BENOIT LAGHI: 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.
BENOIT LAGHI
Largest movements
- Tangible fixed assets -€16,654
down €16,654 (-35.5%), from €46,868 to €30,213
of which Furniture and vehicles: -€17,359
- Cash +€9,232
up €9,232 (+13.0%), from €70,747 to €79,979
mainly Depreciation (+€19,612) and Net result for the year (+€16,179)
- Reserves +€15,000
up €15,000 (+2295.1%), from €654 to €15,654
- Debts after one year -€8,544
down €8,544 (-51.4%), from €16,613 to €8,068
- Current portion of long-term debt -€4,928
down €4,928 (-36.6%), from €13,472 to €8,544
- Profit (loss) carried forward -€3,996
down €3,996 (-6.4%), from €62,560 to €58,564
- Other debts -€2,409
down €2,409 (-27.4%), from €8,778 to €6,370
- Gross operating margin -€12,358
down €12,358 (-21.9%), from €56,463 to €44,105
- Taxes -€978
down €978 (-13.1%), from €7,451 to €6,473
- Depreciation +€892
up €892 (+4.8%), from €18,720 to €19,612
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 | €118,226 | €111,033 | -€7,193 | -6.1% |
| Fixed assets | 21/28 | €46,942 | €30,288 | -€16,654 | -35.5% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €46,868 | €30,213 | -€16,654 | -35.5% |
| Plant, machinery and equipment | 23 | - | €704 | +€704 | |
| Furniture and vehicles | 24 | €46,868 | €29,509 | -€17,359 | -37.0% |
| Financial fixed assets | 28 | €74 | €74 | = | 0.0% |
| Current assets | 29/58 | €71,284 | €80,745 | +€9,461 | +13.3% |
| Amounts receivable within one year | 40/41 | - | €481 | +€481 | |
| Other amounts receivable | 41 | - | €481 | +€481 | |
| Cash at bank and in hand | 54/58 | €70,747 | €79,979 | +€9,232 | +13.0% |
| Deferred charges and accrued income | 490/1 | €537 | €285 | -€251 | -46.8% |
| Total equity and liabilities | 10/49 | €118,226 | €111,033 | -€7,193 | -6.1% |
| Equity | 10/15 | €75,613 | €86,618 | +€11,004 | +14.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €654 | €15,654 | +€15,000 | +2295.1% |
| Distributable reserves | 133 | €654 | €15,654 | +€15,000 | +2295.1% |
| Profit (loss) carried forward | 14 | €62,560 | €58,564 | -€3,996 | -6.4% |
| Amounts payable | 17/49 | €42,613 | €24,415 | -€18,197 | -42.7% |
| Amounts payable after more than one year | 17 | €16,613 | €8,068 | -€8,544 | -51.4% |
| Financial debts | 170/4 | €16,613 | €8,068 | -€8,544 | -51.4% |
| Amounts payable within one year | 42/48 | €26,000 | €16,347 | -€9,653 | -37.1% |
| Current portion of amounts payable after more than one year | 42 | €13,472 | €8,544 | -€4,928 | -36.6% |
| Trade debts | 44 | €1,302 | €1,027 | -€275 | -21.1% |
| Suppliers | 440/4 | €1,302 | €1,027 | -€275 | -21.1% |
| Taxes, remuneration and social security | 45 | €2,447 | €406 | -€2,041 | -83.4% |
| Taxes | 450/3 | €484 | €406 | -€78 | -16.2% |
| Remuneration and social security | 454/9 | €1,963 | €0 | -€1,963 | -100.0% |
| Other amounts payable | 47/48 | €8,778 | €6,370 | -€2,409 | -27.4% |
| Non-recurring operating income | 76A | €9,500 | €0 | -€9,500 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,720 | €19,612 | +€892 | +4.8% |
| Other operating charges | 640/8 | €1,027 | €1,024 | -€3 | -0.3% |
| Gross operating margin | 9900 | €56,463 | €44,105 | -€12,358 | -21.9% |
| Operating profit (loss) | 9901 | €36,715 | €23,469 | -€13,246 | -36.1% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €887 | €817 | -€69 | -7.8% |
| Recurring financial charges | 65 | €887 | €817 | -€69 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €35,829 | €22,652 | -€13,177 | -36.8% |
| Income taxes | 67/77 | €7,451 | €6,473 | -€978 | -13.1% |
| Profit (loss) for the period | 9904 | €28,378 | €16,179 | -€12,199 | -43.0% |
| Profit (loss) for the period to be appropriated | 9905 | €28,378 | €16,179 | -€12,199 | -43.0% |
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 10 October 2026 via checked.be.