LARUELLE PROJECTS: 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.
LARUELLE PROJECTS
Largest movements
- Cash +€89,522
up €89,522 (+793.3%), from €11,284 to €100,806
mainly Net result for the year (+€48,114) and Receivables within one year (+€39,774)
- Receivables within one year -€39,774
down €39,774 (-64.2%), from €61,918 to €22,144
of which Trade receivables: -€42,929
- Stocks and contracts -€3,468
down €3,468 (-100.0%), from €3,468 to €0
- Reserves +€46,125
up €46,125 (+80.2%), from €57,528 to €103,653
- Tax, wage and social debts +€12,056
up €12,056 (+111.7%), from €10,794 to €22,850
of which Taxes: +€11,800
- Current portion of long-term debt -€9,816
down €9,816 (-72.1%), from €13,622 to €3,807
- Debts after one year -€3,807
down €3,807 (-44.8%), from €8,493 to €4,686
- Gross operating margin -€2,127
down €2,127 (-3.0%), from €71,264 to €69,137
- Depreciation +€1,691
up €1,691 (+29.2%), from €5,794 to €7,485
- Taxes -€1,573
down €1,573 (-11.4%), from €13,782 to €12,209
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 | €101,442 | €147,308 | +€45,866 | +45.2% |
| Fixed assets | 21/28 | €24,279 | €24,359 | +€80 | +0.3% |
| Tangible fixed assets | 22/27 | €24,279 | €24,359 | +€80 | +0.3% |
| Plant, machinery and equipment | 23 | €798 | €1,947 | +€1,149 | +144.0% |
| Furniture and vehicles | 24 | €23,481 | €22,412 | -€1,069 | -4.6% |
| Current assets | 29/58 | €77,163 | €122,949 | +€45,786 | +59.3% |
| Stocks and contracts in progress | 3 | €3,468 | €0 | -€3,468 | -100.0% |
| Stocks | 30/36 | €3,468 | €0 | -€3,468 | -100.0% |
| Amounts receivable within one year | 40/41 | €61,918 | €22,144 | -€39,774 | -64.2% |
| Trade receivables | 40 | €60,334 | €17,405 | -€42,929 | -71.2% |
| Other amounts receivable | 41 | €1,584 | €4,739 | +€3,155 | +199.2% |
| Cash at bank and in hand | 54/58 | €11,284 | €100,806 | +€89,522 | +793.3% |
| Deferred charges and accrued income | 490/1 | €493 | - | -€493 | |
| Total equity and liabilities | 10/49 | €101,442 | €147,308 | +€45,866 | +45.2% |
| Equity | 10/15 | €60,528 | €106,653 | +€46,125 | +76.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €57,528 | €103,653 | +€46,125 | +80.2% |
| Distributable reserves | 133 | €57,528 | €103,653 | +€46,125 | +80.2% |
| Amounts payable | 17/49 | €40,914 | €40,655 | -€259 | -0.6% |
| Amounts payable after more than one year | 17 | €8,493 | €4,686 | -€3,807 | -44.8% |
| Financial debts | 170/4 | €8,493 | €4,686 | -€3,807 | -44.8% |
| Amounts payable within one year | 42/48 | €32,421 | €35,969 | +€3,548 | +10.9% |
| Current portion of amounts payable after more than one year | 42 | €13,622 | €3,807 | -€9,816 | -72.1% |
| Trade debts | 44 | €2,162 | €3,310 | +€1,148 | +53.1% |
| Suppliers | 440/4 | €2,162 | €3,310 | +€1,148 | +53.1% |
| Taxes, remuneration and social security | 45 | €10,794 | €22,850 | +€12,056 | +111.7% |
| Taxes | 450/3 | €10,794 | €22,593 | +€11,800 | +109.3% |
| Remuneration and social security | 454/9 | - | €256 | +€256 | |
| Other amounts payable | 47/48 | €5,842 | €6,002 | +€160 | +2.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,794 | €7,485 | +€1,691 | +29.2% |
| Other operating charges | 640/8 | €551 | €605 | +€53 | +9.7% |
| Gross operating margin | 9900 | €71,264 | €69,137 | -€2,127 | -3.0% |
| Operating profit (loss) | 9901 | €64,919 | €61,048 | -€3,871 | -6.0% |
| Financial income | 75/76B | €3 | €172 | +€170 | +6359.9% |
| Recurring financial income | 75 | €3 | €172 | +€170 | +6359.9% |
| Financial charges | 65/66B | €793 | €896 | +€103 | +13.0% |
| Recurring financial charges | 65 | €793 | €896 | +€103 | +13.0% |
| Profit (loss) for the period before taxes | 9903 | €64,128 | €60,324 | -€3,805 | -5.9% |
| Income taxes | 67/77 | €13,782 | €12,209 | -€1,573 | -11.4% |
| Profit (loss) for the period | 9904 | €50,346 | €48,114 | -€2,232 | -4.4% |
| Profit (loss) for the period to be appropriated | 9905 | €50,346 | €48,114 | -€2,232 | -4.4% |
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 11 October 2026 via checked.be.