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
- Financial fixed assets +€500,000
new in 2025: €500,000
- Tangible fixed assets -€307,011
down €307,011 (-22.2%), from €1.4m to €1.1m
of which Land and buildings: -€264,526
- Receivables within one year +€42,149
up €42,149 (+3,143%), from €1,341 to €43,490
of which Trade receivables: +€37,125
- Other debts -€336,405
no longer reported in 2025 (was €336,405)
- Reserves +€155,000
up €155,000 (+35.5%), from €436,860 to €591,860
- Debts after one year +€152,823
up €152,823 (+30.5%), from €500,755 to €653,578
- Trade debts +€139,000
up €139,000 (+8,204%), from €1,694 to €140,694
- Tax, wage and social debts +€67,586
up €67,586 (+112%), from €60,337 to €127,923
- Gross operating margin +€126,335
up €126,335 (+50.5%), from €250,048 to €376,383
- Taxes +€45,950
up €45,950 (+90.5%), from €50,765 to €96,716
- Depreciation +€9,023
up €9,023 (+13.3%), from €67,948 to €76,971
- Financial charges -€4,736
down €4,736 (-18.4%), from €25,802 to €21,066
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 | €1,444,224 | €1,679,338 | +€235,114 | +16.3% |
| Fixed assets | 21/28 | €1,384,819 | €1,577,808 | +€192,989 | +13.9% |
| Tangible fixed assets | 22/27 | €1,384,819 | €1,077,808 | -€307,011 | -22.2% |
| Land and buildings | 22 | €1,102,641 | €838,114 | -€264,526 | -24.0% |
| Furniture and vehicles | 24 | €177,179 | €140,694 | -€36,485 | -20.6% |
| Leasing and similar rights | 25 | €105,000 | €99,000 | -€6,000 | -5.7% |
| Financial fixed assets | 28 | - | €500,000 | +€500,000 | |
| Current assets | 29/58 | €59,405 | €101,530 | +€42,125 | +70.9% |
| Amounts receivable within one year | 40/41 | €1,341 | €43,490 | +€42,149 | +3,143% |
| Trade receivables | 40 | €1,217 | €38,342 | +€37,125 | +3,051% |
| Other amounts receivable | 41 | €124 | €5,148 | +€5,024 | +4,051% |
| Cash at bank and in hand | 54/58 | €58,064 | €57,880 | -€184 | -0.3% |
| Deferred charges and accrued income | 490/1 | - | €161 | +€161 | |
| Total equity and liabilities | 10/49 | €1,444,224 | €1,679,338 | +€235,114 | +16.3% |
| Equity | 10/15 | €468,336 | €623,833 | +€155,497 | +33.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €436,860 | €591,860 | +€155,000 | +35.5% |
| Distributable reserves | 133 | €436,860 | €591,860 | +€155,000 | +35.5% |
| Profit (loss) carried forward | 14 | €19,076 | €19,573 | +€497 | +2.6% |
| Amounts payable | 17/49 | €975,888 | €1,055,505 | +€79,617 | +8.2% |
| Amounts payable after more than one year | 17 | €500,755 | €653,578 | +€152,823 | +30.5% |
| Financial debts | 170/4 | €500,755 | €653,578 | +€152,823 | +30.5% |
| Amounts payable within one year | 42/48 | €475,134 | €401,928 | -€73,206 | -15.4% |
| Current portion of amounts payable after more than one year | 42 | €76,698 | €133,310 | +€56,612 | +73.8% |
| Trade debts | 44 | €1,694 | €140,694 | +€139,000 | +8,204% |
| Suppliers | 440/4 | €1,694 | €140,694 | +€139,000 | +8,204% |
| Taxes, remuneration and social security | 45 | €60,337 | €127,923 | +€67,586 | +112% |
| Taxes | 450/3 | €60,337 | €127,923 | +€67,586 | +112% |
| Other amounts payable | 47/48 | €336,405 | - | -€336,405 | |
| Non-recurring operating income | 76A | - | €43,391 | +€43,391 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,948 | €76,971 | +€9,023 | +13.3% |
| Other operating charges | 640/8 | €4,664 | €7,014 | +€2,350 | +50.4% |
| Gross operating margin | 9900 | €250,048 | €376,383 | +€126,335 | +50.5% |
| Operating profit (loss) | 9901 | €177,437 | €292,399 | +€114,962 | +64.8% |
| Financial income | 75/76B | €1 | €880 | +€880 | +122,168% |
| Recurring financial income | 75 | €1 | €880 | +€880 | +122,168% |
| Financial charges | 65/66B | €25,802 | €21,066 | -€4,736 | -18.4% |
| Recurring financial charges | 65 | €25,802 | €21,066 | -€4,736 | -18.4% |
| Profit (loss) for the period before taxes | 9903 | €151,636 | €272,213 | +€120,577 | +79.5% |
| Income taxes | 67/77 | €50,765 | €96,716 | +€45,950 | +90.5% |
| Profit (loss) for the period | 9904 | €100,870 | €175,497 | +€74,627 | +74.0% |
| Profit (loss) for the period to be appropriated | 9905 | €100,870 | €175,497 | +€74,627 | +74.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.