LAPIS MANAGEMENT: 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 MANAGEMENT
Largest movements
- Receivables after one year -€65,000
no longer reported in 2025 (was €65,000)
- Tangible fixed assets +€22,800
new in 2025: €22,800
- Receivables within one year +€21,451
up €21,451 (+76.1%), from €28,180 to €49,631
of which Trade receivables: +€22,778
- Cash +€5,173
up €5,173 (+4.3%), from €120,848 to €126,020
mainly Net result for the year (+€74,156) and Receivables after one year (+€65,000)
- Other debts -€10,683
down €10,683 (-63.0%), from €16,959 to €6,276
- Reserves -€6,778
down €6,778 (-4.1%), from €166,739 to €159,961
- Gross operating margin +€69,873
up €69,873 (+208%), from €33,537 to €103,409
- Taxes +€19,372
up €19,372 (+190%), from €10,198 to €29,570
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 | €214,028 | €198,451 | -€15,577 | -7.3% |
| Fixed assets | 21/28 | - | €22,800 | +€22,800 | |
| Tangible fixed assets | 22/27 | - | €22,800 | +€22,800 | |
| Other tangible fixed assets | 26 | - | €22,800 | +€22,800 | |
| Current assets | 29/58 | €214,028 | €175,651 | -€38,377 | -17.9% |
| Amounts receivable after more than one year | 29 | €65,000 | - | -€65,000 | |
| Other amounts receivable | 291 | €65,000 | - | -€65,000 | |
| Amounts receivable within one year | 40/41 | €28,180 | €49,631 | +€21,451 | +76.1% |
| Trade receivables | 40 | €21,550 | €44,328 | +€22,778 | +106% |
| Other amounts receivable | 41 | €6,630 | €5,303 | -€1,328 | -20.0% |
| Cash at bank and in hand | 54/58 | €120,848 | €126,020 | +€5,173 | +4.3% |
| Total equity and liabilities | 10/49 | €214,028 | €198,451 | -€15,577 | -7.3% |
| Equity | 10/15 | €185,289 | €178,511 | -€6,778 | -3.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €166,739 | €159,961 | -€6,778 | -4.1% |
| Distributable reserves | 133 | €166,739 | €159,961 | -€6,778 | -4.1% |
| Amounts payable | 17/49 | €28,739 | €19,940 | -€8,798 | -30.6% |
| Amounts payable within one year | 42/48 | €28,637 | €19,666 | -€8,970 | -31.3% |
| Trade debts | 44 | €4,449 | €5,599 | +€1,150 | +25.9% |
| Suppliers | 440/4 | €4,449 | €5,599 | +€1,150 | +25.9% |
| Taxes, remuneration and social security | 45 | €7,229 | €7,791 | +€562 | +7.8% |
| Taxes | 450/3 | €7,229 | €5,231 | -€1,997 | -27.6% |
| Remuneration and social security | 454/9 | - | €2,560 | +€2,560 | |
| Other amounts payable | 47/48 | €16,959 | €6,276 | -€10,683 | -63.0% |
| Accrued charges and deferred income | 492/3 | €102 | €274 | +€172 | +168% |
| Other operating charges | 640/8 | €592 | €610 | +€18 | +3.0% |
| Gross operating margin | 9900 | €33,537 | €103,409 | +€69,873 | +208% |
| Operating profit (loss) | 9901 | €32,945 | €102,800 | +€69,855 | +212% |
| Financial income | 75/76B | €1,690 | €1,537 | -€153 | -9.0% |
| Recurring financial income | 75 | €1,690 | €1,537 | -€153 | -9.0% |
| Financial charges | 65/66B | €578 | €612 | +€34 | +5.8% |
| Recurring financial charges | 65 | €578 | €612 | +€34 | +5.8% |
| Profit (loss) for the period before taxes | 9903 | €34,057 | €103,725 | +€69,668 | +205% |
| Income taxes | 67/77 | €10,198 | €29,570 | +€19,372 | +190% |
| Profit (loss) for the period | 9904 | €23,859 | €74,156 | +€50,296 | +211% |
| Profit (loss) for the period to be appropriated | 9905 | €23,859 | €74,156 | +€50,296 | +211% |
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 20 October 2026 via checked.be.