LAERCO: 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.
LAERCO
Largest movements
- Cash +€1.6m
up €1.6m (+658%), from €242,825 to €1.8m
mainly Net result for the year (+€1.1m) and Current investments (+€898,644)
- Current investments -€898,644
down €898,644 (-100.0%), from €898,886 to €242
- Tangible fixed assets -€161,145
down €161,145 (-8.7%), from €1.8m to €1.7m
of which Land and buildings: -€126,885
- Receivables within one year +€144,045
up €144,045 (+129%), from €111,987 to €256,031
of which Trade receivables: +€109,501
- Reserves +€1.9m
up €1.9m (+1,307%), from €144,180 to €2.0m
of which Distributable reserves: +€1.9m
- Profit (loss) carried forward -€823,861
down €823,861 (-100%), from €823,861 to €0
- Debts after one year -€276,949
down €276,949 (-20.0%), from €1.4m to €1.1m
- Tax, wage and social debts +€129,592
up €129,592 (+123%), from €105,059 to €234,651
of which Taxes: +€148,869
- Other debts -€112,785
down €112,785 (-100%), from €112,785 to €0
- Gross operating margin +€1.4m
up €1.4m (+200%), from €691,319 to €2.1m
- Taxes +€337,488
up €337,488 (+893%), from €37,776 to €375,264
- Depreciation +€53,279
up €53,279 (+21.6%), from €246,370 to €299,648
- Staff costs +€50,814
up €50,814 (+23.2%), from €219,152 to €269,966
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 | €3,446,361 | €4,123,600 | +€677,239 | +19.7% |
| Fixed assets | 21/28 | €2,084,759 | €1,923,614 | -€161,145 | -7.7% |
| Tangible fixed assets | 22/27 | €1,848,715 | €1,687,570 | -€161,145 | -8.7% |
| Land and buildings | 22 | €1,180,658 | €1,053,773 | -€126,885 | -10.7% |
| Plant, machinery and equipment | 23 | €562,622 | €512,035 | -€50,587 | -9.0% |
| Furniture and vehicles | 24 | €105,435 | €121,762 | +€16,327 | +15.5% |
| Financial fixed assets | 28 | €236,044 | €236,044 | = | 0.0% |
| Current assets | 29/58 | €1,361,602 | €2,199,986 | +€838,384 | +61.6% |
| Amounts receivable after more than one year | 29 | €41,440 | €41,440 | = | 0.0% |
| Trade receivables | 290 | €41,440 | - | -€41,440 | |
| Other amounts receivable | 291 | - | €41,440 | +€41,440 | |
| Stocks and contracts in progress | 3 | €49,412 | €45,492 | -€3,920 | -7.9% |
| Stocks | 30/36 | €49,412 | €45,492 | -€3,920 | -7.9% |
| Amounts receivable within one year | 40/41 | €111,987 | €256,031 | +€144,045 | +129% |
| Trade receivables | 40 | €106,215 | €215,716 | +€109,501 | +103% |
| Other amounts receivable | 41 | €5,772 | €40,316 | +€34,544 | +599% |
| Current investments | 50/53 | €898,886 | €242 | -€898,644 | -100.0% |
| Cash at bank and in hand | 54/58 | €242,825 | €1,839,452 | +€1.6m | +658% |
| Deferred charges and accrued income | 490/1 | €17,052 | €17,328 | +€276 | +1.6% |
| Total equity and liabilities | 10/49 | €3,446,361 | €4,123,600 | +€677,239 | +19.7% |
| Equity | 10/15 | €995,541 | €2,054,312 | +€1.1m | +106% |
| Contributions | 10/11 | €27,500 | €25,000 | -€2,500 | -9.1% |
| Reserves | 13 | €144,180 | €2,029,312 | +€1.9m | +1,307% |
| Non-distributable reserves | 130/1 | - | €2,500 | +€2,500 | |
| Reserves not available under the articles | 1311 | - | €2,500 | +€2,500 | |
| Distributable reserves | 133 | €144,180 | €2,026,812 | +€1.9m | +1,306% |
| Profit (loss) carried forward | 14 | €823,861 | €0 | -€823,861 | -100% |
| Amounts payable | 17/49 | €2,450,819 | €2,069,288 | -€381,531 | -15.6% |
| Amounts payable after more than one year | 17 | €1,383,271 | €1,106,322 | -€276,949 | -20.0% |
| Financial debts | 170/4 | €1,383,271 | €1,106,322 | -€276,949 | -20.0% |
| Amounts payable within one year | 42/48 | €1,067,549 | €962,966 | -€104,582 | -9.8% |
| Current portion of amounts payable after more than one year | 42 | €345,665 | €305,738 | -€39,927 | -11.6% |
| Financial debts | 43 | €58 | €0 | -€58 | -100% |
| Credit institutions | 430/8 | €58 | €0 | -€58 | -100% |
| Trade debts | 44 | €503,981 | €422,577 | -€81,404 | -16.2% |
| Suppliers | 440/4 | €503,981 | €422,577 | -€81,404 | -16.2% |
| Taxes, remuneration and social security | 45 | €105,059 | €234,651 | +€129,592 | +123% |
| Taxes | 450/3 | €39,533 | €188,402 | +€148,869 | +377% |
| Remuneration and social security | 454/9 | €65,525 | €46,248 | -€19,277 | -29.4% |
| Other amounts payable | 47/48 | €112,785 | €0 | -€112,785 | -100% |
| Remuneration, social security and pensions | 62 | €219,152 | €269,966 | +€50,814 | +23.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €246,370 | €299,648 | +€53,279 | +21.6% |
| Other operating charges | 640/8 | €30,986 | €24,834 | -€6,152 | -19.9% |
| Gross operating margin | 9900 | €691,319 | €2,074,101 | +€1.4m | +200% |
| Operating profit (loss) | 9901 | €194,811 | €1,479,653 | +€1.3m | +660% |
| Financial income | 75/76B | €7,675 | €15,809 | +€8,134 | +106% |
| Recurring financial income | 75 | €7,675 | €15,809 | +€8,134 | +106% |
| Financial charges | 65/66B | €78,923 | €61,427 | -€17,495 | -22.2% |
| Recurring financial charges | 65 | €78,923 | €61,427 | -€17,495 | -22.2% |
| Profit (loss) for the period before taxes | 9903 | €123,564 | €1,434,034 | +€1.3m | +1,061% |
| Income taxes | 67/77 | €37,776 | €375,264 | +€337,488 | +893% |
| Profit (loss) for the period | 9904 | €85,789 | €1,058,770 | +€972,982 | +1,134% |
| Profit (loss) for the period to be appropriated | 9905 | €85,789 | €1,058,770 | +€972,982 | +1,134% |
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 17 October 2026 via checked.be.