LACO: 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.
LACO
Largest movements
- Receivables within one year +€15,930
up €15,930 (+71.8%), from €22,177 to €38,107
of which Trade receivables: +€17,291
- Tangible fixed assets -€6,854
down €6,854 (-4.2%), from €164,869 to €158,015
of which Furniture and vehicles: -€5,514
- Stocks and contracts -€3,500
down €3,500 (-3.4%), from €103,949 to €100,449
- Profit (loss) carried forward -€37,936
down €37,936 (-15.5%), from -€245,272 to -€283,208
- Short-term financial debts +€29,093
up €29,093 (+13.2%), from €220,405 to €249,498
- Trade debts +€22,760
up €22,760 (+70.5%), from €32,293 to €55,053
- Debts after one year -€4,182
down €4,182 (-51.2%), from €8,175 to €3,993
- Tax, wage and social debts -€3,153
down €3,153 (-32.6%), from €9,673 to €6,519
- Gross operating margin +€39,853
up €39,853, from -€35,748 to €4,104
- Write-downs +€11,745
new in 2025: €11,745
- Financial charges -€3,492
down €3,492 (-16.0%), from €21,793 to €18,301
- Depreciation +€1,626
up €1,626 (+31.1%), from €5,229 to €6,854
- Financial income -€977
down €977 (-78.7%), from €1,241 to €264
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 | €294,463 | €300,442 | +€5,979 | +2.0% |
| Fixed assets | 21/28 | €164,912 | €158,057 | -€6,854 | -4.2% |
| Tangible fixed assets | 22/27 | €164,869 | €158,015 | -€6,854 | -4.2% |
| Land and buildings | 22 | €140,958 | €139,640 | -€1,318 | -0.9% |
| Plant, machinery and equipment | 23 | €22 | €0 | -€22 | -100.0% |
| Furniture and vehicles | 24 | €23,890 | €18,376 | -€5,514 | -23.1% |
| Financial fixed assets | 28 | €42 | €42 | = | 0.0% |
| Current assets | 29/58 | €129,552 | €142,385 | +€12,833 | +9.9% |
| Stocks and contracts in progress | 3 | €103,949 | €100,449 | -€3,500 | -3.4% |
| Stocks | 30/36 | €103,949 | €100,449 | -€3,500 | -3.4% |
| Amounts receivable within one year | 40/41 | €22,177 | €38,107 | +€15,930 | +71.8% |
| Trade receivables | 40 | €19,182 | €36,473 | +€17,291 | +90.1% |
| Other amounts receivable | 41 | €2,995 | €1,634 | -€1,361 | -45.4% |
| Cash at bank and in hand | 54/58 | €3,426 | €3,829 | +€403 | +11.8% |
| Total equity and liabilities | 10/49 | €294,463 | €300,442 | +€5,979 | +2.0% |
| Equity | 10/15 | -€141,441 | -€179,377 | -€37,936 | -26.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Revaluation surpluses | 12 | €85,238 | €85,238 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€245,272 | -€283,208 | -€37,936 | -15.5% |
| Amounts payable | 17/49 | €435,905 | €479,819 | +€43,915 | +10.1% |
| Amounts payable after more than one year | 17 | €8,175 | €3,993 | -€4,182 | -51.2% |
| Financial debts | 170/4 | €8,175 | €3,993 | -€4,182 | -51.2% |
| Amounts payable within one year | 42/48 | €427,730 | €475,826 | +€48,097 | +11.2% |
| Current portion of amounts payable after more than one year | 42 | €4,007 | €4,182 | +€175 | +4.4% |
| Financial debts | 43 | €220,405 | €249,498 | +€29,093 | +13.2% |
| Credit institutions | 430/8 | €220,405 | €249,498 | +€29,093 | +13.2% |
| Trade debts | 44 | €32,293 | €55,053 | +€22,760 | +70.5% |
| Suppliers | 440/4 | €32,293 | €55,053 | +€22,760 | +70.5% |
| Taxes, remuneration and social security | 45 | €9,673 | €6,519 | -€3,153 | -32.6% |
| Taxes | 450/3 | €9,673 | €6,519 | -€3,153 | -32.6% |
| Other amounts payable | 47/48 | €161,351 | €160,574 | -€778 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,229 | €6,854 | +€1,626 | +31.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €11,745 | +€11,745 | |
| Other operating charges | 640/8 | €5,499 | €5,025 | -€474 | -8.6% |
| Gross operating margin | 9900 | -€35,748 | €4,104 | +€39,853 | |
| Operating profit (loss) | 9901 | -€46,476 | -€19,519 | +€26,956 | +58.0% |
| Financial income | 75/76B | €1,241 | €264 | -€977 | -78.7% |
| Recurring financial income | 75 | €1,241 | €264 | -€977 | -78.7% |
| Financial charges | 65/66B | €21,793 | €18,301 | -€3,492 | -16.0% |
| Recurring financial charges | 65 | €21,793 | €18,301 | -€3,492 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | -€67,027 | -€37,556 | +€29,471 | +44.0% |
| Income taxes | 67/77 | €156 | €380 | +€224 | +144.3% |
| Profit (loss) for the period | 9904 | -€67,183 | -€37,936 | +€29,247 | +43.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€67,183 | -€37,936 | +€29,247 | +43.5% |
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 4 October 2026 via checked.be.