Julien Laloux: 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.
Julien Laloux
Largest movements
- Tangible fixed assets -€9,908
down €9,908 (-25.1%), from €39,431 to €29,523
of which Furniture and vehicles: -€7,661
- Receivables within one year -€7,421
down €7,421 (-65.2%), from €11,385 to €3,965
of which Trade receivables: -€5,980
- Trade debts -€66,719
down €66,719 (-98.5%), from €67,703 to €983
- Other debts +€36,982
up €36,982 (+20.3%), from €182,342 to €219,325
- Profit (loss) carried forward +€17,054
up €17,054 (+7.3%), from -€232,237 to -€215,183
- Current portion of long-term debt -€7,501
no longer reported in 2025 (was €7,501)
- Short-term financial debts +€1,492
up €1,492 (+46.8%), from €3,187 to €4,679
- Gross operating margin +€133,514
up €133,514, from -€105,046 to €28,467
- Other operating charges -€2,632
down €2,632 (-88.6%), from €2,971 to €339
- Depreciation +€2,400
up €2,400 (+32.0%), from €7,508 to €9,908
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 | €51,138 | €33,774 | -€17,364 | -34.0% |
| Fixed assets | 21/28 | €39,431 | €29,523 | -€9,908 | -25.1% |
| Tangible fixed assets | 22/27 | €39,431 | €29,523 | -€9,908 | -25.1% |
| Land and buildings | 22 | €4,000 | €4,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €4,011 | €1,764 | -€2,247 | -56.0% |
| Furniture and vehicles | 24 | €31,420 | €23,759 | -€7,661 | -24.4% |
| Current assets | 29/58 | €11,707 | €4,251 | -€7,456 | -63.7% |
| Amounts receivable within one year | 40/41 | €11,385 | €3,965 | -€7,421 | -65.2% |
| Trade receivables | 40 | €5,980 | - | -€5,980 | |
| Other amounts receivable | 41 | €5,405 | €3,965 | -€1,440 | -26.6% |
| Cash at bank and in hand | 54/58 | €141 | €246 | +€105 | +74.3% |
| Deferred charges and accrued income | 490/1 | €180 | €40 | -€141 | -78.1% |
| Total equity and liabilities | 10/49 | €51,138 | €33,774 | -€17,364 | -34.0% |
| Equity | 10/15 | -€212,237 | -€195,183 | +€17,054 | +8.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€232,237 | -€215,183 | +€17,054 | +7.3% |
| Amounts payable | 17/49 | €263,375 | €228,957 | -€34,418 | -13.1% |
| Amounts payable within one year | 42/48 | €263,375 | €228,957 | -€34,418 | -13.1% |
| Current portion of amounts payable after more than one year | 42 | €7,501 | - | -€7,501 | |
| Financial debts | 43 | €3,187 | €4,679 | +€1,492 | +46.8% |
| Credit institutions | 430/8 | €3,187 | €4,679 | +€1,492 | +46.8% |
| Trade debts | 44 | €67,703 | €983 | -€66,719 | -98.5% |
| Suppliers | 440/4 | €67,703 | €983 | -€66,719 | -98.5% |
| Advances received on contracts in progress | 46 | €2,467 | €2,467 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €174 | €1,503 | +€1,329 | +762% |
| Taxes | 450/3 | €174 | €1,503 | +€1,329 | +762% |
| Other amounts payable | 47/48 | €182,342 | €219,325 | +€36,982 | +20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,508 | €9,908 | +€2,400 | +32.0% |
| Other operating charges | 640/8 | €2,971 | €339 | -€2,632 | -88.6% |
| Gross operating margin | 9900 | -€105,046 | €28,467 | +€133,514 | |
| Operating profit (loss) | 9901 | -€115,525 | €18,221 | +€133,746 | |
| Financial income | 75/76B | €228 | €9 | -€219 | -96.2% |
| Recurring financial income | 75 | €228 | €9 | -€219 | -96.2% |
| Financial charges | 65/66B | €1,156 | €990 | -€166 | -14.3% |
| Recurring financial charges | 65 | €1,156 | €990 | -€166 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | -€116,453 | €17,239 | +€133,693 | |
| Income taxes | 67/77 | €174 | €176 | +€2 | +1.0% |
| Profit (loss) for the period | 9904 | -€116,628 | €17,063 | +€133,691 | |
| Profit (loss) for the period to be appropriated | 9905 | -€116,628 | €17,063 | +€133,691 |
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.