Lawro: 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.
Lawro
Largest movements
- Tangible fixed assets +€35,264
new in 2025: €35,264
- Cash -€19,934
down €19,934 (-37.2%), from €53,625 to €33,690
mainly Investment in fixed assets (net) (-€36,571) and Receivables within one year (-€12,379)
- Receivables within one year +€12,379
up €12,379 (+195.7%), from €6,327 to €18,705
- Deferred charges and accrued income +€1,161
new in 2025: €1,161
- Reserves +€14,270
up €14,270 (+32.0%), from €44,627 to €58,897
- Current portion of long-term debt +€14,044
new in 2025: €14,044
- Debts after one year +€13,606
new in 2025: €13,606
- Other debts -€8,250
no longer reported in 2025 (was €8,250)
- Tax, wage and social debts -€4,793
no longer reported in 2025 (was €4,793)
- Gross operating margin -€21,299
down €21,299 (-50.1%), from €42,541 to €21,241
- Taxes -€5,920
down €5,920 (-53.7%), from €11,020 to €5,100
- Depreciation +€1,307
new in 2025: €1,307
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 | €59,951 | €88,820 | +€28,869 | +48.2% |
| Fixed assets | 21/28 | - | €35,264 | +€35,264 | |
| Tangible fixed assets | 22/27 | - | €35,264 | +€35,264 | |
| Furniture and vehicles | 24 | - | €35,264 | +€35,264 | |
| Current assets | 29/58 | €59,951 | €53,557 | -€6,394 | -10.7% |
| Amounts receivable within one year | 40/41 | €6,327 | €18,705 | +€12,379 | +195.7% |
| Other amounts receivable | 41 | €6,327 | €18,705 | +€12,379 | +195.7% |
| Cash at bank and in hand | 54/58 | €53,625 | €33,690 | -€19,934 | -37.2% |
| Deferred charges and accrued income | 490/1 | - | €1,161 | +€1,161 | |
| Total equity and liabilities | 10/49 | €59,951 | €88,820 | +€28,869 | +48.2% |
| Equity | 10/15 | €46,627 | €60,897 | +€14,270 | +30.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €44,627 | €58,897 | +€14,270 | +32.0% |
| Distributable reserves | 133 | €44,627 | €58,897 | +€14,270 | +32.0% |
| Amounts payable | 17/49 | €13,324 | €27,924 | +€14,600 | +109.6% |
| Amounts payable after more than one year | 17 | - | €13,606 | +€13,606 | |
| Financial debts | 170/4 | - | €13,606 | +€13,606 | |
| Amounts payable within one year | 42/48 | €13,149 | €14,143 | +€994 | +7.6% |
| Current portion of amounts payable after more than one year | 42 | - | €14,044 | +€14,044 | |
| Trade debts | 44 | €106 | €99 | -€7 | -6.5% |
| Suppliers | 440/4 | €106 | €99 | -€7 | -6.5% |
| Taxes, remuneration and social security | 45 | €4,793 | - | -€4,793 | |
| Taxes | 450/3 | €4,793 | - | -€4,793 | |
| Other amounts payable | 47/48 | €8,250 | - | -€8,250 | |
| Accrued charges and deferred income | 492/3 | €175 | €175 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,307 | +€1,307 | |
| Other operating charges | 640/8 | €505 | €399 | -€106 | -21.0% |
| Gross operating margin | 9900 | €42,541 | €21,241 | -€21,299 | -50.1% |
| Operating profit (loss) | 9901 | €42,035 | €19,535 | -€22,500 | -53.5% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €70 | €167 | +€97 | +137.5% |
| Recurring financial charges | 65 | €70 | €167 | +€97 | +137.5% |
| Profit (loss) for the period before taxes | 9903 | €41,965 | €19,369 | -€22,596 | -53.8% |
| Income taxes | 67/77 | €11,020 | €5,100 | -€5,920 | -53.7% |
| Profit (loss) for the period | 9904 | €30,945 | €14,270 | -€16,675 | -53.9% |
| Profit (loss) for the period to be appropriated | 9905 | €30,945 | €14,270 | -€16,675 | -53.9% |
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 4 October 2026 via checked.be.