LAJ³: 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.
LAJ³
Largest movements
- Tangible fixed assets -€9,592
down €9,592 (-2.3%), from €423,350 to €413,758
of which Land and buildings: -€19,784
- Cash -€7,245
down €7,245 (-49.9%), from €14,533 to €7,287
mainly Debts after one year (-€48,971) and Investment in fixed assets (net) (-€15,667)
- Debts after one year -€48,971
down €48,971 (-18.2%), from €268,483 to €219,512
- Reserves +€34,296
up €34,296 (+161.7%), from €21,206 to €55,502
- Tax, wage and social debts -€6,220
down €6,220 (-18.9%), from €32,953 to €26,733
of which Taxes: -€6,220
- Current portion of long-term debt +€5,635
up €5,635 (+11.5%), from €49,131 to €54,766
- Gross operating margin +€36,623
up €36,623 (+49.4%), from €74,139 to €110,762
- Taxes +€10,701
up €10,701 (+77.2%), from €13,854 to €24,555
- Financial charges -€2,810
down €2,810 (-14.3%), from €19,631 to €16,820
- Depreciation +€1,410
up €1,410 (+5.9%), from €23,849 to €25,259
- Other operating charges -€1,249
down €1,249 (-25.0%), from €4,992 to €3,743
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 | €458,409 | €443,881 | -€14,528 | -3.2% |
| Fixed assets | 21/28 | €423,350 | €413,758 | -€9,592 | -2.3% |
| Tangible fixed assets | 22/27 | €423,350 | €413,758 | -€9,592 | -2.3% |
| Land and buildings | 22 | €410,744 | €390,960 | -€19,784 | -4.8% |
| Plant, machinery and equipment | 23 | €1,272 | €3,293 | +€2,022 | +159.0% |
| Furniture and vehicles | 24 | €11,335 | €19,505 | +€8,170 | +72.1% |
| Current assets | 29/58 | €35,059 | €30,123 | -€4,936 | -14.1% |
| Stocks and contracts in progress | 3 | - | €650 | +€650 | |
| Stocks | 30/36 | - | €650 | +€650 | |
| Amounts receivable within one year | 40/41 | €16,749 | €20,550 | +€3,801 | +22.7% |
| Trade receivables | 40 | €16,744 | €20,545 | +€3,801 | +22.7% |
| Other amounts receivable | 41 | €5 | €5 | +€0 | +3.3% |
| Cash at bank and in hand | 54/58 | €14,533 | €7,287 | -€7,245 | -49.9% |
| Deferred charges and accrued income | 490/1 | €3,777 | €1,635 | -€2,142 | -56.7% |
| Total equity and liabilities | 10/49 | €458,409 | €443,881 | -€14,528 | -3.2% |
| Equity | 10/15 | €21,206 | €55,502 | +€34,296 | +161.7% |
| Reserves | 13 | €21,206 | €55,502 | +€34,296 | +161.7% |
| Distributable reserves | 133 | €21,206 | €55,502 | +€34,296 | +161.7% |
| Profit (loss) carried forward | 14 | €0 | - | -€0 | |
| Amounts payable | 17/49 | €437,203 | €388,379 | -€48,824 | -11.2% |
| Amounts payable after more than one year | 17 | €268,483 | €219,512 | -€48,971 | -18.2% |
| Financial debts | 170/4 | €268,483 | €219,512 | -€48,971 | -18.2% |
| Amounts payable within one year | 42/48 | €168,720 | €168,867 | +€147 | +0.1% |
| Current portion of amounts payable after more than one year | 42 | €49,131 | €54,766 | +€5,635 | +11.5% |
| Trade debts | 44 | €5,370 | €2,041 | -€3,330 | -62.0% |
| Suppliers | 440/4 | €5,370 | €2,041 | -€3,330 | -62.0% |
| Taxes, remuneration and social security | 45 | €32,953 | €26,733 | -€6,220 | -18.9% |
| Taxes | 450/3 | €30,953 | €24,733 | -€6,220 | -20.1% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €81,266 | €85,327 | +€4,061 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,849 | €25,259 | +€1,410 | +5.9% |
| Other operating charges | 640/8 | €4,992 | €3,743 | -€1,249 | -25.0% |
| Gross operating margin | 9900 | €74,139 | €110,762 | +€36,623 | +49.4% |
| Operating profit (loss) | 9901 | €45,299 | €81,760 | +€36,461 | +80.5% |
| Financial income | 75/76B | - | €250 | +€250 | |
| Recurring financial income | 75 | - | €250 | +€250 | |
| Non-recurring financial income | 76B | - | €250 | +€250 | |
| Financial charges | 65/66B | €19,631 | €16,820 | -€2,810 | -14.3% |
| Recurring financial charges | 65 | €19,631 | €16,820 | -€2,810 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €25,668 | €65,190 | +€39,522 | +154.0% |
| Income taxes | 67/77 | €13,854 | €24,555 | +€10,701 | +77.2% |
| Profit (loss) for the period | 9904 | €11,815 | €40,635 | +€28,820 | +243.9% |
| Profit (loss) for the period to be appropriated | 9905 | €11,815 | €40,635 | +€28,820 | +243.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.