LARX: what changed
Two fiscal 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.
LARX
Largest movements
- Current investments -€98,440
down €98,440 (-100.0%), from €98,440 to €0
- Cash -€64,486
down €64,486 (-16.3%), from €394,553 to €330,067
mainly Other debts (-€435,717) and Contributions, distributions and other (-€350,000)
- Tangible fixed assets -€27,687
down €27,687 (-4.5%), from €610,969 to €583,282
of which Leasing and similar rights: -€15,299
- Receivables within one year -€24,719
down €24,719 (-36.9%), from €67,027 to €42,308
of which Other amounts receivable: -€24,719
- Other debts -€435,717
down €435,717 (-80.1%), from €543,637 to €107,919
- Reserves +€297,259
up €297,259 (+41.4%), from €718,401 to €1.0m
- Short-term financial debts -€42,323
down €42,323 (-71.6%), from €59,111 to €16,789
- Tax, wage and social debts -€17,902
down €17,902 (-55.0%), from €32,532 to €14,630
- Debts after one year -€15,228
down €15,228 (-31.1%), from €48,888 to €33,660
- Financial income +€48,287
up €48,287 (+12122.4%), from €398 to €48,685
- Gross operating margin -€35,811
down €35,811 (-4.0%), from €886,755 to €850,944
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 | €1,437,992 | €1,226,742 | -€211,250 | -14.7% |
| Fixed assets | 21/28 | €630,969 | €603,282 | -€27,687 | -4.4% |
| Tangible fixed assets | 22/27 | €610,969 | €583,282 | -€27,687 | -4.5% |
| Land and buildings | 22 | €5,735 | €7,866 | +€2,131 | +37.2% |
| Furniture and vehicles | 24 | €86,575 | €72,056 | -€14,519 | -16.8% |
| Leasing and similar rights | 25 | €62,953 | €47,654 | -€15,299 | -24.3% |
| Other tangible fixed assets | 26 | €455,706 | €455,706 | = | 0.0% |
| Financial fixed assets | 28 | €20,000 | €20,000 | = | 0.0% |
| Current assets | 29/58 | €807,023 | €623,460 | -€183,562 | -22.7% |
| Amounts receivable within one year | 40/41 | €67,027 | €42,308 | -€24,719 | -36.9% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €67,027 | €42,308 | -€24,719 | -36.9% |
| Current investments | 50/53 | €98,440 | €0 | -€98,440 | -100.0% |
| Cash at bank and in hand | 54/58 | €394,553 | €330,067 | -€64,486 | -16.3% |
| Deferred charges and accrued income | 490/1 | €247,002 | €251,085 | +€4,084 | +1.7% |
| Total equity and liabilities | 10/49 | €1,437,992 | €1,226,742 | -€211,250 | -14.7% |
| Equity | 10/15 | €737,001 | €1,034,260 | +€297,259 | +40.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €718,401 | €1,015,660 | +€297,259 | +41.4% |
| Distributable reserves | 133 | €718,401 | €1,015,660 | +€297,259 | +41.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €700,991 | €192,482 | -€508,509 | -72.5% |
| Amounts payable after more than one year | 17 | €48,888 | €33,660 | -€15,228 | -31.1% |
| Financial debts | 170/4 | €48,888 | €33,660 | -€15,228 | -31.1% |
| Amounts payable within one year | 42/48 | €652,103 | €158,822 | -€493,280 | -75.6% |
| Current portion of amounts payable after more than one year | 42 | €14,657 | €15,228 | +€572 | +3.9% |
| Financial debts | 43 | €59,111 | €16,789 | -€42,323 | -71.6% |
| Credit institutions | 430/8 | €59,111 | €16,789 | -€42,323 | -71.6% |
| Trade debts | 44 | €2,166 | €4,256 | +€2,090 | +96.5% |
| Suppliers | 440/4 | €2,166 | €4,256 | +€2,090 | +96.5% |
| Taxes, remuneration and social security | 45 | €32,532 | €14,630 | -€17,902 | -55.0% |
| Taxes | 450/3 | €32,532 | €14,630 | -€17,902 | -55.0% |
| Other amounts payable | 47/48 | €543,637 | €107,919 | -€435,717 | -80.1% |
| Non-recurring operating income | 76A | €23,000 | €0 | -€23,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,652 | €32,046 | +€3,394 | +11.8% |
| Other operating charges | 640/8 | €1,971 | €1,529 | -€441 | -22.4% |
| Gross operating margin | 9900 | €886,755 | €850,944 | -€35,811 | -4.0% |
| Operating profit (loss) | 9901 | €856,132 | €817,369 | -€38,763 | -4.5% |
| Financial income | 75/76B | €398 | €48,685 | +€48,287 | +12122.4% |
| Recurring financial income | 75 | €398 | €48,685 | +€48,287 | +12122.4% |
| Financial charges | 65/66B | €6,461 | €4,869 | -€1,592 | -24.6% |
| Recurring financial charges | 65 | €6,461 | €4,869 | -€1,592 | -24.6% |
| Profit (loss) for the period before taxes | 9903 | €850,070 | €861,186 | +€11,116 | +1.3% |
| Income taxes | 67/77 | €206,669 | €213,927 | +€7,258 | +3.5% |
| Profit (loss) for the period | 9904 | €643,401 | €647,259 | +€3,858 | +0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €643,401 | €647,259 | +€3,858 | +0.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.