LAURETUM: 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.
LAURETUM
Largest movements
- Tangible fixed assets -€119,084
down €119,084 (-7.2%), from €1.6m to €1.5m
of which Land and buildings: -€61,164
- Stocks and contracts +€64,572
up €64,572 (+4.1%), from €1.6m to €1.6m
- Cash -€62,533
down €62,533 (-31.5%), from €198,570 to €136,036
mainly Other debts (-€388,788) and Investment in fixed assets (net) (-€75,508)
- Current investments +€54,000
new in 2025: €54,000
- Other debts -€388,788
down €388,788 (-93.5%), from €415,691 to €26,903
- Debts after one year +€281,997
up €281,997 (+38.0%), from €742,421 to €1.0m
- Reserves +€53,810
up €53,810 (+7.0%), from €772,144 to €825,954
of which Distributable reserves: +€53,810
- Financial charges +€39,119
up €39,119 (+380%), from €10,285 to €49,404
- Staff costs +€29,069
up €29,069 (+19.2%), from €151,251 to €180,320
- Depreciation +€22,229
up €22,229 (+13.8%), from €161,327 to €183,556
- Gross operating margin +€20,996
up €20,996 (+4.3%), from €491,839 to €512,835
- Write-downs +€7,883
up €7,883, from -€7,883 to €0
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.
Derived cash bridge
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 | €3,503,860 | €3,435,521 | -€68,339 | -2.0% |
| Fixed assets | 21/28 | €1,645,271 | €1,537,223 | -€108,048 | -6.6% |
| Intangible fixed assets | 21 | - | €11,036 | +€11,036 | |
| Tangible fixed assets | 22/27 | €1,645,271 | €1,526,187 | -€119,084 | -7.2% |
| Land and buildings | 22 | €1,353,867 | €1,292,703 | -€61,164 | -4.5% |
| Plant, machinery and equipment | 23 | €83,462 | €37,123 | -€46,339 | -55.5% |
| Furniture and vehicles | 24 | €207,941 | €196,360 | -€11,581 | -5.6% |
| Current assets | 29/58 | €1,858,589 | €1,898,298 | +€39,709 | +2.1% |
| Stocks and contracts in progress | 3 | €1,565,519 | €1,630,090 | +€64,572 | +4.1% |
| Stocks | 30/36 | €1,565,519 | €1,630,090 | +€64,572 | +4.1% |
| Amounts receivable within one year | 40/41 | €82,964 | €70,112 | -€12,852 | -15.5% |
| Trade receivables | 40 | €75,632 | €58,583 | -€17,049 | -22.5% |
| Other amounts receivable | 41 | €7,332 | €11,530 | +€4,198 | +57.3% |
| Current investments | 50/53 | - | €54,000 | +€54,000 | |
| Cash at bank and in hand | 54/58 | €198,570 | €136,036 | -€62,533 | -31.5% |
| Deferred charges and accrued income | 490/1 | €11,537 | €8,059 | -€3,478 | -30.1% |
| Total equity and liabilities | 10/49 | €3,503,860 | €3,435,521 | -€68,339 | -2.0% |
| Equity | 10/15 | €2,154,012 | €2,207,821 | +€53,810 | +2.5% |
| Contributions | 10/11 | €1,198,401 | €1,198,401 | = | 0.0% |
| Reserves | 13 | €772,144 | €825,954 | +€53,810 | +7.0% |
| Non-distributable reserves | 130/1 | €50,010 | €50,010 | = | 0.0% |
| Reserves not available under the articles | 1311 | €50,010 | €50,010 | = | 0.0% |
| Distributable reserves | 133 | €722,134 | €775,943 | +€53,810 | +7.5% |
| Profit (loss) carried forward | 14 | €183,466 | €183,466 | = | 0.0% |
| Amounts payable | 17/49 | €1,349,848 | €1,227,700 | -€122,148 | -9.0% |
| Amounts payable after more than one year | 17 | €742,421 | €1,024,417 | +€281,997 | +38.0% |
| Financial debts | 170/4 | €742,421 | €1,024,417 | +€281,997 | +38.0% |
| Amounts payable within one year | 42/48 | €607,427 | €185,410 | -€422,017 | -69.5% |
| Current portion of amounts payable after more than one year | 42 | €105,170 | €98,003 | -€7,167 | -6.8% |
| Trade debts | 44 | €41,716 | €19,035 | -€22,681 | -54.4% |
| Suppliers | 440/4 | €41,716 | €19,035 | -€22,681 | -54.4% |
| Taxes, remuneration and social security | 45 | €44,850 | €41,468 | -€3,382 | -7.5% |
| Taxes | 450/3 | €28,422 | €20,648 | -€7,774 | -27.4% |
| Remuneration and social security | 454/9 | €16,428 | €20,821 | +€4,392 | +26.7% |
| Other amounts payable | 47/48 | €415,691 | €26,903 | -€388,788 | -93.5% |
| Accrued charges and deferred income | 492/3 | - | €17,872 | +€17,872 | |
| Non-recurring operating income | 76A | €4,500 | €0 | -€4,500 | -100% |
| Remuneration, social security and pensions | 62 | €151,251 | €180,320 | +€29,069 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €161,327 | €183,556 | +€22,229 | +13.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€7,883 | €0 | +€7,883 | |
| Other operating charges | 640/8 | €38,664 | €32,543 | -€6,121 | -15.8% |
| Gross operating margin | 9900 | €491,839 | €512,835 | +€20,996 | +4.3% |
| Operating profit (loss) | 9901 | €148,481 | €116,416 | -€32,065 | -21.6% |
| Financial income | 75/76B | €601 | €3,698 | +€3,097 | +515% |
| Recurring financial income | 75 | €601 | €3,698 | +€3,097 | +515% |
| Financial charges | 65/66B | €10,285 | €49,404 | +€39,119 | +380% |
| Recurring financial charges | 65 | €10,285 | €49,404 | +€39,119 | +380% |
| Profit (loss) for the period before taxes | 9903 | €138,798 | €70,710 | -€68,087 | -49.1% |
| Income taxes | 67/77 | €12,618 | €16,901 | +€4,283 | +33.9% |
| Profit (loss) for the period | 9904 | €126,180 | €53,810 | -€72,370 | -57.4% |
| Profit (loss) for the period to be appropriated | 9905 | €126,180 | €53,810 | -€72,370 | -57.4% |
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 20 October 2026 via checked.be.