LARO: 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.
LARO
Largest movements
- Cash +€46,443
up €46,443 (+22.2%), from €208,747 to €255,190
mainly Net result for the year (+€38,575) and Tax, wage and social debts (+€9,397)
- Stocks and contracts +€6,671
up €6,671 (+34.7%), from €19,202 to €25,873
- Receivables within one year -€5,836
down €5,836 (-45.4%), from €12,854 to €7,017
of which Other amounts receivable: -€2,994
- Reserves +€38,575
up €38,575 (+37.9%), from €101,860 to €140,435
of which Distributable reserves: +€38,575
- Tax, wage and social debts +€9,397
up €9,397 (+63.9%), from €14,704 to €24,101
of which Taxes: +€6,051
- Other debts -€5,083
down €5,083 (-89.0%), from €5,714 to €631
- Gross operating margin +€49,888
up €49,888 (+176%), from €28,277 to €78,164
- Taxes -€3,149
down €3,149, from €0 to -€3,149
- Staff costs +€1,443
up €1,443 (+3.8%), from €38,096 to €39,540
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 | €255,934 | €300,228 | +€44,295 | +17.3% |
| Fixed assets | 21/28 | €15,130 | €12,148 | -€2,983 | -19.7% |
| Tangible fixed assets | 22/27 | €10,750 | €7,768 | -€2,983 | -27.7% |
| Plant, machinery and equipment | 23 | €9,206 | €7,010 | -€2,196 | -23.9% |
| Furniture and vehicles | 24 | €558 | €410 | -€148 | -26.5% |
| Other tangible fixed assets | 26 | €987 | €348 | -€639 | -64.7% |
| Financial fixed assets | 28 | €4,380 | €4,380 | = | 0.0% |
| Current assets | 29/58 | €240,803 | €288,081 | +€47,278 | +19.6% |
| Stocks and contracts in progress | 3 | €19,202 | €25,873 | +€6,671 | +34.7% |
| Stocks | 30/36 | €19,202 | €25,873 | +€6,671 | +34.7% |
| Amounts receivable within one year | 40/41 | €12,854 | €7,017 | -€5,836 | -45.4% |
| Trade receivables | 40 | €2,854 | €11 | -€2,842 | -99.6% |
| Other amounts receivable | 41 | €10,000 | €7,006 | -€2,994 | -29.9% |
| Cash at bank and in hand | 54/58 | €208,747 | €255,190 | +€46,443 | +22.2% |
| Total equity and liabilities | 10/49 | €255,934 | €300,228 | +€44,295 | +17.3% |
| Equity | 10/15 | €227,600 | €266,174 | +€38,575 | +16.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €101,860 | €140,435 | +€38,575 | +37.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €100,000 | €138,575 | +€38,575 | +38.6% |
| Profit (loss) carried forward | 14 | €107,140 | €107,140 | +€0 | 0.0% |
| Amounts payable | 17/49 | €28,334 | €34,054 | +€5,720 | +20.2% |
| Amounts payable within one year | 42/48 | €28,334 | €34,054 | +€5,720 | +20.2% |
| Trade debts | 44 | €7,916 | €9,322 | +€1,406 | +17.8% |
| Suppliers | 440/4 | €7,916 | €9,322 | +€1,406 | +17.8% |
| Taxes, remuneration and social security | 45 | €14,704 | €24,101 | +€9,397 | +63.9% |
| Taxes | 450/3 | €6,426 | €12,477 | +€6,051 | +94.2% |
| Remuneration and social security | 454/9 | €8,278 | €11,624 | +€3,346 | +40.4% |
| Other amounts payable | 47/48 | €5,714 | €631 | -€5,083 | -89.0% |
| Remuneration, social security and pensions | 62 | €38,096 | €39,540 | +€1,443 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,096 | €2,983 | -€113 | -3.7% |
| Other operating charges | 640/8 | €387 | €0 | -€387 | -100% |
| Gross operating margin | 9900 | €28,277 | €78,164 | +€49,888 | +176% |
| Operating profit (loss) | 9901 | -€13,303 | €35,642 | +€48,945 | |
| Financial income | 75/76B | €130 | €0 | -€130 | -100% |
| Recurring financial income | 75 | €130 | €0 | -€130 | -100% |
| Financial charges | 65/66B | €190 | €216 | +€26 | +14.0% |
| Recurring financial charges | 65 | €190 | €216 | +€26 | +14.0% |
| Profit (loss) for the period before taxes | 9903 | -€13,363 | €35,426 | +€48,788 | |
| Income taxes | 67/77 | €0 | -€3,149 | -€3,149 | |
| Profit (loss) for the period | 9904 | -€13,363 | €38,575 | +€51,937 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,363 | €38,575 | +€51,937 |
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.