LAUBEL: 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.
LAUBEL
Largest movements
- Cash -€28,666
down €28,666 (-40.9%), from €70,006 to €41,341
mainly Investment in fixed assets (net) (-€32,762) and Contributions, distributions and other (-€18,000)
- Tangible fixed assets +€20,058
up €20,058 (+12.9%), from €155,734 to €175,792
of which Other tangible fixed assets: +€27,471
- Receivables within one year -€6,414
down €6,414 (-29.9%), from €21,430 to €15,016
of which Trade receivables: -€5,418
- Debts after one year -€7,741
down €7,741 (-29.4%), from €26,328 to €18,587
- Reserves -€6,079
down €6,079 (-4.3%), from €142,579 to €136,499
- Depreciation +€2,902
up €2,902 (+29.6%), from €9,801 to €12,703
- Financial charges +€2,322
up €2,322 (+124%), from €1,867 to €4,188
of which Non-recurring financial charges: +€2,500
- Gross operating margin +€1,737
up €1,737 (+5.0%), from €34,414 to €36,151
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.
Derived cash bridge
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 | €250,025 | €235,093 | -€14,933 | -6.0% |
| Fixed assets | 21/28 | €155,764 | €175,822 | +€20,058 | +12.9% |
| Tangible fixed assets | 22/27 | €155,734 | €175,792 | +€20,058 | +12.9% |
| Land and buildings | 22 | €139,554 | €133,171 | -€6,383 | -4.6% |
| Plant, machinery and equipment | 23 | €4,626 | €3,596 | -€1,030 | -22.3% |
| Furniture and vehicles | 24 | €2,090 | €2,090 | = | 0.0% |
| Other tangible fixed assets | 26 | €9,464 | €36,936 | +€27,471 | +290% |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €94,261 | €59,271 | -€34,991 | -37.1% |
| Amounts receivable within one year | 40/41 | €21,430 | €15,016 | -€6,414 | -29.9% |
| Trade receivables | 40 | €5,418 | - | -€5,418 | |
| Other amounts receivable | 41 | €16,013 | €15,016 | -€997 | -6.2% |
| Cash at bank and in hand | 54/58 | €70,006 | €41,341 | -€28,666 | -40.9% |
| Deferred charges and accrued income | 490/1 | €2,825 | €2,914 | +€89 | +3.2% |
| Total equity and liabilities | 10/49 | €250,025 | €235,093 | -€14,933 | -6.0% |
| Equity | 10/15 | €167,609 | €161,529 | -€6,079 | -3.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €142,579 | €136,499 | -€6,079 | -4.3% |
| Distributable reserves | 133 | €142,579 | €136,499 | -€6,079 | -4.3% |
| Profit (loss) carried forward | 14 | €30 | €30 | = | 0.0% |
| Amounts payable | 17/49 | €82,417 | €73,563 | -€8,853 | -10.7% |
| Amounts payable after more than one year | 17 | €26,328 | €18,587 | -€7,741 | -29.4% |
| Financial debts | 170/4 | €26,328 | €18,587 | -€7,741 | -29.4% |
| Amounts payable within one year | 42/48 | €56,088 | €54,976 | -€1,112 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €17,895 | €18,187 | +€293 | +1.6% |
| Trade debts | 44 | €3,645 | €1,346 | -€2,299 | -63.1% |
| Suppliers | 440/4 | €3,645 | €1,346 | -€2,299 | -63.1% |
| Taxes, remuneration and social security | 45 | €5,868 | €5,650 | -€218 | -3.7% |
| Taxes | 450/3 | €5,868 | €5,650 | -€218 | -3.7% |
| Other amounts payable | 47/48 | €28,681 | €29,793 | +€1,112 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,801 | €12,703 | +€2,902 | +29.6% |
| Other operating charges | 640/8 | €2,629 | €2,443 | -€186 | -7.1% |
| Gross operating margin | 9900 | €34,414 | €36,151 | +€1,737 | +5.0% |
| Operating profit (loss) | 9901 | €21,983 | €21,005 | -€978 | -4.5% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €1,867 | €4,188 | +€2,322 | +124% |
| Recurring financial charges | 65 | €1,867 | €1,688 | -€178 | -9.5% |
| Non-recurring financial charges | 66B | - | €2,500 | +€2,500 | |
| Profit (loss) for the period before taxes | 9903 | €20,117 | €16,817 | -€3,300 | -16.4% |
| Income taxes | 67/77 | €5,088 | €4,896 | -€192 | -3.8% |
| Profit (loss) for the period | 9904 | €15,029 | €11,921 | -€3,108 | -20.7% |
| Profit (loss) for the period to be appropriated | 9905 | €15,029 | €11,921 | -€3,108 | -20.7% |
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 17 October 2026 via checked.be.