Dr. G. Lahaye: 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.
Dr. G. Lahaye
Largest movements
- Receivables within one year +€2,129
up €2,129 (+29.5%), from €7,226 to €9,355
of which Trade receivables: +€1,641
- Cash -€2,000
down €2,000 (-12.9%), from €15,490 to €13,490
mainly Investment in fixed assets (net) (-€6,958) and Receivables within one year (-€2,129)
- Tangible fixed assets +€1,752
up €1,752 (+25.0%), from €7,015 to €8,766
- Reserves +€3,420
up €3,420 (+19.1%), from €17,875 to €21,295
- Tax, wage and social debts -€1,486
down €1,486 (-100.0%), from €1,486 to €0
- Depreciation +€3,045
up €3,045 (+141%), from €2,160 to €5,206
- Taxes +€558
up €558 (+37.6%), from €1,486 to €2,044
- Gross operating margin +€436
up €436 (+4.2%), from €10,413 to €10,849
- Financial income +€246
up €246 (+283%), from €87 to €333
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 | €31,774 | €33,695 | +€1,921 | +6.0% |
| Fixed assets | 21/28 | €7,015 | €8,766 | +€1,752 | +25.0% |
| Tangible fixed assets | 22/27 | €7,015 | €8,766 | +€1,752 | +25.0% |
| Plant, machinery and equipment | 23 | €7,015 | €8,766 | +€1,752 | +25.0% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €24,759 | €24,928 | +€169 | +0.7% |
| Amounts receivable within one year | 40/41 | €7,226 | €9,355 | +€2,129 | +29.5% |
| Trade receivables | 40 | €1,249 | €2,890 | +€1,641 | +131% |
| Other amounts receivable | 41 | €5,977 | €6,466 | +€488 | +8.2% |
| Cash at bank and in hand | 54/58 | €15,490 | €13,490 | -€2,000 | -12.9% |
| Deferred charges and accrued income | 490/1 | €2,043 | €2,083 | +€40 | +2.0% |
| Total equity and liabilities | 10/49 | €31,774 | €33,695 | +€1,921 | +6.0% |
| Equity | 10/15 | €30,275 | €33,695 | +€3,420 | +11.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €17,875 | €21,295 | +€3,420 | +19.1% |
| Distributable reserves | 133 | €17,875 | €21,295 | +€3,420 | +19.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,499 | €0 | -€1,499 | -100.0% |
| Amounts payable within one year | 42/48 | €1,499 | €0 | -€1,499 | -100.0% |
| Trade debts | 44 | €13 | €0 | -€13 | -100% |
| Suppliers | 440/4 | €13 | €0 | -€13 | -100% |
| Taxes, remuneration and social security | 45 | €1,486 | €0 | -€1,486 | -100.0% |
| Taxes | 450/3 | €1,486 | €0 | -€1,486 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,160 | €5,206 | +€3,045 | +141% |
| Other operating charges | 640/8 | €351 | €358 | +€7 | +2.0% |
| Gross operating margin | 9900 | €10,413 | €10,849 | +€436 | +4.2% |
| Operating profit (loss) | 9901 | €7,901 | €5,285 | -€2,616 | -33.1% |
| Financial income | 75/76B | €87 | €333 | +€246 | +283% |
| Recurring financial income | 75 | €87 | €333 | +€246 | +283% |
| Financial charges | 65/66B | €153 | €153 | +€0 | 0.0% |
| Recurring financial charges | 65 | €153 | €153 | +€0 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €7,834 | €5,464 | -€2,370 | -30.3% |
| Income taxes | 67/77 | €1,486 | €2,044 | +€558 | +37.6% |
| Profit (loss) for the period | 9904 | €6,348 | €3,420 | -€2,928 | -46.1% |
| Profit (loss) for the period to be appropriated | 9905 | €6,348 | €3,420 | -€2,928 | -46.1% |
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 26 October 2026 via checked.be.