LARSFIEN: 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.
LARSFIEN
Largest movements
- Financial fixed assets -€257,972
down €257,972 (-28.9%), from €892,000 to €634,028
- Tangible fixed assets +€230,562
new in 2025: €230,562
- Receivables within one year +€26,422
up €26,422 (+17.8%), from €148,247 to €174,669
of which Other amounts receivable: +€26,422
- Deferred charges and accrued income +€18,000
up €18,000, from €0 to €18,000
- Cash -€12,203
down €12,203 (-39.7%), from €30,738 to €18,535
mainly Other debts (-€154,620) and Net result for the year (-€99,762)
- Other debts -€154,620
down €154,620 (-100.0%), from €154,620 to €0
- Reserves +€110,418
up €110,418 (+13.6%), from €811,796 to €922,214
- Contributions +€27,915
up €27,915 (+45.0%), from €62,000 to €89,915
- Profit (loss) carried forward +€11,858
new in 2025: €11,858
- Gross operating margin +€76,623
up €76,623 (+49.6%), from €154,367 to €230,990
- Depreciation +€27,410
new in 2025: €27,410
- Financial income -€2,690
down €2,690 (-35.0%), from €7,690 to €5,000
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 | €1,070,984 | €1,075,794 | +€4,810 | +0.4% |
| Fixed assets | 21/28 | €892,000 | €864,590 | -€27,410 | -3.1% |
| Tangible fixed assets | 22/27 | - | €230,562 | +€230,562 | |
| Land and buildings | 22 | - | €230,562 | +€230,562 | |
| Financial fixed assets | 28 | €892,000 | €634,028 | -€257,972 | -28.9% |
| Current assets | 29/58 | €178,984 | €211,204 | +€32,220 | +18.0% |
| Amounts receivable within one year | 40/41 | €148,247 | €174,669 | +€26,422 | +17.8% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €148,247 | €174,669 | +€26,422 | +17.8% |
| Cash at bank and in hand | 54/58 | €30,738 | €18,535 | -€12,203 | -39.7% |
| Deferred charges and accrued income | 490/1 | €0 | €18,000 | +€18,000 | |
| Total equity and liabilities | 10/49 | €1,070,984 | €1,075,794 | +€4,810 | +0.4% |
| Equity | 10/15 | €873,796 | €1,032,006 | +€158,210 | +18.1% |
| Contributions | 10/11 | €62,000 | €89,915 | +€27,915 | +45.0% |
| Revaluation surpluses | 12 | - | €8,019 | +€8,019 | |
| Reserves | 13 | €811,796 | €922,214 | +€110,418 | +13.6% |
| Distributable reserves | 133 | €811,796 | €922,214 | +€110,418 | +13.6% |
| Profit (loss) carried forward | 14 | - | €11,858 | +€11,858 | |
| Amounts payable | 17/49 | €197,188 | €43,789 | -€153,399 | -77.8% |
| Amounts payable within one year | 42/48 | €197,188 | €39,774 | -€157,414 | -79.8% |
| Financial debts | 43 | €8,453 | €13,461 | +€5,008 | +59.2% |
| Credit institutions | 430/8 | €8,453 | €13,461 | +€5,008 | +59.2% |
| Trade debts | 44 | €13,515 | €5,727 | -€7,788 | -57.6% |
| Suppliers | 440/4 | €13,515 | €5,727 | -€7,788 | -57.6% |
| Taxes, remuneration and social security | 45 | €20,600 | €20,585 | -€15 | -0.1% |
| Taxes | 450/3 | €18,635 | €18,602 | -€33 | -0.2% |
| Remuneration and social security | 454/9 | €1,965 | €1,983 | +€18 | +0.9% |
| Other amounts payable | 47/48 | €154,620 | €0 | -€154,620 | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | €4,015 | +€4,015 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €27,410 | +€27,410 | |
| Other operating charges | 640/8 | €1,206 | €3,128 | +€1,922 | +159.4% |
| Non-recurring operating charges | 66A | - | €257,972 | +€257,972 | |
| Gross operating margin | 9900 | €154,367 | €230,990 | +€76,623 | +49.6% |
| Operating profit (loss) | 9901 | €153,161 | -€57,519 | -€210,680 | |
| Financial income | 75/76B | €7,690 | €5,000 | -€2,690 | -35.0% |
| Recurring financial income | 75 | €7,690 | €5,000 | -€2,690 | -35.0% |
| Financial charges | 65/66B | €769 | €681 | -€88 | -11.5% |
| Recurring financial charges | 65 | €769 | €681 | -€88 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | €160,082 | -€53,200 | -€213,282 | |
| Income taxes | 67/77 | €48,494 | €46,563 | -€1,931 | -4.0% |
| Profit (loss) for the period | 9904 | €111,588 | -€99,762 | -€211,350 | |
| Profit (loss) for the period to be appropriated | 9905 | €111,588 | -€99,762 | -€211,350 |
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 9 October 2026 via checked.be.