LACERTUM: 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.
LACERTUM
Largest movements
- Tangible fixed assets +€206,784
up €206,784 (+20.0%), from €1.0m to €1.2m
of which Land and buildings: +€197,693
- Cash -€69,563
down €69,563 (-63.1%), from €110,217 to €40,654
mainly Investment in fixed assets (net) (-€282,558) and Current investments (-€43,550)
- Receivables within one year -€46,229
down €46,229 (-43.7%), from €105,679 to €59,450
of which Trade receivables: -€26,613
- Current investments +€43,550
up €43,550 (+79.7%), from €54,657 to €98,207
- Debts after one year +€47,700
up €47,700 (+13.7%), from €347,916 to €395,616
of which Financial debts: +€147,700
- Other debts +€38,388
up €38,388 (+11.6%), from €330,720 to €369,108
- Reserves +€35,000
up €35,000 (+7.8%), from €449,977 to €484,977
- Current portion of long-term debt +€17,800
up €17,800 (+15.8%), from €112,500 to €130,300
- Gross operating margin -€21,391
down €21,391 (-9.9%), from €216,836 to €195,445
- Taxes -€17,029
down €17,029 (-46.0%), from €37,049 to €20,020
- Depreciation +€14,897
up €14,897 (+24.5%), from €60,877 to €75,774
- Financial charges -€6,500
down €6,500 (-25.6%), from €25,370 to €18,870
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 | €1,306,820 | €1,441,600 | +€134,780 | +10.3% |
| Fixed assets | 21/28 | €1,032,997 | €1,239,781 | +€206,784 | +20.0% |
| Tangible fixed assets | 22/27 | €1,032,997 | €1,239,781 | +€206,784 | +20.0% |
| Land and buildings | 22 | €984,853 | €1,182,546 | +€197,693 | +20.1% |
| Plant, machinery and equipment | 23 | €16,579 | €14,167 | -€2,412 | -14.5% |
| Furniture and vehicles | 24 | €31,565 | €43,068 | +€11,503 | +36.4% |
| Current assets | 29/58 | €273,824 | €201,819 | -€72,005 | -26.3% |
| Amounts receivable within one year | 40/41 | €105,679 | €59,450 | -€46,229 | -43.7% |
| Trade receivables | 40 | €51,106 | €24,493 | -€26,613 | -52.1% |
| Other amounts receivable | 41 | €54,572 | €34,957 | -€19,616 | -35.9% |
| Current investments | 50/53 | €54,657 | €98,207 | +€43,550 | +79.7% |
| Cash at bank and in hand | 54/58 | €110,217 | €40,654 | -€69,563 | -63.1% |
| Deferred charges and accrued income | 490/1 | €3,271 | €3,508 | +€237 | +7.2% |
| Total equity and liabilities | 10/49 | €1,306,820 | €1,441,600 | +€134,780 | +10.3% |
| Equity | 10/15 | €469,379 | €506,860 | +€37,481 | +8.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €449,977 | €484,977 | +€35,000 | +7.8% |
| Distributable reserves | 133 | €449,977 | €484,977 | +€35,000 | +7.8% |
| Profit (loss) carried forward | 14 | €852 | €3,333 | +€2,481 | +291% |
| Amounts payable | 17/49 | €837,442 | €934,740 | +€97,298 | +11.6% |
| Amounts payable after more than one year | 17 | €347,916 | €395,616 | +€47,700 | +13.7% |
| Financial debts | 170/4 | €47,916 | €195,616 | +€147,700 | +308% |
| Other amounts payable | 178/9 | €300,000 | €200,000 | -€100,000 | -33.3% |
| Amounts payable within one year | 42/48 | €469,637 | €522,161 | +€52,524 | +11.2% |
| Current portion of amounts payable after more than one year | 42 | €112,500 | €130,300 | +€17,800 | +15.8% |
| Trade debts | 44 | €3,189 | €10,634 | +€7,446 | +234% |
| Suppliers | 440/4 | €3,189 | €10,634 | +€7,446 | +234% |
| Taxes, remuneration and social security | 45 | €23,229 | €12,119 | -€11,110 | -47.8% |
| Taxes | 450/3 | €23,229 | €12,119 | -€11,110 | -47.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €330,720 | €369,108 | +€38,388 | +11.6% |
| Accrued charges and deferred income | 492/3 | €19,888 | €16,963 | -€2,925 | -14.7% |
| Non-recurring operating income | 76A | - | €435 | +€435 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,877 | €75,774 | +€14,897 | +24.5% |
| Other operating charges | 640/8 | €5,976 | €6,832 | +€857 | +14.3% |
| Gross operating margin | 9900 | €216,836 | €195,445 | -€21,391 | -9.9% |
| Operating profit (loss) | 9901 | €149,983 | €112,839 | -€37,144 | -24.8% |
| Financial income | 75/76B | €557 | €533 | -€25 | -4.4% |
| Recurring financial income | 75 | €557 | €533 | -€25 | -4.4% |
| Financial charges | 65/66B | €25,370 | €18,870 | -€6,500 | -25.6% |
| Recurring financial charges | 65 | €25,370 | €18,870 | -€6,500 | -25.6% |
| Profit (loss) for the period before taxes | 9903 | €125,170 | €94,501 | -€30,669 | -24.5% |
| Income taxes | 67/77 | €37,049 | €20,020 | -€17,029 | -46.0% |
| Profit (loss) for the period | 9904 | €88,122 | €74,481 | -€13,640 | -15.5% |
| Profit (loss) for the period to be appropriated | 9905 | €88,122 | €74,481 | -€13,640 | -15.5% |
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 16 October 2026 via checked.be.