LA RESERVE: 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.
LA RESERVE
Largest movements
- Tangible fixed assets -€8,774
down €8,774 (-2.2%), from €398,156 to €389,383
of which Land and buildings: -€12,734
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€6,513
up €6,513 (+30.6%), from €21,298 to €27,810
- Financial charges +€5,551
up €5,551 (+129.1%), from €4,299 to €9,851
- Taxes -€5,422
down €5,422 (-95.7%), from €5,664 to €242
- Depreciation +€1,055
up €1,055 (+5.1%), from €20,562 to €21,617
- Other operating charges +€936
up €936 (+28.7%), from €3,261 to €4,197
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €654,125 | €646,519 | -€7,605 | -1.2% |
| Fixed assets | 21/28 | €398,156 | €389,383 | -€8,774 | -2.2% |
| Tangible fixed assets | 22/27 | €398,156 | €389,383 | -€8,774 | -2.2% |
| Land and buildings | 22 | €332,994 | €320,259 | -€12,734 | -3.8% |
| Plant, machinery and equipment | 23 | €34,905 | €40,063 | +€5,158 | +14.8% |
| Furniture and vehicles | 24 | €12,357 | €10,333 | -€2,025 | -16.4% |
| Other tangible fixed assets | 26 | €17,900 | €18,727 | +€827 | +4.6% |
| Current assets | 29/58 | €255,968 | €257,136 | +€1,168 | +0.5% |
| Amounts receivable within one year | 40/41 | €253,267 | €255,312 | +€2,045 | +0.8% |
| Other amounts receivable | 41 | €253,267 | €255,312 | +€2,045 | +0.8% |
| Cash at bank and in hand | 54/58 | €2,138 | €1,243 | -€895 | -41.9% |
| Deferred charges and accrued income | 490/1 | €564 | €581 | +€18 | +3.2% |
| Total equity and liabilities | 10/49 | €654,125 | €646,519 | -€7,605 | -1.2% |
| Equity | 10/15 | €628,614 | €620,992 | -€7,622 | -1.2% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €68,753 | €66,691 | -€2,062 | -3.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €35,744 | €33,682 | -€2,062 | -5.8% |
| Distributable reserves | 133 | €26,809 | €26,809 | = | 0.0% |
| Profit (loss) carried forward | 14 | €497,888 | €492,328 | -€5,560 | -1.1% |
| Amounts payable | 17/49 | €25,510 | €25,527 | +€17 | +0.1% |
| Amounts payable after more than one year | 17 | €15,878 | €14,909 | -€969 | -6.1% |
| Financial debts | 170/4 | €15,878 | €14,909 | -€969 | -6.1% |
| Amounts payable within one year | 42/48 | €9,632 | €10,618 | +€985 | +10.2% |
| Current portion of amounts payable after more than one year | 42 | €4,561 | €4,791 | +€230 | +5.0% |
| Trade debts | 44 | €5,071 | €5,827 | +€755 | +14.9% |
| Suppliers | 440/4 | €5,071 | €5,827 | +€755 | +14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,562 | €21,617 | +€1,055 | +5.1% |
| Other operating charges | 640/8 | €3,261 | €4,197 | +€936 | +28.7% |
| Gross operating margin | 9900 | €21,298 | €27,810 | +€6,513 | +30.6% |
| Operating profit (loss) | 9901 | -€2,525 | €1,997 | +€4,522 | |
| Financial income | 75/76B | €85 | €474 | +€389 | +456.6% |
| Recurring financial income | 75 | €85 | €474 | +€389 | +456.6% |
| Financial charges | 65/66B | €4,299 | €9,851 | +€5,551 | +129.1% |
| Recurring financial charges | 65 | €4,299 | €9,851 | +€5,551 | +129.1% |
| Profit (loss) for the period before taxes | 9903 | -€6,739 | -€7,380 | -€641 | -9.5% |
| Income taxes | 67/77 | €5,664 | €242 | -€5,422 | -95.7% |
| Profit (loss) for the period | 9904 | -€12,403 | -€7,622 | +€4,781 | +38.5% |
| Transfer from tax-exempt reserves | 789 | €2,062 | €2,062 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,341 | -€5,560 | +€4,781 | +46.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.