LACGEST: 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.
LACGEST
Largest movements
- Financial fixed assets +€449,884
up €449,884 (+130%), from €347,398 to €797,281
- Cash -€373,552
down €373,552 (-42.7%), from €875,088 to €501,536
mainly Contributions, distributions and other (-€710,000) and Investment in fixed assets (net) (-€456,580)
- Current investments +€350,000
up €350,000, from €0 to €350,000
- Receivables within one year +€191,041
up €191,041 (+20.2%), from €947,604 to €1.1m
of which Other amounts receivable: +€151,370
- Tangible fixed assets -€47,861
down €47,861 (-12.5%), from €382,568 to €334,707
of which Land and buildings: -€34,750
- Other debts +€570,000
up €570,000 (+407%), from €140,000 to €710,000
- Reserves +€60,798
up €60,798 (+1.7%), from €3.7m to €3.7m
of which Distributable reserves: +€60,798
- Financial income -€1.4m
down €1.4m (-95.3%), from €1.5m to €68,993
- Gross operating margin -€185,967
down €185,967 (-14.4%), from €1.3m to €1.1m
- Taxes -€66,401
down €66,401 (-16.1%), from €413,343 to €346,942
- Financial charges -€15,604
down €15,604 (-81.2%), from €19,208 to €3,603
of which Non-recurring financial charges: -€18,020
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 | €4,158,886 | €4,752,214 | +€593,328 | +14.3% |
| Fixed assets | 21/28 | €729,966 | €1,131,988 | +€402,022 | +55.1% |
| Tangible fixed assets | 22/27 | €382,568 | €334,707 | -€47,861 | -12.5% |
| Land and buildings | 22 | €360,757 | €326,007 | -€34,750 | -9.6% |
| Plant, machinery and equipment | 23 | €4,524 | €0 | -€4,524 | -100% |
| Furniture and vehicles | 24 | €17,287 | €8,700 | -€8,587 | -49.7% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €347,398 | €797,281 | +€449,884 | +130% |
| Current assets | 29/58 | €3,428,920 | €3,620,226 | +€191,306 | +5.6% |
| Amounts receivable after more than one year | 29 | €1,596,854 | €1,620,187 | +€23,333 | +1.5% |
| Trade receivables | 290 | €1,596,854 | €1,620,187 | +€23,333 | +1.5% |
| Amounts receivable within one year | 40/41 | €947,604 | €1,138,645 | +€191,041 | +20.2% |
| Trade receivables | 40 | €602,748 | €642,419 | +€39,672 | +6.6% |
| Other amounts receivable | 41 | €344,856 | €496,226 | +€151,370 | +43.9% |
| Current investments | 50/53 | €0 | €350,000 | +€350,000 | |
| Cash at bank and in hand | 54/58 | €875,088 | €501,536 | -€373,552 | -42.7% |
| Deferred charges and accrued income | 490/1 | €9,374 | €9,858 | +€483 | +5.2% |
| Total equity and liabilities | 10/49 | €4,158,886 | €4,752,214 | +€593,328 | +14.3% |
| Equity | 10/15 | €3,665,102 | €3,725,900 | +€60,798 | +1.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €3,652,702 | €3,713,500 | +€60,798 | +1.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €3,650,842 | €3,711,640 | +€60,798 | +1.7% |
| Amounts payable | 17/49 | €493,784 | €1,026,314 | +€532,530 | +108% |
| Amounts payable within one year | 42/48 | €493,784 | €1,026,314 | +€532,530 | +108% |
| Trade debts | 44 | €6,986 | €5,258 | -€1,728 | -24.7% |
| Suppliers | 440/4 | €6,986 | €5,258 | -€1,728 | -24.7% |
| Taxes, remuneration and social security | 45 | €346,798 | €311,056 | -€35,742 | -10.3% |
| Taxes | 450/3 | €346,798 | €311,056 | -€35,742 | -10.3% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €140,000 | €710,000 | +€570,000 | +407% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,402 | €54,558 | -€8,844 | -13.9% |
| Other operating charges | 640/8 | €2,791 | €2,897 | +€106 | +3.8% |
| Non-recurring operating charges | 66A | €4,500 | - | -€4,500 | |
| Gross operating margin | 9900 | €1,295,773 | €1,109,806 | -€185,967 | -14.4% |
| Operating profit (loss) | 9901 | €1,225,080 | €1,052,351 | -€172,729 | -14.1% |
| Financial income | 75/76B | €1,456,867 | €68,993 | -€1.4m | -95.3% |
| Recurring financial income | 75 | €1,456,867 | €68,993 | -€1.4m | -95.3% |
| Financial charges | 65/66B | €19,208 | €3,603 | -€15,604 | -81.2% |
| Recurring financial charges | 65 | €1,188 | €3,603 | +€2,416 | +203% |
| Non-recurring financial charges | 66B | €18,020 | - | -€18,020 | |
| Profit (loss) for the period before taxes | 9903 | €2,662,739 | €1,117,740 | -€1.5m | -58.0% |
| Income taxes | 67/77 | €413,343 | €346,942 | -€66,401 | -16.1% |
| Profit (loss) for the period | 9904 | €2,249,395 | €770,798 | -€1.5m | -65.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,249,395 | €770,798 | -€1.5m | -65.7% |
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 23 October 2026 via checked.be.