LARETEX: 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.
LARETEX
Largest movements
- Cash -€24,633
down €24,633 (-14.2%), from €173,206 to €148,573
mainly Contributions, distributions and other (-€116,786) and Investment in fixed assets (net) (-€4,289)
- Receivables within one year -€10,861
down €10,861 (-16.6%), from €65,431 to €54,570
of which Trade receivables: -€12,628
- Reserves -€112,209
down €112,209 (-63.8%), from €175,839 to €63,630
of which Distributable reserves: -€112,209
- Other debts +€75,841
up €75,841 (+185.2%), from €40,944 to €116,786
- Trade debts +€4,762
up €4,762 (+48.7%), from €9,784 to €14,547
- Write-downs -€39,373
no longer reported in 2025 (was €39,373)
- Gross operating margin -€34,667
down €34,667 (-27.2%), from €127,586 to €92,919
- Other operating charges +€17,416
up €17,416 (+4530.1%), from €384 to €17,800
- Taxes -€3,493
down €3,493 (-42.1%), from €8,300 to €4,807
- Staff costs +€1,674
up €1,674 (+2.7%), from €61,908 to €63,582
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 | €246,287 | €214,030 | -€32,257 | -13.1% |
| Fixed assets | 21/28 | €7,650 | €9,703 | +€2,053 | +26.8% |
| Tangible fixed assets | 22/27 | €7,650 | €9,703 | +€2,053 | +26.8% |
| Furniture and vehicles | 24 | €3,975 | €6,509 | +€2,534 | +63.7% |
| Other tangible fixed assets | 26 | €3,675 | €3,194 | -€481 | -13.1% |
| Current assets | 29/58 | €238,637 | €204,327 | -€34,310 | -14.4% |
| Amounts receivable within one year | 40/41 | €65,431 | €54,570 | -€10,861 | -16.6% |
| Trade receivables | 40 | €43,941 | €31,313 | -€12,628 | -28.7% |
| Other amounts receivable | 41 | €21,490 | €23,257 | +€1,767 | +8.2% |
| Cash at bank and in hand | 54/58 | €173,206 | €148,573 | -€24,633 | -14.2% |
| Deferred charges and accrued income | 490/1 | - | €1,184 | +€1,184 | |
| Total equity and liabilities | 10/49 | €246,287 | €214,030 | -€32,257 | -13.1% |
| Equity | 10/15 | €182,039 | €69,830 | -€112,209 | -61.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €175,839 | €63,630 | -€112,209 | -63.8% |
| Non-distributable reserves | 130/1 | €620 | €620 | = | 0.0% |
| Reserves not available under the articles | 1311 | €620 | €620 | = | 0.0% |
| Distributable reserves | 133 | €175,219 | €63,010 | -€112,209 | -64.0% |
| Amounts payable | 17/49 | €64,249 | €144,200 | +€79,952 | +124.4% |
| Amounts payable within one year | 42/48 | €63,549 | €144,200 | +€80,652 | +126.9% |
| Trade debts | 44 | €9,784 | €14,547 | +€4,762 | +48.7% |
| Suppliers | 440/4 | €9,784 | €14,547 | +€4,762 | +48.7% |
| Taxes, remuneration and social security | 45 | €12,820 | €12,868 | +€48 | +0.4% |
| Taxes | 450/3 | €2,750 | €2,297 | -€453 | -16.5% |
| Remuneration and social security | 454/9 | €10,070 | €10,572 | +€501 | +5.0% |
| Other amounts payable | 47/48 | €40,944 | €116,786 | +€75,841 | +185.2% |
| Accrued charges and deferred income | 492/3 | €700 | - | -€700 | |
| Remuneration, social security and pensions | 62 | €61,908 | €63,582 | +€1,674 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,733 | €2,236 | -€497 | -18.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €39,373 | - | -€39,373 | |
| Other operating charges | 640/8 | €384 | €17,800 | +€17,416 | +4530.1% |
| Gross operating margin | 9900 | €127,586 | €92,919 | -€34,667 | -27.2% |
| Operating profit (loss) | 9901 | €23,187 | €9,301 | -€13,886 | -59.9% |
| Financial income | 75/76B | €390 | €663 | +€273 | +70.1% |
| Recurring financial income | 75 | €390 | €663 | +€273 | +70.1% |
| Financial charges | 65/66B | €750 | €581 | -€169 | -22.6% |
| Recurring financial charges | 65 | €750 | €581 | -€169 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | €22,827 | €9,383 | -€13,443 | -58.9% |
| Income taxes | 67/77 | €8,300 | €4,807 | -€3,493 | -42.1% |
| Profit (loss) for the period | 9904 | €14,527 | €4,577 | -€9,950 | -68.5% |
| Profit (loss) for the period to be appropriated | 9905 | €14,527 | €4,577 | -€9,950 | -68.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.