%), from €51,359 to €48,601
- Cash +€1,448
up €1,448 (+10.7%), from €13,531 to €14,979
mainly Depreciation (+€12,075) and Stocks and contracts (+€2,758)
- Other debts -€5,556
down €5,556 (-8.6%), from €64,942 to €59,386
- Profit (loss) carried forward -€5,008
down €5,008 (-41.3%), from -€12,126 to -€17,133
- Trade debts -€2,780
down €2,780 (-12.2%), from €22,798 to €20,019
- Tax, wage and social debts +€1,186
up €1,186 (+189.0%), from €628 to €1,814
of which Taxes: +€1,186
- Investment grants -€902
down €902 (-88.1%), from €1,024 to €122
- Gross operating margin -€5,492
down €5,492 (-34.3%), from €15,998 to €10,506
- Other operating charges +€789
up €789 (+43.9%), from €1,796 to €2,585
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 | €89,923 | €76,638 | -€13,285 | -14.8% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €23,197 | €11,122 | -€12,075 | -52.1% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €17,107 | €5,032 | -€12,075 | -70.6% |
| Plant, machinery and equipment | 23 | €10,674 | €2,668 | -€8,006 | -75.0% |
| Furniture and vehicles | 24 | €6,433 | €2,364 | -€4,069 | -63.3% |
| Financial fixed assets | 28 | €6,090 | €6,090 | = | 0.0% |
| Current assets | 29/58 | €66,726 | €65,516 | -€1,210 | -1.8% |
| Stocks and contracts in progress | 3 | €51,359 | €48,601 | -€2,758 | -5.4% |
| Stocks | 30/36 | €51,359 | €48,601 | -€2,758 | -5.4% |
| Amounts receivable within one year | 40/41 | €851 | €469 | -€381 | -44.8% |
| Trade receivables | 40 | €1 | - | -€1 | |
| Other amounts receivable | 41 | €849 | €469 | -€380 | -44.8% |
| Cash at bank and in hand | 54/58 | €13,531 | €14,979 | +€1,448 | +10.7% |
| Deferred charges and accrued income | 490/1 | €984 | €1,466 | +€482 | +48.9% |
| Total equity and liabilities | 10/49 | €89,923 | €76,638 | -€13,285 | -14.8% |
| Equity | 10/15 | €1,299 | -€4,611 | -€5,910 | |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,126 | -€17,133 | -€5,008 | -41.3% |
| Investment grants | 15 | €1,024 | €122 | -€902 | -88.1% |
| Provisions and deferred taxes | 16 | €256 | €30 | -€226 | -88.1% |
| Deferred taxes | 168 | €256 | €30 | -€226 | -88.1% |
| Amounts payable | 17/49 | €88,368 | €81,219 | -€7,149 | -8.1% |
| Amounts payable within one year | 42/48 | €88,368 | €81,219 | -€7,149 | -8.1% |
| Trade debts | 44 | €22,798 | €20,019 | -€2,780 | -12.2% |
| Suppliers | 440/4 | €22,798 | €20,019 | -€2,780 | -12.2% |
| Taxes, remuneration and social security | 45 | €628 | €1,814 | +€1,186 | +189.0% |
| Taxes | 450/3 | €128 | €1,314 | +€1,186 | +929.7% |
| Remuneration and social security | 454/9 | €500 | €500 | = | 0.0% |
| Other amounts payable | 47/48 | €64,942 | €59,386 | -€5,556 | -8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,135 | €12,075 | -€60 | -0.5% |
| Other operating charges | 640/8 | €1,796 | €2,585 | +€789 | +43.9% |
| Gross operating margin | 9900 | €15,998 | €10,506 | -€5,492 | -34.3% |
| Operating profit (loss) | 9901 | €2,067 | -€4,153 | -€6,220 | |
| Financial income | 75/76B | €1,132 | €1,128 | -€4 | -0.4% |
| Recurring financial income | 75 | €1,132 | €1,128 | -€4 | -0.4% |
| Financial charges | 65/66B | €1,745 | €1,850 | +€105 | +6.0% |
| Recurring financial charges | 65 | €1,745 | €1,850 | +€105 | +6.0% |
| Profit (loss) for the period before taxes | 9903 | €1,454 | -€4,876 | -€6,329 | |
| Income taxes | 67/77 | €128 | €132 | +€4 | +3.1% |
| Profit (loss) for the period | 9904 | €1,326 | -€5,008 | -€6,333 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,326 | -€5,008 | -€6,333 |
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 6 October 2026 via checked.be.