LAPINOCHE: 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.
LAPINOCHE
Largest movements
- Financial fixed assets +€1.5m
new in 2025: €1.5m
- Cash -€315,906
down €315,906 (-50.3%), from €628,628 to €312,722
mainly Investment in fixed assets (net) (-€1.5m) and Contributions, distributions and other (-€210,000)
- Tangible fixed assets -€62,881
down €62,881 (-9.4%), from €667,002 to €604,121
- Debts after one year +€908,717
up €908,717 (+217%), from €418,454 to €1.3m
- Profit (loss) carried forward +€137,863
up €137,863 (+20.1%), from €686,554 to €824,417
- Current portion of long-term debt +€130,519
up €130,519 (+75.4%), from €173,140 to €303,659
- Tax, wage and social debts -€66,105
down €66,105 (-60.8%), from €108,683 to €42,578
of which Taxes: -€36,144
- Gross operating margin -€124,180
down €124,180 (-10.5%), from €1.2m to €1.1m
- Staff costs -€33,360
down €33,360 (-8.1%), from €410,917 to €377,557
- Taxes -€20,076
down €20,076 (-14.3%), from €140,351 to €120,274
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 | €1,516,168 | €2,621,247 | +€1.1m | +72.9% |
| Fixed assets | 21/28 | €667,002 | €2,077,624 | +€1.4m | +211% |
| Tangible fixed assets | 22/27 | €667,002 | €604,121 | -€62,881 | -9.4% |
| Land and buildings | 22 | €549,472 | €522,736 | -€26,737 | -4.9% |
| Plant, machinery and equipment | 23 | €36,586 | €27,955 | -€8,631 | -23.6% |
| Furniture and vehicles | 24 | €28,484 | €20,431 | -€8,053 | -28.3% |
| Other tangible fixed assets | 26 | €52,459 | €32,999 | -€19,460 | -37.1% |
| Financial fixed assets | 28 | - | €1,473,503 | +€1.5m | |
| Current assets | 29/58 | €849,166 | €543,623 | -€305,543 | -36.0% |
| Stocks and contracts in progress | 3 | €8,372 | €6,286 | -€2,086 | -24.9% |
| Stocks | 30/36 | €8,372 | €6,286 | -€2,086 | -24.9% |
| Amounts receivable within one year | 40/41 | €198,256 | €219,431 | +€21,175 | +10.7% |
| Trade receivables | 40 | €70,689 | €40,967 | -€29,722 | -42.0% |
| Other amounts receivable | 41 | €127,567 | €178,464 | +€50,897 | +39.9% |
| Cash at bank and in hand | 54/58 | €628,628 | €312,722 | -€315,906 | -50.3% |
| Deferred charges and accrued income | 490/1 | €13,911 | €5,184 | -€8,727 | -62.7% |
| Total equity and liabilities | 10/49 | €1,516,168 | €2,621,247 | +€1.1m | +72.9% |
| Equity | 10/15 | €734,456 | €872,319 | +€137,863 | +18.8% |
| Contributions | 10/11 | €37,184 | €37,184 | = | 0.0% |
| Reserves | 13 | €10,718 | €10,718 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,718 | €3,718 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,718 | €3,718 | = | 0.0% |
| Distributable reserves | 133 | €7,000 | €7,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €686,554 | €824,417 | +€137,863 | +20.1% |
| Amounts payable | 17/49 | €781,712 | €1,748,928 | +€967,216 | +124% |
| Amounts payable after more than one year | 17 | €418,454 | €1,327,171 | +€908,717 | +217% |
| Financial debts | 170/4 | €418,454 | €1,327,171 | +€908,717 | +217% |
| Amounts payable within one year | 42/48 | €361,436 | €419,872 | +€58,435 | +16.2% |
| Current portion of amounts payable after more than one year | 42 | €173,140 | €303,659 | +€130,519 | +75.4% |
| Trade debts | 44 | €79,613 | €73,608 | -€6,005 | -7.5% |
| Suppliers | 440/4 | €79,613 | €73,608 | -€6,005 | -7.5% |
| Taxes, remuneration and social security | 45 | €108,683 | €42,578 | -€66,105 | -60.8% |
| Taxes | 450/3 | €42,349 | €6,205 | -€36,144 | -85.3% |
| Remuneration and social security | 454/9 | €66,334 | €36,373 | -€29,961 | -45.2% |
| Other amounts payable | 47/48 | - | €27 | +€27 | |
| Accrued charges and deferred income | 492/3 | €1,822 | €1,885 | +€63 | +3.5% |
| Remuneration, social security and pensions | 62 | €410,917 | €377,557 | -€33,360 | -8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,872 | €66,422 | -€1,450 | -2.1% |
| Other operating charges | 640/8 | €89,585 | €91,863 | +€2,278 | +2.5% |
| Non-recurring operating charges | 66A | €8,598 | - | -€8,598 | |
| Gross operating margin | 9900 | €1,184,239 | €1,060,058 | -€124,180 | -10.5% |
| Operating profit (loss) | 9901 | €607,267 | €524,216 | -€83,051 | -13.7% |
| Financial income | 75/76B | €1,554 | €2,918 | +€1,364 | +87.8% |
| Recurring financial income | 75 | €1,554 | €2,918 | +€1,364 | +87.8% |
| Financial charges | 65/66B | €59,341 | €58,997 | -€344 | -0.6% |
| Recurring financial charges | 65 | €59,341 | €58,997 | -€344 | -0.6% |
| Profit (loss) for the period before taxes | 9903 | €549,480 | €468,138 | -€81,343 | -14.8% |
| Income taxes | 67/77 | €140,351 | €120,274 | -€20,076 | -14.3% |
| Profit (loss) for the period | 9904 | €409,130 | €347,863 | -€61,266 | -15.0% |
| Profit (loss) for the period to be appropriated | 9905 | €409,130 | €347,863 | -€61,266 | -15.0% |
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 14 October 2026 via checked.be.