LACE: 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.
LACE
Largest movements
- Cash +€42,379
up €42,379 (+43.7%), from €96,871 to €139,250
mainly Net result for the year (+€83,357) and Receivables within one year (+€11,444)
- Tangible fixed assets +€14,373
new in 2025: €14,373
- Deferred charges and accrued income +€13,733
up €13,733 (+8149.8%), from €169 to €13,902
- Receivables within one year -€11,444
down €11,444 (-92.0%), from €12,443 to €998
of which Trade receivables: -€12,443
- Reserves +€83,357
up €83,357 (+116.6%), from €71,477 to €154,833
- Tax, wage and social debts -€15,173
down €15,173 (-69.6%), from €21,798 to €6,625
of which Taxes: -€15,173
- Other debts -€7,309
down €7,309 (-95.2%), from €7,678 to €368
- Trade debts -€3,483
down €3,483 (-76.9%), from €4,530 to €1,046
- Gross operating margin +€17,785
up €17,785 (+19.5%), from €91,241 to €109,025
- Taxes +€4,827
up €4,827 (+25.0%), from €19,285 to €24,112
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 | €109,482 | €168,523 | +€59,041 | +53.9% |
| Fixed assets | 21/28 | - | €14,373 | +€14,373 | |
| Tangible fixed assets | 22/27 | - | €14,373 | +€14,373 | |
| Furniture and vehicles | 24 | - | €14,373 | +€14,373 | |
| Current assets | 29/58 | €109,482 | €154,150 | +€44,668 | +40.8% |
| Amounts receivable within one year | 40/41 | €12,443 | €998 | -€11,444 | -92.0% |
| Trade receivables | 40 | €12,443 | - | -€12,443 | |
| Other amounts receivable | 41 | - | €998 | +€998 | |
| Cash at bank and in hand | 54/58 | €96,871 | €139,250 | +€42,379 | +43.7% |
| Deferred charges and accrued income | 490/1 | €169 | €13,902 | +€13,733 | +8149.8% |
| Total equity and liabilities | 10/49 | €109,482 | €168,523 | +€59,041 | +53.9% |
| Equity | 10/15 | €75,477 | €158,833 | +€83,357 | +110.4% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €71,477 | €154,833 | +€83,357 | +116.6% |
| Distributable reserves | 133 | €71,477 | €154,833 | +€83,357 | +116.6% |
| Amounts payable | 17/49 | €34,005 | €9,690 | -€24,315 | -71.5% |
| Amounts payable within one year | 42/48 | €34,005 | €8,040 | -€25,965 | -76.4% |
| Trade debts | 44 | €4,530 | €1,046 | -€3,483 | -76.9% |
| Suppliers | 440/4 | €4,530 | €1,046 | -€3,483 | -76.9% |
| Taxes, remuneration and social security | 45 | €21,798 | €6,625 | -€15,173 | -69.6% |
| Taxes | 450/3 | €19,285 | €4,112 | -€15,173 | -78.7% |
| Remuneration and social security | 454/9 | €2,513 | €2,513 | = | 0.0% |
| Other amounts payable | 47/48 | €7,678 | €368 | -€7,309 | -95.2% |
| Accrued charges and deferred income | 492/3 | - | €1,650 | +€1,650 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €147 | +€147 | |
| Other operating charges | 640/8 | €449 | €1,334 | +€885 | +197.0% |
| Gross operating margin | 9900 | €91,241 | €109,025 | +€17,785 | +19.5% |
| Operating profit (loss) | 9901 | €90,791 | €107,543 | +€16,752 | +18.5% |
| Financial charges | 65/66B | €30 | €75 | +€45 | +150.1% |
| Recurring financial charges | 65 | €30 | €75 | +€45 | +150.1% |
| Profit (loss) for the period before taxes | 9903 | €90,761 | €107,468 | +€16,707 | +18.4% |
| Income taxes | 67/77 | €19,285 | €24,112 | +€4,827 | +25.0% |
| Profit (loss) for the period | 9904 | €71,477 | €83,357 | +€11,880 | +16.6% |
| Profit (loss) for the period to be appropriated | 9905 | €71,477 | €83,357 | +€11,880 | +16.6% |
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 8 October 2026 via checked.be.