Lase: 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.
Lase
Largest movements
- Receivables after one year +€810,000
new in 2025: €810,000
- Receivables within one year -€647,722
down €647,722 (-91.1%), from €711,265 to €63,543
of which Other amounts receivable: -€493,607
- Cash +€105,052
up €105,052 (+39871.1%), from €263 to €105,316
mainly Receivables within one year (+€647,722) and Other debts (+€105,983)
- Tangible fixed assets -€31,798
down €31,798 (-3.2%), from €996,092 to €964,294
of which Land and buildings: -€17,048
- Current investments +€24,000
up €24,000 (+13.7%), from €175,345 to €199,345
- Other debts +€105,983
up €105,983 (+19.0%), from €557,417 to €663,401
- Short-term financial debts +€92,200
up €92,200 (+58.4%), from €157,800 to €250,000
- Reserves +€62,150
up €62,150 (+10.7%), from €580,889 to €643,039
- Tax, wage and social debts +€46,235
up €46,235 (+497.9%), from €9,286 to €55,521
- Debts after one year -€40,135
down €40,135 (-7.2%), from €557,211 to €517,077
- Other operating charges -€42,915
down €42,915 (-72.3%), from €59,323 to €16,409
- Taxes +€26,836
up €26,836 (+160.5%), from €16,716 to €43,551
- Gross operating margin -€20,342
down €20,342 (-13.0%), from €156,731 to €136,389
- Financial income +€19,391
up €19,391 (+62.0%), from €31,288 to €50,679
- Depreciation -€10,548
down €10,548 (-17.1%), from €61,825 to €51,277
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 | €1,924,831 | €2,204,931 | +€280,100 | +14.6% |
| Fixed assets | 21/28 | €996,092 | €964,294 | -€31,798 | -3.2% |
| Tangible fixed assets | 22/27 | €996,092 | €964,294 | -€31,798 | -3.2% |
| Land and buildings | 22 | €971,291 | €954,243 | -€17,048 | -1.8% |
| Furniture and vehicles | 24 | €24,801 | €10,051 | -€14,750 | -59.5% |
| Current assets | 29/58 | €928,739 | €1,240,637 | +€311,898 | +33.6% |
| Amounts receivable after more than one year | 29 | - | €810,000 | +€810,000 | |
| Other amounts receivable | 291 | - | €810,000 | +€810,000 | |
| Amounts receivable within one year | 40/41 | €711,265 | €63,543 | -€647,722 | -91.1% |
| Trade receivables | 40 | €217,641 | €63,526 | -€154,115 | -70.8% |
| Other amounts receivable | 41 | €493,623 | €16 | -€493,607 | -100.0% |
| Current investments | 50/53 | €175,345 | €199,345 | +€24,000 | +13.7% |
| Cash at bank and in hand | 54/58 | €263 | €105,316 | +€105,052 | +39871.1% |
| Deferred charges and accrued income | 490/1 | €41,866 | €62,434 | +€20,568 | +49.1% |
| Total equity and liabilities | 10/49 | €1,924,831 | €2,204,931 | +€280,100 | +14.6% |
| Equity | 10/15 | €599,439 | €661,589 | +€62,150 | +10.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €580,889 | €643,039 | +€62,150 | +10.7% |
| Distributable reserves | 133 | €580,889 | €643,039 | +€62,150 | +10.7% |
| Amounts payable | 17/49 | €1,325,392 | €1,543,342 | +€217,950 | +16.4% |
| Amounts payable after more than one year | 17 | €557,211 | €517,077 | -€40,135 | -7.2% |
| Financial debts | 170/4 | €557,211 | €517,077 | -€40,135 | -7.2% |
| Amounts payable within one year | 42/48 | €768,181 | €1,023,790 | +€255,609 | +33.3% |
| Current portion of amounts payable after more than one year | 42 | €39,048 | €40,135 | +€1,087 | +2.8% |
| Financial debts | 43 | €157,800 | €250,000 | +€92,200 | +58.4% |
| Credit institutions | 430/8 | €157,800 | €250,000 | +€92,200 | +58.4% |
| Trade debts | 44 | €4,630 | €14,734 | +€10,104 | +218.2% |
| Suppliers | 440/4 | €4,630 | €14,734 | +€10,104 | +218.2% |
| Taxes, remuneration and social security | 45 | €9,286 | €55,521 | +€46,235 | +497.9% |
| Taxes | 450/3 | €9,286 | €55,521 | +€46,235 | +497.9% |
| Other amounts payable | 47/48 | €557,417 | €663,401 | +€105,983 | +19.0% |
| Accrued charges and deferred income | 492/3 | - | €2,475 | +€2,475 | |
| Non-recurring operating income | 76A | - | €116,937 | +€116,937 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,825 | €51,277 | -€10,548 | -17.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€25,492 | -€19,824 | +€5,668 | +22.2% |
| Other operating charges | 640/8 | €59,323 | €16,409 | -€42,915 | -72.3% |
| Non-recurring operating charges | 66A | - | €8,634 | +€8,634 | |
| Gross operating margin | 9900 | €156,731 | €136,389 | -€20,342 | -13.0% |
| Operating profit (loss) | 9901 | €61,073 | €79,893 | +€18,819 | +30.8% |
| Financial income | 75/76B | €31,288 | €50,679 | +€19,391 | +62.0% |
| Recurring financial income | 75 | €31,288 | €50,679 | +€19,391 | +62.0% |
| Financial charges | 65/66B | €32,509 | €24,870 | -€7,639 | -23.5% |
| Recurring financial charges | 65 | €32,509 | €24,870 | -€7,639 | -23.5% |
| Profit (loss) for the period before taxes | 9903 | €59,853 | €105,702 | +€45,849 | +76.6% |
| Income taxes | 67/77 | €16,716 | €43,551 | +€26,836 | +160.5% |
| Profit (loss) for the period | 9904 | €43,137 | €62,150 | +€19,013 | +44.1% |
| Profit (loss) for the period to be appropriated | 9905 | €43,137 | €62,150 | +€19,013 | +44.1% |
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 4 October 2026 via checked.be.