L.A.G.H: what changed
L.A.G.H
Largest movements
- Cash -€35,163
down €35,163 (-24.6%), from €143,160 to €107,997
mainly Trade debts (-€16,918) and Debts after one year (-€9,362)
- Tangible fixed assets -€6,504
down €6,504 (-19.5%), from €33,288 to €26,785
of which Plant, machinery and equipment: -€4,399
- Stocks and contracts +€3,500
new in 2025: €3,500
- Deferred charges and accrued income +€2,099
up €2,099 (+80.3%), from €2,615 to €4,715
- Trade debts -€16,918
down €16,918 (-48.0%), from €35,233 to €18,315
- Debts after one year -€9,362
no longer reported in 2025 (was €9,362)
- Other debts -€5,788
down €5,788 (-83.1%), from €6,968 to €1,180
- Current portion of long-term debt -€2,918
down €2,918 (-23.8%), from €12,280 to €9,362
- Staff costs +€28,923
up €28,923 (+24.6%), from €117,791 to €146,714
- Gross operating margin -€14,945
down €14,945 (-8.1%), from €184,088 to €169,143
- Taxes -€12,070
down €12,070 (-72.9%), from €16,551 to €4,480
- Other operating charges +€4,516
up €4,516 (+181%), from €2,495 to €7,011
- Financial charges -€2,397
down €2,397 (-31.1%), from €7,696 to €5,299
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €200,579 | €163,806 | -€36,773 | -18.3% |
| Fixed assets | 21/28 | €35,438 | €28,935 | -€6,504 | -18.4% |
| Tangible fixed assets | 22/27 | €33,288 | €26,785 | -€6,504 | -19.5% |
| Plant, machinery and equipment | 23 | €26,562 | €22,163 | -€4,399 | -16.6% |
| Furniture and vehicles | 24 | €6,727 | €4,622 | -€2,105 | -31.3% |
| Financial fixed assets | 28 | €2,150 | €2,150 | = | 0.0% |
| Current assets | 29/58 | €165,141 | €134,872 | -€30,269 | -18.3% |
| Stocks and contracts in progress | 3 | - | €3,500 | +€3,500 | |
| Stocks | 30/36 | - | €3,500 | +€3,500 | |
| Amounts receivable within one year | 40/41 | €19,365 | €18,660 | -€705 | -3.6% |
| Trade receivables | 40 | €15,862 | €15,640 | -€222 | -1.4% |
| Other amounts receivable | 41 | €3,503 | €3,020 | -€483 | -13.8% |
| Cash at bank and in hand | 54/58 | €143,160 | €107,997 | -€35,163 | -24.6% |
| Deferred charges and accrued income | 490/1 | €2,615 | €4,715 | +€2,099 | +80.3% |
| Total equity and liabilities | 10/49 | €200,579 | €163,806 | -€36,773 | -18.3% |
| Equity | 10/15 | €113,759 | €113,015 | -€744 | -0.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €93,299 | €92,555 | -€744 | -0.8% |
| Amounts payable | 17/49 | €86,820 | €50,791 | -€36,029 | -41.5% |
| Amounts payable after more than one year | 17 | €9,362 | - | -€9,362 | |
| Financial debts | 170/4 | €9,362 | - | -€9,362 | |
| Amounts payable within one year | 42/48 | €77,457 | €50,791 | -€26,666 | -34.4% |
| Current portion of amounts payable after more than one year | 42 | €12,280 | €9,362 | -€2,918 | -23.8% |
| Trade debts | 44 | €35,233 | €18,315 | -€16,918 | -48.0% |
| Suppliers | 440/4 | €35,233 | €18,315 | -€16,918 | -48.0% |
| Taxes, remuneration and social security | 45 | €22,976 | €21,933 | -€1,043 | -4.5% |
| Taxes | 450/3 | €9,551 | €6,291 | -€3,260 | -34.1% |
| Remuneration and social security | 454/9 | €13,425 | €15,642 | +€2,217 | +16.5% |
| Other amounts payable | 47/48 | €6,968 | €1,180 | -€5,788 | -83.1% |
| Remuneration, social security and pensions | 62 | €117,791 | €146,714 | +€28,923 | +24.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,263 | €6,504 | -€760 | -10.5% |
| Other operating charges | 640/8 | €2,495 | €7,011 | +€4,516 | +181% |
| Gross operating margin | 9900 | €184,088 | €169,143 | -€14,945 | -8.1% |
| Operating profit (loss) | 9901 | €56,539 | €8,914 | -€47,625 | -84.2% |
| Financial income | 75/76B | €30 | €120 | +€90 | +297% |
| Recurring financial income | 75 | €30 | €120 | +€90 | +297% |
| Financial charges | 65/66B | €7,696 | €5,299 | -€2,397 | -31.1% |
| Recurring financial charges | 65 | €7,696 | €5,299 | -€2,397 | -31.1% |
| Profit (loss) for the period before taxes | 9903 | €48,874 | €3,736 | -€45,138 | -92.4% |
| Income taxes | 67/77 | €16,551 | €4,480 | -€12,070 | -72.9% |
| Profit (loss) for the period | 9904 | €32,323 | -€744 | -€33,068 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,323 | -€744 | -€33,068 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.