LAPIS: 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.
LAPIS
Largest movements
- Tangible fixed assets +€90,514
up €90,514 (+14.8%), from €611,584 to €702,097
of which Land and buildings: +€91,996
- Receivables within one year -€73,253
down €73,253 (-71.8%), from €101,982 to €28,729
of which Trade receivables: -€72,596
- Cash +€36,646
up €36,646 (+35.7%), from €102,520 to €139,166
mainly Net result for the year (+€89,496) and Receivables within one year (+€73,253)
- Reserves +€89,496
up €89,496 (+17.3%), from €518,642 to €608,138
- Debts after one year -€24,980
down €24,980 (-10.8%), from €231,313 to €206,333
- Tax, wage and social debts -€11,179
down €11,179 (-32.6%), from €34,311 to €23,132
of which Taxes: -€6,179
- Gross operating margin +€23,503
up €23,503 (+17.1%), from €137,609 to €161,112
- Taxes +€8,779
up €8,779 (+31.8%), from €27,584 to €36,362
- Depreciation +€3,820
up €3,820 (+22.6%), from €16,868 to €20,689
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 | €816,885 | €870,792 | +€53,907 | +6.6% |
| Fixed assets | 21/28 | €612,384 | €702,897 | +€90,514 | +14.8% |
| Tangible fixed assets | 22/27 | €611,584 | €702,097 | +€90,514 | +14.8% |
| Land and buildings | 22 | €604,989 | €696,985 | +€91,996 | +15.2% |
| Plant, machinery and equipment | 23 | €4,147 | €3,587 | -€559 | -13.5% |
| Furniture and vehicles | 24 | €2,448 | €1,525 | -€923 | -37.7% |
| Financial fixed assets | 28 | €800 | €800 | = | 0.0% |
| Current assets | 29/58 | €204,501 | €167,895 | -€36,606 | -17.9% |
| Amounts receivable within one year | 40/41 | €101,982 | €28,729 | -€73,253 | -71.8% |
| Trade receivables | 40 | €98,332 | €25,736 | -€72,596 | -73.8% |
| Other amounts receivable | 41 | €3,650 | €2,993 | -€657 | -18.0% |
| Cash at bank and in hand | 54/58 | €102,520 | €139,166 | +€36,646 | +35.7% |
| Total equity and liabilities | 10/49 | €816,885 | €870,792 | +€53,907 | +6.6% |
| Equity | 10/15 | €524,842 | €614,338 | +€89,496 | +17.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €518,642 | €608,138 | +€89,496 | +17.3% |
| Distributable reserves | 133 | €518,642 | €608,138 | +€89,496 | +17.3% |
| Amounts payable | 17/49 | €292,043 | €256,454 | -€35,589 | -12.2% |
| Amounts payable after more than one year | 17 | €231,313 | €206,333 | -€24,980 | -10.8% |
| Financial debts | 170/4 | €231,313 | €206,333 | -€24,980 | -10.8% |
| Amounts payable within one year | 42/48 | €60,429 | €49,821 | -€10,609 | -17.6% |
| Current portion of amounts payable after more than one year | 42 | €24,530 | €24,980 | +€450 | +1.8% |
| Trade debts | 44 | €1,588 | €1,709 | +€121 | +7.6% |
| Suppliers | 440/4 | €1,588 | €1,709 | +€121 | +7.6% |
| Taxes, remuneration and social security | 45 | €34,311 | €23,132 | -€11,179 | -32.6% |
| Taxes | 450/3 | €29,311 | €23,132 | -€6,179 | -21.1% |
| Remuneration and social security | 454/9 | €5,000 | €0 | -€5,000 | -100.0% |
| Accrued charges and deferred income | 492/3 | €300 | €300 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,868 | €20,689 | +€3,820 | +22.6% |
| Other operating charges | 640/8 | €8,054 | €8,559 | +€504 | +6.3% |
| Gross operating margin | 9900 | €137,609 | €161,112 | +€23,503 | +17.1% |
| Operating profit (loss) | 9901 | €112,686 | €131,864 | +€19,178 | +17.0% |
| Financial income | 75/76B | €625 | €0 | -€625 | -100.0% |
| Recurring financial income | 75 | €625 | €0 | -€625 | -100.0% |
| Financial charges | 65/66B | €6,519 | €6,006 | -€513 | -7.9% |
| Recurring financial charges | 65 | €6,519 | €6,006 | -€513 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | €106,792 | €125,858 | +€19,066 | +17.9% |
| Income taxes | 67/77 | €27,584 | €36,362 | +€8,779 | +31.8% |
| Profit (loss) for the period | 9904 | €79,209 | €89,496 | +€10,287 | +13.0% |
| Profit (loss) for the period to be appropriated | 9905 | €79,209 | €89,496 | +€10,287 | +13.0% |
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 11 October 2026 via checked.be.