BUREAU LAZZARO: 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.
BUREAU LAZZARO
Largest movements
- Cash +€83,996
up €83,996 (+27.5%), from €305,231 to €389,227
mainly Depreciation (+€88,739) and Net result for the year (+€57,805)
- Tangible fixed assets -€45,782
down €45,782 (-13.3%), from €343,762 to €297,981
- Intangible fixed assets -€42,957
down €42,957 (-85.7%), from €50,117 to €7,160
- Debts after one year -€46,193
down €46,193 (-18.9%), from €244,095 to €197,902
- Profit (loss) carried forward +€45,305
up €45,305 (+17.8%), from €254,395 to €299,699
- Current portion of long-term debt -€32,976
down €32,976 (-39.8%), from €82,870 to €49,895
- Trade debts +€12,928
up €12,928 (+397%), from €3,253 to €16,180
- Tax, wage and social debts +€8,398
up €8,398 (+11.1%), from €75,935 to €84,333
of which Remuneration and social security: +€9,699
- Gross operating margin -€23,833
down €23,833 (-5.7%), from €416,739 to €392,907
- Staff costs +€5,030
up €5,030 (+2.4%), from €208,609 to €213,639
- Taxes +€5,000
up €5,000 (+50.0%), from €10,000 to €15,000
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 | €699,759 | €696,904 | -€2,854 | -0.4% |
| Fixed assets | 21/28 | €393,879 | €305,140 | -€88,739 | -22.5% |
| Intangible fixed assets | 21 | €50,117 | €7,160 | -€42,957 | -85.7% |
| Tangible fixed assets | 22/27 | €343,762 | €297,981 | -€45,782 | -13.3% |
| Land and buildings | 22 | €232,674 | €217,102 | -€15,573 | -6.7% |
| Plant, machinery and equipment | 23 | €75,243 | €59,334 | -€15,909 | -21.1% |
| Furniture and vehicles | 24 | €35,845 | €21,545 | -€14,300 | -39.9% |
| Current assets | 29/58 | €305,880 | €391,764 | +€85,884 | +28.1% |
| Cash at bank and in hand | 54/58 | €305,231 | €389,227 | +€83,996 | +27.5% |
| Deferred charges and accrued income | 490/1 | €649 | €2,537 | +€1,888 | +291% |
| Total equity and liabilities | 10/49 | €699,759 | €696,904 | -€2,854 | -0.4% |
| Equity | 10/15 | €268,573 | €320,078 | +€51,505 | +19.2% |
| Contributions | 10/11 | €12,400 | €18,600 | +€6,200 | +50.0% |
| Reserves | 13 | €1,779 | €1,779 | = | 0.0% |
| Distributable reserves | 133 | €1,779 | €1,779 | = | 0.0% |
| Profit (loss) carried forward | 14 | €254,395 | €299,699 | +€45,305 | +17.8% |
| Amounts payable | 17/49 | €431,185 | €376,826 | -€54,359 | -12.6% |
| Amounts payable after more than one year | 17 | €244,095 | €197,902 | -€46,193 | -18.9% |
| Financial debts | 170/4 | €244,095 | €197,902 | -€46,193 | -18.9% |
| Amounts payable within one year | 42/48 | €187,091 | €178,925 | -€8,166 | -4.4% |
| Current portion of amounts payable after more than one year | 42 | €82,870 | €49,895 | -€32,976 | -39.8% |
| Trade debts | 44 | €3,253 | €16,180 | +€12,928 | +397% |
| Suppliers | 440/4 | €3,253 | €16,180 | +€12,928 | +397% |
| Taxes, remuneration and social security | 45 | €75,935 | €84,333 | +€8,398 | +11.1% |
| Taxes | 450/3 | €5,303 | €4,002 | -€1,301 | -24.5% |
| Remuneration and social security | 454/9 | €70,633 | €80,332 | +€9,699 | +13.7% |
| Other amounts payable | 47/48 | €25,032 | €28,516 | +€3,484 | +13.9% |
| Remuneration, social security and pensions | 62 | €208,609 | €213,639 | +€5,030 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,190 | €88,739 | -€451 | -0.5% |
| Other operating charges | 640/8 | €8,507 | €9,001 | +€494 | +5.8% |
| Non-recurring operating charges | 66A | - | €425 | +€425 | |
| Gross operating margin | 9900 | €416,739 | €392,907 | -€23,833 | -5.7% |
| Operating profit (loss) | 9901 | €110,433 | €81,102 | -€29,331 | -26.6% |
| Financial income | 75/76B | €0 | €1 | +€1 | +3,350% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +3,350% |
| Financial charges | 65/66B | €9,651 | €8,299 | -€1,352 | -14.0% |
| Recurring financial charges | 65 | €9,651 | €8,299 | -€1,352 | -14.0% |
| Profit (loss) for the period before taxes | 9903 | €100,782 | €72,805 | -€27,978 | -27.8% |
| Income taxes | 67/77 | €10,000 | €15,000 | +€5,000 | +50.0% |
| Profit (loss) for the period | 9904 | €90,782 | €57,805 | -€32,978 | -36.3% |
| Profit (loss) for the period to be appropriated | 9905 | €90,782 | €57,805 | -€32,978 | -36.3% |
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 29 October 2026 via checked.be.