LAMORAAL: 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.
LAMORAAL
Largest movements
- Current investments +€250,903
up €250,903 (+39.0%), from €643,536 to €894,439
- Cash -€209,226
down €209,226 (-72.9%), from €286,850 to €77,624
mainly Current investments (-€250,903) and Other debts (-€50,820)
- Tangible fixed assets -€61,957
down €61,957 (-6.5%), from €948,802 to €886,846
of which Plant, machinery and equipment: -€31,412
- Debts after one year +€71,842
up €71,842 (+343.3%), from €20,924 to €92,766
of which Other amounts payable: +€89,763
- Other debts -€50,820
down €50,820 (-42.2%), from €120,315 to €69,495
- Gross operating margin -€91,894
down €91,894 (-12.1%), from €760,219 to €668,326
- Depreciation -€40,356
down €40,356 (-35.0%), from €115,431 to €75,075
- Taxes -€22,519
down €22,519 (-72.5%), from €31,079 to €8,560
- Financial charges +€13,736
up €13,736 (+42.4%), from €32,432 to €46,168
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 | €2,164,404 | €2,150,561 | -€13,843 | -0.6% |
| Fixed assets | 21/28 | €959,711 | €897,971 | -€61,739 | -6.4% |
| Tangible fixed assets | 22/27 | €948,802 | €886,846 | -€61,957 | -6.5% |
| Land and buildings | 22 | €708,745 | €702,977 | -€5,768 | -0.8% |
| Plant, machinery and equipment | 23 | €178,296 | €146,885 | -€31,412 | -17.6% |
| Furniture and vehicles | 24 | €5,300 | - | -€5,300 | |
| Other tangible fixed assets | 26 | €56,461 | €36,984 | -€19,477 | -34.5% |
| Financial fixed assets | 28 | €10,908 | €11,126 | +€217 | +2.0% |
| Current assets | 29/58 | €1,204,694 | €1,252,590 | +€47,896 | +4.0% |
| Stocks and contracts in progress | 3 | €192,801 | €196,996 | +€4,195 | +2.2% |
| Stocks | 30/36 | €192,801 | €196,996 | +€4,195 | +2.2% |
| Amounts receivable within one year | 40/41 | €17,293 | €27,792 | +€10,499 | +60.7% |
| Trade receivables | 40 | €3,358 | €2,876 | -€482 | -14.4% |
| Other amounts receivable | 41 | €13,935 | €24,916 | +€10,981 | +78.8% |
| Current investments | 50/53 | €643,536 | €894,439 | +€250,903 | +39.0% |
| Cash at bank and in hand | 54/58 | €286,850 | €77,624 | -€209,226 | -72.9% |
| Deferred charges and accrued income | 490/1 | €64,213 | €55,739 | -€8,475 | -13.2% |
| Total equity and liabilities | 10/49 | €2,164,404 | €2,150,561 | -€13,843 | -0.6% |
| Equity | 10/15 | €1,869,132 | €1,883,208 | +€14,077 | +0.8% |
| Contributions | 10/11 | €254,571 | €254,571 | = | 0.0% |
| Reserves | 13 | €1,614,560 | €1,628,637 | +€14,077 | +0.9% |
| Distributable reserves | 133 | €1,614,560 | €1,628,637 | +€14,077 | +0.9% |
| Amounts payable | 17/49 | €295,273 | €267,353 | -€27,920 | -9.5% |
| Amounts payable after more than one year | 17 | €20,924 | €92,766 | +€71,842 | +343.3% |
| Financial debts | 170/4 | €20,924 | €3,004 | -€17,921 | -85.6% |
| Other amounts payable | 178/9 | - | €89,763 | +€89,763 | |
| Amounts payable within one year | 42/48 | €247,355 | €154,574 | -€92,780 | -37.5% |
| Current portion of amounts payable after more than one year | 42 | €35,650 | €17,921 | -€17,730 | -49.7% |
| Trade debts | 44 | €26,867 | €13,286 | -€13,581 | -50.5% |
| Suppliers | 440/4 | €26,867 | €13,286 | -€13,581 | -50.5% |
| Taxes, remuneration and social security | 45 | €64,523 | €53,873 | -€10,650 | -16.5% |
| Taxes | 450/3 | €16,041 | €4,196 | -€11,844 | -73.8% |
| Remuneration and social security | 454/9 | €48,482 | €49,677 | +€1,195 | +2.5% |
| Other amounts payable | 47/48 | €120,315 | €69,495 | -€50,820 | -42.2% |
| Accrued charges and deferred income | 492/3 | €26,994 | €20,012 | -€6,982 | -25.9% |
| Non-recurring operating income | 76A | €48,000 | €12,000 | -€36,000 | -75.0% |
| Remuneration, social security and pensions | 62 | €517,991 | €523,775 | +€5,784 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115,431 | €75,075 | -€40,356 | -35.0% |
| Other operating charges | 640/8 | €29,199 | €29,323 | +€124 | +0.4% |
| Gross operating margin | 9900 | €760,219 | €668,326 | -€91,894 | -12.1% |
| Operating profit (loss) | 9901 | €97,598 | €40,152 | -€57,445 | -58.9% |
| Financial income | 75/76B | €25,764 | €28,652 | +€2,888 | +11.2% |
| Recurring financial income | 75 | €25,764 | €28,652 | +€2,888 | +11.2% |
| Financial charges | 65/66B | €32,432 | €46,168 | +€13,736 | +42.4% |
| Recurring financial charges | 65 | €32,432 | €46,168 | +€13,736 | +42.4% |
| Profit (loss) for the period before taxes | 9903 | €90,930 | €22,637 | -€68,293 | -75.1% |
| Income taxes | 67/77 | €31,079 | €8,560 | -€22,519 | -72.5% |
| Profit (loss) for the period | 9904 | €59,850 | €14,077 | -€45,774 | -76.5% |
| Profit (loss) for the period to be appropriated | 9905 | €59,850 | €14,077 | -€45,774 | -76.5% |
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 9 October 2026 via checked.be.