LAUREL: 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.
LAUREL
Largest movements
- Tangible fixed assets -€48,257
down €48,257 (-28.1%), from €171,727 to €123,470
- Deferred charges and accrued income -€29,833
down €29,833 (-61.7%), from €48,376 to €18,543
- Receivables within one year -€18,721
down €18,721 (-52.5%), from €35,639 to €16,918
of which Other amounts receivable: -€17,241
- Cash +€15,732
up €15,732 (+65.2%), from €24,117 to €39,849
mainly Depreciation (+€49,226) and Deferred charges and accrued income (+€29,833)
- Reserves -€69,730
down €69,730 (-70.3%), from €99,220 to €29,490
of which Distributable reserves: -€69,730
- Debts after one year -€31,162
down €31,162 (-36.5%), from €85,474 to €54,312
- Accrued charges and deferred income +€18,087
up €18,087 (+1205.8%), from €1,500 to €19,587
- Other debts +€12,268
up €12,268 (+306.7%), from €4,000 to €16,268
- Current portion of long-term debt -€6,519
down €6,519 (-14.7%), from €44,348 to €37,829
- Gross operating margin -€39,366
down €39,366 (-36.1%), from €109,022 to €69,656
- Other operating charges -€7,878
down €7,878 (-88.9%), from €8,864 to €986
- Taxes -€6,907
down €6,907 (-59.4%), from €11,619 to €4,712
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 | €279,859 | €198,780 | -€81,079 | -29.0% |
| Fixed assets | 21/28 | €171,727 | €123,470 | -€48,257 | -28.1% |
| Tangible fixed assets | 22/27 | €171,727 | €123,470 | -€48,257 | -28.1% |
| Land and buildings | 22 | €29,355 | €16,308 | -€13,047 | -44.4% |
| Plant, machinery and equipment | 23 | €934 | €735 | -€199 | -21.3% |
| Furniture and vehicles | 24 | €49,401 | €34,328 | -€15,073 | -30.5% |
| Other tangible fixed assets | 26 | €92,037 | €72,099 | -€19,938 | -21.7% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €108,132 | €75,310 | -€32,822 | -30.4% |
| Amounts receivable within one year | 40/41 | €35,639 | €16,918 | -€18,721 | -52.5% |
| Trade receivables | 40 | €1,480 | €0 | -€1,480 | -100.0% |
| Other amounts receivable | 41 | €34,159 | €16,918 | -€17,241 | -50.5% |
| Cash at bank and in hand | 54/58 | €24,117 | €39,849 | +€15,732 | +65.2% |
| Deferred charges and accrued income | 490/1 | €48,376 | €18,543 | -€29,833 | -61.7% |
| Total equity and liabilities | 10/49 | €279,859 | €198,780 | -€81,079 | -29.0% |
| Equity | 10/15 | €136,983 | €66,690 | -€70,293 | -51.3% |
| Contributions | 10/11 | €37,200 | €37,200 | = | 0.0% |
| Reserves | 13 | €99,220 | €29,490 | -€69,730 | -70.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €99,220 | €29,490 | -€69,730 | -70.3% |
| Profit (loss) carried forward | 14 | €563 | €0 | -€563 | -100.0% |
| Amounts payable | 17/49 | €142,876 | €132,090 | -€10,786 | -7.5% |
| Amounts payable after more than one year | 17 | €85,474 | €54,312 | -€31,162 | -36.5% |
| Financial debts | 170/4 | €85,474 | €54,312 | -€31,162 | -36.5% |
| Amounts payable within one year | 42/48 | €55,902 | €58,191 | +€2,289 | +4.1% |
| Current portion of amounts payable after more than one year | 42 | €44,348 | €37,829 | -€6,519 | -14.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €5,054 | €1,144 | -€3,910 | -77.4% |
| Suppliers | 440/4 | €5,054 | €1,144 | -€3,910 | -77.4% |
| Taxes, remuneration and social security | 45 | €2,500 | €2,950 | +€450 | +18.0% |
| Taxes | 450/3 | €2,500 | €2,950 | +€450 | +18.0% |
| Other amounts payable | 47/48 | €4,000 | €16,268 | +€12,268 | +306.7% |
| Accrued charges and deferred income | 492/3 | €1,500 | €19,587 | +€18,087 | +1205.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,727 | €49,226 | +€499 | +1.0% |
| Other operating charges | 640/8 | €8,864 | €986 | -€7,878 | -88.9% |
| Non-recurring operating charges | 66A | €87 | €316 | +€229 | +263.2% |
| Gross operating margin | 9900 | €109,022 | €69,656 | -€39,366 | -36.1% |
| Operating profit (loss) | 9901 | €51,344 | €19,128 | -€32,216 | -62.7% |
| Financial income | 75/76B | €1,989 | €1,399 | -€590 | -29.7% |
| Recurring financial income | 75 | €1,989 | €1,399 | -€590 | -29.7% |
| Financial charges | 65/66B | €2,954 | €3,108 | +€154 | +5.2% |
| Recurring financial charges | 65 | €2,954 | €3,108 | +€154 | +5.2% |
| Profit (loss) for the period before taxes | 9903 | €50,379 | €17,419 | -€32,960 | -65.4% |
| Income taxes | 67/77 | €11,619 | €4,712 | -€6,907 | -59.4% |
| Profit (loss) for the period | 9904 | €38,760 | €12,707 | -€26,053 | -67.2% |
| Profit (loss) for the period to be appropriated | 9905 | €38,760 | €12,707 | -€26,053 | -67.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.