LAURENCE: 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.
LAURENCE
Largest movements
- Cash +€37,963
up €37,963 (+48.5%), from €78,278 to €116,241
mainly Net result for the year (+€33,853) and Depreciation (+€6,446)
- Reserves +€33,853
up €33,853 (+60.9%), from €55,609 to €89,462
- Trade debts +€5,771
up €5,771 (+147.7%), from €3,907 to €9,679
- Debts after one year -€3,780
down €3,780 (-43.5%), from €8,690 to €4,910
- Gross operating margin -€12,965
down €12,965 (-17.3%), from €74,763 to €61,798
- Taxes -€1,998
down €1,998 (-10.5%), from €19,048 to €17,050
- Depreciation +€898
up €898 (+16.2%), from €5,548 to €6,446
- Other operating charges -€853
down €853 (-55.9%), from €1,526 to €674
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 | €110,706 | €147,539 | +€36,833 | +33.3% |
| Fixed assets | 21/28 | €26,803 | €25,257 | -€1,546 | -5.8% |
| Intangible fixed assets | 21 | €2,000 | €1,500 | -€500 | -25.0% |
| Tangible fixed assets | 22/27 | €24,803 | €23,757 | -€1,046 | -4.2% |
| Plant, machinery and equipment | 23 | €9,151 | €8,853 | -€299 | -3.3% |
| Furniture and vehicles | 24 | €15,652 | €14,905 | -€748 | -4.8% |
| Current assets | 29/58 | €83,903 | €122,282 | +€38,379 | +45.7% |
| Stocks and contracts in progress | 3 | €1,174 | €1,178 | +€4 | +0.3% |
| Stocks | 30/36 | €1,174 | €1,178 | +€4 | +0.3% |
| Amounts receivable within one year | 40/41 | €2,046 | €2,449 | +€404 | +19.7% |
| Other amounts receivable | 41 | €2,046 | €2,449 | +€404 | +19.7% |
| Current investments | 50/53 | €2,250 | €2,250 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €78,278 | €116,241 | +€37,963 | +48.5% |
| Deferred charges and accrued income | 490/1 | €155 | €163 | +€8 | +5.3% |
| Total equity and liabilities | 10/49 | €110,706 | €147,539 | +€36,833 | +33.3% |
| Equity | 10/15 | €61,809 | €95,662 | +€33,853 | +54.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €55,609 | €89,462 | +€33,853 | +60.9% |
| Distributable reserves | 133 | €55,609 | €89,462 | +€33,853 | +60.9% |
| Amounts payable | 17/49 | €48,898 | €51,877 | +€2,979 | +6.1% |
| Amounts payable after more than one year | 17 | €8,690 | €4,910 | -€3,780 | -43.5% |
| Financial debts | 170/4 | €8,690 | €4,910 | -€3,780 | -43.5% |
| Amounts payable within one year | 42/48 | €40,008 | €46,076 | +€6,068 | +15.2% |
| Current portion of amounts payable after more than one year | 42 | €3,652 | €3,780 | +€128 | +3.5% |
| Trade debts | 44 | €3,907 | €9,679 | +€5,771 | +147.7% |
| Suppliers | 440/4 | €3,907 | €9,679 | +€5,771 | +147.7% |
| Taxes, remuneration and social security | 45 | €4,579 | €4,579 | = | 0.0% |
| Taxes | 450/3 | €1,079 | €1,079 | = | 0.0% |
| Remuneration and social security | 454/9 | €3,500 | €3,500 | = | 0.0% |
| Other amounts payable | 47/48 | €27,869 | €28,038 | +€170 | +0.6% |
| Accrued charges and deferred income | 492/3 | €200 | €891 | +€691 | +345.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,548 | €6,446 | +€898 | +16.2% |
| Other operating charges | 640/8 | €1,526 | €674 | -€853 | -55.9% |
| Gross operating margin | 9900 | €74,763 | €61,798 | -€12,965 | -17.3% |
| Operating profit (loss) | 9901 | €67,688 | €54,678 | -€13,010 | -19.2% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €3,347 | €3,775 | +€428 | +12.8% |
| Recurring financial charges | 65 | €3,347 | €3,775 | +€428 | +12.8% |
| Profit (loss) for the period before taxes | 9903 | €64,342 | €50,903 | -€13,439 | -20.9% |
| Income taxes | 67/77 | €19,048 | €17,050 | -€1,998 | -10.5% |
| Profit (loss) for the period | 9904 | €45,295 | €33,853 | -€11,441 | -25.3% |
| Profit (loss) for the period to be appropriated | 9905 | €45,295 | €33,853 | -€11,441 | -25.3% |
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 11 October 2026 via checked.be.