LAFARE: 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.
What changed
LAFARE
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€35,347
2024 · -€14,641-€20,705
Equity
€1.3m
2024 · €1.3m-€35,347
Cash
€50,547
2024 · €34,951+€15,596
Balance sheet total
€2.1m
2024 · €2.1m-€66,969
Largest movements
Assets
- Tangible fixed assets -€88,750
down €88,750 (-4.2%), from €2.1m to €2.0m
of which Land and buildings: -€77,790
Equity and liabilities
- Reserves -€35,414
down €35,414 (-5.2%), from €679,124 to €643,710
of which Tax-exempt reserves: -€42,814
Income statement
- Gross operating margin -€26,300
down €26,300 (-18.6%), from €141,330 to €115,031
- Taxes -€11,450
down €11,450 (-76.1%), from €15,054 to €3,605
- Other operating charges +€3,262
up €3,262 (+17.5%), from €18,638 to €21,900
- Depreciation +€2,730
up €2,730 (+2.1%), from €132,748 to €135,478
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.
Result 2024
-€14,641
Gross operating margin
-€26,300
Depreciation
-€2,730
Other operating charges
-€3,262
Financial income
-€9
Financial charges
+€146
Taxes
+€11,450
Result 2025
-€35,347
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.
From operations
+€83,322
Investment
-€46,727
Financing
-€20,998
Cash 2024
€34,951
From operations (derived)
+€83,322
Net result for the year
-€35,347
Depreciation
+€135,478
Receivables within one year
-€12,535
Deferred charges and accrued income
+€6,349
Provisions
-€14,271
Trade debts
+€717
Tax, wage and social debts
-€1,032
Other debts
+€10,019
Accrued charges and deferred income
-€6,057
Investment (derived)
-€46,727
Investment in fixed assets (net)
-€46,727
Financing
-€20,998
Debts after one year
-€12,977
Current portion of long-term debt
-€8,022
Cash 2025
€50,547
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,131,110 | €2,064,142 | -€66,969 | -3.1% |
| Fixed assets | 21/28 | €2,088,495 | €1,999,745 | -€88,750 | -4.2% |
| Tangible fixed assets | 22/27 | €2,088,495 | €1,999,745 | -€88,750 | -4.2% |
| Land and buildings | 22 | €2,062,415 | €1,984,625 | -€77,790 | -3.8% |
| Furniture and vehicles | 24 | €26,080 | €15,120 | -€10,960 | -42.0% |
| Current assets | 29/58 | €42,615 | €64,397 | +€21,782 | +51.1% |
| Amounts receivable within one year | 40/41 | - | €12,535 | +€12,535 | |
| Trade receivables | 40 | - | €300 | +€300 | |
| Other amounts receivable | 41 | - | €12,235 | +€12,235 | |
| Cash at bank and in hand | 54/58 | €34,951 | €50,547 | +€15,596 | +44.6% |
| Deferred charges and accrued income | 490/1 | €7,664 | €1,315 | -€6,349 | -82.8% |
| Total equity and liabilities | 10/49 | €2,131,110 | €2,064,142 | -€66,969 | -3.1% |
| Equity | 10/15 | €1,321,130 | €1,285,783 | -€35,347 | -2.7% |
| Contributions | 10/11 | €633,592 | €633,592 | = | 0.0% |
| Reserves | 13 | €679,124 | €643,710 | -€35,414 | -5.2% |
| Tax-exempt reserves | 132 | €323,515 | €280,701 | -€42,814 | -13.2% |
| Distributable reserves | 133 | €355,609 | €363,009 | +€7,400 | +2.1% |
| Profit (loss) carried forward | 14 | €8,414 | €8,481 | +€67 | +0.8% |
| Provisions and deferred taxes | 16 | €213,085 | €198,814 | -€14,271 | -6.7% |
| Deferred taxes | 168 | €213,085 | €198,814 | -€14,271 | -6.7% |
| Amounts payable | 17/49 | €596,896 | €579,545 | -€17,351 | -2.9% |
| Amounts payable after more than one year | 17 | €242,084 | €229,107 | -€12,977 | -5.4% |
| Financial debts | 170/4 | €242,084 | €229,107 | -€12,977 | -5.4% |
| Amounts payable within one year | 42/48 | €342,395 | €344,078 | +€1,683 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €20,998 | €12,977 | -€8,022 | -38.2% |
| Trade debts | 44 | - | €717 | +€717 | |
| Suppliers | 440/4 | - | €717 | +€717 | |
| Taxes, remuneration and social security | 45 | €3,838 | €2,806 | -€1,032 | -26.9% |
| Taxes | 450/3 | €3,838 | €2,806 | -€1,032 | -26.9% |
| Other amounts payable | 47/48 | €317,558 | €327,577 | +€10,019 | +3.2% |
| Accrued charges and deferred income | 492/3 | €12,417 | €6,360 | -€6,057 | -48.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €132,748 | €135,478 | +€2,730 | +2.1% |
| Other operating charges | 640/8 | €18,638 | €21,900 | +€3,262 | +17.5% |
| Gross operating margin | 9900 | €141,330 | €115,031 | -€26,300 | -18.6% |
| Operating profit (loss) | 9901 | -€10,056 | -€42,347 | -€32,292 | -321.1% |
| Financial income | 75/76B | €154 | €144 | -€9 | -6.0% |
| Recurring financial income | 75 | €154 | €144 | -€9 | -6.0% |
| Financial charges | 65/66B | €3,956 | €3,810 | -€146 | -3.7% |
| Recurring financial charges | 65 | €3,956 | €3,810 | -€146 | -3.7% |
| Profit (loss) for the period before taxes | 9903 | -€13,858 | -€46,013 | -€32,155 | -232.0% |
| Transfer from deferred taxes | 780 | €14,271 | €14,271 | = | 0.0% |
| Income taxes | 67/77 | €15,054 | €3,605 | -€11,450 | -76.1% |
| Profit (loss) for the period | 9904 | -€14,641 | -€35,347 | -€20,705 | -141.4% |
| Transfer from tax-exempt reserves | 789 | €42,814 | €42,814 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €28,172 | €7,467 | -€20,705 | -73.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.