LAS: 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.
LAS
Largest movements
- Receivables within one year +€17,485
up €17,485 (+71.4%), from €24,494 to €41,979
of which Trade receivables: +€16,899
- Cash -€11,774
down €11,774 (-12.3%), from €95,878 to €84,104
mainly Receivables within one year (-€17,485) and Investment in fixed assets (net) (-€11,235)
- Financial fixed assets +€5,400
new in 2025: €5,400
- Tangible fixed assets -€3,156
down €3,156 (-14.6%), from €21,589 to €18,432
of which Plant, machinery and equipment: -€1,966
- Reserves +€15,592
up €15,592 (+24.4%), from €63,773 to €79,365
- Debts after one year -€7,328
down €7,328 (-87.1%), from €8,410 to €1,082
- Current portion of long-term debt -€2,900
down €2,900 (-28.4%), from €10,228 to €7,328
- Other debts +€2,440
up €2,440 (+15.2%), from €16,032 to €18,472
- Tax, wage and social debts +€2,268
up €2,268 (+19.2%), from €11,830 to €14,097
of which Taxes: +€2,884
- Gross operating margin -€15,672
down €15,672 (-29.1%), from €53,924 to €38,252
- Depreciation -€12,199
down €12,199 (-57.6%), from €21,190 to €8,991
- Staff costs +€9,159
up €9,159 (+748.3%), from €1,224 to €10,383
- Taxes -€997
down €997 (-39.0%), from €2,556 to €1,559
- Other operating charges -€682
down €682 (-63.5%), from €1,073 to €391
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 | €141,961 | €150,036 | +€8,075 | +5.7% |
| Fixed assets | 21/28 | €21,589 | €23,832 | +€2,244 | +10.4% |
| Tangible fixed assets | 22/27 | €21,589 | €18,432 | -€3,156 | -14.6% |
| Plant, machinery and equipment | 23 | €14,488 | €12,521 | -€1,966 | -13.6% |
| Furniture and vehicles | 24 | €7,101 | €5,911 | -€1,190 | -16.8% |
| Financial fixed assets | 28 | - | €5,400 | +€5,400 | |
| Current assets | 29/58 | €120,372 | €126,203 | +€5,831 | +4.8% |
| Amounts receivable within one year | 40/41 | €24,494 | €41,979 | +€17,485 | +71.4% |
| Trade receivables | 40 | €24,305 | €41,204 | +€16,899 | +69.5% |
| Other amounts receivable | 41 | €189 | €775 | +€586 | +309.8% |
| Cash at bank and in hand | 54/58 | €95,878 | €84,104 | -€11,774 | -12.3% |
| Deferred charges and accrued income | 490/1 | - | €120 | +€120 | |
| Total equity and liabilities | 10/49 | €141,961 | €150,036 | +€8,075 | +5.7% |
| Equity | 10/15 | €82,373 | €97,965 | +€15,592 | +18.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €63,773 | €79,365 | +€15,592 | +24.4% |
| Distributable reserves | 133 | €63,773 | €79,365 | +€15,592 | +24.4% |
| Amounts payable | 17/49 | €59,588 | €52,071 | -€7,517 | -12.6% |
| Amounts payable after more than one year | 17 | €8,410 | €1,082 | -€7,328 | -87.1% |
| Financial debts | 170/4 | €8,410 | €1,082 | -€7,328 | -87.1% |
| Amounts payable within one year | 42/48 | €51,178 | €50,989 | -€189 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €10,228 | €7,328 | -€2,900 | -28.4% |
| Trade debts | 44 | €13,089 | €11,092 | -€1,997 | -15.3% |
| Suppliers | 440/4 | €13,089 | €11,092 | -€1,997 | -15.3% |
| Taxes, remuneration and social security | 45 | €11,830 | €14,097 | +€2,268 | +19.2% |
| Taxes | 450/3 | €10,251 | €13,136 | +€2,884 | +28.1% |
| Remuneration and social security | 454/9 | €1,578 | €961 | -€617 | -39.1% |
| Other amounts payable | 47/48 | €16,032 | €18,472 | +€2,440 | +15.2% |
| Remuneration, social security and pensions | 62 | €1,224 | €10,383 | +€9,159 | +748.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,190 | €8,991 | -€12,199 | -57.6% |
| Other operating charges | 640/8 | €1,073 | €391 | -€682 | -63.5% |
| Gross operating margin | 9900 | €53,924 | €38,252 | -€15,672 | -29.1% |
| Operating profit (loss) | 9901 | €30,437 | €18,486 | -€11,951 | -39.3% |
| Financial income | 75/76B | €0 | €544 | +€544 | +201344.4% |
| Recurring financial income | 75 | €0 | €544 | +€544 | +201344.4% |
| Financial charges | 65/66B | €2,320 | €1,879 | -€441 | -19.0% |
| Recurring financial charges | 65 | €2,320 | €1,879 | -€441 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | €28,117 | €17,151 | -€10,966 | -39.0% |
| Income taxes | 67/77 | €2,556 | €1,559 | -€997 | -39.0% |
| Profit (loss) for the period | 9904 | €25,560 | €15,592 | -€9,969 | -39.0% |
| Profit (loss) for the period to be appropriated | 9905 | €25,560 | €15,592 | -€9,969 | -39.0% |
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.