LOUBO PROJECTS: 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.
LOUBO PROJECTS
Largest movements
- Receivables within one year -€104,327
down €104,327 (-89.0%), from €117,264 to €12,936
of which Other amounts receivable: -€109,179
- Current investments +€34,957
up €34,957 (+37.2%), from €94,036 to €128,994
- Cash -€16,932
down €16,932 (-10.4%), from €163,128 to €146,196
mainly Other debts (-€82,308) and Investment in fixed assets (net) (-€73,998)
- Tangible fixed assets +€14,683
up €14,683 (+2.5%), from €579,434 to €594,116
of which Furniture and vehicles: +€7,497
- Other debts -€82,308
down €82,308 (-63.7%), from €129,308 to €47,000
- Reserves +€68,520
up €68,520 (+11.6%), from €592,922 to €661,442
of which Distributable reserves: +€79,580
- Debts after one year -€33,231
down €33,231 (-28.7%), from €115,776 to €82,545
- Tax, wage and social debts -€27,693
down €27,693 (-46.6%), from €59,419 to €31,726
- Financial income -€7,564
down €7,564 (-6.7%), from €112,551 to €104,987
- Depreciation +€7,272
up €7,272 (+14.0%), from €52,044 to €59,316
- Taxes -€5,646
down €5,646 (-19.8%), from €28,555 to €22,909
- Staff costs +€2,821
new in 2025: €2,821
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 | €1,273,326 | €1,203,990 | -€69,336 | -5.4% |
| Fixed assets | 21/28 | €897,752 | €912,435 | +€14,683 | +1.6% |
| Tangible fixed assets | 22/27 | €579,434 | €594,116 | +€14,683 | +2.5% |
| Land and buildings | 22 | €561,010 | €566,338 | +€5,328 | +0.9% |
| Plant, machinery and equipment | 23 | €896 | €1,180 | +€284 | +31.6% |
| Furniture and vehicles | 24 | €9,163 | €16,661 | +€7,497 | +81.8% |
| Other tangible fixed assets | 26 | €8,365 | €9,938 | +€1,573 | +18.8% |
| Financial fixed assets | 28 | €318,319 | €318,319 | = | 0.0% |
| Current assets | 29/58 | €375,574 | €291,555 | -€84,019 | -22.4% |
| Amounts receivable within one year | 40/41 | €117,264 | €12,936 | -€104,327 | -89.0% |
| Trade receivables | 40 | €0 | €4,852 | +€4,852 | |
| Other amounts receivable | 41 | €117,264 | €8,084 | -€109,179 | -93.1% |
| Current investments | 50/53 | €94,036 | €128,994 | +€34,957 | +37.2% |
| Cash at bank and in hand | 54/58 | €163,128 | €146,196 | -€16,932 | -10.4% |
| Deferred charges and accrued income | 490/1 | €1,146 | €3,429 | +€2,283 | +199.1% |
| Total equity and liabilities | 10/49 | €1,273,326 | €1,203,990 | -€69,336 | -5.4% |
| Equity | 10/15 | €914,009 | €982,529 | +€68,520 | +7.5% |
| Contributions | 10/11 | €321,087 | €321,087 | = | 0.0% |
| Reserves | 13 | €592,922 | €661,442 | +€68,520 | +11.6% |
| Tax-exempt reserves | 132 | €58,693 | €47,633 | -€11,060 | -18.8% |
| Distributable reserves | 133 | €534,229 | €613,809 | +€79,580 | +14.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €19,564 | €15,878 | -€3,687 | -18.8% |
| Deferred taxes | 168 | €19,564 | €15,878 | -€3,687 | -18.8% |
| Amounts payable | 17/49 | €339,753 | €205,583 | -€134,169 | -39.5% |
| Amounts payable after more than one year | 17 | €115,776 | €82,545 | -€33,231 | -28.7% |
| Financial debts | 170/4 | €115,776 | €82,545 | -€33,231 | -28.7% |
| Amounts payable within one year | 42/48 | €223,977 | €123,038 | -€100,939 | -45.1% |
| Current portion of amounts payable after more than one year | 42 | €32,195 | €33,231 | +€1,036 | +3.2% |
| Trade debts | 44 | €3,054 | €7,335 | +€4,280 | +140.1% |
| Suppliers | 440/4 | €3,054 | €7,335 | +€4,280 | +140.1% |
| Advances received on contracts in progress | 46 | - | €3,747 | +€3,747 | |
| Taxes, remuneration and social security | 45 | €59,419 | €31,726 | -€27,693 | -46.6% |
| Taxes | 450/3 | €59,419 | €31,726 | -€27,693 | -46.6% |
| Other amounts payable | 47/48 | €129,308 | €47,000 | -€82,308 | -63.7% |
| Non-recurring operating income | 76A | €9,891 | €0 | -€9,891 | -100.0% |
| Remuneration, social security and pensions | 62 | - | €2,821 | +€2,821 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,044 | €59,316 | +€7,272 | +14.0% |
| Other operating charges | 640/8 | €3,288 | €3,838 | +€550 | +16.7% |
| Gross operating margin | 9900 | €94,957 | €95,906 | +€948 | +1.0% |
| Operating profit (loss) | 9901 | €39,626 | €29,930 | -€9,696 | -24.5% |
| Financial income | 75/76B | €112,551 | €104,987 | -€7,564 | -6.7% |
| Recurring financial income | 75 | €112,551 | €104,987 | -€7,564 | -6.7% |
| Financial charges | 65/66B | €6,675 | €7,355 | +€680 | +10.2% |
| Recurring financial charges | 65 | €6,675 | €7,355 | +€680 | +10.2% |
| Profit (loss) for the period before taxes | 9903 | €145,501 | €127,562 | -€17,939 | -12.3% |
| Transfer from deferred taxes | 780 | €3,717 | €3,687 | -€30 | -0.8% |
| Income taxes | 67/77 | €28,555 | €22,909 | -€5,646 | -19.8% |
| Profit (loss) for the period | 9904 | €120,664 | €108,340 | -€12,324 | -10.2% |
| Transfer from tax-exempt reserves | 789 | €11,151 | €11,060 | -€91 | -0.8% |
| Profit (loss) for the period to be appropriated | 9905 | €131,815 | €119,400 | -€12,415 | -9.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.