Lamaire: 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.
What changed
Lamaire
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€4,672
2024 · €7,547-€12,219
Equity
€804,072
2024 · €808,744-€4,672
Cash
€54,057
2024 · €47,160+€6,897
Balance sheet total
€1.2m
2024 · €1.2m-€22,141
Largest movements
Assets
- Current investments -€41,178
down €41,178 (-8.8%), from €467,000 to €425,822
Equity and liabilities
- Debts after one year -€32,010
down €32,010 (-9.4%), from €341,251 to €309,241
Income statement
- Gross operating margin -€28,726
down €28,726 (-80.4%), from €35,740 to €7,014
- Financial income +€18,335
up €18,335 (+356%), from €5,149 to €23,484
of which Financial income: +€11,624
- Taxes +€12,135
up €12,135 (+4,349%), from €279 to €12,414
- Depreciation -€9,685
down €9,685 (-41.9%), from €23,103 to €13,418
- Financial charges -€476
down €476 (-7.2%), from €6,596 to €6,120
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.
Result 2024
€7,547
Gross operating margin
-€28,726
Depreciation
+€9,685
Other operating charges
+€146
Financial income
+€18,335
Financial charges
+€476
Taxes
-€12,135
Result 2025
-€4,672
raises the resultlowers the result
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.
From operations
+€16,273
Investment
+€22,126
Financing
-€31,502
Cash 2024
€47,160
From operations (derived)
+€16,273
Net result for the year
-€4,672
Depreciation
+€13,418
Receivables within one year
-€9,872
Deferred charges and accrued income
+€3,366
Trade debts
+€2,126
Tax, wage and social debts
+€12,086
Other debts
+€1
Accrued charges and deferred income
-€180
Investment (derived)
+€22,126
Investment in fixed assets (net)
-€19,052
Current investments
+€41,178
Financing
-€31,502
Debts after one year
-€32,010
Current portion of long-term debt
+€508
Cash 2025
€54,057
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,233,575 | €1,211,434 | -€22,141 | -1.8% |
| Fixed assets | 21/28 | €501,102 | €506,736 | +€5,634 | +1.1% |
| Tangible fixed assets | 22/27 | €501,102 | €506,736 | +€5,634 | +1.1% |
| Land and buildings | 22 | €474,585 | €486,950 | +€12,365 | +2.6% |
| Plant, machinery and equipment | 23 | €899 | €608 | -€291 | -32.4% |
| Furniture and vehicles | 24 | €25,618 | €19,178 | -€6,440 | -25.1% |
| Current assets | 29/58 | €732,473 | €704,698 | -€27,775 | -3.8% |
| Amounts receivable within one year | 40/41 | €214,217 | €224,089 | +€9,872 | +4.6% |
| Trade receivables | 40 | €75,332 | €75,168 | -€164 | -0.2% |
| Other amounts receivable | 41 | €138,885 | €148,921 | +€10,036 | +7.2% |
| Current investments | 50/53 | €467,000 | €425,822 | -€41,178 | -8.8% |
| Cash at bank and in hand | 54/58 | €47,160 | €54,057 | +€6,897 | +14.6% |
| Deferred charges and accrued income | 490/1 | €4,096 | €730 | -€3,366 | -82.2% |
| Total equity and liabilities | 10/49 | €1,233,575 | €1,211,434 | -€22,141 | -1.8% |
| Equity | 10/15 | €808,744 | €804,072 | -€4,672 | -0.6% |
| Contributions | 10/11 | €471,000 | €471,000 | = | 0.0% |
| Capital | 10 | €471,000 | €471,000 | = | 0.0% |
| Issued capital | 100 | €471,000 | €471,000 | = | 0.0% |
| Reserves | 13 | €337,744 | €333,072 | -€4,672 | -1.4% |
| Non-distributable reserves | 130/1 | €47,100 | €47,100 | = | 0.0% |
| Legal reserve | 130 | €47,100 | €47,100 | = | 0.0% |
| Tax-exempt reserves | 132 | €259,385 | €254,397 | -€4,988 | -1.9% |
| Distributable reserves | 133 | €31,259 | €31,575 | +€316 | +1.0% |
| Amounts payable | 17/49 | €424,831 | €407,362 | -€17,469 | -4.1% |
| Amounts payable after more than one year | 17 | €341,251 | €309,241 | -€32,010 | -9.4% |
| Financial debts | 170/4 | €341,251 | €309,241 | -€32,010 | -9.4% |
| Amounts payable within one year | 42/48 | €82,098 | €96,819 | +€14,721 | +17.9% |
| Current portion of amounts payable after more than one year | 42 | €31,502 | €32,010 | +€508 | +1.6% |
| Trade debts | 44 | €47 | €2,173 | +€2,126 | +4,523% |
| Suppliers | 440/4 | €47 | €2,173 | +€2,126 | +4,523% |
| Taxes, remuneration and social security | 45 | €21 | €12,107 | +€12,086 | +57,552% |
| Taxes | 450/3 | €21 | €12,107 | +€12,086 | +57,552% |
| Other amounts payable | 47/48 | €50,528 | €50,529 | +€1 | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,482 | €1,302 | -€180 | -12.1% |
| Non-recurring operating income | 76A | €41,153 | €19,052 | -€22,101 | -53.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,103 | €13,418 | -€9,685 | -41.9% |
| Other operating charges | 640/8 | €3,364 | €3,218 | -€146 | -4.3% |
| Gross operating margin | 9900 | €35,740 | €7,014 | -€28,726 | -80.4% |
| Operating profit (loss) | 9901 | €9,273 | -€9,622 | -€18,895 | |
| Financial income | 75/76B | €5,149 | €23,484 | +€18,335 | +356% |
| Recurring financial income | 75 | €5,149 | €16,773 | +€11,624 | +226% |
| Non-recurring financial income | 76B | - | €6,711 | +€6,711 | |
| Financial charges | 65/66B | €6,596 | €6,120 | -€476 | -7.2% |
| Recurring financial charges | 65 | €6,596 | €6,120 | -€476 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €7,826 | €7,742 | -€84 | -1.1% |
| Income taxes | 67/77 | €279 | €12,414 | +€12,135 | +4,349% |
| Profit (loss) for the period | 9904 | €7,547 | -€4,672 | -€12,219 | |
| Transfer from tax-exempt reserves | 789 | €4,989 | €4,988 | -€1 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €12,536 | €316 | -€12,220 | -97.5% |
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.