LOWLANDS: 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.
LOWLANDS
Largest movements
- Tangible fixed assets -€58,944
down €58,944 (-4.7%), from €1.3m to €1.2m
of which Land and buildings: -€56,659
- Receivables within one year +€50,479
up €50,479 (+28.4%), from €177,489 to €227,968
of which Trade receivables: +€76,680
- Profit (loss) carried forward -€31,088
down €31,088 (-7.7%), from -€402,681 to -€433,769
- Other debts +€15,101
up €15,101 (+1.2%), from €1.3m to €1.3m
- Gross operating margin +€6,820
up €6,820 (+23.8%), from €28,627 to €35,447
- Other operating charges +€358
up €358 (+5.1%), from €7,023 to €7,381
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 | €1,438,290 | €1,437,125 | -€1,165 | -0.1% |
| Fixed assets | 21/28 | €1,259,547 | €1,200,603 | -€58,944 | -4.7% |
| Tangible fixed assets | 22/27 | €1,259,184 | €1,200,240 | -€58,944 | -4.7% |
| Land and buildings | 22 | €1,256,298 | €1,199,639 | -€56,659 | -4.5% |
| Plant, machinery and equipment | 23 | €2,886 | €601 | -€2,286 | -79.2% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €178,743 | €236,523 | +€57,779 | +32.3% |
| Amounts receivable within one year | 40/41 | €177,489 | €227,968 | +€50,479 | +28.4% |
| Trade receivables | 40 | €54,000 | €130,680 | +€76,680 | +142% |
| Other amounts receivable | 41 | €123,489 | €97,288 | -€26,201 | -21.2% |
| Cash at bank and in hand | 54/58 | €1,254 | €8,555 | +€7,300 | +582% |
| Total equity and liabilities | 10/49 | €1,438,290 | €1,437,125 | -€1,165 | -0.1% |
| Equity | 10/15 | €101,319 | €70,231 | -€31,088 | -30.7% |
| Contributions | 10/11 | €504,000 | €504,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€402,681 | -€433,769 | -€31,088 | -7.7% |
| Amounts payable | 17/49 | €1,336,971 | €1,366,894 | +€29,923 | +2.2% |
| Amounts payable after more than one year | 17 | €25,000 | €25,000 | = | 0.0% |
| Other amounts payable | 178/9 | €25,000 | €25,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,311,971 | €1,341,894 | +€29,923 | +2.3% |
| Trade debts | 44 | €1,803 | €7,141 | +€5,338 | +296% |
| Suppliers | 440/4 | €1,803 | €7,141 | +€5,338 | +296% |
| Taxes, remuneration and social security | 45 | €0 | €9,484 | +€9,484 | |
| Taxes | 450/3 | €0 | €9,484 | +€9,484 | |
| Other amounts payable | 47/48 | €1,310,168 | €1,325,269 | +€15,101 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,065 | €58,944 | -€121 | -0.2% |
| Other operating charges | 640/8 | €7,023 | €7,381 | +€358 | +5.1% |
| Gross operating margin | 9900 | €28,627 | €35,447 | +€6,820 | +23.8% |
| Operating profit (loss) | 9901 | -€37,460 | -€30,878 | +€6,583 | +17.6% |
| Financial charges | 65/66B | €241 | €210 | -€31 | -13.0% |
| Recurring financial charges | 65 | €241 | €210 | -€31 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | -€37,702 | -€31,088 | +€6,614 | +17.5% |
| Profit (loss) for the period | 9904 | -€37,702 | -€31,088 | +€6,614 | +17.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,702 | -€31,088 | +€6,614 | +17.5% |
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 16 October 2026 via checked.be.