LACOBRA: 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.
LACOBRA
Largest movements
- Receivables within one year -€28,157
down €28,157 (-100%), from €28,157 to €0
of which Other amounts receivable: -€28,157
- Cash +€27,657
up €27,657 (+1,218%), from €2,271 to €29,928
mainly Depreciation (+€40,799) and Receivables within one year (+€28,157)
- Tangible fixed assets -€26,324
down €26,324 (-5.4%), from €492,022 to €465,698
- Debts after one year -€52,823
down €52,823 (-15.5%), from €341,232 to €288,409
- Reserves +€12,325
new in 2025: €12,325
- Other debts +€7,340
up €7,340 (+6.5%), from €113,783 to €121,123
- Taxes +€5,700
new in 2025: €5,700
- Gross operating margin +€4,502
up €4,502 (+6.4%), from €70,038 to €74,540
- Financial charges -€1,475
down €1,475 (-11.5%), from €12,878 to €11,403
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 | €523,195 | €496,393 | -€26,803 | -5.1% |
| Fixed assets | 21/28 | €492,022 | €465,698 | -€26,324 | -5.4% |
| Tangible fixed assets | 22/27 | €492,022 | €465,698 | -€26,324 | -5.4% |
| Land and buildings | 22 | €492,022 | €465,698 | -€26,324 | -5.4% |
| Current assets | 29/58 | €31,173 | €30,695 | -€479 | -1.5% |
| Amounts receivable within one year | 40/41 | €28,157 | €0 | -€28,157 | -100% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €28,157 | €0 | -€28,157 | -100% |
| Cash at bank and in hand | 54/58 | €2,271 | €29,928 | +€27,657 | +1,218% |
| Deferred charges and accrued income | 490/1 | €745 | €767 | +€22 | +2.9% |
| Total equity and liabilities | 10/49 | €523,195 | €496,393 | -€26,803 | -5.1% |
| Equity | 10/15 | €16,753 | €30,925 | +€14,172 | +84.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €12,325 | +€12,325 | |
| Distributable reserves | 133 | - | €12,325 | +€12,325 | |
| Profit (loss) carried forward | 14 | -€1,847 | €0 | +€1,847 | |
| Amounts payable | 17/49 | €506,442 | €465,468 | -€40,974 | -8.1% |
| Amounts payable after more than one year | 17 | €341,232 | €288,409 | -€52,823 | -15.5% |
| Financial debts | 170/4 | €341,232 | €288,409 | -€52,823 | -15.5% |
| Amounts payable within one year | 42/48 | €165,211 | €177,059 | +€11,849 | +7.2% |
| Current portion of amounts payable after more than one year | 42 | €51,273 | €52,823 | +€1,550 | +3.0% |
| Trade debts | 44 | €154 | €913 | +€759 | +491% |
| Suppliers | 440/4 | €154 | €913 | +€759 | +491% |
| Taxes, remuneration and social security | 45 | - | €2,200 | +€2,200 | |
| Taxes | 450/3 | - | €2,200 | +€2,200 | |
| Other amounts payable | 47/48 | €113,783 | €121,123 | +€7,340 | +6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,147 | €40,799 | +€652 | +1.6% |
| Other operating charges | 640/8 | €2,442 | €2,467 | +€24 | +1.0% |
| Gross operating margin | 9900 | €70,038 | €74,540 | +€4,502 | +6.4% |
| Operating profit (loss) | 9901 | €27,449 | €31,275 | +€3,826 | +13.9% |
| Financial charges | 65/66B | €12,878 | €11,403 | -€1,475 | -11.5% |
| Recurring financial charges | 65 | €12,878 | €11,403 | -€1,475 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | €14,572 | €19,872 | +€5,300 | +36.4% |
| Income taxes | 67/77 | - | €5,700 | +€5,700 | |
| Profit (loss) for the period | 9904 | €14,572 | €14,172 | -€400 | -2.7% |
| Profit (loss) for the period to be appropriated | 9905 | €14,572 | €14,172 | -€400 | -2.7% |
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 15 October 2026 via checked.be.