LAPIS: 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.
LAPIS
Largest movements
- Stocks and contracts +€5.2m
up €5.2m (+31.8%), from €16.5m to €21.7m
- Receivables within one year +€3.2m
up €3.2m (+120.9%), from €2.6m to €5.8m
of which Trade receivables: +€1.9m
- Financial fixed assets +€2.3m
up €2.3m (+13926.1%), from €16,500 to €2.3m
- Cash +€912,547
up €912,547 (+46.0%), from €2.0m to €2.9m
mainly Advances received (+€9.1m) and Short-term financial debts (+€4.2m)
- Deferred charges and accrued income +€388,820
up €388,820 (+78.5%), from €495,553 to €884,373
- Advances received +€9.1m
up €9.1m (+191.4%), from €4.7m to €13.8m
- Short-term financial debts +€4.2m
up €4.2m (+44.7%), from €9.5m to €13.7m
of which Credit institutions: +€5.9m
- Other debts -€1.9m
down €1.9m (-46.2%), from €4.0m to €2.2m
- Accrued charges and deferred income +€410,738
up €410,738 (+27.6%), from €1.5m to €1.9m
- Gross operating margin +€434,841
up €434,841 (+92.3%), from €470,980 to €905,821
- Taxes +€112,203
up €112,203 (+94.9%), from €118,185 to €230,388
- Financial income -€14,045
down €14,045 (-90.2%), from €15,577 to €1,532
- Other operating charges -€13,422
down €13,422 (-24.0%), from €55,929 to €42,507
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 | €21,623,823 | €33,662,439 | +€12.0m | +55.7% |
| Fixed assets | 21/28 | €16,500 | €2,314,312 | +€2.3m | +13926.1% |
| Financial fixed assets | 28 | €16,500 | €2,314,312 | +€2.3m | +13926.1% |
| Current assets | 29/58 | €21,607,323 | €31,348,126 | +€9.7m | +45.1% |
| Stocks and contracts in progress | 3 | €16,479,353 | €21,718,835 | +€5.2m | +31.8% |
| Stocks | 30/36 | €16,479,353 | €21,718,835 | +€5.2m | +31.8% |
| Amounts receivable within one year | 40/41 | €2,647,819 | €5,847,773 | +€3.2m | +120.9% |
| Trade receivables | 40 | €252,350 | €2,134,194 | +€1.9m | +745.7% |
| Other amounts receivable | 41 | €2,395,469 | €3,713,579 | +€1.3m | +55.0% |
| Cash at bank and in hand | 54/58 | €1,984,599 | €2,897,146 | +€912,547 | +46.0% |
| Deferred charges and accrued income | 490/1 | €495,553 | €884,373 | +€388,820 | +78.5% |
| Total equity and liabilities | 10/49 | €21,623,823 | €33,662,439 | +€12.0m | +55.7% |
| Equity | 10/15 | €377,284 | €698,996 | +€321,712 | +85.3% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €371,284 | €692,996 | +€321,712 | +86.6% |
| Amounts payable | 17/49 | €21,246,539 | €32,963,443 | +€11.7m | +55.1% |
| Amounts payable within one year | 42/48 | €19,757,005 | €31,063,170 | +€11.3m | +57.2% |
| Financial debts | 43 | €9,502,941 | €13,748,220 | +€4.2m | +44.7% |
| Credit institutions | 430/8 | €7,819,941 | €13,748,220 | +€5.9m | +75.8% |
| Other loans | 439 | €1,683,000 | - | -€1.7m | |
| Trade debts | 44 | €1,334,374 | €1,083,204 | -€251,170 | -18.8% |
| Suppliers | 440/4 | €1,334,374 | €1,083,204 | -€251,170 | -18.8% |
| Advances received on contracts in progress | 46 | €4,747,051 | €13,831,482 | +€9.1m | +191.4% |
| Taxes, remuneration and social security | 45 | €140,340 | €230,388 | +€90,047 | +64.2% |
| Taxes | 450/3 | €140,340 | €230,388 | +€90,047 | +64.2% |
| Other amounts payable | 47/48 | €4,032,298 | €2,169,876 | -€1.9m | -46.2% |
| Accrued charges and deferred income | 492/3 | €1,489,534 | €1,900,273 | +€410,738 | +27.6% |
| Other operating charges | 640/8 | €55,929 | €42,507 | -€13,422 | -24.0% |
| Gross operating margin | 9900 | €470,980 | €905,821 | +€434,841 | +92.3% |
| Operating profit (loss) | 9901 | €415,051 | €863,314 | +€448,263 | +108.0% |
| Financial income | 75/76B | €15,577 | €1,532 | -€14,045 | -90.2% |
| Recurring financial income | 75 | €15,577 | €1,532 | -€14,045 | -90.2% |
| Financial charges | 65/66B | €2,022 | €1,566 | -€456 | -22.6% |
| Recurring financial charges | 65 | €2,022 | €1,566 | -€456 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | €428,606 | €863,280 | +€434,674 | +101.4% |
| Income taxes | 67/77 | €118,185 | €230,388 | +€112,203 | +94.9% |
| Profit (loss) for the period | 9904 | €310,421 | €632,892 | +€322,471 | +103.9% |
| Profit (loss) for the period to be appropriated | 9905 | €310,421 | €632,892 | +€322,471 | +103.9% |
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 5 October 2026 via checked.be.