LOWLANDS 3: 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 3
Largest movements
- Cash +€59,864
up €59,864 (+1,984%), from €3,018 to €62,881
mainly Trade debts (+€80,051) and Stocks and contracts (+€42,182)
- Tangible fixed assets -€52,534
down €52,534 (-82.9%), from €63,359 to €10,825
- Stocks and contracts -€42,182
down €42,182 (-7.9%), from €531,092 to €488,910
- Profit (loss) carried forward -€154,096
down €154,096 (-15.5%), from -€997,197 to -€1.2m
- Trade debts +€80,051
up €80,051 (+143%), from €56,026 to €136,077
- Other debts +€27,542
up €27,542 (+1.8%), from €1.5m to €1.5m
- Tax, wage and social debts +€6,939
up €6,939 (+112%), from €6,203 to €13,142
of which Taxes: +€6,144
- Gross operating margin +€141,173
up €141,173 (+60.4%), from -€233,659 to -€92,486
- Depreciation -€17,901
down €17,901 (-62.7%), from €28,551 to €10,650
- Other operating charges +€6,292
up €6,292 (+120%), from €5,257 to €11,549
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 | €602,180 | €562,616 | -€39,564 | -6.6% |
| Fixed assets | 21/28 | €63,359 | €10,825 | -€52,534 | -82.9% |
| Tangible fixed assets | 22/27 | €63,359 | €10,825 | -€52,534 | -82.9% |
| Furniture and vehicles | 24 | €63,359 | €10,825 | -€52,534 | -82.9% |
| Current assets | 29/58 | €538,821 | €551,791 | +€12,970 | +2.4% |
| Stocks and contracts in progress | 3 | €531,092 | €488,910 | -€42,182 | -7.9% |
| Stocks | 30/36 | €531,092 | €488,910 | -€42,182 | -7.9% |
| Amounts receivable within one year | 40/41 | €4,712 | €0 | -€4,712 | -100% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €4,712 | €0 | -€4,712 | -100% |
| Cash at bank and in hand | 54/58 | €3,018 | €62,881 | +€59,864 | +1,984% |
| Total equity and liabilities | 10/49 | €602,180 | €562,616 | -€39,564 | -6.6% |
| Equity | 10/15 | -€980,548 | -€1,134,644 | -€154,096 | -15.7% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €1,649 | €1,649 | = | 0.0% |
| Distributable reserves | 133 | €1,649 | €1,649 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€997,197 | -€1,151,293 | -€154,096 | -15.5% |
| Amounts payable | 17/49 | €1,582,728 | €1,697,261 | +€114,533 | +7.2% |
| Amounts payable within one year | 42/48 | €1,582,728 | €1,697,261 | +€114,533 | +7.2% |
| Trade debts | 44 | €56,026 | €136,077 | +€80,051 | +143% |
| Suppliers | 440/4 | €56,026 | €136,077 | +€80,051 | +143% |
| Taxes, remuneration and social security | 45 | €6,203 | €13,142 | +€6,939 | +112% |
| Taxes | 450/3 | €639 | €6,783 | +€6,144 | +962% |
| Remuneration and social security | 454/9 | €5,564 | €6,360 | +€795 | +14.3% |
| Other amounts payable | 47/48 | €1,520,498 | €1,548,041 | +€27,542 | +1.8% |
| Remuneration, social security and pensions | 62 | €39,254 | €38,893 | -€361 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,551 | €10,650 | -€17,901 | -62.7% |
| Other operating charges | 640/8 | €5,257 | €11,549 | +€6,292 | +120% |
| Gross operating margin | 9900 | -€233,659 | -€92,486 | +€141,173 | +60.4% |
| Operating profit (loss) | 9901 | -€306,721 | -€153,578 | +€153,143 | +49.9% |
| Financial income | 75/76B | €0 | €31 | +€31 | |
| Recurring financial income | 75 | €0 | €31 | +€31 | |
| Financial charges | 65/66B | €232 | €229 | -€3 | -1.4% |
| Recurring financial charges | 65 | €232 | €229 | -€3 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | -€306,953 | -€153,776 | +€153,177 | +49.9% |
| Income taxes | 67/77 | €571 | €320 | -€251 | -43.9% |
| Profit (loss) for the period | 9904 | -€307,524 | -€154,096 | +€153,428 | +49.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€307,524 | -€154,096 | +€153,428 | +49.9% |
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 18 October 2026 via checked.be.