LAAD: 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.
LAAD
Largest movements
- Tangible fixed assets -€3,711
down €3,711 (-18.0%), from €20,624 to €16,913
- Debts after one year -€35,678
down €35,678 (-71.4%), from €49,990 to €14,312
- Profit (loss) carried forward +€27,775
up €27,775 (+17.1%), from €162,075 to €189,850
- Other debts +€4,000
up €4,000 (+28.2%), from €14,187 to €18,187
- Trade debts -€3,086
down €3,086 (-71.1%), from €4,342 to €1,256
- Financial income -€85,171
down €85,171 (-83.9%), from €101,522 to €16,351
- Gross operating margin +€7,994
up €7,994 (+49.2%), from €16,262 to €24,257
- Depreciation +€3,398
up €3,398 (+268%), from €1,269 to €4,667
- Taxes +€1,230
up €1,230 (+32.4%), from €3,796 to €5,027
- Financial charges -€497
down €497 (-16.1%), from €3,088 to €2,591
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 | €286,860 | €283,079 | -€3,781 | -1.3% |
| Fixed assets | 21/28 | €245,624 | €241,913 | -€3,711 | -1.5% |
| Tangible fixed assets | 22/27 | €20,624 | €16,913 | -€3,711 | -18.0% |
| Furniture and vehicles | 24 | €20,624 | €16,913 | -€3,711 | -18.0% |
| Financial fixed assets | 28 | €225,000 | €225,000 | = | 0.0% |
| Current assets | 29/58 | €41,236 | €41,166 | -€70 | -0.2% |
| Amounts receivable within one year | 40/41 | €34,772 | €33,025 | -€1,747 | -5.0% |
| Trade receivables | 40 | €10,480 | €8,000 | -€2,480 | -23.7% |
| Other amounts receivable | 41 | €24,292 | €25,025 | +€732 | +3.0% |
| Cash at bank and in hand | 54/58 | €4,328 | €3,835 | -€493 | -11.4% |
| Deferred charges and accrued income | 490/1 | €2,136 | €4,307 | +€2,171 | +102% |
| Total equity and liabilities | 10/49 | €286,860 | €283,079 | -€3,781 | -1.3% |
| Equity | 10/15 | €174,475 | €202,250 | +€27,775 | +15.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €162,075 | €189,850 | +€27,775 | +17.1% |
| Amounts payable | 17/49 | €112,385 | €80,829 | -€31,556 | -28.1% |
| Amounts payable after more than one year | 17 | €49,990 | €14,312 | -€35,678 | -71.4% |
| Financial debts | 170/4 | €49,990 | €14,312 | -€35,678 | -71.4% |
| Amounts payable within one year | 42/48 | €62,395 | €66,517 | +€4,122 | +6.6% |
| Current portion of amounts payable after more than one year | 42 | €34,622 | €35,678 | +€1,056 | +3.1% |
| Trade debts | 44 | €4,342 | €1,256 | -€3,086 | -71.1% |
| Suppliers | 440/4 | €4,342 | €1,256 | -€3,086 | -71.1% |
| Taxes, remuneration and social security | 45 | €9,245 | €11,397 | +€2,152 | +23.3% |
| Taxes | 450/3 | €7,745 | €9,197 | +€1,452 | +18.7% |
| Remuneration and social security | 454/9 | €1,500 | €2,200 | +€700 | +46.7% |
| Other amounts payable | 47/48 | €14,187 | €18,187 | +€4,000 | +28.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,269 | €4,667 | +€3,398 | +268% |
| Other operating charges | 640/8 | €630 | €548 | -€81 | -12.9% |
| Gross operating margin | 9900 | €16,262 | €24,257 | +€7,994 | +49.2% |
| Operating profit (loss) | 9901 | €14,364 | €19,041 | +€4,678 | +32.6% |
| Financial income | 75/76B | €101,522 | €16,351 | -€85,171 | -83.9% |
| Recurring financial income | 75 | €101,522 | €16,351 | -€85,171 | -83.9% |
| Financial charges | 65/66B | €3,088 | €2,591 | -€497 | -16.1% |
| Recurring financial charges | 65 | €3,088 | €2,591 | -€497 | -16.1% |
| Profit (loss) for the period before taxes | 9903 | €112,798 | €32,802 | -€79,996 | -70.9% |
| Income taxes | 67/77 | €3,796 | €5,027 | +€1,230 | +32.4% |
| Profit (loss) for the period | 9904 | €109,002 | €27,775 | -€81,227 | -74.5% |
| Profit (loss) for the period to be appropriated | 9905 | €109,002 | €27,775 | -€81,227 | -74.5% |
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 14 October 2026 via checked.be.