LARMUSEAU: 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.
LARMUSEAU
Largest movements
- Cash +€206,111
up €206,111 (+44.0%), from €468,917 to €675,027
mainly Net result for the year (+€150,182) and Depreciation (+€51,022)
- Intangible fixed assets -€26,566
down €26,566 (-17.6%), from €151,164 to €124,598
- Receivables within one year -€23,334
down €23,334 (-20.4%), from €114,327 to €90,993
of which Other amounts receivable: -€41,191
- Tangible fixed assets -€10,840
down €10,840 (-35.3%), from €30,690 to €19,850
of which Plant, machinery and equipment: -€7,280
- Profit (loss) carried forward +€150,182
up €150,182 (+86.2%), from -€174,128 to -€23,946
- Trade debts +€20,634
up €20,634 (+23.0%), from €89,746 to €110,380
- Tax, wage and social debts -€14,093
down €14,093 (-27.5%), from €51,296 to €37,203
of which Remuneration and social security: -€10,139
- Staff costs -€36,145
down €36,145 (-17.2%), from €210,391 to €174,246
- Other operating charges +€5,541
up €5,541 (+65.0%), from €8,526 to €14,067
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 | €859,513 | €1,012,012 | +€152,499 | +17.7% |
| Fixed assets | 21/28 | €195,457 | €157,522 | -€37,935 | -19.4% |
| Intangible fixed assets | 21 | €151,164 | €124,598 | -€26,566 | -17.6% |
| Tangible fixed assets | 22/27 | €30,690 | €19,850 | -€10,840 | -35.3% |
| Plant, machinery and equipment | 23 | €26,687 | €19,407 | -€7,280 | -27.3% |
| Furniture and vehicles | 24 | €2,491 | €206 | -€2,285 | -91.7% |
| Other tangible fixed assets | 26 | €1,512 | €237 | -€1,276 | -84.4% |
| Financial fixed assets | 28 | €13,603 | €13,074 | -€529 | -3.9% |
| Current assets | 29/58 | €664,055 | €854,490 | +€190,435 | +28.7% |
| Stocks and contracts in progress | 3 | €79,211 | €82,320 | +€3,109 | +3.9% |
| Stocks | 30/36 | €79,211 | €82,320 | +€3,109 | +3.9% |
| Amounts receivable within one year | 40/41 | €114,327 | €90,993 | -€23,334 | -20.4% |
| Trade receivables | 40 | €71,650 | €89,506 | +€17,856 | +24.9% |
| Other amounts receivable | 41 | €42,677 | €1,486 | -€41,191 | -96.5% |
| Cash at bank and in hand | 54/58 | €468,917 | €675,027 | +€206,111 | +44.0% |
| Deferred charges and accrued income | 490/1 | €1,601 | €6,150 | +€4,549 | +284% |
| Total equity and liabilities | 10/49 | €859,513 | €1,012,012 | +€152,499 | +17.7% |
| Equity | 10/15 | €172,107 | €322,289 | +€150,182 | +87.3% |
| Contributions | 10/11 | €343,570 | €343,570 | = | 0.0% |
| Reserves | 13 | €2,665 | €2,665 | = | 0.0% |
| Distributable reserves | 133 | €2,665 | €2,665 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€174,128 | -€23,946 | +€150,182 | +86.2% |
| Amounts payable | 17/49 | €687,405 | €689,723 | +€2,318 | +0.3% |
| Amounts payable within one year | 42/48 | €683,389 | €688,700 | +€5,311 | +0.8% |
| Trade debts | 44 | €89,746 | €110,380 | +€20,634 | +23.0% |
| Suppliers | 440/4 | €89,746 | €110,380 | +€20,634 | +23.0% |
| Taxes, remuneration and social security | 45 | €51,296 | €37,203 | -€14,093 | -27.5% |
| Taxes | 450/3 | €10,462 | €6,508 | -€3,954 | -37.8% |
| Remuneration and social security | 454/9 | €40,834 | €30,695 | -€10,139 | -24.8% |
| Other amounts payable | 47/48 | €542,347 | €541,117 | -€1,230 | -0.2% |
| Accrued charges and deferred income | 492/3 | €4,016 | €1,023 | -€2,993 | -74.5% |
| Remuneration, social security and pensions | 62 | €210,391 | €174,246 | -€36,145 | -17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,175 | €51,022 | -€1,153 | -2.2% |
| Other operating charges | 640/8 | €8,526 | €14,067 | +€5,541 | +65.0% |
| Gross operating margin | 9900 | €390,315 | €391,324 | +€1,008 | +0.3% |
| Operating profit (loss) | 9901 | €119,222 | €151,988 | +€32,765 | +27.5% |
| Financial income | 75/76B | €317 | €3,042 | +€2,725 | +858% |
| Recurring financial income | 75 | €317 | €3,042 | +€2,725 | +858% |
| Financial charges | 65/66B | €4,134 | €4,411 | +€277 | +6.7% |
| Recurring financial charges | 65 | €4,134 | €4,411 | +€277 | +6.7% |
| Profit (loss) for the period before taxes | 9903 | €115,406 | €150,619 | +€35,212 | +30.5% |
| Income taxes | 67/77 | €411 | €437 | +€26 | +6.4% |
| Profit (loss) for the period | 9904 | €114,995 | €150,182 | +€35,186 | +30.6% |
| Profit (loss) for the period to be appropriated | 9905 | €114,995 | €150,182 | +€35,186 | +30.6% |
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 13 October 2026 via checked.be.