Margodt Lowie: what changed
Margodt Lowie
Largest movements
- Receivables within one year +€9,992
up €9,992 (+174%), from €5,728 to €15,720
of which Trade receivables: +€7,813
- Tangible fixed assets +€5,980
up €5,980 (+23.6%), from €25,371 to €31,351
of which Plant, machinery and equipment: +€8,529
- Stocks and contracts +€5,670
up €5,670 (+64.1%), from €8,843 to €14,513
of which Stocks: +€3,086
- Cash +€1,537
up €1,537 (+16.0%), from €9,597 to €11,134
mainly Net result for the year (+€17,841) and Depreciation (+€7,495)
- Deferred charges and accrued income -€762
down €762 (-52.1%), from €1,462 to €700
- Reserves +€17,841
up €17,841 (+70.2%), from €25,407 to €43,248
- Current portion of long-term debt +€3,214
up €3,214 (+84.2%), from €3,817 to €7,031
- Debts after one year +€1,147
up €1,147 (+8.6%), from €13,409 to €14,557
- Trade debts +€902
up €902 (+92.2%), from €978 to €1,880
- Gross operating margin +€8,119
up €8,119 (+35.0%), from €23,187 to €31,305
- Depreciation +€2,333
up €2,333 (+45.2%), from €5,162 to €7,495
- Taxes +€1,220
up €1,220 (+40.9%), from €2,983 to €4,203
- Financial charges +€376
up €376 (+47.1%), from €798 to €1,173
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €51,001 | €73,418 | +€22,417 | +44.0% |
| Fixed assets | 21/28 | €25,371 | €31,351 | +€5,980 | +23.6% |
| Tangible fixed assets | 22/27 | €25,371 | €31,351 | +€5,980 | +23.6% |
| Plant, machinery and equipment | 23 | - | €8,529 | +€8,529 | |
| Furniture and vehicles | 24 | €25,371 | €22,822 | -€2,549 | -10.0% |
| Current assets | 29/58 | €25,630 | €42,067 | +€16,437 | +64.1% |
| Stocks and contracts in progress | 3 | €8,843 | €14,513 | +€5,670 | +64.1% |
| Stocks | 30/36 | €2,421 | €5,508 | +€3,086 | +127% |
| Contracts in progress | 37 | €6,422 | €9,005 | +€2,583 | +40.2% |
| Amounts receivable within one year | 40/41 | €5,728 | €15,720 | +€9,992 | +174% |
| Trade receivables | 40 | €5,710 | €13,522 | +€7,813 | +137% |
| Other amounts receivable | 41 | €18 | €2,198 | +€2,180 | +12,110% |
| Cash at bank and in hand | 54/58 | €9,597 | €11,134 | +€1,537 | +16.0% |
| Deferred charges and accrued income | 490/1 | €1,462 | €700 | -€762 | -52.1% |
| Total equity and liabilities | 10/49 | €51,001 | €73,418 | +€22,417 | +44.0% |
| Equity | 10/15 | €27,907 | €45,748 | +€17,841 | +63.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €25,407 | €43,248 | +€17,841 | +70.2% |
| Distributable reserves | 133 | €25,407 | €43,248 | +€17,841 | +70.2% |
| Amounts payable | 17/49 | €23,094 | €27,670 | +€4,575 | +19.8% |
| Amounts payable after more than one year | 17 | €13,409 | €14,557 | +€1,147 | +8.6% |
| Financial debts | 170/4 | €13,409 | €14,557 | +€1,147 | +8.6% |
| Amounts payable within one year | 42/48 | €9,685 | €13,113 | +€3,428 | +35.4% |
| Current portion of amounts payable after more than one year | 42 | €3,817 | €7,031 | +€3,214 | +84.2% |
| Trade debts | 44 | €978 | €1,880 | +€902 | +92.2% |
| Suppliers | 440/4 | €978 | €1,880 | +€902 | +92.2% |
| Taxes, remuneration and social security | 45 | €4,890 | €4,203 | -€687 | -14.1% |
| Taxes | 450/3 | €4,890 | €4,203 | -€687 | -14.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,162 | €7,495 | +€2,333 | +45.2% |
| Other operating charges | 640/8 | €577 | €593 | +€16 | +2.8% |
| Gross operating margin | 9900 | €23,187 | €31,305 | +€8,119 | +35.0% |
| Operating profit (loss) | 9901 | €17,447 | €23,217 | +€5,770 | +33.1% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €798 | €1,173 | +€376 | +47.1% |
| Recurring financial charges | 65 | €798 | €1,173 | +€376 | +47.1% |
| Profit (loss) for the period before taxes | 9903 | €16,650 | €22,044 | +€5,394 | +32.4% |
| Income taxes | 67/77 | €2,983 | €4,203 | +€1,220 | +40.9% |
| Profit (loss) for the period | 9904 | €13,667 | €17,841 | +€4,174 | +30.5% |
| Profit (loss) for the period to be appropriated | 9905 | €13,667 | €17,841 | +€4,174 | +30.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.