LABBE: 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.
What changed
LABBE
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€5.2m
2024 · €541,366+€4.7m
Equity
€10.8m
2024 · €5.7m+€5.1m
Cash
€391,758
2024 · €357,558+€34,200
Balance sheet total
€12.4m
2024 · €7.5m+€5.0m
Largest movements
Assets
- Financial fixed assets +€3.9m
up €3.9m (+690%), from €572,240 to €4.5m
- Tangible fixed assets +€1.1m
up €1.1m (+49.6%), from €2.3m to €3.4m
of which Land and buildings: +€1.1m
- Intangible fixed assets -€186,177
no longer reported in 2025 (was €186,177)
- Current investments +€159,647
up €159,647 (+4.3%), from €3.7m to €3.8m
- Receivables within one year -€127,671
down €127,671 (-33.3%), from €383,856 to €256,185
of which Trade receivables: -€80,263
Equity and liabilities
- Reserves +€5.1m
up €5.1m (+330%), from €1.5m to €6.6m
of which Tax-exempt reserves: +€5.1m
- Trade debts -€176,878
down €176,878 (-58.6%), from €301,801 to €124,923
Income statement
- Gross operating margin +€3.9m
up €3.9m (+315%), from €1.2m to €5.1m
- Staff costs -€373,221
down €373,221, from €328,455 to -€44,766
- Purchases and services +€228,769
new in 2025: €228,769
- Financial income +€213,382
up €213,382 (+262%), from €81,292 to €294,674
- Financial charges -€63,452
down €63,452 (-88.4%), from €71,804 to €8,352
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.
Result 2024
€541,366
Gross operating margin
+€3.9m
Staff costs
+€373,221
Depreciation
+€51,722
Write-downs
+€22,500
Other operating charges
-€33,797
Other operating items
+€15,028
Financial income
+€213,382
Financial charges
+€63,452
Taxes
+€60,268
Result 2025
€5.2m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€5.4m
Investment
-€5.2m
Financing
-€105,713
Cash 2024
€357,558
From operations (derived)
+€5.4m
Net result for the year
+€5.2m
Depreciation
+€184,668
Receivables within one year
+€127,671
Trade debts
-€176,878
Smaller working-capital items
+€3,434
Other debts
+€40,284
Investment (derived)
-€5.2m
Investment in fixed assets (net)
-€5.1m
Current investments
-€159,647
Financing
-€105,713
Debts after one year
+€0
Contributions, distributions and other
-€105,713
Cash 2025
€391,758
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,467,668 | €12,433,148 | +€5.0m | +66.5% |
| Fixed assets | 21/28 | €3,048,849 | €7,948,153 | +€4.9m | +161% |
| Intangible fixed assets | 21 | €186,177 | - | -€186,177 | |
| Tangible fixed assets | 22/27 | €2,290,432 | €3,425,913 | +€1.1m | +49.6% |
| Land and buildings | 22 | €2,281,141 | €3,410,700 | +€1.1m | +49.5% |
| Plant, machinery and equipment | 23 | €3,437 | €12,646 | +€9,209 | +268% |
| Furniture and vehicles | 24 | €5,854 | €2,567 | -€3,287 | -56.2% |
| Financial fixed assets | 28 | €572,240 | €4,522,240 | +€3.9m | +690% |
| Current assets | 29/58 | €4,418,819 | €4,484,995 | +€66,176 | +1.5% |
| Amounts receivable within one year | 40/41 | €383,856 | €256,185 | -€127,671 | -33.3% |
| Trade receivables | 40 | €308,262 | €228,000 | -€80,263 | -26.0% |
| Other amounts receivable | 41 | €75,594 | €28,185 | -€47,409 | -62.7% |
| Current investments | 50/53 | €3,677,405 | €3,837,052 | +€159,647 | +4.3% |
| Cash at bank and in hand | 54/58 | €357,558 | €391,758 | +€34,200 | +9.6% |
| Total equity and liabilities | 10/49 | €7,467,668 | €12,433,148 | +€5.0m | +66.5% |
| Equity | 10/15 | €5,669,594 | €10,768,233 | +€5.1m | +89.9% |
| Contributions | 10/11 | €1,007,834 | €1,007,834 | -€0 | 0.0% |
| Capital | 10 | €975,000 | €975,000 | = | 0.0% |
| Issued capital | 100 | €975,000 | €975,000 | = | 0.0% |
| Contributions outside capital | 11 | €32,834 | €32,834 | -€0 | 0.0% |
| Share premium | 1100/10 | €32,834 | €32,834 | -€0 | 0.0% |
| Reserves | 13 | €1,545,642 | €6,639,929 | +€5.1m | +330% |
| Non-distributable reserves | 130/1 | €1,137,500 | €267,500 | -€870,000 | -76.5% |
| Legal reserve | 130 | €97,500 | €97,500 | = | 0.0% |
| Other | 1319 | €1,040,000 | €170,000 | -€870,000 | -83.7% |
| Tax-exempt reserves | 132 | €191,944 | €5,286,232 | +€5.1m | +2,654% |
| Distributable reserves | 133 | €216,198 | €1,086,197 | +€869,999 | +402% |
| Profit (loss) carried forward | 14 | €3,116,118 | €3,120,470 | +€4,352 | +0.1% |
| Provisions and deferred taxes | 16 | €169,850 | €169,850 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €169,850 | €169,850 | = | 0.0% |
| Pensions and similar obligations | 160 | €18,750 | - | -€18,750 | |
| Environmental obligations | 163 | - | €151,100 | +€151,100 | |
| Other liabilities and charges | 164/5 | €151,100 | €18,750 | -€132,350 | -87.6% |
| Amounts payable | 17/49 | €1,628,224 | €1,495,065 | -€133,159 | -8.2% |
| Amounts payable after more than one year | 17 | €794,875 | €794,875 | +€0 | 0.0% |
| Financial debts | 170/4 | €794,875 | €794,875 | +€0 | 0.0% |
| Amounts payable within one year | 42/48 | €833,049 | €695,090 | -€137,959 | -16.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €301,801 | €124,923 | -€176,878 | -58.6% |
| Suppliers | 440/4 | €301,801 | €124,923 | -€176,878 | -58.6% |
| Advances received on contracts in progress | 46 | €1,900 | €4,500 | +€2,600 | +137% |
| Taxes, remuneration and social security | 45 | €119,892 | €115,926 | -€3,966 | -3.3% |
| Taxes | 450/3 | €40,563 | €115,701 | +€75,138 | +185% |
| Remuneration and social security | 454/9 | €79,329 | €225 | -€79,104 | -99.7% |
| Other amounts payable | 47/48 | €409,456 | €449,740 | +€40,284 | +9.8% |
| Accrued charges and deferred income | 492/3 | €300 | €5,100 | +€4,800 | +1,600% |
| Non-recurring operating income | 76A | - | €4,900,000 | +€4.9m | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €228,769 | +€228,769 | |
| Remuneration, social security and pensions | 62 | €328,455 | -€44,766 | -€373,221 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €236,390 | €184,668 | -€51,722 | -21.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €30,000 | €7,500 | -€22,500 | -75.0% |
| Other operating charges | 640/8 | €29,062 | €62,859 | +€33,797 | +116% |
| Non-recurring operating charges | 66A | €16,759 | €1,731 | -€15,028 | -89.7% |
| Gross operating margin | 9900 | €1,236,395 | €5,133,605 | +€3.9m | +315% |
| Operating profit (loss) | 9901 | €595,729 | €4,921,613 | +€4.3m | +726% |
| Financial income | 75/76B | €81,292 | €294,674 | +€213,382 | +262% |
| Recurring financial income | 75 | €81,292 | €294,674 | +€213,382 | +262% |
| Financial charges | 65/66B | €71,804 | €8,352 | -€63,452 | -88.4% |
| Recurring financial charges | 65 | €71,804 | €8,352 | -€63,452 | -88.4% |
| Profit (loss) for the period before taxes | 9903 | €605,217 | €5,207,934 | +€4.6m | +761% |
| Income taxes | 67/77 | €63,851 | €3,583 | -€60,268 | -94.4% |
| Profit (loss) for the period | 9904 | €541,366 | €5,204,352 | +€4.7m | +861% |
| Transfer to tax-exempt reserves | 689 | - | €5,200,000 | +€5.2m | |
| Profit (loss) for the period to be appropriated | 9905 | €541,366 | €4,352 | -€537,014 | -99.2% |
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 17 October 2026 via checked.be.