LAUMAX: 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.
LAUMAX
Largest movements
- Deferred charges and accrued income -€74,996
down €74,996 (-99.9%), from €75,079 to €83
- Receivables within one year +€25,360
up €25,360 (+4,492%), from €565 to €25,925
- Other debts -€83,126
down €83,126 (-29.3%), from €283,535 to €200,408
- Profit (loss) carried forward +€76,062
up €76,062 (+10.3%), from -€735,627 to -€659,565
- Current portion of long-term debt -€27,716
no longer reported in 2025 (was €27,716)
- Gross operating margin +€108,920
up €108,920 (+1,898%), from €5,740 to €114,660
- Financial income -€75,227
no longer reported in 2025 (was €75,227)
- Financial charges -€10,076
down €10,076 (-36.5%), from €27,582 to €17,505
- Other operating charges -€1,534
down €1,534 (-32.7%), from €4,692 to €3,158
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 | €983,188 | €940,352 | -€42,836 | -4.4% |
| Fixed assets | 21/28 | €859,426 | €859,492 | +€66 | 0.0% |
| Tangible fixed assets | 22/27 | €857,319 | €857,385 | +€66 | 0.0% |
| Land and buildings | 22 | €856,647 | €839,977 | -€16,670 | -1.9% |
| Furniture and vehicles | 24 | €672 | €17,408 | +€16,736 | +2,490% |
| Financial fixed assets | 28 | €2,107 | €2,107 | = | 0.0% |
| Current assets | 29/58 | €123,762 | €80,860 | -€42,902 | -34.7% |
| Amounts receivable within one year | 40/41 | €565 | €25,925 | +€25,360 | +4,492% |
| Trade receivables | 40 | €565 | €25,925 | +€25,360 | +4,492% |
| Cash at bank and in hand | 54/58 | €48,119 | €54,853 | +€6,734 | +14.0% |
| Deferred charges and accrued income | 490/1 | €75,079 | €83 | -€74,996 | -99.9% |
| Total equity and liabilities | 10/49 | €983,188 | €940,352 | -€42,836 | -4.4% |
| Equity | 10/15 | €623,273 | €699,335 | +€76,062 | +12.2% |
| Contributions | 10/11 | €1,357,040 | €1,357,040 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€735,627 | -€659,565 | +€76,062 | +10.3% |
| Amounts payable | 17/49 | €359,916 | €241,017 | -€118,899 | -33.0% |
| Amounts payable within one year | 42/48 | €340,067 | €227,801 | -€112,266 | -33.0% |
| Current portion of amounts payable after more than one year | 42 | €27,716 | - | -€27,716 | |
| Trade debts | 44 | €8,404 | €8,992 | +€588 | +7.0% |
| Suppliers | 440/4 | €8,404 | €8,992 | +€588 | +7.0% |
| Taxes, remuneration and social security | 45 | €20,412 | €18,400 | -€2,012 | -9.9% |
| Taxes | 450/3 | €20,412 | €18,400 | -€2,012 | -9.9% |
| Other amounts payable | 47/48 | €283,535 | €200,408 | -€83,126 | -29.3% |
| Accrued charges and deferred income | 492/3 | €19,849 | €13,216 | -€6,633 | -33.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,405 | €17,934 | +€529 | +3.0% |
| Other operating charges | 640/8 | €4,692 | €3,158 | -€1,534 | -32.7% |
| Gross operating margin | 9900 | €5,740 | €114,660 | +€108,920 | +1,898% |
| Operating profit (loss) | 9901 | -€16,357 | €93,568 | +€109,924 | |
| Financial income | 75/76B | €75,227 | - | -€75,227 | |
| Recurring financial income | 75 | €75,227 | - | -€75,227 | |
| Financial charges | 65/66B | €27,582 | €17,505 | -€10,076 | -36.5% |
| Recurring financial charges | 65 | €27,582 | €17,505 | -€10,076 | -36.5% |
| Profit (loss) for the period before taxes | 9903 | €31,289 | €76,062 | +€44,774 | +143% |
| Profit (loss) for the period | 9904 | €31,289 | €76,062 | +€44,774 | +143% |
| Profit (loss) for the period to be appropriated | 9905 | €31,289 | €76,062 | +€44,774 | +143% |
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 23 October 2026 via checked.be.