LACO: 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.
LACO
Largest movements
- Tangible fixed assets -€108,938
down €108,938 (-27.6%), from €394,182 to €285,244
of which Land and buildings: -€93,889
- Receivables after one year -€22,000
down €22,000 (-18.3%), from €120,000 to €98,000
- Receivables within one year +€18,678
up €18,678 (+21.0%), from €88,786 to €107,464
of which Other amounts receivable: +€10,838
- Debts after one year -€177,641
down €177,641 (-61.7%), from €287,964 to €110,322
- Reserves +€154,370
up €154,370 (+83.3%), from €185,257 to €339,628
of which Tax-exempt reserves: +€183,566
- Other debts -€113,640
down €113,640 (-47.6%), from €238,941 to €125,301
- Provisions +€61,716
up €61,716 (+599.8%), from €10,289 to €72,006
- Current portion of long-term debt -€23,101
down €23,101 (-37.7%), from €61,297 to €38,196
- Gross operating margin +€250,705
up €250,705 (+291.6%), from €85,977 to €336,682
- Financial income -€11,385
down €11,385 (-60.7%), from €18,742 to €7,356
- Depreciation -€6,758
down €6,758 (-12.3%), from €54,816 to €48,057
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 | €819,918 | €713,885 | -€106,033 | -12.9% |
| Fixed assets | 21/28 | €599,858 | €490,920 | -€108,938 | -18.2% |
| Tangible fixed assets | 22/27 | €394,182 | €285,244 | -€108,938 | -27.6% |
| Land and buildings | 22 | €340,613 | €246,724 | -€93,889 | -27.6% |
| Plant, machinery and equipment | 23 | €1,131 | €752 | -€380 | -33.5% |
| Furniture and vehicles | 24 | €50,416 | €35,747 | -€14,669 | -29.1% |
| Other tangible fixed assets | 26 | €2,021 | €2,021 | = | 0.0% |
| Financial fixed assets | 28 | €205,676 | €205,676 | = | 0.0% |
| Current assets | 29/58 | €220,060 | €222,965 | +€2,905 | +1.3% |
| Amounts receivable after more than one year | 29 | €120,000 | €98,000 | -€22,000 | -18.3% |
| Other amounts receivable | 291 | €120,000 | €98,000 | -€22,000 | -18.3% |
| Amounts receivable within one year | 40/41 | €88,786 | €107,464 | +€18,678 | +21.0% |
| Trade receivables | 40 | €0 | €7,840 | +€7,840 | |
| Other amounts receivable | 41 | €88,786 | €99,624 | +€10,838 | +12.2% |
| Cash at bank and in hand | 54/58 | €506 | €1,052 | +€546 | +107.8% |
| Deferred charges and accrued income | 490/1 | €10,768 | €16,449 | +€5,681 | +52.8% |
| Total equity and liabilities | 10/49 | €819,918 | €713,885 | -€106,033 | -12.9% |
| Equity | 10/15 | €191,465 | €345,836 | +€154,370 | +80.6% |
| Contributions | 10/11 | €6,208 | €6,208 | = | 0.0% |
| Reserves | 13 | €185,257 | €339,628 | +€154,370 | +83.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €41,156 | €224,722 | +€183,566 | +446.0% |
| Distributable reserves | 133 | €144,101 | €114,906 | -€29,196 | -20.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €10,289 | €72,006 | +€61,716 | +599.8% |
| Deferred taxes | 168 | €10,289 | €72,006 | +€61,716 | +599.8% |
| Amounts payable | 17/49 | €618,164 | €296,043 | -€322,120 | -52.1% |
| Amounts payable after more than one year | 17 | €287,964 | €110,322 | -€177,641 | -61.7% |
| Financial debts | 170/4 | €287,964 | €110,322 | -€177,641 | -61.7% |
| Amounts payable within one year | 42/48 | €324,525 | €181,216 | -€143,309 | -44.2% |
| Current portion of amounts payable after more than one year | 42 | €61,297 | €38,196 | -€23,101 | -37.7% |
| Trade debts | 44 | €10,590 | €1,723 | -€8,867 | -83.7% |
| Suppliers | 440/4 | €10,590 | €1,723 | -€8,867 | -83.7% |
| Advances received on contracts in progress | 46 | €9,230 | €10,704 | +€1,474 | +16.0% |
| Taxes, remuneration and social security | 45 | €4,467 | €5,292 | +€824 | +18.4% |
| Taxes | 450/3 | €4,467 | €5,292 | +€824 | +18.4% |
| Other amounts payable | 47/48 | €238,941 | €125,301 | -€113,640 | -47.6% |
| Accrued charges and deferred income | 492/3 | €5,675 | €4,505 | -€1,170 | -20.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,816 | €48,057 | -€6,758 | -12.3% |
| Other operating charges | 640/8 | €7,962 | €6,166 | -€1,796 | -22.6% |
| Gross operating margin | 9900 | €85,977 | €336,682 | +€250,705 | +291.6% |
| Operating profit (loss) | 9901 | €23,198 | €282,458 | +€259,260 | +1117.6% |
| Financial income | 75/76B | €18,742 | €7,356 | -€11,385 | -60.7% |
| Recurring financial income | 75 | €18,742 | €7,356 | -€11,385 | -60.7% |
| Financial charges | 65/66B | €16,088 | €14,122 | -€1,966 | -12.2% |
| Recurring financial charges | 65 | €16,088 | €14,122 | -€1,966 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | €25,852 | €275,693 | +€249,841 | +966.4% |
| Transfer from deferred taxes | 780 | €1,584 | €1,584 | = | 0.0% |
| Transfer to deferred taxes | 680 | - | €63,300 | +€63,300 | |
| Income taxes | 67/77 | €6,967 | €10,292 | +€3,324 | +47.7% |
| Profit (loss) for the period | 9904 | €20,468 | €203,685 | +€183,217 | +895.1% |
| Transfer from tax-exempt reserves | 789 | €6,334 | €6,334 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | - | €189,900 | +€189,900 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,802 | €20,119 | -€6,683 | -24.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.