LOWYCK-DEVROE: 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.
LOWYCK-DEVROE
Largest movements
- Tangible fixed assets +€973,398
up €973,398 (+78.6%), from €1.2m to €2.2m
of which Land and buildings: +€953,410
- Cash -€293,204
down €293,204 (-81.9%), from €357,948 to €64,744
mainly Investment in fixed assets (net) (-€1.1m) and Receivables within one year (-€115,843)
- Receivables within one year +€115,843
up €115,843 (+99.8%), from €116,132 to €231,975
of which Other amounts receivable: +€76,016
- Stocks and contracts +€65,000
new in 2025: €65,000
- Current investments -€30,116
down €30,116 (-10.0%), from €302,111 to €271,995
- Debts after one year +€664,851
up €664,851 (+112.1%), from €592,871 to €1.3m
- Other debts +€68,909
up €68,909, from €0 to €68,909
- Reserves +€60,852
up €60,852 (+4.6%), from €1.3m to €1.4m
of which Distributable reserves: +€60,852
- Current portion of long-term debt +€60,705
up €60,705 (+110.0%), from €55,176 to €115,882
- Gross operating margin -€107,644
down €107,644 (-23.1%), from €465,271 to €357,627
- Taxes -€83,052
down €83,052 (-76.1%), from €109,121 to €26,069
- Financial charges +€81,273
up €81,273, from -€13,879 to €67,393
- Other operating charges +€53,132
up €53,132 (+579.8%), from €9,164 to €62,296
- Depreciation +€52,528
up €52,528 (+43.0%), from €122,177 to €174,705
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 | €2,015,234 | €2,847,988 | +€832,754 | +41.3% |
| Fixed assets | 21/28 | €1,239,043 | €2,212,441 | +€973,398 | +78.6% |
| Tangible fixed assets | 22/27 | €1,238,543 | €2,211,941 | +€973,398 | +78.6% |
| Land and buildings | 22 | €1,133,109 | €2,086,520 | +€953,410 | +84.1% |
| Plant, machinery and equipment | 23 | €34,992 | €32,232 | -€2,759 | -7.9% |
| Furniture and vehicles | 24 | €70,442 | €93,189 | +€22,747 | +32.3% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €776,191 | €635,547 | -€140,644 | -18.1% |
| Stocks and contracts in progress | 3 | - | €65,000 | +€65,000 | |
| Stocks | 30/36 | - | €65,000 | +€65,000 | |
| Amounts receivable within one year | 40/41 | €116,132 | €231,975 | +€115,843 | +99.8% |
| Trade receivables | 40 | €112,535 | €152,361 | +€39,827 | +35.4% |
| Other amounts receivable | 41 | €3,597 | €79,613 | +€76,016 | +2113.2% |
| Current investments | 50/53 | €302,111 | €271,995 | -€30,116 | -10.0% |
| Cash at bank and in hand | 54/58 | €357,948 | €64,744 | -€293,204 | -81.9% |
| Deferred charges and accrued income | 490/1 | - | €1,833 | +€1,833 | |
| Total equity and liabilities | 10/49 | €2,015,234 | €2,847,988 | +€832,754 | +41.3% |
| Equity | 10/15 | €1,335,290 | €1,396,142 | +€60,852 | +4.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,316,690 | €1,377,542 | +€60,852 | +4.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,316,690 | €1,377,542 | +€60,852 | +4.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €679,944 | €1,451,845 | +€771,901 | +113.5% |
| Amounts payable after more than one year | 17 | €592,871 | €1,257,722 | +€664,851 | +112.1% |
| Financial debts | 170/4 | €592,871 | €1,257,722 | +€664,851 | +112.1% |
| Amounts payable within one year | 42/48 | €87,073 | €194,123 | +€107,051 | +122.9% |
| Current portion of amounts payable after more than one year | 42 | €55,176 | €115,882 | +€60,705 | +110.0% |
| Trade debts | 44 | €19,470 | €4,802 | -€14,668 | -75.3% |
| Suppliers | 440/4 | €19,470 | €4,802 | -€14,668 | -75.3% |
| Taxes, remuneration and social security | 45 | €12,426 | €4,531 | -€7,895 | -63.5% |
| Taxes | 450/3 | €12,426 | €4,531 | -€7,895 | -63.5% |
| Other amounts payable | 47/48 | €0 | €68,909 | +€68,909 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €122,177 | €174,705 | +€52,528 | +43.0% |
| Other operating charges | 640/8 | €9,164 | €62,296 | +€53,132 | +579.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €465,271 | €357,627 | -€107,644 | -23.1% |
| Operating profit (loss) | 9901 | €333,930 | €120,626 | -€213,304 | -63.9% |
| Financial income | 75/76B | €2,019 | €33,688 | +€31,669 | +1568.5% |
| Recurring financial income | 75 | €2,019 | €26,514 | +€24,495 | +1213.2% |
| Non-recurring financial income | 76B | - | €7,174 | +€7,174 | |
| Financial charges | 65/66B | -€13,879 | €67,393 | +€81,273 | |
| Recurring financial charges | 65 | -€13,879 | €67,393 | +€81,273 | |
| Profit (loss) for the period before taxes | 9903 | €349,829 | €86,921 | -€262,908 | -75.2% |
| Income taxes | 67/77 | €109,121 | €26,069 | -€83,052 | -76.1% |
| Profit (loss) for the period | 9904 | €240,708 | €60,852 | -€179,856 | -74.7% |
| Profit (loss) for the period to be appropriated | 9905 | €240,708 | €60,852 | -€179,856 | -74.7% |
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 3 October 2026 via checked.be.