LAIRE ETIENNE: 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.
LAIRE ETIENNE
Largest movements
- Receivables within one year -€45,342
down €45,342 (-53.7%), from €84,393 to €39,051
of which Trade receivables: -€47,338
- Cash -€41,997
down €41,997 (-18.4%), from €228,427 to €186,430
mainly Trade debts (-€41,935) and Stocks and contracts (-€36,574)
- Stocks and contracts +€36,574
up €36,574 (+184%), from €19,895 to €56,469
- Tangible fixed assets -€4,543
down €4,543 (-17.1%), from €26,580 to €22,036
of which Plant, machinery and equipment: -€2,304
- Trade debts -€41,935
down €41,935 (-93.1%), from €45,026 to €3,091
- Profit (loss) carried forward -€16,690
down €16,690 (-130%), from -€12,868 to -€29,558
- Other debts +€3,749
up €3,749 (+2.7%), from €138,825 to €142,574
- Gross operating margin -€283,785
down €283,785 (-94.9%), from €298,883 to €15,098
- Taxes -€15,758
no longer reported in 2025 (was €15,758)
- Staff costs -€7,119
down €7,119 (-25.2%), from €28,304 to €21,185
- Other operating charges -€3,328
down €3,328 (-66.5%), from €5,004 to €1,676
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 | €362,340 | €305,872 | -€56,468 | -15.6% |
| Fixed assets | 21/28 | €26,598 | €22,055 | -€4,543 | -17.1% |
| Tangible fixed assets | 22/27 | €26,580 | €22,036 | -€4,543 | -17.1% |
| Plant, machinery and equipment | 23 | €21,507 | €19,202 | -€2,304 | -10.7% |
| Furniture and vehicles | 24 | €5,073 | €2,834 | -€2,239 | -44.1% |
| Financial fixed assets | 28 | €19 | €19 | = | 0.0% |
| Current assets | 29/58 | €335,742 | €283,817 | -€51,925 | -15.5% |
| Stocks and contracts in progress | 3 | €19,895 | €56,469 | +€36,574 | +184% |
| Stocks | 30/36 | €19,895 | €56,469 | +€36,574 | +184% |
| Amounts receivable within one year | 40/41 | €84,393 | €39,051 | -€45,342 | -53.7% |
| Trade receivables | 40 | €83,036 | €35,698 | -€47,338 | -57.0% |
| Other amounts receivable | 41 | €1,357 | €3,353 | +€1,996 | +147% |
| Cash at bank and in hand | 54/58 | €228,427 | €186,430 | -€41,997 | -18.4% |
| Deferred charges and accrued income | 490/1 | €3,027 | €1,867 | -€1,160 | -38.3% |
| Total equity and liabilities | 10/49 | €362,340 | €305,872 | -€56,468 | -15.6% |
| Equity | 10/15 | €159,616 | €142,926 | -€16,690 | -10.5% |
| Contributions | 10/11 | €166,089 | €166,089 | = | 0.0% |
| Capital | 10 | €166,089 | €166,089 | = | 0.0% |
| Issued capital | 100 | €166,089 | €166,089 | = | 0.0% |
| Reserves | 13 | €6,396 | €6,396 | = | 0.0% |
| Non-distributable reserves | 130/1 | €185 | €185 | = | 0.0% |
| Legal reserve | 130 | €185 | €185 | = | 0.0% |
| Distributable reserves | 133 | €6,211 | €6,211 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,868 | -€29,558 | -€16,690 | -130% |
| Amounts payable | 17/49 | €202,724 | €162,946 | -€39,778 | -19.6% |
| Amounts payable within one year | 42/48 | €202,724 | €162,946 | -€39,778 | -19.6% |
| Trade debts | 44 | €45,026 | €3,091 | -€41,935 | -93.1% |
| Suppliers | 440/4 | €45,026 | €3,091 | -€41,935 | -93.1% |
| Taxes, remuneration and social security | 45 | €18,873 | €17,281 | -€1,592 | -8.4% |
| Taxes | 450/3 | €15,758 | €15,758 | = | 0.0% |
| Remuneration and social security | 454/9 | €3,115 | €1,523 | -€1,592 | -51.1% |
| Other amounts payable | 47/48 | €138,825 | €142,574 | +€3,749 | +2.7% |
| Remuneration, social security and pensions | 62 | €28,304 | €21,185 | -€7,119 | -25.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,200 | €8,289 | +€1,089 | +15.1% |
| Other operating charges | 640/8 | €5,004 | €1,676 | -€3,328 | -66.5% |
| Gross operating margin | 9900 | €298,883 | €15,098 | -€283,785 | -94.9% |
| Operating profit (loss) | 9901 | €258,376 | -€16,052 | -€274,427 | |
| Financial income | 75/76B | €125 | €170 | +€45 | +35.7% |
| Recurring financial income | 75 | €125 | €170 | +€45 | +35.7% |
| Financial charges | 65/66B | €609 | €808 | +€199 | +32.6% |
| Recurring financial charges | 65 | €609 | €808 | +€199 | +32.6% |
| Profit (loss) for the period before taxes | 9903 | €257,892 | -€16,690 | -€274,581 | |
| Income taxes | 67/77 | €15,758 | - | -€15,758 | |
| Profit (loss) for the period | 9904 | €242,134 | -€16,690 | -€258,824 | |
| Profit (loss) for the period to be appropriated | 9905 | €242,134 | -€16,690 | -€258,824 |
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 20 October 2026 via checked.be.