Laghman express: 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.
Laghman express
Largest movements
- Receivables within one year -€38,216
down €38,216 (-50.6%), from €75,578 to €37,362
of which Trade receivables: -€61,883
- Tangible fixed assets +€6,355
up €6,355 (+92.9%), from €6,837 to €13,191
of which Furniture and vehicles: +€9,021
- Cash +€5,339
up €5,339 (+606.3%), from €881 to €6,220
mainly Receivables within one year (+€38,216) and Net result for the year (+€12,258)
- Trade debts -€48,556
down €48,556 (-80.1%), from €60,582 to €12,026
- Profit (loss) carried forward +€12,258
up €12,258 (+10.0%), from €122,520 to €134,778
- Tax, wage and social debts +€8,664
up €8,664 (+111.2%), from €7,793 to €16,457
of which Taxes: +€4,706
- Gross operating margin +€17,993
up €17,993 (+51.8%), from €34,705 to €52,698
- Staff costs +€14,610
up €14,610 (+755.5%), from €1,934 to €16,544
- Depreciation +€3,007
up €3,007 (+112.8%), from €2,666 to €5,673
- Financial charges +€541
up €541 (+7.7%), from €7,026 to €7,567
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €198,955 | €171,321 | -€27,634 | -13.9% |
| Fixed assets | 21/28 | €11,781 | €18,135 | +€6,355 | +53.9% |
| Tangible fixed assets | 22/27 | €6,837 | €13,191 | +€6,355 | +92.9% |
| Furniture and vehicles | 24 | - | €9,021 | +€9,021 | |
| Other tangible fixed assets | 26 | €6,837 | €4,171 | -€2,666 | -39.0% |
| Financial fixed assets | 28 | €4,944 | €4,944 | = | 0.0% |
| Current assets | 29/58 | €187,175 | €153,186 | -€33,989 | -18.2% |
| Stocks and contracts in progress | 3 | €110,503 | €109,384 | -€1,119 | -1.0% |
| Stocks | 30/36 | €110,503 | €109,384 | -€1,119 | -1.0% |
| Amounts receivable within one year | 40/41 | €75,578 | €37,362 | -€38,216 | -50.6% |
| Trade receivables | 40 | €61,883 | - | -€61,883 | |
| Other amounts receivable | 41 | €13,695 | €37,362 | +€23,667 | +172.8% |
| Cash at bank and in hand | 54/58 | €881 | €6,220 | +€5,339 | +606.3% |
| Deferred charges and accrued income | 490/1 | €213 | €220 | +€7 | +3.4% |
| Total equity and liabilities | 10/49 | €198,955 | €171,321 | -€27,634 | -13.9% |
| Equity | 10/15 | €130,580 | €142,838 | +€12,258 | +9.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €122,520 | €134,778 | +€12,258 | +10.0% |
| Amounts payable | 17/49 | €68,375 | €28,483 | -€39,892 | -58.3% |
| Amounts payable within one year | 42/48 | €68,375 | €28,483 | -€39,892 | -58.3% |
| Trade debts | 44 | €60,582 | €12,026 | -€48,556 | -80.1% |
| Suppliers | 440/4 | €60,582 | €12,026 | -€48,556 | -80.1% |
| Taxes, remuneration and social security | 45 | €7,793 | €16,457 | +€8,664 | +111.2% |
| Taxes | 450/3 | €6,784 | €11,491 | +€4,706 | +69.4% |
| Remuneration and social security | 454/9 | €1,009 | €4,966 | +€3,957 | +392.3% |
| Remuneration, social security and pensions | 62 | €1,934 | €16,544 | +€14,610 | +755.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,666 | €5,673 | +€3,007 | +112.8% |
| Other operating charges | 640/8 | €4,680 | €5,187 | +€507 | +10.8% |
| Gross operating margin | 9900 | €34,705 | €52,698 | +€17,993 | +51.8% |
| Operating profit (loss) | 9901 | €25,425 | €25,294 | -€131 | -0.5% |
| Financial income | 75/76B | €0 | €29 | +€29 | +14365.0% |
| Recurring financial income | 75 | €0 | €29 | +€29 | +14365.0% |
| Financial charges | 65/66B | €7,026 | €7,567 | +€541 | +7.7% |
| Recurring financial charges | 65 | €7,026 | €7,567 | +€541 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | €18,399 | €17,755 | -€644 | -3.5% |
| Income taxes | 67/77 | €6,007 | €5,497 | -€511 | -8.5% |
| Profit (loss) for the period | 9904 | €12,392 | €12,258 | -€133 | -1.1% |
| Profit (loss) for the period to be appropriated | 9905 | €12,392 | €12,258 | -€133 | -1.1% |
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 11 October 2026 via checked.be.