Laennec: 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.
Laennec
Largest movements
- Current investments -€37,247
down €37,247 (-13.0%), from €286,763 to €249,516
- Receivables within one year +€15,686
up €15,686 (+41.2%), from €38,072 to €53,758
- Cash -€10,774
down €10,774 (-49.6%), from €21,733 to €10,959
mainly Net result for the year (-€36,990) and Investment in fixed assets (net) (-€26,955)
- Tangible fixed assets -€6,960
down €6,960 (-4.4%), from €157,037 to €150,077
of which Furniture and vehicles: -€18,938
- Profit (loss) carried forward -€36,990
down €36,990 (-9.7%), from €381,807 to €344,818
- Gross operating margin -€643,353
down €643,353, from €612,427 to -€30,927
- Taxes -€78,867
down €78,867 (-99.7%), from €79,135 to €268
- Depreciation -€20,875
down €20,875 (-38.1%), from €54,789 to €33,914
- Financial income +€12,605
up €12,605 (+58.9%), from €21,403 to €34,008
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 | €506,140 | €466,933 | -€39,207 | -7.7% |
| Fixed assets | 21/28 | €157,037 | €150,077 | -€6,960 | -4.4% |
| Tangible fixed assets | 22/27 | €157,037 | €150,077 | -€6,960 | -4.4% |
| Land and buildings | 22 | €42,210 | €42,210 | = | 0.0% |
| Plant, machinery and equipment | 23 | €54,813 | €66,791 | +€11,978 | +21.9% |
| Furniture and vehicles | 24 | €60,014 | €41,076 | -€18,938 | -31.6% |
| Current assets | 29/58 | €349,103 | €316,856 | -€32,248 | -9.2% |
| Amounts receivable within one year | 40/41 | €38,072 | €53,758 | +€15,686 | +41.2% |
| Other amounts receivable | 41 | €38,072 | €53,758 | +€15,686 | +41.2% |
| Current investments | 50/53 | €286,763 | €249,516 | -€37,247 | -13.0% |
| Cash at bank and in hand | 54/58 | €21,733 | €10,959 | -€10,774 | -49.6% |
| Deferred charges and accrued income | 490/1 | €2,536 | €2,623 | +€87 | +3.4% |
| Total equity and liabilities | 10/49 | €506,140 | €466,933 | -€39,207 | -7.7% |
| Equity | 10/15 | €499,519 | €462,529 | -€36,990 | -7.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €17,711 | €17,711 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,711 | €7,711 | = | 0.0% |
| Profit (loss) carried forward | 14 | €381,807 | €344,818 | -€36,990 | -9.7% |
| Amounts payable | 17/49 | €6,621 | €4,404 | -€2,218 | -33.5% |
| Amounts payable within one year | 42/48 | €4,421 | €2,204 | -€2,218 | -50.2% |
| Trade debts | 44 | €4,421 | €2,204 | -€2,218 | -50.2% |
| Suppliers | 440/4 | €4,421 | €2,204 | -€2,218 | -50.2% |
| Accrued charges and deferred income | 492/3 | €2,200 | €2,200 | = | 0.0% |
| Non-recurring operating income | 76A | €700,794 | - | -€700,794 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,789 | €33,914 | -€20,875 | -38.1% |
| Other operating charges | 640/8 | €7,435 | €4,201 | -€3,233 | -43.5% |
| Gross operating margin | 9900 | €612,427 | -€30,927 | -€643,353 | |
| Operating profit (loss) | 9901 | €550,203 | -€69,042 | -€619,245 | |
| Financial income | 75/76B | €21,403 | €34,008 | +€12,605 | +58.9% |
| Recurring financial income | 75 | €21,403 | €34,008 | +€12,605 | +58.9% |
| Financial charges | 65/66B | €3,620 | €1,687 | -€1,932 | -53.4% |
| Recurring financial charges | 65 | €3,620 | €1,687 | -€1,932 | -53.4% |
| Profit (loss) for the period before taxes | 9903 | €567,986 | -€36,722 | -€604,708 | |
| Income taxes | 67/77 | €79,135 | €268 | -€78,867 | -99.7% |
| Profit (loss) for the period | 9904 | €488,852 | -€36,990 | -€525,841 | |
| Profit (loss) for the period to be appropriated | 9905 | €488,852 | -€36,990 | -€525,841 |
Source: filed annual accounts (NBB), fiscal years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.