LAROB: 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.
LAROB
Largest movements
- Cash -€222,972
down €222,972 (-49.8%), from €448,135 to €225,163
mainly Contributions, distributions and other (-€450,000) and Receivables within one year (-€109,300)
- Receivables within one year +€109,300
up €109,300 (+32.4%), from €336,885 to €446,185
of which Trade receivables: +€110,314
- Stocks and contracts +€36,970
up €36,970 (+10.3%), from €359,885 to €396,855
of which Stocks: +€36,260
- Tangible fixed assets +€17,675
up €17,675 (+10.7%), from €165,175 to €182,850
of which Furniture and vehicles: +€22,433
- Profit (loss) carried forward -€148,429
down €148,429 (-47.4%), from €313,347 to €164,918
- Trade debts +€102,970
up €102,970 (+55.8%), from €184,566 to €287,535
- Tax, wage and social debts -€20,630
down €20,630 (-14.1%), from €145,842 to €125,212
of which Taxes: -€29,745
- Gross operating margin -€76,705
down €76,705 (-4.6%), from €1.7m to €1.6m
- Staff costs +€35,289
up €35,289 (+3.3%), from €1.1m to €1.1m
- Depreciation +€31,047
up €31,047 (+76.5%), from €40,570 to €71,617
- Taxes -€29,605
down €29,605 (-22.5%), from €131,785 to €102,180
- Financial charges -€17,659
down €17,659 (-89.8%), from €19,655 to €1,996
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 | €1,721,586 | €1,657,243 | -€64,343 | -3.7% |
| Fixed assets | 21/28 | €165,175 | €182,850 | +€17,675 | +10.7% |
| Tangible fixed assets | 22/27 | €165,175 | €182,850 | +€17,675 | +10.7% |
| Plant, machinery and equipment | 23 | €55,246 | €50,488 | -€4,758 | -8.6% |
| Furniture and vehicles | 24 | €109,929 | €132,362 | +€22,433 | +20.4% |
| Current assets | 29/58 | €1,556,412 | €1,474,393 | -€82,018 | -5.3% |
| Stocks and contracts in progress | 3 | €359,885 | €396,855 | +€36,970 | +10.3% |
| Stocks | 30/36 | €356,540 | €392,800 | +€36,260 | +10.2% |
| Contracts in progress | 37 | €3,345 | €4,055 | +€710 | +21.2% |
| Amounts receivable within one year | 40/41 | €336,885 | €446,185 | +€109,300 | +32.4% |
| Trade receivables | 40 | €335,870 | €446,184 | +€110,314 | +32.8% |
| Other amounts receivable | 41 | €1,015 | €2 | -€1,014 | -99.8% |
| Current investments | 50/53 | €353,022 | €353,022 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €448,135 | €225,163 | -€222,972 | -49.8% |
| Deferred charges and accrued income | 490/1 | €58,485 | €53,168 | -€5,317 | -9.1% |
| Total equity and liabilities | 10/49 | €1,721,586 | €1,657,243 | -€64,343 | -3.7% |
| Equity | 10/15 | €1,389,311 | €1,240,882 | -€148,429 | -10.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,057,372 | €1,057,372 | = | 0.0% |
| Tax-exempt reserves | 132 | €84,200 | €84,200 | = | 0.0% |
| Distributable reserves | 133 | €973,172 | €973,172 | = | 0.0% |
| Profit (loss) carried forward | 14 | €313,347 | €164,918 | -€148,429 | -47.4% |
| Amounts payable | 17/49 | €332,275 | €416,362 | +€84,086 | +25.3% |
| Amounts payable within one year | 42/48 | €330,455 | €414,472 | +€84,017 | +25.4% |
| Trade debts | 44 | €184,566 | €287,535 | +€102,970 | +55.8% |
| Suppliers | 440/4 | €184,566 | €287,535 | +€102,970 | +55.8% |
| Advances received on contracts in progress | 46 | €22 | - | -€22 | |
| Taxes, remuneration and social security | 45 | €145,842 | €125,212 | -€20,630 | -14.1% |
| Taxes | 450/3 | €48,351 | €18,606 | -€29,745 | -61.5% |
| Remuneration and social security | 454/9 | €97,491 | €106,605 | +€9,115 | +9.3% |
| Other amounts payable | 47/48 | €25 | €1,725 | +€1,700 | +6799.1% |
| Accrued charges and deferred income | 492/3 | €1,821 | €1,890 | +€69 | +3.8% |
| Remuneration, social security and pensions | 62 | €1,080,142 | €1,115,430 | +€35,289 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,570 | €71,617 | +€31,047 | +76.5% |
| Other operating charges | 640/8 | €6,585 | €6,185 | -€401 | -6.1% |
| Non-recurring operating charges | 66A | €651 | - | -€651 | |
| Gross operating margin | 9900 | €1,661,780 | €1,585,076 | -€76,705 | -4.6% |
| Operating profit (loss) | 9901 | €533,832 | €391,844 | -€141,988 | -26.6% |
| Financial income | 75/76B | €15,155 | €13,902 | -€1,252 | -8.3% |
| Recurring financial income | 75 | €15,155 | €13,902 | -€1,252 | -8.3% |
| Financial charges | 65/66B | €19,655 | €1,996 | -€17,659 | -89.8% |
| Recurring financial charges | 65 | €19,655 | €1,996 | -€17,659 | -89.8% |
| Profit (loss) for the period before taxes | 9903 | €529,332 | €403,750 | -€125,581 | -23.7% |
| Income taxes | 67/77 | €131,785 | €102,180 | -€29,605 | -22.5% |
| Profit (loss) for the period | 9904 | €397,547 | €301,571 | -€95,977 | -24.1% |
| Transfer to tax-exempt reserves | 689 | €84,200 | - | -€84,200 | |
| Profit (loss) for the period to be appropriated | 9905 | €313,347 | €301,571 | -€11,777 | -3.8% |
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 12 October 2026 via checked.be.