Bram Lagae: 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.
Bram Lagae
Largest movements
- Cash -€15,861
down €15,861 (-32.8%), from €48,429 to €32,568
mainly Net result for the year (-€17,184) and Receivables within one year (-€14,668)
- Receivables within one year +€14,668
up €14,668 (+108%), from €13,614 to €28,282
- Financial fixed assets +€2,100
new in 2025: €2,100
- Tangible fixed assets -€1,560
down €1,560 (-3.4%), from €45,266 to €43,705
of which Furniture and vehicles: -€7,519
- Reserves -€18,043
down €18,043 (-35.4%), from €50,928 to €32,885
- Other debts +€11,709
up €11,709 (+297%), from €3,949 to €15,658
- Tax, wage and social debts +€4,068
up €4,068 (+18.2%), from €22,387 to €26,455
of which Remuneration and social security: +€5,933
- Staff costs +€69,340
up €69,340 (+2,858%), from €2,426 to €71,767
- Taxes -€14,152
down €14,152 (-99.0%), from €14,296 to €144
- Gross operating margin -€9,085
down €9,085 (-11.2%), from €80,914 to €71,829
- Depreciation +€2,301
up €2,301 (+18.2%), from €12,637 to €14,938
- Financial charges +€1,607
up €1,607 (+811%), from €198 to €1,805
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 | €118,353 | €115,830 | -€2,523 | -2.1% |
| Fixed assets | 21/28 | €48,902 | €48,532 | -€370 | -0.8% |
| Intangible fixed assets | 21 | €3,636 | €2,726 | -€910 | -25.0% |
| Tangible fixed assets | 22/27 | €45,266 | €43,705 | -€1,560 | -3.4% |
| Furniture and vehicles | 24 | €43,101 | €35,582 | -€7,519 | -17.4% |
| Other tangible fixed assets | 26 | €2,165 | €8,123 | +€5,958 | +275% |
| Financial fixed assets | 28 | - | €2,100 | +€2,100 | |
| Current assets | 29/58 | €69,452 | €67,298 | -€2,153 | -3.1% |
| Amounts receivable within one year | 40/41 | €13,614 | €28,282 | +€14,668 | +108% |
| Trade receivables | 40 | €13,614 | €28,282 | +€14,668 | +108% |
| Cash at bank and in hand | 54/58 | €48,429 | €32,568 | -€15,861 | -32.8% |
| Deferred charges and accrued income | 490/1 | €7,408 | €6,448 | -€960 | -13.0% |
| Total equity and liabilities | 10/49 | €118,353 | €115,830 | -€2,523 | -2.1% |
| Equity | 10/15 | €51,928 | €33,885 | -€18,043 | -34.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €50,928 | €32,885 | -€18,043 | -35.4% |
| Distributable reserves | 133 | €50,928 | €32,885 | -€18,043 | -35.4% |
| Amounts payable | 17/49 | €66,425 | €81,945 | +€15,520 | +23.4% |
| Amounts payable after more than one year | 17 | €28,000 | €28,000 | = | 0.0% |
| Financial debts | 170/4 | €28,000 | €28,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €38,425 | €53,945 | +€15,520 | +40.4% |
| Trade debts | 44 | €12,089 | €11,832 | -€257 | -2.1% |
| Suppliers | 440/4 | €12,089 | €11,832 | -€257 | -2.1% |
| Taxes, remuneration and social security | 45 | €22,387 | €26,455 | +€4,068 | +18.2% |
| Taxes | 450/3 | €22,070 | €20,205 | -€1,865 | -8.5% |
| Remuneration and social security | 454/9 | €317 | €6,250 | +€5,933 | +1,870% |
| Other amounts payable | 47/48 | €3,949 | €15,658 | +€11,709 | +297% |
| Remuneration, social security and pensions | 62 | €2,426 | €71,767 | +€69,340 | +2,858% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,637 | €14,938 | +€2,301 | +18.2% |
| Other operating charges | 640/8 | €478 | €716 | +€238 | +49.9% |
| Gross operating margin | 9900 | €80,914 | €71,829 | -€9,085 | -11.2% |
| Operating profit (loss) | 9901 | €65,373 | -€15,592 | -€80,965 | |
| Financial income | 75/76B | €49 | €357 | +€308 | +625% |
| Recurring financial income | 75 | €49 | €357 | +€308 | +625% |
| Financial charges | 65/66B | €198 | €1,805 | +€1,607 | +811% |
| Recurring financial charges | 65 | €198 | €1,805 | +€1,607 | +811% |
| Profit (loss) for the period before taxes | 9903 | €65,224 | -€17,040 | -€82,264 | |
| Income taxes | 67/77 | €14,296 | €144 | -€14,152 | -99.0% |
| Profit (loss) for the period | 9904 | €50,928 | -€17,184 | -€68,112 | |
| Profit (loss) for the period to be appropriated | 9905 | €50,928 | -€17,184 | -€68,112 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.