LAFIL: what changed
LAFIL
Largest movements
- Tangible fixed assets +€447,218
up €447,218 (+74.1%), from €603,289 to €1.1m
of which Land and buildings: +€449,950
- Cash -€90,009
down €90,009 (-81.0%), from €111,099 to €21,090
mainly Investment in fixed assets (net) (-€511,231) and Trade debts (-€2,099)
- Debts after one year +€252,720
up €252,720 (+55.2%), from €458,125 to €710,845
- Other debts +€50,000
up €50,000 (+1,393%), from €3,590 to €53,590
- Current portion of long-term debt +€26,640
up €26,640 (+145%), from €18,420 to €45,060
- Reserves +€24,988
up €24,988 (+11.6%), from €216,113 to €241,101
of which Distributable reserves: +€24,988
- Depreciation +€33,029
up €33,029 (+107%), from €30,985 to €64,014
- Gross operating margin +€23,330
up €23,330 (+26.2%), from €89,096 to €112,426
- Other operating charges -€12,314
down €12,314 (-88.6%), from €13,906 to €1,592
- Financial charges -€5,176
down €5,176 (-24.8%), from €20,833 to €15,657
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €723,434 | €1,074,644 | +€351,210 | +48.5% |
| Fixed assets | 21/28 | €603,289 | €1,050,507 | +€447,218 | +74.1% |
| Tangible fixed assets | 22/27 | €603,289 | €1,050,507 | +€447,218 | +74.1% |
| Land and buildings | 22 | €600,553 | €1,050,503 | +€449,950 | +74.9% |
| Plant, machinery and equipment | 23 | €2,736 | €3 | -€2,733 | -99.9% |
| Current assets | 29/58 | €120,145 | €24,137 | -€96,008 | -79.9% |
| Amounts receivable within one year | 40/41 | €7,102 | €1,547 | -€5,555 | -78.2% |
| Trade receivables | 40 | €0 | €847 | +€847 | |
| Other amounts receivable | 41 | €7,102 | €700 | -€6,401 | -90.1% |
| Cash at bank and in hand | 54/58 | €111,099 | €21,090 | -€90,009 | -81.0% |
| Deferred charges and accrued income | 490/1 | €1,944 | €1,500 | -€444 | -22.8% |
| Total equity and liabilities | 10/49 | €723,434 | €1,074,644 | +€351,210 | +48.5% |
| Equity | 10/15 | €236,113 | €261,101 | +€24,988 | +10.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €216,113 | €241,101 | +€24,988 | +11.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €216,113 | €241,101 | +€24,988 | +11.6% |
| Amounts payable | 17/49 | €487,321 | €813,542 | +€326,221 | +66.9% |
| Amounts payable after more than one year | 17 | €458,125 | €710,845 | +€252,720 | +55.2% |
| Financial debts | 170/4 | €458,125 | €710,845 | +€252,720 | +55.2% |
| Amounts payable within one year | 42/48 | €28,908 | €102,409 | +€73,501 | +254% |
| Current portion of amounts payable after more than one year | 42 | €18,420 | €45,060 | +€26,640 | +145% |
| Trade debts | 44 | €2,143 | €44 | -€2,099 | -98.0% |
| Suppliers | 440/4 | €2,143 | €44 | -€2,099 | -98.0% |
| Taxes, remuneration and social security | 45 | €4,755 | €3,715 | -€1,040 | -21.9% |
| Taxes | 450/3 | €4,755 | €3,715 | -€1,040 | -21.9% |
| Other amounts payable | 47/48 | €3,590 | €53,590 | +€50,000 | +1,393% |
| Accrued charges and deferred income | 492/3 | €288 | €288 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,985 | €64,014 | +€33,029 | +107% |
| Other operating charges | 640/8 | €13,906 | €1,592 | -€12,314 | -88.6% |
| Gross operating margin | 9900 | €89,096 | €112,426 | +€23,330 | +26.2% |
| Operating profit (loss) | 9901 | €44,205 | €46,820 | +€2,616 | +5.9% |
| Financial income | 75/76B | €121 | €625 | +€504 | +416% |
| Recurring financial income | 75 | €121 | €625 | +€504 | +416% |
| Financial charges | 65/66B | €20,833 | €15,657 | -€5,176 | -24.8% |
| Recurring financial charges | 65 | €20,833 | €15,657 | -€5,176 | -24.8% |
| Profit (loss) for the period before taxes | 9903 | €23,493 | €31,788 | +€8,295 | +35.3% |
| Income taxes | 67/77 | €7,772 | €6,800 | -€972 | -12.5% |
| Profit (loss) for the period | 9904 | €15,721 | €24,988 | +€9,267 | +58.9% |
| Profit (loss) for the period to be appropriated | 9905 | €15,721 | €24,988 | +€9,267 | +58.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.