LAFAS: 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.
LAFAS
Largest movements
- Stocks and contracts +€76,296
up €76,296 (+4.6%), from €1.6m to €1.7m
- Receivables within one year +€65,474
up €65,474 (+15.6%), from €420,613 to €486,087
of which Trade receivables: +€64,721
- Tangible fixed assets +€36,213
up €36,213 (+245.2%), from €14,766 to €50,979
of which Furniture and vehicles: +€39,626
- Short-term financial debts +€150,000
new in 2024: €150,000
- Reserves +€47,316
up €47,316 (+9.0%), from €525,845 to €573,161
of which Distributable reserves: +€47,316
- Trade debts -€32,159
down €32,159 (-27.7%), from €115,974 to €83,815
- Financial charges -€16,106
down €16,106 (-37.5%), from €42,925 to €26,819
- Gross operating margin -€11,727
down €11,727 (-7.0%), from €167,724 to €155,997
- Write-downs -€6,709
down €6,709 (-153.0%), from -€4,385 to -€11,094
- Financial income +€4,433
up €4,433 (+13038.2%), from €34 to €4,467
- Taxes +€4,081
up €4,081 (+25.9%), from €15,764 to €19,845
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,213,022 | €2,382,305 | +€169,283 | +7.6% |
| Fixed assets | 21/28 | €15,215 | €51,428 | +€36,213 | +238.0% |
| Tangible fixed assets | 22/27 | €14,766 | €50,979 | +€36,213 | +245.2% |
| Plant, machinery and equipment | 23 | €9,813 | €6,400 | -€3,413 | -34.8% |
| Furniture and vehicles | 24 | €4,953 | €44,579 | +€39,626 | +800.0% |
| Financial fixed assets | 28 | €449 | €449 | = | 0.0% |
| Current assets | 29/58 | €2,197,807 | €2,330,877 | +€133,070 | +6.1% |
| Stocks and contracts in progress | 3 | €1,641,809 | €1,718,105 | +€76,296 | +4.6% |
| Stocks | 30/36 | €1,641,809 | €1,718,105 | +€76,296 | +4.6% |
| Amounts receivable within one year | 40/41 | €420,613 | €486,087 | +€65,474 | +15.6% |
| Trade receivables | 40 | €376,364 | €441,085 | +€64,721 | +17.2% |
| Other amounts receivable | 41 | €44,249 | €45,002 | +€753 | +1.7% |
| Cash at bank and in hand | 54/58 | €135,204 | €126,685 | -€8,519 | -6.3% |
| Deferred charges and accrued income | 490/1 | €181 | - | -€181 | |
| Total equity and liabilities | 10/49 | €2,213,022 | €2,382,305 | +€169,283 | +7.6% |
| Equity | 10/15 | €1,515,647 | €1,562,963 | +€47,316 | +3.1% |
| Contributions | 10/11 | €962,000 | €962,000 | = | 0.0% |
| Capital | 10 | €962,000 | €962,000 | = | 0.0% |
| Issued capital | 100 | €962,000 | €962,000 | = | 0.0% |
| Reserves | 13 | €525,845 | €573,161 | +€47,316 | +9.0% |
| Non-distributable reserves | 130/1 | €80,000 | €80,000 | = | 0.0% |
| Legal reserve | 130 | €80,000 | €80,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €24,750 | €24,750 | = | 0.0% |
| Distributable reserves | 133 | €421,095 | €468,411 | +€47,316 | +11.2% |
| Profit (loss) carried forward | 14 | €27,802 | €27,802 | = | 0.0% |
| Provisions and deferred taxes | 16 | €149,272 | €149,272 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €149,272 | €149,272 | = | 0.0% |
| Pensions and similar obligations | 160 | €149,272 | €149,272 | = | 0.0% |
| Amounts payable | 17/49 | €548,103 | €670,070 | +€121,967 | +22.3% |
| Amounts payable within one year | 42/48 | €548,103 | €670,070 | +€121,967 | +22.3% |
| Financial debts | 43 | - | €150,000 | +€150,000 | |
| Credit institutions | 430/8 | - | €150,000 | +€150,000 | |
| Trade debts | 44 | €115,974 | €83,815 | -€32,159 | -27.7% |
| Suppliers | 440/4 | €115,974 | €83,815 | -€32,159 | -27.7% |
| Taxes, remuneration and social security | 45 | €74,917 | €73,048 | -€1,869 | -2.5% |
| Taxes | 450/3 | €63,246 | €53,750 | -€9,496 | -15.0% |
| Remuneration and social security | 454/9 | €11,671 | €19,298 | +€7,627 | +65.4% |
| Other amounts payable | 47/48 | €357,212 | €363,207 | +€5,995 | +1.7% |
| Remuneration, social security and pensions | 62 | €72,578 | €69,830 | -€2,748 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,348 | €5,516 | +€168 | +3.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€4,385 | -€11,094 | -€6,709 | -153.0% |
| Other operating charges | 640/8 | €1,910 | €2,232 | +€322 | +16.9% |
| Gross operating margin | 9900 | €167,724 | €155,997 | -€11,727 | -7.0% |
| Operating profit (loss) | 9901 | €92,273 | €89,513 | -€2,760 | -3.0% |
| Financial income | 75/76B | €34 | €4,467 | +€4,433 | +13038.2% |
| Recurring financial income | 75 | €34 | €4,467 | +€4,433 | +13038.2% |
| Financial charges | 65/66B | €42,925 | €26,819 | -€16,106 | -37.5% |
| Recurring financial charges | 65 | €42,925 | €26,819 | -€16,106 | -37.5% |
| Profit (loss) for the period before taxes | 9903 | €49,382 | €67,161 | +€17,779 | +36.0% |
| Income taxes | 67/77 | €15,764 | €19,845 | +€4,081 | +25.9% |
| Profit (loss) for the period | 9904 | €33,618 | €47,316 | +€13,698 | +40.7% |
| Profit (loss) for the period to be appropriated | 9905 | €33,618 | €47,316 | +€13,698 | +40.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.