LAUNI: 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.
LAUNI
Largest movements
- Current investments +€95,433
up €95,433 (+14.3%), from €668,583 to €764,016
- Cash -€73,204
down €73,204 (-59.1%), from €123,831 to €50,628
mainly Current investments (-€95,433) and Net result for the year (-€49,036)
- Tangible fixed assets -€69,387
down €69,387 (-3.7%), from €1.9m to €1.8m
- Reserves -€49,036
down €49,036 (-2.0%), from €2.5m to €2.5m
of which Distributable reserves: -€41,657
- Financial income -€7,138
down €7,138 (-49.4%), from €14,464 to €7,326
- Gross operating margin +€6,522
up €6,522 (+33.2%), from €19,649 to €26,171
- Depreciation +€2,434
up €2,434 (+3.6%), from €66,953 to €69,387
- Other operating charges -€1,581
down €1,581 (-13.2%), from €11,967 to €10,387
- Financial charges +€572
up €572 (+10.7%), from €5,351 to €5,923
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 | €2,665,105 | €2,617,785 | -€47,320 | -1.8% |
| Fixed assets | 21/28 | €1,856,834 | €1,787,447 | -€69,387 | -3.7% |
| Tangible fixed assets | 22/27 | €1,856,760 | €1,787,372 | -€69,387 | -3.7% |
| Land and buildings | 22 | €1,856,760 | €1,787,372 | -€69,387 | -3.7% |
| Financial fixed assets | 28 | €74 | €74 | = | 0.0% |
| Current assets | 29/58 | €808,271 | €830,338 | +€22,067 | +2.7% |
| Amounts receivable within one year | 40/41 | €15,000 | €10,763 | -€4,236 | -28.2% |
| Trade receivables | 40 | €4,756 | €4,521 | -€236 | -5.0% |
| Other amounts receivable | 41 | €10,243 | €6,242 | -€4,001 | -39.1% |
| Current investments | 50/53 | €668,583 | €764,016 | +€95,433 | +14.3% |
| Cash at bank and in hand | 54/58 | €123,831 | €50,628 | -€73,204 | -59.1% |
| Deferred charges and accrued income | 490/1 | €857 | €4,931 | +€4,074 | +475.4% |
| Total equity and liabilities | 10/49 | €2,665,105 | €2,617,785 | -€47,320 | -1.8% |
| Equity | 10/15 | €2,564,426 | €2,515,389 | -€49,036 | -1.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,502,426 | €2,453,389 | -€49,036 | -2.0% |
| Non-distributable reserves | 130/1 | €45,408 | €45,408 | = | 0.0% |
| Legal reserve | 130 | €45,408 | €45,408 | = | 0.0% |
| Tax-exempt reserves | 132 | €187,480 | €180,100 | -€7,379 | -3.9% |
| Distributable reserves | 133 | €2,269,538 | €2,227,881 | -€41,657 | -1.8% |
| Provisions and deferred taxes | 16 | €96,537 | €92,738 | -€3,800 | -3.9% |
| Deferred taxes | 168 | €96,537 | €92,738 | -€3,800 | -3.9% |
| Amounts payable | 17/49 | €4,142 | €9,658 | +€5,516 | +133.2% |
| Amounts payable within one year | 42/48 | €3,992 | €9,658 | +€5,666 | +141.9% |
| Trade debts | 44 | €3,232 | €8,758 | +€5,526 | +171.0% |
| Suppliers | 440/4 | €3,232 | €8,758 | +€5,526 | +171.0% |
| Taxes, remuneration and social security | 45 | - | €140 | +€140 | |
| Taxes | 450/3 | - | €140 | +€140 | |
| Other amounts payable | 47/48 | €760 | €760 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €150 | €0 | -€150 | -100.0% |
| Non-recurring operating income | 76A | €582 | €0 | -€582 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,953 | €69,387 | +€2,434 | +3.6% |
| Other operating charges | 640/8 | €11,967 | €10,387 | -€1,581 | -13.2% |
| Gross operating margin | 9900 | €19,649 | €26,171 | +€6,522 | +33.2% |
| Operating profit (loss) | 9901 | -€59,272 | -€53,603 | +€5,668 | +9.6% |
| Financial income | 75/76B | €14,464 | €7,326 | -€7,138 | -49.4% |
| Recurring financial income | 75 | €14,464 | €7,326 | -€7,138 | -49.4% |
| Financial charges | 65/66B | €5,351 | €5,923 | +€572 | +10.7% |
| Recurring financial charges | 65 | €5,351 | €5,923 | +€572 | +10.7% |
| Profit (loss) for the period before taxes | 9903 | -€50,159 | -€52,201 | -€2,042 | -4.1% |
| Transfer from deferred taxes | 780 | €3,800 | €3,800 | = | 0.0% |
| Income taxes | 67/77 | €495 | €635 | +€140 | +28.3% |
| Profit (loss) for the period | 9904 | -€46,854 | -€49,036 | -€2,182 | -4.7% |
| Transfer from tax-exempt reserves | 789 | €7,379 | €7,379 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€39,475 | -€41,657 | -€2,182 | -5.5% |
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 8 October 2026 via checked.be.