LAROY: 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.
LAROY
Largest movements
- Current investments +€72,000
up €72,000 (+46.1%), from €156,095 to €228,095
- Cash +€61,786
up €61,786 (+26.8%), from €230,642 to €292,428
mainly Net result for the year (+€151,016) and Other debts (+€19,703)
- Receivables within one year +€16,611
up €16,611 (+161%), from €10,292 to €26,903
of which Trade receivables: +€16,611
- Tangible fixed assets -€15,806
down €15,806 (-52.9%), from €29,871 to €14,065
of which Furniture and vehicles: -€15,227
- Reserves +€115,157
up €115,157 (+26.6%), from €432,675 to €547,832
- Other debts +€19,703
up €19,703 (+205%), from €9,622 to €29,325
- Financial income +€96,513
up €96,513 (+111%), from €87,264 to €183,777
of which Non-recurring financial income: +€78,686
- Gross operating margin -€54,698
down €54,698 (-55.9%), from €97,766 to €43,068
- Staff costs -€18,254
no longer reported in 2025 (was €18,254)
- Taxes +€16,455
up €16,455 (+41.7%), from €39,427 to €55,882
- Depreciation -€1,680
down €1,680 (-9.0%), from €18,685 to €17,005
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 | €504,997 | €640,146 | +€135,149 | +26.8% |
| Fixed assets | 21/28 | €29,871 | €14,065 | -€15,806 | -52.9% |
| Tangible fixed assets | 22/27 | €29,871 | €14,065 | -€15,806 | -52.9% |
| Plant, machinery and equipment | 23 | €1,612 | €1,033 | -€579 | -35.9% |
| Furniture and vehicles | 24 | €28,259 | €13,032 | -€15,227 | -53.9% |
| Current assets | 29/58 | €475,126 | €626,081 | +€150,955 | +31.8% |
| Amounts receivable after more than one year | 29 | €75,000 | €75,000 | = | 0.0% |
| Other amounts receivable | 291 | €75,000 | €75,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €10,292 | €26,903 | +€16,611 | +161% |
| Trade receivables | 40 | €9,354 | €25,965 | +€16,611 | +178% |
| Other amounts receivable | 41 | €938 | €938 | = | 0.0% |
| Current investments | 50/53 | €156,095 | €228,095 | +€72,000 | +46.1% |
| Cash at bank and in hand | 54/58 | €230,642 | €292,428 | +€61,786 | +26.8% |
| Deferred charges and accrued income | 490/1 | €3,097 | €3,654 | +€557 | +18.0% |
| Total equity and liabilities | 10/49 | €504,997 | €640,146 | +€135,149 | +26.8% |
| Equity | 10/15 | €451,275 | €566,432 | +€115,157 | +25.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €432,675 | €547,832 | +€115,157 | +26.6% |
| Distributable reserves | 133 | €432,675 | €547,832 | +€115,157 | +26.6% |
| Amounts payable | 17/49 | €53,722 | €73,714 | +€19,992 | +37.2% |
| Amounts payable within one year | 42/48 | €53,722 | €73,714 | +€19,992 | +37.2% |
| Current portion of amounts payable after more than one year | 42 | €3,000 | - | -€3,000 | |
| Trade debts | 44 | €436 | €1,224 | +€787 | +180% |
| Suppliers | 440/4 | €436 | €1,224 | +€787 | +180% |
| Taxes, remuneration and social security | 45 | €40,663 | €43,165 | +€2,502 | +6.2% |
| Taxes | 450/3 | €40,663 | €43,165 | +€2,502 | +6.2% |
| Other amounts payable | 47/48 | €9,622 | €29,325 | +€19,703 | +205% |
| Remuneration, social security and pensions | 62 | €18,254 | - | -€18,254 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,685 | €17,005 | -€1,680 | -9.0% |
| Other operating charges | 640/8 | €2,121 | €2,032 | -€90 | -4.2% |
| Gross operating margin | 9900 | €97,766 | €43,068 | -€54,698 | -55.9% |
| Operating profit (loss) | 9901 | €58,706 | €24,031 | -€34,675 | -59.1% |
| Financial income | 75/76B | €87,264 | €183,777 | +€96,513 | +111% |
| Recurring financial income | 75 | €12,264 | €30,091 | +€17,827 | +145% |
| Non-recurring financial income | 76B | €75,000 | €153,686 | +€78,686 | +105% |
| Financial charges | 65/66B | €694 | €911 | +€217 | +31.3% |
| Recurring financial charges | 65 | €694 | €911 | +€217 | +31.3% |
| Profit (loss) for the period before taxes | 9903 | €145,276 | €206,898 | +€61,622 | +42.4% |
| Income taxes | 67/77 | €39,427 | €55,882 | +€16,455 | +41.7% |
| Profit (loss) for the period | 9904 | €105,849 | €151,016 | +€45,167 | +42.7% |
| Profit (loss) for the period to be appropriated | 9905 | €105,849 | €151,016 | +€45,167 | +42.7% |
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 17 October 2026 via checked.be.