LAEVERS: 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.
LAEVERS
Largest movements
- Tangible fixed assets -€76,597
down €76,597 (-13.2%), from €581,662 to €505,066
of which Land and buildings: -€61,132
- Cash +€26,569
up €26,569 (+22.0%), from €121,025 to €147,594
mainly Depreciation (+€95,111) and Net result for the year (+€45,454)
- Receivables within one year +€13,316
up €13,316 (+5.7%), from €233,251 to €246,567
of which Other amounts receivable: +€15,378
- Trade debts -€77,324
down €77,324 (-28.5%), from €270,843 to €193,519
- Reserves +€45,454
up €45,454 (+38.0%), from €119,530 to €164,984
- Debts after one year -€41,674
down €41,674 (-8.7%), from €476,302 to €434,629
of which Financial debts: -€48,742
- Tax, wage and social debts +€23,657
up €23,657 (+81.6%), from €28,976 to €52,633
of which Remuneration and social security: +€16,500
- Gross operating margin +€47,924
up €47,924 (+14.2%), from €338,464 to €386,387
- Staff costs -€7,043
down €7,043 (-3.0%), from €237,483 to €230,439
- Depreciation -€7,000
down €7,000 (-6.9%), from €102,111 to €95,111
- Taxes +€6,706
new in 2025: €6,706
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 | €949,688 | €905,706 | -€43,982 | -4.6% |
| Fixed assets | 21/28 | €581,662 | €505,066 | -€76,597 | -13.2% |
| Tangible fixed assets | 22/27 | €581,662 | €505,066 | -€76,597 | -13.2% |
| Land and buildings | 22 | €545,072 | €483,940 | -€61,132 | -11.2% |
| Plant, machinery and equipment | 23 | €34,577 | €21,126 | -€13,451 | -38.9% |
| Furniture and vehicles | 24 | €2,013 | €0 | -€2,013 | -100% |
| Current assets | 29/58 | €368,026 | €400,641 | +€32,615 | +8.9% |
| Stocks and contracts in progress | 3 | €8,750 | €6,480 | -€2,270 | -25.9% |
| Stocks | 30/36 | €8,750 | €6,480 | -€2,270 | -25.9% |
| Amounts receivable within one year | 40/41 | €233,251 | €246,567 | +€13,316 | +5.7% |
| Trade receivables | 40 | €3,699 | €1,636 | -€2,063 | -55.8% |
| Other amounts receivable | 41 | €229,552 | €244,930 | +€15,378 | +6.7% |
| Cash at bank and in hand | 54/58 | €121,025 | €147,594 | +€26,569 | +22.0% |
| Deferred charges and accrued income | 490/1 | €5,000 | €0 | -€5,000 | -100% |
| Total equity and liabilities | 10/49 | €949,688 | €905,706 | -€43,982 | -4.6% |
| Equity | 10/15 | €125,730 | €171,184 | +€45,454 | +36.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €119,530 | €164,984 | +€45,454 | +38.0% |
| Distributable reserves | 133 | €119,530 | €164,984 | +€45,454 | +38.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €823,958 | €734,523 | -€89,435 | -10.9% |
| Amounts payable after more than one year | 17 | €476,302 | €434,629 | -€41,674 | -8.7% |
| Financial debts | 170/4 | €299,594 | €250,852 | -€48,742 | -16.3% |
| Other amounts payable | 178/9 | €176,708 | €183,777 | +€7,068 | +4.0% |
| Amounts payable within one year | 42/48 | €347,656 | €294,894 | -€52,762 | -15.2% |
| Current portion of amounts payable after more than one year | 42 | €47,837 | €48,742 | +€905 | +1.9% |
| Trade debts | 44 | €270,843 | €193,519 | -€77,324 | -28.5% |
| Suppliers | 440/4 | €270,843 | €193,519 | -€77,324 | -28.5% |
| Taxes, remuneration and social security | 45 | €28,976 | €52,633 | +€23,657 | +81.6% |
| Taxes | 450/3 | €4,648 | €11,805 | +€7,157 | +154% |
| Remuneration and social security | 454/9 | €24,328 | €40,828 | +€16,500 | +67.8% |
| Accrued charges and deferred income | 492/3 | €0 | €5,000 | +€5,000 | |
| Remuneration, social security and pensions | 62 | €237,483 | €230,439 | -€7,043 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,111 | €95,111 | -€7,000 | -6.9% |
| Other operating charges | 640/8 | €2,675 | €3,628 | +€953 | +35.6% |
| Gross operating margin | 9900 | €338,464 | €386,387 | +€47,924 | +14.2% |
| Operating profit (loss) | 9901 | -€3,806 | €57,209 | +€61,015 | |
| Financial income | 75/76B | €8,705 | €8,954 | +€249 | +2.9% |
| Recurring financial income | 75 | €8,705 | €8,954 | +€249 | +2.9% |
| Financial charges | 65/66B | €14,052 | €14,003 | -€49 | -0.3% |
| Recurring financial charges | 65 | €14,052 | €14,003 | -€49 | -0.3% |
| Profit (loss) for the period before taxes | 9903 | -€9,153 | €52,160 | +€61,312 | |
| Income taxes | 67/77 | - | €6,706 | +€6,706 | |
| Profit (loss) for the period | 9904 | -€9,153 | €45,454 | +€54,606 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,153 | €45,454 | +€54,606 |
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 17 October 2026 via checked.be.