RICHARD LABRO: 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.
RICHARD LABRO
Largest movements
- Cash +€63,060
up €63,060 (+20.9%), from €301,706 to €364,766
mainly Other debts (+€65,817) and Net result for the year (+€46,240)
- Tangible fixed assets +€5,464
up €5,464 (+23.4%), from €23,312 to €28,776
of which Leasing and similar rights: +€6,398
- Other debts +€65,817
up €65,817 (+20.0%), from €328,713 to €394,530
- Gross operating margin -€18,854
down €18,854 (-20.7%), from €91,123 to €72,268
- Taxes -€4,322
down €4,322 (-26.0%), from €16,644 to €12,322
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 | €388,636 | €455,205 | +€66,568 | +17.1% |
| Fixed assets | 21/28 | €23,312 | €28,776 | +€5,464 | +23.4% |
| Tangible fixed assets | 22/27 | €23,312 | €28,776 | +€5,464 | +23.4% |
| Plant, machinery and equipment | 23 | €14,297 | €18,832 | +€4,536 | +31.7% |
| Furniture and vehicles | 24 | €7,590 | €3,208 | -€4,382 | -57.7% |
| Leasing and similar rights | 25 | - | €6,398 | +€6,398 | |
| Other tangible fixed assets | 26 | €1,425 | €338 | -€1,088 | -76.3% |
| Current assets | 29/58 | €365,324 | €426,429 | +€61,105 | +16.7% |
| Amounts receivable within one year | 40/41 | €63,618 | €61,663 | -€1,955 | -3.1% |
| Trade receivables | 40 | €55,769 | €54,690 | -€1,080 | -1.9% |
| Other amounts receivable | 41 | €7,849 | €6,973 | -€875 | -11.2% |
| Cash at bank and in hand | 54/58 | €301,706 | €364,766 | +€63,060 | +20.9% |
| Total equity and liabilities | 10/49 | €388,636 | €455,205 | +€66,568 | +17.1% |
| Equity | 10/15 | €3,544 | €3,000 | -€544 | -15.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €544 | - | -€544 | |
| Amounts payable | 17/49 | €385,092 | €452,205 | +€67,113 | +17.4% |
| Amounts payable after more than one year | 17 | €3,375 | €486 | -€2,888 | -85.6% |
| Financial debts | 170/4 | €3,375 | €486 | -€2,888 | -85.6% |
| Amounts payable within one year | 42/48 | €381,717 | €451,718 | +€70,001 | +18.3% |
| Current portion of amounts payable after more than one year | 42 | €2,839 | €2,888 | +€49 | +1.7% |
| Trade debts | 44 | €45,849 | €46,408 | +€559 | +1.2% |
| Suppliers | 440/4 | €45,849 | €46,408 | +€559 | +1.2% |
| Taxes, remuneration and social security | 45 | €4,315 | €7,892 | +€3,576 | +82.9% |
| Taxes | 450/3 | €4,315 | €7,892 | +€3,576 | +82.9% |
| Other amounts payable | 47/48 | €328,713 | €394,530 | +€65,817 | +20.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,761 | €14,671 | +€911 | +6.6% |
| Other operating charges | 640/8 | €1,245 | €843 | -€402 | -32.3% |
| Gross operating margin | 9900 | €91,123 | €72,268 | -€18,854 | -20.7% |
| Operating profit (loss) | 9901 | €76,117 | €56,754 | -€19,364 | -25.4% |
| Financial income | 75/76B | €1,936 | €2,555 | +€619 | +32.0% |
| Recurring financial income | 75 | €1,936 | €2,555 | +€619 | +32.0% |
| Financial charges | 65/66B | €865 | €747 | -€118 | -13.6% |
| Recurring financial charges | 65 | €865 | €747 | -€118 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €77,188 | €58,562 | -€18,627 | -24.1% |
| Income taxes | 67/77 | €16,644 | €12,322 | -€4,322 | -26.0% |
| Profit (loss) for the period | 9904 | €60,544 | €46,240 | -€14,305 | -23.6% |
| Profit (loss) for the period to be appropriated | 9905 | €60,544 | €46,240 | -€14,305 | -23.6% |
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 11 October 2026 via checked.be.