SHIPYARD LOWYCK: 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.
SHIPYARD LOWYCK
Largest movements
- Tangible fixed assets -€60,227
down €60,227 (-29.0%), from €207,974 to €147,747
of which Plant, machinery and equipment: -€41,083
- Cash +€56,013
up €56,013 (+152%), from €36,896 to €92,909
mainly Depreciation (+€60,227) and Trade debts (+€29,090)
- Receivables within one year -€24,820
down €24,820 (-19.5%), from €126,995 to €102,175
of which Trade receivables: -€16,432
- Debts after one year -€46,282
down €46,282 (-22.8%), from €202,700 to €156,418
- Trade debts +€29,090
up €29,090 (+105%), from €27,820 to €56,910
- Accrued charges and deferred income -€15,028
down €15,028 (-92.1%), from €16,309 to €1,282
- Reserves +€8,506
up €8,506 (+4.2%), from €203,388 to €211,894
of which Distributable reserves: +€8,506
- Other debts -€8,492
down €8,492 (-40.0%), from €21,239 to €12,747
- Gross operating margin -€46,817
down €46,817 (-20.0%), from €233,866 to €187,049
- Financial income -€34,598
down €34,598 (-98.8%), from €35,030 to €433
- Write-downs -€18,892
down €18,892 (-2,286%), from -€826 to -€19,719
- Staff costs -€12,416
down €12,416 (-10.6%), from €117,018 to €104,601
- Financial charges -€6,273
down €6,273 (-25.2%), from €24,853 to €18,580
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 | €717,384 | €687,732 | -€29,652 | -4.1% |
| Fixed assets | 21/28 | €343,454 | €283,227 | -€60,227 | -17.5% |
| Tangible fixed assets | 22/27 | €207,974 | €147,747 | -€60,227 | -29.0% |
| Land and buildings | 22 | €44,434 | €34,442 | -€9,992 | -22.5% |
| Plant, machinery and equipment | 23 | €134,255 | €93,172 | -€41,083 | -30.6% |
| Furniture and vehicles | 24 | €29,285 | €20,133 | -€9,152 | -31.3% |
| Financial fixed assets | 28 | €135,480 | €135,480 | = | 0.0% |
| Current assets | 29/58 | €373,930 | €404,505 | +€30,576 | +8.2% |
| Stocks and contracts in progress | 3 | €10,023 | €16,278 | +€6,255 | +62.4% |
| Stocks | 30/36 | €10,023 | €16,278 | +€6,255 | +62.4% |
| Amounts receivable within one year | 40/41 | €126,995 | €102,175 | -€24,820 | -19.5% |
| Trade receivables | 40 | €89,110 | €72,678 | -€16,432 | -18.4% |
| Other amounts receivable | 41 | €37,884 | €29,497 | -€8,387 | -22.1% |
| Current investments | 50/53 | €187,183 | €187,183 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €36,896 | €92,909 | +€56,013 | +152% |
| Deferred charges and accrued income | 490/1 | €12,834 | €5,960 | -€6,874 | -53.6% |
| Total equity and liabilities | 10/49 | €717,384 | €687,732 | -€29,652 | -4.1% |
| Equity | 10/15 | €278,388 | €286,894 | +€8,506 | +3.1% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Contributions outside capital | 11 | €75,000 | €75,000 | = | 0.0% |
| Other | 1109/19 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €203,388 | €211,894 | +€8,506 | +4.2% |
| Non-distributable reserves | 130/1 | €187,183 | €187,183 | = | 0.0% |
| Own shares acquired | 1312 | €187,183 | €187,183 | = | 0.0% |
| Distributable reserves | 133 | €16,205 | €24,711 | +€8,506 | +52.5% |
| Amounts payable | 17/49 | €438,996 | €400,838 | -€38,158 | -8.7% |
| Amounts payable after more than one year | 17 | €202,700 | €156,418 | -€46,282 | -22.8% |
| Financial debts | 170/4 | €202,700 | €156,418 | -€46,282 | -22.8% |
| Amounts payable within one year | 42/48 | €219,986 | €243,138 | +€23,152 | +10.5% |
| Current portion of amounts payable after more than one year | 42 | €47,461 | €52,146 | +€4,685 | +9.9% |
| Financial debts | 43 | €100,000 | €100,000 | = | 0.0% |
| Credit institutions | 430/8 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €27,820 | €56,910 | +€29,090 | +105% |
| Suppliers | 440/4 | €27,820 | €56,910 | +€29,090 | +105% |
| Advances received on contracts in progress | 46 | - | €2,549 | +€2,549 | |
| Taxes, remuneration and social security | 45 | €23,467 | €18,787 | -€4,680 | -19.9% |
| Taxes | 450/3 | €12,916 | €8,037 | -€4,880 | -37.8% |
| Remuneration and social security | 454/9 | €10,551 | €10,750 | +€200 | +1.9% |
| Other amounts payable | 47/48 | €21,239 | €12,747 | -€8,492 | -40.0% |
| Accrued charges and deferred income | 492/3 | €16,309 | €1,282 | -€15,028 | -92.1% |
| Remuneration, social security and pensions | 62 | €117,018 | €104,601 | -€12,416 | -10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,088 | €60,227 | -€2,861 | -4.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€826 | -€19,719 | -€18,892 | -2,286% |
| Other operating charges | 640/8 | €8,817 | €8,768 | -€49 | -0.6% |
| Gross operating margin | 9900 | €233,866 | €187,049 | -€46,817 | -20.0% |
| Operating profit (loss) | 9901 | €45,769 | €33,171 | -€12,598 | -27.5% |
| Financial income | 75/76B | €35,030 | €433 | -€34,598 | -98.8% |
| Recurring financial income | 75 | €35,030 | €433 | -€34,598 | -98.8% |
| Financial charges | 65/66B | €24,853 | €18,580 | -€6,273 | -25.2% |
| Recurring financial charges | 65 | €24,853 | €18,580 | -€6,273 | -25.2% |
| Profit (loss) for the period before taxes | 9903 | €55,947 | €15,024 | -€40,923 | -73.1% |
| Income taxes | 67/77 | €7,048 | €6,517 | -€530 | -7.5% |
| Profit (loss) for the period | 9904 | €48,899 | €8,506 | -€40,393 | -82.6% |
| Profit (loss) for the period to be appropriated | 9905 | €48,899 | €8,506 | -€40,393 | -82.6% |
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 19 October 2026 via checked.be.