Soenen Laurence: 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.
Soenen Laurence
Largest movements
- Cash +€111,842
up €111,842 (+24.0%), from €466,102 to €577,944
mainly Net result for the year (+€204,264) and Depreciation (+€20,875)
- Tangible fixed assets +€34,118
up €34,118 (+12.7%), from €268,824 to €302,942
of which Plant, machinery and equipment: +€45,893
- Receivables within one year +€18,103
up €18,103 (+88.8%), from €20,394 to €38,498
- Reserves +€195,986
up €195,986 (+38.6%), from €508,142 to €704,128
- Other debts -€33,602
no longer reported in 2025 (was €33,602)
- Debts after one year -€16,354
down €16,354 (-12.2%), from €133,582 to €117,227
- Tax, wage and social debts +€14,078
up €14,078 (+59.8%), from €23,555 to €37,633
of which Remuneration and social security: +€8,883
- Gross operating margin +€51,564
up €51,564 (+16.4%), from €313,669 to €365,234
- Taxes -€6,802
down €6,802 (-7.9%), from €85,978 to €79,176
- Staff costs -€5,767
down €5,767 (-9.4%), from €61,433 to €55,665
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 | €756,107 | €919,841 | +€163,734 | +21.7% |
| Fixed assets | 21/28 | €268,824 | €302,942 | +€34,118 | +12.7% |
| Tangible fixed assets | 22/27 | €268,824 | €302,942 | +€34,118 | +12.7% |
| Land and buildings | 22 | €255,835 | €244,653 | -€11,182 | -4.4% |
| Plant, machinery and equipment | 23 | €11,209 | €57,103 | +€45,893 | +409% |
| Furniture and vehicles | 24 | €1,779 | €1,187 | -€592 | -33.3% |
| Current assets | 29/58 | €487,283 | €616,898 | +€129,616 | +26.6% |
| Amounts receivable within one year | 40/41 | €20,394 | €38,498 | +€18,103 | +88.8% |
| Other amounts receivable | 41 | €20,394 | €38,498 | +€18,103 | +88.8% |
| Cash at bank and in hand | 54/58 | €466,102 | €577,944 | +€111,842 | +24.0% |
| Deferred charges and accrued income | 490/1 | €787 | €457 | -€330 | -42.0% |
| Total equity and liabilities | 10/49 | €756,107 | €919,841 | +€163,734 | +21.7% |
| Equity | 10/15 | €526,742 | €722,728 | +€195,986 | +37.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €508,142 | €704,128 | +€195,986 | +38.6% |
| Distributable reserves | 133 | €508,142 | €704,128 | +€195,986 | +38.6% |
| Profit (loss) carried forward | 14 | - | €0 | +€0 | |
| Amounts payable | 17/49 | €229,364 | €197,112 | -€32,252 | -14.1% |
| Amounts payable after more than one year | 17 | €133,582 | €117,227 | -€16,354 | -12.2% |
| Financial debts | 170/4 | €133,582 | €117,227 | -€16,354 | -12.2% |
| Amounts payable within one year | 42/48 | €95,783 | €79,885 | -€15,898 | -16.6% |
| Current portion of amounts payable after more than one year | 42 | €15,756 | €16,354 | +€598 | +3.8% |
| Trade debts | 44 | €22,670 | €25,698 | +€3,028 | +13.4% |
| Suppliers | 440/4 | €22,670 | €25,698 | +€3,028 | +13.4% |
| Advances received on contracts in progress | 46 | €200 | €200 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €23,555 | €37,633 | +€14,078 | +59.8% |
| Taxes | 450/3 | €8,117 | €13,312 | +€5,195 | +64.0% |
| Remuneration and social security | 454/9 | €15,437 | €24,321 | +€8,883 | +57.5% |
| Other amounts payable | 47/48 | €33,602 | - | -€33,602 | |
| Remuneration, social security and pensions | 62 | €61,433 | €55,665 | -€5,767 | -9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,177 | €20,875 | +€1,699 | +8.9% |
| Other operating charges | 640/8 | €2,360 | €2,033 | -€327 | -13.9% |
| Gross operating margin | 9900 | €313,669 | €365,234 | +€51,564 | +16.4% |
| Operating profit (loss) | 9901 | €230,700 | €286,661 | +€55,960 | +24.3% |
| Financial income | 75/76B | €1,756 | €3,608 | +€1,852 | +106% |
| Recurring financial income | 75 | €1,756 | €3,608 | +€1,852 | +106% |
| Financial charges | 65/66B | €6,055 | €6,829 | +€775 | +12.8% |
| Recurring financial charges | 65 | €6,055 | €6,829 | +€775 | +12.8% |
| Profit (loss) for the period before taxes | 9903 | €226,401 | €283,439 | +€57,038 | +25.2% |
| Income taxes | 67/77 | €85,978 | €79,176 | -€6,802 | -7.9% |
| Profit (loss) for the period | 9904 | €140,423 | €204,264 | +€63,840 | +45.5% |
| Profit (loss) for the period to be appropriated | 9905 | €140,423 | €204,264 | +€63,840 | +45.5% |
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 28 October 2026 via checked.be.