L.A.P.: what changed
Two fiscal 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.
L.A.P.
Largest movements
- Tangible fixed assets -€52,561
down €52,561 (-6.8%), from €776,224 to €723,663
of which Land and buildings: -€43,145
- Current investments +€17,019
up €17,019 (+272.7%), from €6,242 to €23,261
- Debts after one year -€67,130
down €67,130 (-16.1%), from €417,375 to €350,245
- Short-term financial debts +€22,534
new in 2025: €22,534
- Profit (loss) carried forward +€14,239
up €14,239 (+11.5%), from €123,655 to €137,894
- Gross operating margin -€15,806
down €15,806 (-15.3%), from €103,443 to €87,637
- Taxes -€5,556
down €5,556 (-37.1%), from €14,967 to €9,411
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.
Cash bridge derived
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 | €802,840 | €769,230 | -€33,610 | -4.2% |
| Fixed assets | 21/28 | €776,224 | €723,663 | -€52,561 | -6.8% |
| Tangible fixed assets | 22/27 | €776,224 | €723,663 | -€52,561 | -6.8% |
| Land and buildings | 22 | €751,216 | €708,071 | -€43,145 | -5.7% |
| Plant, machinery and equipment | 23 | €5,455 | €2,533 | -€2,922 | -53.6% |
| Furniture and vehicles | 24 | €19,553 | €13,059 | -€6,494 | -33.2% |
| Current assets | 29/58 | €26,616 | €45,567 | +€18,951 | +71.2% |
| Amounts receivable within one year | 40/41 | €9,952 | €10,867 | +€915 | +9.2% |
| Trade receivables | 40 | €9,952 | €10,867 | +€915 | +9.2% |
| Current investments | 50/53 | €6,242 | €23,261 | +€17,019 | +272.7% |
| Cash at bank and in hand | 54/58 | €8,292 | €8,293 | +€1 | 0.0% |
| Deferred charges and accrued income | 490/1 | €2,130 | €3,146 | +€1,016 | +47.7% |
| Total equity and liabilities | 10/49 | €802,840 | €769,230 | -€33,610 | -4.2% |
| Equity | 10/15 | €144,115 | €158,354 | +€14,239 | +9.9% |
| 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 | €123,655 | €137,894 | +€14,239 | +11.5% |
| Amounts payable | 17/49 | €658,725 | €610,876 | -€47,849 | -7.3% |
| Amounts payable after more than one year | 17 | €417,375 | €350,245 | -€67,130 | -16.1% |
| Financial debts | 170/4 | €417,375 | €350,245 | -€67,130 | -16.1% |
| Amounts payable within one year | 42/48 | €241,350 | €260,631 | +€19,281 | +8.0% |
| Current portion of amounts payable after more than one year | 42 | €81,590 | €80,639 | -€951 | -1.2% |
| Financial debts | 43 | - | €22,534 | +€22,534 | |
| Credit institutions | 430/8 | - | €22,534 | +€22,534 | |
| Trade debts | 44 | - | €1,069 | +€1,069 | |
| Suppliers | 440/4 | - | €1,069 | +€1,069 | |
| Taxes, remuneration and social security | 45 | €2,398 | - | -€2,398 | |
| Taxes | 450/3 | €2,398 | - | -€2,398 | |
| Other amounts payable | 47/48 | €157,362 | €156,389 | -€973 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,661 | €52,563 | -€98 | -0.2% |
| Gross operating margin | 9900 | €103,443 | €87,637 | -€15,806 | -15.3% |
| Operating profit (loss) | 9901 | €50,782 | €35,074 | -€15,708 | -30.9% |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €11,396 | €11,434 | +€38 | +0.3% |
| Recurring financial charges | 65 | €11,396 | €11,434 | +€38 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €39,386 | €23,650 | -€15,736 | -40.0% |
| Income taxes | 67/77 | €14,967 | €9,411 | -€5,556 | -37.1% |
| Profit (loss) for the period | 9904 | €24,419 | €14,239 | -€10,180 | -41.7% |
| Profit (loss) for the period to be appropriated | 9905 | €24,419 | €14,239 | -€10,180 | -41.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.