Lauwereys: 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.
Lauwereys
Largest movements
- Receivables within one year +€457,529
up €457,529 (+90.7%), from €504,457 to €961,986
of which Other amounts receivable: +€357,833
- Tangible fixed assets -€379,830
down €379,830 (-15.0%), from €2.5m to €2.2m
of which Leasing and similar rights: -€279,847
- Cash -€191,885
down €191,885 (-87.5%), from €219,206 to €27,322
mainly Investment in fixed assets (net) (-€549,069) and Receivables within one year (-€457,529)
- Stocks and contracts +€87,035
up €87,035 (+247.2%), from €35,215 to €122,250
of which Contracts in progress: +€87,035
- Reserves -€247,866
down €247,866 (-19.3%), from €1.3m to €1.0m
- Other debts +€215,787
up €215,787 (+153.2%), from €140,825 to €356,611
- Debts after one year -€203,545
down €203,545 (-17.1%), from €1.2m to €988,806
- Trade debts +€133,168
up €133,168 (+140.4%), from €94,881 to €228,049
- Current portion of long-term debt +€62,621
up €62,621 (+11.5%), from €544,133 to €606,754
- Depreciation +€105,461
up €105,461 (+12.8%), from €823,438 to €928,899
- Staff costs +€60,490
up €60,490 (+12.7%), from €475,443 to €535,933
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 | €3,327,435 | €3,320,415 | -€7,020 | -0.2% |
| Fixed assets | 21/28 | €2,568,558 | €2,188,728 | -€379,830 | -14.8% |
| Tangible fixed assets | 22/27 | €2,531,058 | €2,151,228 | -€379,830 | -15.0% |
| Land and buildings | 22 | €13,519 | €12,195 | -€1,325 | -9.8% |
| Plant, machinery and equipment | 23 | €384,790 | €272,416 | -€112,374 | -29.2% |
| Furniture and vehicles | 24 | €51,864 | €66,965 | +€15,101 | +29.1% |
| Leasing and similar rights | 25 | €2,075,482 | €1,795,635 | -€279,847 | -13.5% |
| Other tangible fixed assets | 26 | €5,402 | €4,017 | -€1,385 | -25.6% |
| Financial fixed assets | 28 | €37,500 | €37,500 | = | 0.0% |
| Current assets | 29/58 | €758,878 | €1,131,687 | +€372,809 | +49.1% |
| Stocks and contracts in progress | 3 | €35,215 | €122,250 | +€87,035 | +247.2% |
| Stocks | 30/36 | €35,215 | €35,215 | = | 0.0% |
| Contracts in progress | 37 | - | €87,035 | +€87,035 | |
| Amounts receivable within one year | 40/41 | €504,457 | €961,986 | +€457,529 | +90.7% |
| Trade receivables | 40 | €367,151 | €466,847 | +€99,697 | +27.2% |
| Other amounts receivable | 41 | €137,306 | €495,139 | +€357,833 | +260.6% |
| Cash at bank and in hand | 54/58 | €219,206 | €27,322 | -€191,885 | -87.5% |
| Deferred charges and accrued income | 490/1 | - | €20,129 | +€20,129 | |
| Total equity and liabilities | 10/49 | €3,327,435 | €3,320,415 | -€7,020 | -0.2% |
| Equity | 10/15 | €1,301,711 | €1,053,845 | -€247,866 | -19.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,283,111 | €1,035,245 | -€247,866 | -19.3% |
| Distributable reserves | 133 | €1,283,111 | €1,035,245 | -€247,866 | -19.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,025,725 | €2,266,570 | +€240,846 | +11.9% |
| Amounts payable after more than one year | 17 | €1,192,351 | €988,806 | -€203,545 | -17.1% |
| Financial debts | 170/4 | €1,192,351 | €988,806 | -€203,545 | -17.1% |
| Amounts payable within one year | 42/48 | €833,373 | €1,277,764 | +€444,391 | +53.3% |
| Current portion of amounts payable after more than one year | 42 | €544,133 | €606,754 | +€62,621 | +11.5% |
| Financial debts | 43 | - | €24,380 | +€24,380 | |
| Credit institutions | 430/8 | - | €24,380 | +€24,380 | |
| Trade debts | 44 | €94,881 | €228,049 | +€133,168 | +140.4% |
| Suppliers | 440/4 | €94,881 | €228,049 | +€133,168 | +140.4% |
| Taxes, remuneration and social security | 45 | €53,535 | €61,970 | +€8,435 | +15.8% |
| Taxes | 450/3 | €14,543 | €18,427 | +€3,884 | +26.7% |
| Remuneration and social security | 454/9 | €38,992 | €43,543 | +€4,551 | +11.7% |
| Other amounts payable | 47/48 | €140,825 | €356,611 | +€215,787 | +153.2% |
| Non-recurring operating income | 76A | €152,880 | €125,126 | -€27,754 | -18.2% |
| Remuneration, social security and pensions | 62 | €475,443 | €535,933 | +€60,490 | +12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €823,438 | €928,899 | +€105,461 | +12.8% |
| Other operating charges | 640/8 | €11,388 | €15,497 | +€4,109 | +36.1% |
| Gross operating margin | 9900 | €1,569,317 | €1,576,104 | +€6,787 | +0.4% |
| Operating profit (loss) | 9901 | €259,048 | €95,774 | -€163,273 | -63.0% |
| Financial income | 75/76B | €4,812 | €1,039 | -€3,773 | -78.4% |
| Recurring financial income | 75 | €4,812 | €1,039 | -€3,773 | -78.4% |
| Financial charges | 65/66B | €55,869 | €59,013 | +€3,144 | +5.6% |
| Recurring financial charges | 65 | €55,869 | €59,013 | +€3,144 | +5.6% |
| Profit (loss) for the period before taxes | 9903 | €207,990 | €37,800 | -€170,190 | -81.8% |
| Income taxes | 67/77 | €12,874 | €8,993 | -€3,880 | -30.1% |
| Profit (loss) for the period | 9904 | €195,117 | €28,806 | -€166,310 | -85.2% |
| Profit (loss) for the period to be appropriated | 9905 | €195,117 | €28,806 | -€166,310 | -85.2% |
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.