LAFDAC: 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.
LAFDAC
Largest movements
- Receivables within one year -€78,011
down €78,011 (-67.7%), from €115,217 to €37,206
of which Trade receivables: -€78,000
- Tangible fixed assets -€29,263
down €29,263 (-4.1%), from €717,366 to €688,103
of which Land and buildings: -€25,308
- Cash +€21,727
up €21,727 (+53.9%), from €40,339 to €62,066
mainly Receivables within one year (+€78,011) and Depreciation (+€29,263)
- Reserves -€163,218
down €163,218 (-73.9%), from €220,927 to €57,709
of which Distributable reserves: -€161,358
- Profit (loss) carried forward +€106,826
up €106,826, from -€106,826 to €0
- Debts after one year -€27,525
down €27,525 (-17.1%), from €161,344 to €133,820
- Gross operating margin -€17,618
down €17,618 (-1,172%), from -€1,504 to -€19,122
- Depreciation -€3,682
down €3,682 (-11.2%), from €32,945 to €29,263
- Financial charges -€1,239
down €1,239 (-29.5%), from €4,199 to €2,960
- Other operating charges +€255
up €255 (+5.3%), from €4,809 to €5,064
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 | €874,278 | €788,779 | -€85,499 | -9.8% |
| Fixed assets | 21/28 | €717,366 | €688,103 | -€29,263 | -4.1% |
| Tangible fixed assets | 22/27 | €717,366 | €688,103 | -€29,263 | -4.1% |
| Land and buildings | 22 | €682,860 | €657,552 | -€25,308 | -3.7% |
| Plant, machinery and equipment | 23 | €34,507 | €30,551 | -€3,955 | -11.5% |
| Current assets | 29/58 | €156,912 | €100,676 | -€56,235 | -35.8% |
| Amounts receivable within one year | 40/41 | €115,217 | €37,206 | -€78,011 | -67.7% |
| Trade receivables | 40 | €115,000 | €37,000 | -€78,000 | -67.8% |
| Other amounts receivable | 41 | €217 | €206 | -€11 | -5.1% |
| Cash at bank and in hand | 54/58 | €40,339 | €62,066 | +€21,727 | +53.9% |
| Deferred charges and accrued income | 490/1 | €1,356 | €1,404 | +€49 | +3.6% |
| Total equity and liabilities | 10/49 | €874,278 | €788,779 | -€85,499 | -9.8% |
| Equity | 10/15 | €132,701 | €76,309 | -€56,392 | -42.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €220,927 | €57,709 | -€163,218 | -73.9% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Tax-exempt reserves | 132 | €34,550 | €34,550 | = | 0.0% |
| Distributable reserves | 133 | €184,517 | €23,159 | -€161,358 | -87.4% |
| Profit (loss) carried forward | 14 | -€106,826 | €0 | +€106,826 | |
| Amounts payable | 17/49 | €741,577 | €712,470 | -€29,106 | -3.9% |
| Amounts payable after more than one year | 17 | €161,344 | €133,820 | -€27,525 | -17.1% |
| Financial debts | 170/4 | €161,344 | €133,820 | -€27,525 | -17.1% |
| Amounts payable within one year | 42/48 | €580,232 | €578,650 | -€1,582 | -0.3% |
| Current portion of amounts payable after more than one year | 42 | €27,131 | €27,525 | +€393 | +1.5% |
| Trade debts | 44 | €6,585 | €9,442 | +€2,856 | +43.4% |
| Suppliers | 440/4 | €6,585 | €9,442 | +€2,856 | +43.4% |
| Taxes, remuneration and social security | 45 | €11 | €28 | +€17 | +158% |
| Taxes | 450/3 | €11 | €28 | +€17 | +158% |
| Other amounts payable | 47/48 | €546,505 | €541,655 | -€4,849 | -0.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,945 | €29,263 | -€3,682 | -11.2% |
| Other operating charges | 640/8 | €4,809 | €5,064 | +€255 | +5.3% |
| Gross operating margin | 9900 | -€1,504 | -€19,122 | -€17,618 | -1,172% |
| Operating profit (loss) | 9901 | -€39,258 | -€53,448 | -€14,191 | -36.1% |
| Financial income | 75/76B | - | €17 | +€17 | |
| Recurring financial income | 75 | - | €17 | +€17 | |
| Financial charges | 65/66B | €4,199 | €2,960 | -€1,239 | -29.5% |
| Recurring financial charges | 65 | €4,199 | €2,960 | -€1,239 | -29.5% |
| Profit (loss) for the period before taxes | 9903 | -€43,457 | -€56,392 | -€12,935 | -29.8% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€43,457 | -€56,392 | -€12,935 | -29.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€43,457 | -€56,392 | -€12,935 | -29.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.