LARECO: 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.
What changed
LARECO
NACE 72.109, Other research and development on natural sciences
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€596,531
2024 · €539,310+€57,221
Equity
€1.8m
2024 · €1.6m+€246,531
Cash
€1.5m
2024 · €1.2m+€241,161
Balance sheet total
€2.6m
2024 · €2.3m+€315,521
Largest movements
Assets
- Cash +€241,161
up €241,161 (+19.9%), from €1.2m to €1.5m
mainly Net result for the year (+€596,531) and Depreciation (+€88,318)
- Tangible fixed assets +€138,254
up €138,254 (+57.3%), from €241,200 to €379,454
of which Furniture and vehicles: +€76,225
- Receivables within one year -€62,041
down €62,041 (-7.4%), from €841,419 to €779,378
of which Trade receivables: -€62,041
Equity and liabilities
- Profit (loss) carried forward +€246,531
up €246,531 (+24.3%), from €1.0m to €1.3m
- Tax, wage and social debts +€51,334
up €51,334 (+31.6%), from €162,635 to €213,970
of which Taxes: +€35,876
Income statement
- Turnover +€264,759
up €264,759 (+8.4%), from €3.2m to €3.4m
- Staff costs +€99,683
up €99,683 (+10.0%), from €994,903 to €1.1m
- Services and other goods +€71,139
up €71,139 (+7.5%), from €952,256 to €1.0m
- Other operating charges -€47,280
down €47,280 (-65.5%), from €72,195 to €24,914
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.
Result 2024
€539,310
Turnover
+€264,759
Other operating income
-€1,600
Goods and materials
-€16,810
Services and other goods
-€71,139
Staff costs
-€99,683
Depreciation
-€29,291
Write-downs
-€10,175
Other operating charges
+€47,280
Financial income
-€6,074
Financial charges
-€61
Taxes
-€19,986
Result 2025
€596,531
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.
From operations
+€819,932
Investment
-€223,751
Financing
-€355,021
Cash 2024
€1.2m
From operations (derived)
+€819,932
Net result for the year
+€596,531
Depreciation
+€88,318
Receivables within one year
+€62,041
Deferred charges and accrued income
-€969
Trade debts
-€2,324
Tax, wage and social debts
+€51,334
Other debts
+€25,000
Investment (derived)
-€223,751
Investment in fixed assets (net)
-€223,751
Financing
-€355,021
Debts after one year
-€5,111
Current portion of long-term debt
+€90
Contributions, distributions and other
-€350,000
Cash 2025
€1.5m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,306,977 | €2,622,498 | +€315,521 | +13.7% |
| Fixed assets | 21/28 | €250,479 | €385,911 | +€135,432 | +54.1% |
| Tangible fixed assets | 22/27 | €241,200 | €379,454 | +€138,254 | +57.3% |
| Land and buildings | 22 | €38,959 | €37,804 | -€1,155 | -3.0% |
| Plant, machinery and equipment | 23 | €170,026 | €238,372 | +€68,346 | +40.2% |
| Furniture and vehicles | 24 | €20,364 | €96,589 | +€76,225 | +374.3% |
| Leasing and similar rights | 25 | €11,851 | €6,689 | -€5,162 | -43.6% |
| Financial fixed assets | 28 | €9,279 | €6,457 | -€2,822 | -30.4% |
| Other financial fixed assets | 284/8 | €9,279 | €6,457 | -€2,822 | -30.4% |
| Amounts receivable and cash guarantees | 285/8 | €9,279 | €6,457 | -€2,822 | -30.4% |
| Current assets | 29/58 | €2,056,498 | €2,236,587 | +€180,089 | +8.8% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €841,419 | €779,378 | -€62,041 | -7.4% |
| Trade receivables | 40 | €831,630 | €769,589 | -€62,041 | -7.5% |
| Other amounts receivable | 41 | €9,789 | €9,789 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,210,717 | €1,451,878 | +€241,161 | +19.9% |
| Deferred charges and accrued income | 490/1 | €4,362 | €5,331 | +€969 | +22.2% |
| Total equity and liabilities | 10/49 | €2,306,977 | €2,622,498 | +€315,521 | +13.7% |
| Equity | 10/15 | €1,562,718 | €1,809,249 | +€246,531 | +15.8% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €50,000 | €50,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €50,000 | €50,000 | = | 0.0% |
| Legal reserve | 130 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,012,718 | €1,259,249 | +€246,531 | +24.3% |
| Amounts payable | 17/49 | €744,259 | €813,249 | +€68,990 | +9.3% |
| Amounts payable after more than one year | 17 | €7,435 | €2,324 | -€5,111 | -68.7% |
| Financial debts | 170/4 | €7,435 | €2,324 | -€5,111 | -68.7% |
| Leasing and similar obligations | 172 | €7,435 | €2,324 | -€5,111 | -68.7% |
| Amounts payable within one year | 42/48 | €736,824 | €810,925 | +€74,101 | +10.1% |
| Current portion of amounts payable after more than one year | 42 | €5,021 | €5,111 | +€90 | +1.8% |
| Trade debts | 44 | €244,168 | €241,844 | -€2,324 | -1.0% |
| Suppliers | 440/4 | €244,168 | €241,844 | -€2,324 | -1.0% |
| Taxes, remuneration and social security | 45 | €162,635 | €213,970 | +€51,334 | +31.6% |
| Taxes | 450/3 | €77,660 | €113,535 | +€35,876 | +46.2% |
| Remuneration and social security | 454/9 | €84,975 | €100,434 | +€15,459 | +18.2% |
| Other amounts payable | 47/48 | €325,000 | €350,000 | +€25,000 | +7.7% |
| Operating income | 70/76A | €3,171,113 | €3,434,272 | +€263,160 | +8.3% |
| Turnover | 70 | €3,169,513 | €3,434,272 | +€264,759 | +8.4% |
| Other operating income | 74 | €1,600 | €0 | -€1,600 | -100.0% |
| Operating charges | 60/66A | €2,447,707 | €2,627,525 | +€179,819 | +7.3% |
| Goods for resale, raw materials and consumables | 60 | €377,678 | €394,488 | +€16,810 | +4.5% |
| Purchases | 600/8 | €377,678 | €394,488 | +€16,810 | +4.5% |
| Services and other goods | 61 | €952,256 | €1,023,395 | +€71,139 | +7.5% |
| Remuneration, social security and pensions | 62 | €994,903 | €1,094,587 | +€99,683 | +10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,027 | €88,318 | +€29,291 | +49.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€8,353 | €1,822 | +€10,175 | |
| Other operating charges | 640/8 | €72,195 | €24,914 | -€47,280 | -65.5% |
| Operating profit (loss) | 9901 | €723,406 | €806,747 | +€83,341 | +11.5% |
| Financial income | 75/76B | €6,519 | €446 | -€6,074 | -93.2% |
| Recurring financial income | 75 | €6,519 | €446 | -€6,074 | -93.2% |
| Other financial income | 752/9 | €6,519 | €446 | -€6,074 | -93.2% |
| Financial charges | 65/66B | €419 | €479 | +€61 | +14.5% |
| Recurring financial charges | 65 | €419 | €479 | +€61 | +14.5% |
| Debt charges | 650 | €262 | €173 | -€89 | -33.8% |
| Other financial charges | 652/9 | €157 | €306 | +€149 | +95.3% |
| Profit (loss) for the period before taxes | 9903 | €729,507 | €806,714 | +€77,207 | +10.6% |
| Income taxes | 67/77 | €190,197 | €210,183 | +€19,986 | +10.5% |
| Taxes | 670/3 | €190,197 | €210,183 | +€19,986 | +10.5% |
| Profit (loss) for the period | 9904 | €539,310 | €596,531 | +€57,221 | +10.6% |
| Profit (loss) for the period to be appropriated | 9905 | €539,310 | €596,531 | +€57,221 | +10.6% |
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 2 October 2026 via checked.be.