LAURINA: 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.
LAURINA
Largest movements
- Financial fixed assets -€13.8m
down €13.8m (-23.1%), from €59.7m to €45.9m
- Current investments +€3.4m
up €3.4m (+53.7%), from €6.3m to €9.6m
- Receivables within one year -€833,976
down €833,976 (-25.1%), from €3.3m to €2.5m
of which Other amounts receivable: -€671,935
- Debts after one year -€11.9m
down €11.9m (-22.7%), from €52.5m to €40.6m
- Profit (loss) carried forward +€1.1m
up €1.1m (+0.7%), from -€153.8m to -€152.7m
- Financial income -€20.9m
down €20.9m (-74.5%), from €28.0m to €7.2m
of which Non-recurring financial income: -€27.5m
- Financial charges +€6.4m
up €6.4m (+4,428%), from €144,564 to €6.5m
of which Non-recurring financial charges: +€5.8m
- Gross operating margin -€442,068
down €442,068 (-41.8%), from €1.1m to €616,327
- Taxes -€213,920
down €213,920 (-58.6%), from €365,272 to €151,351
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 | €71,140,157 | €60,225,182 | -€10.9m | -15.3% |
| Fixed assets | 21/28 | €59,727,723 | €45,934,650 | -€13.8m | -23.1% |
| Financial fixed assets | 28 | €59,727,723 | €45,934,650 | -€13.8m | -23.1% |
| Current assets | 29/58 | €11,412,434 | €14,290,533 | +€2.9m | +25.2% |
| Amounts receivable after more than one year | 29 | €1,337,654 | €1,337,654 | = | 0.0% |
| Other amounts receivable | 291 | €1,337,654 | €1,337,654 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,322,700 | €2,488,724 | -€833,976 | -25.1% |
| Trade receivables | 40 | €662,870 | €500,829 | -€162,041 | -24.4% |
| Other amounts receivable | 41 | €2,659,830 | €1,987,895 | -€671,935 | -25.3% |
| Current investments | 50/53 | €6,265,909 | €9,627,766 | +€3.4m | +53.7% |
| Cash at bank and in hand | 54/58 | €428,620 | €712,231 | +€283,610 | +66.2% |
| Deferred charges and accrued income | 490/1 | €57,551 | €124,158 | +€66,607 | +116% |
| Total equity and liabilities | 10/49 | €71,140,157 | €60,225,182 | -€10.9m | -15.3% |
| Equity | 10/15 | €16,378,148 | €17,452,771 | +€1.1m | +6.6% |
| Contributions | 10/11 | €166,824,677 | €166,824,677 | = | 0.0% |
| Capital | 10 | - | €166,824,677 | +€166.8m | |
| Issued capital | 100 | - | €166,824,677 | +€166.8m | |
| Reserves | 13 | €3,366,062 | €3,366,062 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,366,062 | €3,366,062 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,366,062 | €3,366,062 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€153,812,591 | -€152,737,967 | +€1.1m | +0.7% |
| Amounts payable | 17/49 | €54,762,009 | €42,772,411 | -€12.0m | -21.9% |
| Amounts payable after more than one year | 17 | €52,462,170 | €40,579,056 | -€11.9m | -22.7% |
| Financial debts | 170/4 | €52,462,170 | €40,579,056 | -€11.9m | -22.7% |
| Amounts payable within one year | 42/48 | €2,227,034 | €2,106,294 | -€120,740 | -5.4% |
| Financial debts | 43 | €832,175 | €1,157,560 | +€325,385 | +39.1% |
| Credit institutions | 430/8 | €832,175 | €1,157,560 | +€325,385 | +39.1% |
| Trade debts | 44 | €114,937 | €132,952 | +€18,015 | +15.7% |
| Suppliers | 440/4 | €114,937 | €132,952 | +€18,015 | +15.7% |
| Taxes, remuneration and social security | 45 | €194,105 | €41,077 | -€153,029 | -78.8% |
| Taxes | 450/3 | €194,105 | €41,077 | -€153,029 | -78.8% |
| Other amounts payable | 47/48 | €1,085,817 | €774,706 | -€311,111 | -28.7% |
| Accrued charges and deferred income | 492/3 | €72,805 | €87,060 | +€14,255 | +19.6% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Non-recurring operating charges | 66A | €27,451,429 | - | -€27.5m | |
| Gross operating margin | 9900 | €1,058,396 | €616,327 | -€442,068 | -41.8% |
| Operating profit (loss) | 9901 | -€26,394,001 | €615,329 | +€27.0m | |
| Financial income | 75/76B | €28,042,457 | €7,156,495 | -€20.9m | -74.5% |
| Recurring financial income | 75 | €563,257 | €7,156,495 | +€6.6m | +1,171% |
| Non-recurring financial income | 76B | €27,479,199 | - | -€27.5m | |
| Financial charges | 65/66B | €144,564 | €6,545,849 | +€6.4m | +4,428% |
| Recurring financial charges | 65 | €144,564 | €745,849 | +€601,286 | +416% |
| Non-recurring financial charges | 66B | - | €5,800,000 | +€5.8m | |
| Profit (loss) for the period before taxes | 9903 | €1,503,892 | €1,225,975 | -€277,917 | -18.5% |
| Income taxes | 67/77 | €365,272 | €151,351 | -€213,920 | -58.6% |
| Profit (loss) for the period | 9904 | €1,138,620 | €1,074,624 | -€63,997 | -5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,138,620 | €1,074,624 | -€63,997 | -5.6% |
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 15 October 2026 via checked.be.