LAUCODI: 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.
LAUCODI
Largest movements
- Stocks and contracts +€62,386
up €62,386 (+29.8%), from €209,481 to €271,867
- Cash +€39,349
up €39,349 (+81.2%), from €48,481 to €87,829
mainly Net result for the year (+€84,497) and Deferred charges and accrued income (+€30,574)
- Deferred charges and accrued income -€30,574
down €30,574 (-71.7%), from €42,646 to €12,072
- Receivables within one year +€20,349
up €20,349 (+36.6%), from €55,655 to €76,005
of which Trade receivables: +€23,485
- Tangible fixed assets -€5,457
down €5,457 (-18.6%), from €29,379 to €23,922
of which Plant, machinery and equipment: -€5,056
- Reserves +€60,000
up €60,000 (+20.3%), from €295,342 to €355,342
- Profit (loss) carried forward +€24,497
up €24,497 (+110%), from €22,182 to €46,679
- Write-downs -€19,295
no longer reported in 2025 (was €19,295)
- Taxes +€7,074
up €7,074 (+28.3%), from €24,980 to €32,054
- Gross operating margin +€5,798
up €5,798 (+4.8%), from €121,265 to €127,063
- Depreciation +€1,607
up €1,607 (+41.8%), from €3,850 to €5,457
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 | €386,135 | €472,189 | +€86,054 | +22.3% |
| Fixed assets | 21/28 | €29,873 | €24,416 | -€5,457 | -18.3% |
| Tangible fixed assets | 22/27 | €29,379 | €23,922 | -€5,457 | -18.6% |
| Plant, machinery and equipment | 23 | €26,931 | €21,876 | -€5,056 | -18.8% |
| Furniture and vehicles | 24 | €2,448 | €2,047 | -€401 | -16.4% |
| Financial fixed assets | 28 | €494 | €494 | = | 0.0% |
| Current assets | 29/58 | €356,262 | €447,772 | +€91,511 | +25.7% |
| Stocks and contracts in progress | 3 | €209,481 | €271,867 | +€62,386 | +29.8% |
| Stocks | 30/36 | €209,481 | €271,867 | +€62,386 | +29.8% |
| Amounts receivable within one year | 40/41 | €55,655 | €76,005 | +€20,349 | +36.6% |
| Trade receivables | 40 | €47,318 | €70,803 | +€23,485 | +49.6% |
| Other amounts receivable | 41 | €8,337 | €5,202 | -€3,135 | -37.6% |
| Cash at bank and in hand | 54/58 | €48,481 | €87,829 | +€39,349 | +81.2% |
| Deferred charges and accrued income | 490/1 | €42,646 | €12,072 | -€30,574 | -71.7% |
| Total equity and liabilities | 10/49 | €386,135 | €472,189 | +€86,054 | +22.3% |
| Equity | 10/15 | €317,525 | €402,022 | +€84,497 | +26.6% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €295,342 | €355,342 | +€60,000 | +20.3% |
| Distributable reserves | 133 | €295,342 | €355,342 | +€60,000 | +20.3% |
| Profit (loss) carried forward | 14 | €22,182 | €46,679 | +€24,497 | +110% |
| Amounts payable | 17/49 | €68,610 | €70,166 | +€1,556 | +2.3% |
| Amounts payable within one year | 42/48 | €68,610 | €66,496 | -€2,114 | -3.1% |
| Trade debts | 44 | €3,891 | €655 | -€3,237 | -83.2% |
| Suppliers | 440/4 | €3,891 | €655 | -€3,237 | -83.2% |
| Taxes, remuneration and social security | 45 | €9,362 | €6,635 | -€2,727 | -29.1% |
| Taxes | 450/3 | €6,158 | €6,635 | +€477 | +7.7% |
| Remuneration and social security | 454/9 | €3,203 | - | -€3,203 | |
| Other amounts payable | 47/48 | €55,357 | €59,206 | +€3,849 | +7.0% |
| Accrued charges and deferred income | 492/3 | - | €3,671 | +€3,671 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,850 | €5,457 | +€1,607 | +41.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €19,295 | - | -€19,295 | |
| Other operating charges | 640/8 | €1,026 | €955 | -€71 | -6.9% |
| Gross operating margin | 9900 | €121,265 | €127,063 | +€5,798 | +4.8% |
| Operating profit (loss) | 9901 | €97,095 | €120,651 | +€23,556 | +24.3% |
| Financial income | 75/76B | €600 | €288 | -€312 | -52.0% |
| Recurring financial income | 75 | €600 | €288 | -€312 | -52.0% |
| Financial charges | 65/66B | €4,325 | €4,388 | +€63 | +1.5% |
| Recurring financial charges | 65 | €4,325 | €4,388 | +€63 | +1.5% |
| Profit (loss) for the period before taxes | 9903 | €93,370 | €116,551 | +€23,181 | +24.8% |
| Income taxes | 67/77 | €24,980 | €32,054 | +€7,074 | +28.3% |
| Profit (loss) for the period | 9904 | €68,390 | €84,497 | +€16,107 | +23.6% |
| Profit (loss) for the period to be appropriated | 9905 | €68,390 | €84,497 | +€16,107 | +23.6% |
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 15 October 2026 via checked.be.