PDG Laurent: 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.
PDG Laurent
Largest movements
- Cash +€291,666
up €291,666 (+277%), from €105,169 to €396,835
mainly Other debts (+€176,012) and Net result for the year (+€162,042)
- Tangible fixed assets -€180,631
down €180,631 (-12.4%), from €1.5m to €1.3m
of which Land and buildings: -€151,901
- Other debts +€176,012
up €176,012 (+73.1%), from €240,688 to €416,701
- Debts after one year -€104,288
down €104,288 (-14.3%), from €727,044 to €622,756
- Tax, wage and social debts +€81,310
up €81,310 (+198%), from €41,080 to €122,389
of which Taxes: +€81,888
- Profit (loss) carried forward -€37,958
down €37,958 (-7.1%), from €536,122 to €498,163
- Gross operating margin +€108,327
up €108,327 (+43.2%), from €251,016 to €359,343
- Other operating charges +€35,648
up €35,648 (+543%), from €6,567 to €42,215
- Taxes +€21,786
up €21,786 (+58.6%), from €37,191 to €58,977
- Depreciation -€5,708
down €5,708 (-10.7%), from €53,215 to €47,507
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 | €1,654,785 | €1,762,810 | +€108,025 | +6.5% |
| Fixed assets | 21/28 | €1,464,387 | €1,283,756 | -€180,631 | -12.3% |
| Tangible fixed assets | 22/27 | €1,458,887 | €1,278,256 | -€180,631 | -12.4% |
| Land and buildings | 22 | €1,354,278 | €1,202,378 | -€151,901 | -11.2% |
| Furniture and vehicles | 24 | €104,609 | €75,879 | -€28,730 | -27.5% |
| Financial fixed assets | 28 | €5,500 | €5,500 | = | 0.0% |
| Current assets | 29/58 | €190,398 | €479,054 | +€288,656 | +152% |
| Amounts receivable within one year | 40/41 | €82,169 | €80,608 | -€1,561 | -1.9% |
| Trade receivables | 40 | €82,096 | €79,375 | -€2,721 | -3.3% |
| Other amounts receivable | 41 | €73 | €1,232 | +€1,159 | +1,596% |
| Cash at bank and in hand | 54/58 | €105,169 | €396,835 | +€291,666 | +277% |
| Deferred charges and accrued income | 490/1 | €3,060 | €1,612 | -€1,449 | -47.3% |
| Total equity and liabilities | 10/49 | €1,654,785 | €1,762,810 | +€108,025 | +6.5% |
| Equity | 10/15 | €541,122 | €503,163 | -€37,958 | -7.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €536,122 | €498,163 | -€37,958 | -7.1% |
| Amounts payable | 17/49 | €1,113,663 | €1,259,647 | +€145,984 | +13.1% |
| Amounts payable after more than one year | 17 | €727,044 | €622,756 | -€104,288 | -14.3% |
| Financial debts | 170/4 | €727,044 | €622,756 | -€104,288 | -14.3% |
| Amounts payable within one year | 42/48 | €373,107 | €624,293 | +€251,186 | +67.3% |
| Current portion of amounts payable after more than one year | 42 | €80,276 | €78,622 | -€1,654 | -2.1% |
| Financial debts | 43 | €8,447 | - | -€8,447 | |
| Credit institutions | 430/8 | €8,447 | - | -€8,447 | |
| Trade debts | 44 | €2,617 | €6,581 | +€3,964 | +152% |
| Suppliers | 440/4 | €2,617 | €6,581 | +€3,964 | +152% |
| Taxes, remuneration and social security | 45 | €41,080 | €122,389 | +€81,310 | +198% |
| Taxes | 450/3 | €33,554 | €115,442 | +€81,888 | +244% |
| Remuneration and social security | 454/9 | €7,526 | €6,948 | -€578 | -7.7% |
| Other amounts payable | 47/48 | €240,688 | €416,701 | +€176,012 | +73.1% |
| Accrued charges and deferred income | 492/3 | €13,512 | €12,598 | -€914 | -6.8% |
| Non-recurring operating income | 76A | - | €181,876 | +€181,876 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,215 | €47,507 | -€5,708 | -10.7% |
| Other operating charges | 640/8 | €6,567 | €42,215 | +€35,648 | +543% |
| Gross operating margin | 9900 | €251,016 | €359,343 | +€108,327 | +43.2% |
| Operating profit (loss) | 9901 | €191,234 | €269,621 | +€78,387 | +41.0% |
| Financial charges | 65/66B | €48,619 | €48,602 | -€17 | 0.0% |
| Recurring financial charges | 65 | €48,619 | €48,602 | -€17 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €142,614 | €221,019 | +€78,405 | +55.0% |
| Income taxes | 67/77 | €37,191 | €58,977 | +€21,786 | +58.6% |
| Profit (loss) for the period | 9904 | €105,423 | €162,042 | +€56,618 | +53.7% |
| Profit (loss) for the period to be appropriated | 9905 | €105,423 | €162,042 | +€56,618 | +53.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.