LAEGRO: 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.
LAEGRO
Largest movements
- Receivables within one year +€1.3m
up €1.3m (+1,486%), from €90,622 to €1.4m
of which Trade receivables: +€942,053
- Tangible fixed assets +€859,552
up €859,552 (+997%), from €86,186 to €945,737
of which Plant, machinery and equipment: +€847,591
- Cash -€86,563
down €86,563 (-23.1%), from €375,388 to €288,825
- Financial fixed assets -€78,773
down €78,773 (-68.0%), from €115,923 to €37,150
- Trade debts +€923,908
up €923,908 (+331%), from €278,774 to €1.2m
- Profit (loss) carried forward +€912,067
up €912,067 (+183%), from €499,076 to €1.4m
- Short-term financial debts +€99,383
new in 2025: €99,383
- Tax, wage and social debts +€93,575
up €93,575 (+199%), from €47,131 to €140,706
of which Taxes: +€87,432
- Gross operating margin +€1.1m
up €1.1m (+250%), from €423,842 to €1.5m
- Taxes +€303,805
up €303,805 (+12,817%), from €2,370 to €306,176
- Staff costs +€160,813
up €160,813 (+275%), from €58,472 to €219,285
- Depreciation +€29,288
up €29,288 (+237%), from €12,380 to €41,668
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €864,191 | €2,893,124 | +€2.0m | +235% |
| Fixed assets | 21/28 | €202,108 | €982,887 | +€780,779 | +386% |
| Tangible fixed assets | 22/27 | €86,186 | €945,737 | +€859,552 | +997% |
| Plant, machinery and equipment | 23 | €86,186 | €933,776 | +€847,591 | +983% |
| Furniture and vehicles | 24 | - | €11,961 | +€11,961 | |
| Financial fixed assets | 28 | €115,923 | €37,150 | -€78,773 | -68.0% |
| Current assets | 29/58 | €662,083 | €1,910,236 | +€1.2m | +189% |
| Amounts receivable after more than one year | 29 | €5,000 | €5,000 | = | 0.0% |
| Trade receivables | 290 | - | €5,000 | +€5,000 | |
| Other amounts receivable | 291 | €5,000 | - | -€5,000 | |
| Stocks and contracts in progress | 3 | €176,546 | €176,813 | +€267 | +0.2% |
| Stocks | 30/36 | €176,546 | €176,813 | +€267 | +0.2% |
| Amounts receivable within one year | 40/41 | €90,622 | €1,437,303 | +€1.3m | +1,486% |
| Trade receivables | 40 | €90,622 | €1,032,675 | +€942,053 | +1,040% |
| Other amounts receivable | 41 | - | €404,628 | +€404,628 | |
| Cash at bank and in hand | 54/58 | €375,388 | €288,825 | -€86,563 | -23.1% |
| Deferred charges and accrued income | 490/1 | €14,526 | €2,295 | -€12,231 | -84.2% |
| Total equity and liabilities | 10/49 | €864,191 | €2,893,124 | +€2.0m | +235% |
| Equity | 10/15 | €538,286 | €1,450,352 | +€912,067 | +169% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €20,610 | €20,610 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €499,076 | €1,411,142 | +€912,067 | +183% |
| Amounts payable | 17/49 | €325,906 | €1,442,771 | +€1.1m | +343% |
| Amounts payable within one year | 42/48 | €325,906 | €1,442,771 | +€1.1m | +343% |
| Financial debts | 43 | - | €99,383 | +€99,383 | |
| Other loans | 439 | - | €99,383 | +€99,383 | |
| Trade debts | 44 | €278,774 | €1,202,682 | +€923,908 | +331% |
| Suppliers | 440/4 | €278,774 | €1,202,682 | +€923,908 | +331% |
| Taxes, remuneration and social security | 45 | €47,131 | €140,706 | +€93,575 | +199% |
| Taxes | 450/3 | €38,201 | €125,633 | +€87,432 | +229% |
| Remuneration and social security | 454/9 | €8,930 | €15,073 | +€6,143 | +68.8% |
| Remuneration, social security and pensions | 62 | €58,472 | €219,285 | +€160,813 | +275% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,380 | €41,668 | +€29,288 | +237% |
| Other operating charges | 640/8 | €1,474 | €4,698 | +€3,224 | +219% |
| Gross operating margin | 9900 | €423,842 | €1,483,048 | +€1.1m | +250% |
| Operating profit (loss) | 9901 | €351,516 | €1,217,397 | +€865,881 | +246% |
| Financial income | 75/76B | €62 | €1,807 | +€1,744 | +2,800% |
| Recurring financial income | 75 | €62 | €1,807 | +€1,744 | +2,800% |
| Financial charges | 65/66B | €54 | €961 | +€907 | +1,679% |
| Recurring financial charges | 65 | €54 | €961 | +€907 | +1,679% |
| Profit (loss) for the period before taxes | 9903 | €351,524 | €1,218,243 | +€866,718 | +247% |
| Income taxes | 67/77 | €2,370 | €306,176 | +€303,805 | +12,817% |
| Profit (loss) for the period | 9904 | €349,154 | €912,067 | +€562,913 | +161% |
| Profit (loss) for the period to be appropriated | 9905 | €349,154 | €912,067 | +€562,913 | +161% |
Source: filed annual accounts (NBB), financial years ended 30 June 2023 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.