LAUREL'S: 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.
LAUREL'S
Largest movements
- Cash +€339,877
up €339,877 (+1604.5%), from €21,182 to €361,060
mainly Other debts (+€193,492) and Net result for the year (+€81,161)
- Receivables within one year -€57,662
down €57,662 (-85.3%), from €67,590 to €9,928
of which Other amounts receivable: -€55,754
- Tangible fixed assets -€7,063
down €7,063 (-3.0%), from €234,810 to €227,747
of which Land and buildings: -€6,604
- Other debts +€193,492
new in 2025: €193,492
- Profit (loss) carried forward +€81,161
up €81,161 (+148.2%), from €54,755 to €135,917
- Tax, wage and social debts +€25,652
up €25,652 (+91.5%), from €28,049 to €53,701
- Debts after one year -€19,656
down €19,656 (-10.7%), from €184,453 to €164,797
- Gross operating margin +€49,553
up €49,553 (+58.5%), from €84,701 to €134,254
- Taxes +€9,952
up €9,952 (+71.2%), from €13,982 to €23,933
- Depreciation -€4,212
down €4,212 (-17.0%), from €24,729 to €20,517
- Financial income -€1,595
down €1,595 (-84.4%), from €1,891 to €296
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 | €325,257 | €602,375 | +€277,118 | +85.2% |
| Fixed assets | 21/28 | €234,810 | €227,747 | -€7,063 | -3.0% |
| Tangible fixed assets | 22/27 | €234,810 | €227,747 | -€7,063 | -3.0% |
| Land and buildings | 22 | €161,690 | €155,086 | -€6,604 | -4.1% |
| Furniture and vehicles | 24 | €69,898 | €64,040 | -€5,857 | -8.4% |
| Leasing and similar rights | 25 | €733 | €114 | -€619 | -84.5% |
| Other tangible fixed assets | 26 | €2,489 | €8,507 | +€6,018 | +241.8% |
| Current assets | 29/58 | €90,447 | €374,628 | +€284,180 | +314.2% |
| Amounts receivable within one year | 40/41 | €67,590 | €9,928 | -€57,662 | -85.3% |
| Trade receivables | 40 | €11,826 | €9,918 | -€1,908 | -16.1% |
| Other amounts receivable | 41 | €55,763 | €10 | -€55,754 | -100.0% |
| Cash at bank and in hand | 54/58 | €21,182 | €361,060 | +€339,877 | +1604.5% |
| Deferred charges and accrued income | 490/1 | €1,675 | €3,640 | +€1,965 | +117.3% |
| Total equity and liabilities | 10/49 | €325,257 | €602,375 | +€277,118 | +85.2% |
| Equity | 10/15 | €75,215 | €156,377 | +€81,161 | +107.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,755 | €135,917 | +€81,161 | +148.2% |
| Amounts payable | 17/49 | €250,042 | €445,998 | +€195,956 | +78.4% |
| Amounts payable after more than one year | 17 | €184,453 | €164,797 | -€19,656 | -10.7% |
| Financial debts | 170/4 | €184,453 | €164,797 | -€19,656 | -10.7% |
| Amounts payable within one year | 42/48 | €65,589 | €281,201 | +€215,612 | +328.7% |
| Current portion of amounts payable after more than one year | 42 | €19,310 | €19,656 | +€345 | +1.8% |
| Trade debts | 44 | €18,230 | €14,352 | -€3,878 | -21.3% |
| Suppliers | 440/4 | €18,230 | €14,352 | -€3,878 | -21.3% |
| Taxes, remuneration and social security | 45 | €28,049 | €53,701 | +€25,652 | +91.5% |
| Taxes | 450/3 | €28,049 | €53,701 | +€25,652 | +91.5% |
| Other amounts payable | 47/48 | - | €193,492 | +€193,492 | |
| Non-recurring operating income | 76A | €20 | - | -€20 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,729 | €20,517 | -€4,212 | -17.0% |
| Other operating charges | 640/8 | €2,747 | €2,705 | -€42 | -1.5% |
| Gross operating margin | 9900 | €84,701 | €134,254 | +€49,553 | +58.5% |
| Operating profit (loss) | 9901 | €57,225 | €111,032 | +€53,807 | +94.0% |
| Financial income | 75/76B | €1,891 | €296 | -€1,595 | -84.4% |
| Recurring financial income | 75 | €1,891 | €296 | -€1,595 | -84.4% |
| Financial charges | 65/66B | €4,957 | €6,233 | +€1,276 | +25.7% |
| Recurring financial charges | 65 | €4,957 | €6,233 | +€1,276 | +25.7% |
| Profit (loss) for the period before taxes | 9903 | €54,159 | €105,095 | +€50,936 | +94.0% |
| Income taxes | 67/77 | €13,982 | €23,933 | +€9,952 | +71.2% |
| Profit (loss) for the period | 9904 | €40,177 | €81,161 | +€40,984 | +102.0% |
| Profit (loss) for the period to be appropriated | 9905 | €40,177 | €81,161 | +€40,984 | +102.0% |
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 3 October 2026 via checked.be.