LAUREM: 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.
LAUREM
Largest movements
- Tangible fixed assets -€34,590
down €34,590 (-5.0%), from €688,437 to €653,848
of which Land and buildings: -€32,055
- Receivables within one year -€18,480
no longer reported in 2025 (was €18,480)
of which Other amounts receivable: -€15,480
- Reserves -€36,463
down €36,463 (-9.5%), from €382,887 to €346,424
of which Distributable reserves: -€29,123
- Gross operating margin -€2,069
down €2,069 (-24.6%), from €8,425 to €6,356
- Financial income +€737
up €737 (+2.6%), from €28,870 to €29,607
- Depreciation -€629
down €629 (-1.8%), from €34,970 to €34,342
- Other operating charges +€391
up €391 (+5.6%), from €6,999 to €7,390
- Taxes -€107
down €107 (-13.0%), from €821 to €714
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 | €903,313 | €857,210 | -€46,103 | -5.1% |
| Fixed assets | 21/28 | €757,054 | €722,465 | -€34,590 | -4.6% |
| Tangible fixed assets | 22/27 | €688,437 | €653,848 | -€34,590 | -5.0% |
| Land and buildings | 22 | €683,218 | €651,163 | -€32,055 | -4.7% |
| Plant, machinery and equipment | 23 | €1,791 | €723 | -€1,068 | -59.6% |
| Furniture and vehicles | 24 | €3,428 | €1,961 | -€1,467 | -42.8% |
| Financial fixed assets | 28 | €68,617 | €68,617 | = | 0.0% |
| Current assets | 29/58 | €146,259 | €134,746 | -€11,513 | -7.9% |
| Amounts receivable within one year | 40/41 | €18,480 | - | -€18,480 | |
| Trade receivables | 40 | €3,000 | - | -€3,000 | |
| Other amounts receivable | 41 | €15,480 | - | -€15,480 | |
| Current investments | 50/53 | €79,289 | €79,587 | +€298 | +0.4% |
| Cash at bank and in hand | 54/58 | €47,685 | €54,409 | +€6,724 | +14.1% |
| Deferred charges and accrued income | 490/1 | €805 | €750 | -€55 | -6.8% |
| Total equity and liabilities | 10/49 | €903,313 | €857,210 | -€46,103 | -5.1% |
| Equity | 10/15 | €780,117 | €743,700 | -€36,417 | -4.7% |
| Contributions | 10/11 | €242,000 | €242,000 | = | 0.0% |
| Capital | 10 | €242,000 | €242,000 | = | 0.0% |
| Issued capital | 100 | €242,000 | €242,000 | = | 0.0% |
| Reserves | 13 | €382,887 | €346,424 | -€36,463 | -9.5% |
| Non-distributable reserves | 130/1 | €24,200 | €24,200 | = | 0.0% |
| Legal reserve | 130 | €24,200 | €24,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €153,597 | €146,256 | -€7,340 | -4.8% |
| Distributable reserves | 133 | €205,090 | €175,968 | -€29,123 | -14.2% |
| Profit (loss) carried forward | 14 | €155,230 | €155,276 | +€46 | 0.0% |
| Provisions and deferred taxes | 16 | €79,090 | €75,311 | -€3,780 | -4.8% |
| Deferred taxes | 168 | €79,090 | €75,311 | -€3,780 | -4.8% |
| Amounts payable | 17/49 | €44,106 | €38,200 | -€5,906 | -13.4% |
| Amounts payable after more than one year | 17 | €33,690 | €25,895 | -€7,796 | -23.1% |
| Financial debts | 170/4 | €33,690 | €25,895 | -€7,796 | -23.1% |
| Amounts payable within one year | 42/48 | €9,569 | €11,451 | +€1,882 | +19.7% |
| Current portion of amounts payable after more than one year | 42 | €7,716 | €7,796 | +€79 | +1.0% |
| Trade debts | 44 | €101 | €1,165 | +€1,064 | +1056.4% |
| Suppliers | 440/4 | €101 | €1,165 | +€1,064 | +1056.4% |
| Taxes, remuneration and social security | 45 | €1,752 | €2,262 | +€510 | +29.1% |
| Taxes | 450/3 | €1,752 | €2,262 | +€510 | +29.1% |
| Other amounts payable | 47/48 | - | €229 | +€229 | |
| Accrued charges and deferred income | 492/3 | €846 | €854 | +€8 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,970 | €34,342 | -€629 | -1.8% |
| Other operating charges | 640/8 | €6,999 | €7,390 | +€391 | +5.6% |
| Gross operating margin | 9900 | €8,425 | €6,356 | -€2,069 | -24.6% |
| Operating profit (loss) | 9901 | -€33,545 | -€35,376 | -€1,831 | -5.5% |
| Financial income | 75/76B | €28,870 | €29,607 | +€737 | +2.6% |
| Recurring financial income | 75 | €28,870 | €29,607 | +€737 | +2.6% |
| Financial charges | 65/66B | €773 | €692 | -€81 | -10.5% |
| Recurring financial charges | 65 | €773 | €692 | -€81 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | -€5,448 | -€6,461 | -€1,013 | -18.6% |
| Transfer from deferred taxes | 780 | €3,780 | €3,780 | +€0 | 0.0% |
| Income taxes | 67/77 | €821 | €714 | -€107 | -13.0% |
| Profit (loss) for the period | 9904 | -€2,489 | -€3,394 | -€906 | -36.4% |
| Transfer from tax-exempt reserves | 789 | €7,340 | €7,340 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,852 | €3,946 | -€906 | -18.7% |
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 5 October 2026 via checked.be.