LOWMAR: 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.
LOWMAR
Largest movements
- Cash -€13,672
down €13,672 (-32.6%), from €41,908 to €28,236
mainly Investment in fixed assets (net) (-€26,201) and Net result for the year (-€16,923)
- Tangible fixed assets +€11,713
up €11,713 (+40.2%), from €29,115 to €40,828
of which Plant, machinery and equipment: +€15,430
- Deferred charges and accrued income -€3,824
down €3,824 (-39.3%), from €9,741 to €5,917
- Stocks and contracts -€1,988
down €1,988 (-11.3%), from €17,562 to €15,574
- Profit (loss) carried forward -€16,923
down €16,923 (-9.0%), from -€187,660 to -€204,583
- Debts after one year +€11,182
up €11,182 (+86.2%), from €12,979 to €24,161
- Trade debts -€4,922
down €4,922 (-11.8%), from €41,537 to €36,615
- Current portion of long-term debt +€4,892
up €4,892 (+90.1%), from €5,429 to €10,322
- Advances received -€2,763
no longer reported in 2025 (was €2,763)
- Gross operating margin +€10,101
up €10,101 (+17.6%), from €57,459 to €67,560
- Staff costs +€3,782
up €3,782 (+6.3%), from €59,726 to €63,509
- Other operating charges +€2,974
up €2,974 (+159.7%), from €1,862 to €4,837
- Depreciation +€2,139
up €2,139 (+17.3%), from €12,348 to €14,487
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 | €99,843 | €92,450 | -€7,393 | -7.4% |
| Fixed assets | 21/28 | €29,956 | €41,669 | +€11,713 | +39.1% |
| Tangible fixed assets | 22/27 | €29,115 | €40,828 | +€11,713 | +40.2% |
| Plant, machinery and equipment | 23 | €21,607 | €37,037 | +€15,430 | +71.4% |
| Furniture and vehicles | 24 | €7,508 | €3,791 | -€3,716 | -49.5% |
| Financial fixed assets | 28 | €841 | €841 | = | 0.0% |
| Current assets | 29/58 | €69,887 | €50,781 | -€19,107 | -27.3% |
| Stocks and contracts in progress | 3 | €17,562 | €15,574 | -€1,988 | -11.3% |
| Stocks | 30/36 | €17,562 | €15,574 | -€1,988 | -11.3% |
| Amounts receivable within one year | 40/41 | €676 | €1,054 | +€378 | +55.8% |
| Trade receivables | 40 | €656 | €249 | -€407 | -62.0% |
| Other amounts receivable | 41 | €20 | €805 | +€784 | +3849.0% |
| Cash at bank and in hand | 54/58 | €41,908 | €28,236 | -€13,672 | -32.6% |
| Deferred charges and accrued income | 490/1 | €9,741 | €5,917 | -€3,824 | -39.3% |
| Total equity and liabilities | 10/49 | €99,843 | €92,450 | -€7,393 | -7.4% |
| Equity | 10/15 | -€105,600 | -€122,523 | -€16,923 | -16.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €75,860 | €75,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €74,000 | €74,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€187,660 | -€204,583 | -€16,923 | -9.0% |
| Amounts payable | 17/49 | €205,443 | €214,973 | +€9,530 | +4.6% |
| Amounts payable after more than one year | 17 | €12,979 | €24,161 | +€11,182 | +86.2% |
| Financial debts | 170/4 | €12,979 | €24,161 | +€11,182 | +86.2% |
| Amounts payable within one year | 42/48 | €191,911 | €188,076 | -€3,834 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €5,429 | €10,322 | +€4,892 | +90.1% |
| Trade debts | 44 | €41,537 | €36,615 | -€4,922 | -11.8% |
| Suppliers | 440/4 | €41,537 | €36,615 | -€4,922 | -11.8% |
| Advances received on contracts in progress | 46 | €2,763 | - | -€2,763 | |
| Taxes, remuneration and social security | 45 | €3,963 | €4,085 | +€122 | +3.1% |
| Taxes | 450/3 | €2,336 | €1,766 | -€570 | -24.4% |
| Remuneration and social security | 454/9 | €1,627 | €2,319 | +€692 | +42.5% |
| Other amounts payable | 47/48 | €138,218 | €137,054 | -€1,163 | -0.8% |
| Accrued charges and deferred income | 492/3 | €553 | €2,735 | +€2,182 | +394.7% |
| Remuneration, social security and pensions | 62 | €59,726 | €63,509 | +€3,782 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,348 | €14,487 | +€2,139 | +17.3% |
| Other operating charges | 640/8 | €1,862 | €4,837 | +€2,974 | +159.7% |
| Gross operating margin | 9900 | €57,459 | €67,560 | +€10,101 | +17.6% |
| Operating profit (loss) | 9901 | -€16,477 | -€15,272 | +€1,205 | +7.3% |
| Financial income | 75/76B | €50 | €28 | -€21 | -42.9% |
| Recurring financial income | 75 | €50 | €28 | -€21 | -42.9% |
| Financial charges | 65/66B | €1,155 | €1,475 | +€320 | +27.7% |
| Recurring financial charges | 65 | €1,155 | €1,475 | +€320 | +27.7% |
| Profit (loss) for the period before taxes | 9903 | -€17,583 | -€16,719 | +€864 | +4.9% |
| Income taxes | 67/77 | €191 | €205 | +€13 | +6.9% |
| Profit (loss) for the period | 9904 | -€17,774 | -€16,923 | +€851 | +4.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,774 | -€16,923 | +€851 | +4.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.