LAWO: 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.
LAWO
Largest movements
- Receivables within one year +€24,084
up €24,084 (+130%), from €18,581 to €42,666
of which Trade receivables: +€12,403
- Tangible fixed assets -€21,312
down €21,312 (-32.9%), from €64,738 to €43,426
of which Furniture and vehicles: -€18,677
- Cash -€2,275
down €2,275 (-3.3%), from €69,863 to €67,588
mainly Contributions, distributions and other (-€60,000) and Receivables within one year (-€24,084)
- Other debts +€60,000
new in 2025: €60,000
- Profit (loss) carried forward -€46,481
down €46,481 (-36.4%), from €127,794 to €81,313
- Debts after one year -€16,637
down €16,637 (-47.8%), from €34,797 to €18,159
- Tax, wage and social debts +€6,286
up €6,286 (+363%), from €1,731 to €8,017
- Trade debts -€2,260
down €2,260 (-93.9%), from €2,408 to €148
- Gross operating margin -€12,088
down €12,088 (-23.3%), from €51,965 to €39,878
- Taxes -€2,622
down €2,622 (-38.0%), from €6,902 to €4,280
- Financial income +€610
up €610 (+172%), from €355 to €965
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 | €203,707 | €204,734 | +€1,027 | +0.5% |
| Fixed assets | 21/28 | €110,538 | €89,226 | -€21,312 | -19.3% |
| Tangible fixed assets | 22/27 | €64,738 | €43,426 | -€21,312 | -32.9% |
| Plant, machinery and equipment | 23 | €8,230 | €5,596 | -€2,634 | -32.0% |
| Furniture and vehicles | 24 | €56,507 | €37,830 | -€18,677 | -33.1% |
| Financial fixed assets | 28 | €45,800 | €45,800 | = | 0.0% |
| Current assets | 29/58 | €93,169 | €115,508 | +€22,339 | +24.0% |
| Amounts receivable within one year | 40/41 | €18,581 | €42,666 | +€24,084 | +130% |
| Trade receivables | 40 | - | €12,403 | +€12,403 | |
| Other amounts receivable | 41 | €18,581 | €30,263 | +€11,681 | +62.9% |
| Cash at bank and in hand | 54/58 | €69,863 | €67,588 | -€2,275 | -3.3% |
| Deferred charges and accrued income | 490/1 | €4,725 | €5,255 | +€530 | +11.2% |
| Total equity and liabilities | 10/49 | €203,707 | €204,734 | +€1,027 | +0.5% |
| Equity | 10/15 | €148,254 | €101,773 | -€46,481 | -31.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €127,794 | €81,313 | -€46,481 | -36.4% |
| Amounts payable | 17/49 | €55,453 | €102,961 | +€47,508 | +85.7% |
| Amounts payable after more than one year | 17 | €34,797 | €18,159 | -€16,637 | -47.8% |
| Financial debts | 170/4 | €34,797 | €18,159 | -€16,637 | -47.8% |
| Amounts payable within one year | 42/48 | €20,657 | €84,801 | +€64,145 | +311% |
| Current portion of amounts payable after more than one year | 42 | €16,518 | €16,637 | +€119 | +0.7% |
| Trade debts | 44 | €2,408 | €148 | -€2,260 | -93.9% |
| Suppliers | 440/4 | €2,408 | €148 | -€2,260 | -93.9% |
| Taxes, remuneration and social security | 45 | €1,731 | €8,017 | +€6,286 | +363% |
| Taxes | 450/3 | €1,731 | €8,017 | +€6,286 | +363% |
| Other amounts payable | 47/48 | - | €60,000 | +€60,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,544 | €21,312 | -€232 | -1.1% |
| Other operating charges | 640/8 | €1,291 | €1,342 | +€50 | +3.9% |
| Gross operating margin | 9900 | €51,965 | €39,878 | -€12,088 | -23.3% |
| Operating profit (loss) | 9901 | €29,130 | €17,224 | -€11,906 | -40.9% |
| Financial income | 75/76B | €355 | €965 | +€610 | +172% |
| Recurring financial income | 75 | €355 | €965 | +€610 | +172% |
| Financial charges | 65/66B | €568 | €390 | -€178 | -31.4% |
| Recurring financial charges | 65 | €568 | €390 | -€178 | -31.4% |
| Profit (loss) for the period before taxes | 9903 | €28,916 | €17,799 | -€11,117 | -38.4% |
| Income taxes | 67/77 | €6,902 | €4,280 | -€2,622 | -38.0% |
| Profit (loss) for the period | 9904 | €22,014 | €13,520 | -€8,495 | -38.6% |
| Profit (loss) for the period to be appropriated | 9905 | €22,014 | €13,520 | -€8,495 | -38.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.