LAURREST: 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.
LAURREST
Largest movements
- Cash -€239,391
down €239,391 (-60.6%), from €394,854 to €155,464
mainly Net result for the year (-€238,127) and Current portion of long-term debt (-€90,045)
- Tangible fixed assets -€84,695
down €84,695 (-17.8%), from €475,029 to €390,334
of which Other tangible fixed assets: -€65,564
- Receivables within one year -€18,825
down €18,825 (-29.0%), from €65,024 to €46,199
of which Other amounts receivable: -€13,204
- Reserves -€141,795
down €141,795 (-90.3%), from €157,110 to €15,315
of which Distributable reserves: -€141,795
- Profit (loss) carried forward -€96,332
down €96,332, from €0 to -€96,332
- Current portion of long-term debt -€90,045
down €90,045 (-72.1%), from €124,824 to €34,779
- Accrued charges and deferred income -€22,347
down €22,347 (-34.2%), from €65,294 to €42,947
- Tax, wage and social debts +€13,015
up €13,015 (+9.6%), from €135,761 to €148,776
of which Remuneration and social security: +€13,015
- Turnover +€5.6m
new in 2025: €5.6m
- Services and other goods +€2.5m
new in 2025: €2.5m
- Gross operating margin -€1.6m
no longer reported in 2025 (was €1.6m)
- Goods and materials +€1.6m
new in 2025: €1.6m
of which Purchases: +€1.6m
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 | €1,018,303 | €681,973 | -€336,330 | -33.0% |
| Fixed assets | 21/28 | €494,372 | €408,000 | -€86,373 | -17.5% |
| Intangible fixed assets | 21 | €19,145 | €17,468 | -€1,677 | -8.8% |
| Tangible fixed assets | 22/27 | €475,029 | €390,334 | -€84,695 | -17.8% |
| Plant, machinery and equipment | 23 | €93,433 | €72,882 | -€20,551 | -22.0% |
| Furniture and vehicles | 24 | €9,700 | €11,119 | +€1,419 | +14.6% |
| Other tangible fixed assets | 26 | €371,896 | €306,333 | -€65,564 | -17.6% |
| Financial fixed assets | 28 | €198 | €198 | = | 0.0% |
| Other financial fixed assets | 284/8 | - | €198 | +€198 | |
| Shares | 284 | - | €198 | +€198 | |
| Current assets | 29/58 | €523,931 | €273,973 | -€249,958 | -47.7% |
| Stocks and contracts in progress | 3 | €23,618 | €32,778 | +€9,160 | +38.8% |
| Stocks | 30/36 | €23,618 | €32,778 | +€9,160 | +38.8% |
| Goods purchased for resale | 34 | - | €32,778 | +€32,778 | |
| Amounts receivable within one year | 40/41 | €65,024 | €46,199 | -€18,825 | -29.0% |
| Trade receivables | 40 | €42,564 | €36,943 | -€5,621 | -13.2% |
| Other amounts receivable | 41 | €22,460 | €9,256 | -€13,204 | -58.8% |
| Cash at bank and in hand | 54/58 | €394,854 | €155,464 | -€239,391 | -60.6% |
| Deferred charges and accrued income | 490/1 | €40,434 | €39,532 | -€902 | -2.2% |
| Total equity and liabilities | 10/49 | €1,018,303 | €681,973 | -€336,330 | -33.0% |
| Equity | 10/15 | €219,110 | -€19,017 | -€238,127 | |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €157,110 | €15,315 | -€141,795 | -90.3% |
| Tax-exempt reserves | 132 | €15,315 | €15,315 | = | 0.0% |
| Distributable reserves | 133 | €141,795 | €0 | -€141,795 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | -€96,332 | -€96,332 | |
| Amounts payable | 17/49 | €799,193 | €700,989 | -€98,203 | -12.3% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €733,899 | €658,043 | -€75,856 | -10.3% |
| Current portion of amounts payable after more than one year | 42 | €124,824 | €34,779 | -€90,045 | -72.1% |
| Trade debts | 44 | €472,851 | €473,977 | +€1,126 | +0.2% |
| Suppliers | 440/4 | €472,851 | €473,977 | +€1,126 | +0.2% |
| Taxes, remuneration and social security | 45 | €135,761 | €148,776 | +€13,015 | +9.6% |
| Taxes | 450/3 | €265 | €265 | +€0 | 0.0% |
| Remuneration and social security | 454/9 | €135,496 | €148,511 | +€13,015 | +9.6% |
| Other amounts payable | 47/48 | €462 | €511 | +€49 | +10.5% |
| Accrued charges and deferred income | 492/3 | €65,294 | €42,947 | -€22,347 | -34.2% |
| Operating income | 70/76A | - | €5,620,030 | +€5.6m | |
| Turnover | 70 | - | €5,582,340 | +€5.6m | |
| Other operating income | 74 | - | €37,690 | +€37,690 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | - | €5,807,057 | +€5.8m | |
| Goods for resale, raw materials and consumables | 60 | - | €1,608,250 | +€1.6m | |
| Purchases | 600/8 | - | €1,617,410 | +€1.6m | |
| Change in stocks: decrease (increase) | 609 | - | -€9,160 | -€9,160 | |
| Services and other goods | 61 | - | €2,475,774 | +€2.5m | |
| Remuneration, social security and pensions | 62 | €1,486,447 | €1,537,125 | +€50,679 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €134,718 | €138,416 | +€3,698 | +2.7% |
| Other operating charges | 640/8 | €67,072 | €47,492 | -€19,580 | -29.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,637,846 | - | -€1.6m | |
| Operating profit (loss) | 9901 | -€50,391 | -€187,028 | -€136,637 | -271.2% |
| Financial income | 75/76B | €50 | €15 | -€35 | -69.9% |
| Recurring financial income | 75 | €50 | €15 | -€35 | -69.9% |
| Income from current assets | 751 | - | €15 | +€15 | |
| Other financial income | 752/9 | - | €0 | = | |
| Financial charges | 65/66B | €32,552 | €51,112 | +€18,560 | +57.0% |
| Recurring financial charges | 65 | €32,552 | €51,112 | +€18,560 | +57.0% |
| Debt charges | 650 | - | €3,920 | +€3,920 | |
| Other financial charges | 652/9 | - | €47,192 | +€47,192 | |
| Profit (loss) for the period before taxes | 9903 | -€82,893 | -€238,125 | -€155,232 | -187.3% |
| Income taxes | 67/77 | -€16,912 | €2 | +€16,914 | |
| Taxes | 670/3 | - | €2 | +€2 | |
| Tax adjustments and reversals of tax provisions | 77 | - | €0 | = | |
| Profit (loss) for the period | 9904 | -€65,981 | -€238,127 | -€172,146 | -260.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€65,981 | -€238,127 | -€172,146 | -260.9% |
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.