LAUNCHPAD EUROPE: 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.
LAUNCHPAD EUROPE
Largest movements
- Cash -€30,930
down €30,930 (-24.1%), from €128,545 to €97,614
mainly Contributions, distributions and other (-€52,600) and Accrued charges and deferred income (-€2,712)
- Receivables within one year -€5,462
down €5,462 (-25.0%), from €21,841 to €16,380
of which Trade receivables: -€10,756
- Profit (loss) carried forward -€57,173
down €57,173 (-72.3%), from €79,055 to €21,883
- Contributions +€12,400
up €12,400 (+200%), from €6,200 to €18,600
- Trade debts +€6,143
up €6,143 (+52.1%), from €11,797 to €17,940
- Other debts +€3,749
up €3,749 (+7.3%), from €51,501 to €55,250
- Accrued charges and deferred income -€2,712
down €2,712 (-48.3%), from €5,618 to €2,906
- Gross operating margin +€1,726
up €1,726 (+20.0%), from €8,609 to €10,335
- Financial income +€1,057
up €1,057 (+853%), from €124 to €1,181
- Other operating charges +€818
up €818 (+649%), from €126 to €944
- Taxes +€424
up €424 (+19.4%), from €2,185 to €2,609
- Financial charges -€273
down €273 (-46.4%), from €589 to €316
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 | €158,544 | €120,635 | -€37,909 | -23.9% |
| Current assets | 29/58 | €158,544 | €120,635 | -€37,909 | -23.9% |
| Stocks and contracts in progress | 3 | €7,987 | €6,641 | -€1,345 | -16.8% |
| Stocks | 30/36 | €7,987 | €6,641 | -€1,345 | -16.8% |
| Amounts receivable within one year | 40/41 | €21,841 | €16,380 | -€5,462 | -25.0% |
| Trade receivables | 40 | €21,841 | €11,085 | -€10,756 | -49.2% |
| Other amounts receivable | 41 | - | €5,294 | +€5,294 | |
| Cash at bank and in hand | 54/58 | €128,545 | €97,614 | -€30,930 | -24.1% |
| Deferred charges and accrued income | 490/1 | €171 | €0 | -€171 | -100% |
| Total equity and liabilities | 10/49 | €158,544 | €120,635 | -€37,909 | -23.9% |
| Equity | 10/15 | €87,115 | €42,343 | -€44,773 | -51.4% |
| Contributions | 10/11 | €6,200 | €18,600 | +€12,400 | +200% |
| 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 | €79,055 | €21,883 | -€57,173 | -72.3% |
| Amounts payable | 17/49 | €71,429 | €78,292 | +€6,863 | +9.6% |
| Amounts payable within one year | 42/48 | €65,810 | €75,386 | +€9,576 | +14.6% |
| Financial debts | 43 | €0 | €11 | +€11 | |
| Credit institutions | 430/8 | €0 | €11 | +€11 | |
| Trade debts | 44 | €11,797 | €17,940 | +€6,143 | +52.1% |
| Suppliers | 440/4 | €11,797 | €17,940 | +€6,143 | +52.1% |
| Taxes, remuneration and social security | 45 | €2,513 | €2,185 | -€328 | -13.1% |
| Taxes | 450/3 | €2,513 | €2,185 | -€328 | -13.1% |
| Other amounts payable | 47/48 | €51,501 | €55,250 | +€3,749 | +7.3% |
| Accrued charges and deferred income | 492/3 | €5,618 | €2,906 | -€2,712 | -48.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€180 | -€180 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €126 | €944 | +€818 | +649% |
| Gross operating margin | 9900 | €8,609 | €10,335 | +€1,726 | +20.0% |
| Operating profit (loss) | 9901 | €8,483 | €9,571 | +€1,088 | +12.8% |
| Financial income | 75/76B | €124 | €1,181 | +€1,057 | +853% |
| Recurring financial income | 75 | €124 | €1,181 | +€1,057 | +853% |
| Financial charges | 65/66B | €589 | €316 | -€273 | -46.4% |
| Recurring financial charges | 65 | €589 | €316 | -€273 | -46.4% |
| Profit (loss) for the period before taxes | 9903 | €8,019 | €10,437 | +€2,418 | +30.2% |
| Income taxes | 67/77 | €2,185 | €2,609 | +€424 | +19.4% |
| Profit (loss) for the period | 9904 | €5,834 | €7,827 | +€1,994 | +34.2% |
| Profit (loss) for the period to be appropriated | 9905 | €5,834 | €7,827 | +€1,994 | +34.2% |
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 30 October 2026 via checked.be.