LAX Management: 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.
LAX Management
Largest movements
- Tangible fixed assets -€40,974
down €40,974 (-8.8%), from €467,292 to €426,318
of which Furniture and vehicles: -€36,792
- Receivables within one year +€18,659
up €18,659 (+32.6%), from €57,257 to €75,916
of which Other amounts receivable: +€40,178
- Cash -€17,171
down €17,171 (-13.1%), from €130,649 to €113,479
mainly Debts after one year (-€42,564) and Investment in fixed assets (net) (-€20,965)
- Financial fixed assets +€16,667
up €16,667 (+19607.6%), from €85 to €16,752
- Profit (loss) carried forward +€46,799
up €46,799 (+19.1%), from €245,176 to €291,975
- Debts after one year -€42,564
down €42,564 (-14.3%), from €298,067 to €255,503
- Tax, wage and social debts -€16,306
down €16,306 (-80.7%), from €20,204 to €3,898
- Other debts -€10,741
down €10,741 (-55.0%), from €19,532 to €8,791
- Gross operating margin -€27,748
down €27,748 (-18.6%), from €148,998 to €121,249
- Taxes -€7,456
down €7,456 (-34.0%), from €21,956 to €14,500
- Depreciation -€2,714
down €2,714 (-5.7%), from €47,986 to €45,272
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 | €659,968 | €641,946 | -€18,022 | -2.7% |
| Fixed assets | 21/28 | €467,377 | €443,069 | -€24,308 | -5.2% |
| Tangible fixed assets | 22/27 | €467,292 | €426,318 | -€40,974 | -8.8% |
| Land and buildings | 22 | €251,632 | €248,882 | -€2,751 | -1.1% |
| Plant, machinery and equipment | 23 | €4,023 | €2,591 | -€1,432 | -35.6% |
| Furniture and vehicles | 24 | €211,637 | €174,845 | -€36,792 | -17.4% |
| Financial fixed assets | 28 | €85 | €16,752 | +€16,667 | +19607.6% |
| Current assets | 29/58 | €192,591 | €198,877 | +€6,285 | +3.3% |
| Amounts receivable within one year | 40/41 | €57,257 | €75,916 | +€18,659 | +32.6% |
| Trade receivables | 40 | €55,048 | €33,529 | -€21,519 | -39.1% |
| Other amounts receivable | 41 | €2,209 | €42,387 | +€40,178 | +1819.0% |
| Cash at bank and in hand | 54/58 | €130,649 | €113,479 | -€17,171 | -13.1% |
| Deferred charges and accrued income | 490/1 | €4,685 | €9,482 | +€4,797 | +102.4% |
| Total equity and liabilities | 10/49 | €659,968 | €641,946 | -€18,022 | -2.7% |
| Equity | 10/15 | €275,636 | €322,435 | +€46,799 | +17.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €11,860 | €11,860 | = | 0.0% |
| Distributable reserves | 133 | €11,860 | €11,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €245,176 | €291,975 | +€46,799 | +19.1% |
| Amounts payable | 17/49 | €384,333 | €319,511 | -€64,822 | -16.9% |
| Amounts payable after more than one year | 17 | €298,067 | €255,503 | -€42,564 | -14.3% |
| Financial debts | 170/4 | €298,067 | €255,503 | -€42,564 | -14.3% |
| Amounts payable within one year | 42/48 | €86,176 | €63,856 | -€22,320 | -25.9% |
| Current portion of amounts payable after more than one year | 42 | €41,697 | €42,564 | +€867 | +2.1% |
| Trade debts | 44 | €4,743 | €8,603 | +€3,860 | +81.4% |
| Suppliers | 440/4 | €4,743 | €8,603 | +€3,860 | +81.4% |
| Taxes, remuneration and social security | 45 | €20,204 | €3,898 | -€16,306 | -80.7% |
| Taxes | 450/3 | €20,204 | €3,898 | -€16,306 | -80.7% |
| Other amounts payable | 47/48 | €19,532 | €8,791 | -€10,741 | -55.0% |
| Accrued charges and deferred income | 492/3 | €89 | €152 | +€63 | +70.4% |
| Non-recurring operating income | 76A | €10,254 | - | -€10,254 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,986 | €45,272 | -€2,714 | -5.7% |
| Other operating charges | 640/8 | €2,429 | €2,114 | -€314 | -12.9% |
| Gross operating margin | 9900 | €148,998 | €121,249 | -€27,748 | -18.6% |
| Operating profit (loss) | 9901 | €98,583 | €73,863 | -€24,720 | -25.1% |
| Financial income | 75/76B | €72 | €3 | -€69 | -96.0% |
| Recurring financial income | 75 | €72 | €3 | -€69 | -96.0% |
| Financial charges | 65/66B | €14,073 | €12,921 | -€1,152 | -8.2% |
| Recurring financial charges | 65 | €14,073 | €12,921 | -€1,152 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €84,582 | €60,945 | -€23,637 | -27.9% |
| Income taxes | 67/77 | €21,956 | €14,500 | -€7,456 | -34.0% |
| Profit (loss) for the period | 9904 | €62,626 | €46,445 | -€16,181 | -25.8% |
| Profit (loss) for the period to be appropriated | 9905 | €62,626 | €46,445 | -€16,181 | -25.8% |
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 8 October 2026 via checked.be.