vC LAPIDUS: 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.
vC LAPIDUS
Largest movements
- Tangible fixed assets -€1.6m
down €1.6m (-31.3%), from €5.1m to €3.5m
of which Plant, machinery and equipment: -€1.2m
- Cash -€1.6m
down €1.6m (-94.0%), from €1.7m to €100,729
mainly Contributions, distributions and other (-€1.6m) and Receivables after one year (-€606,800)
- Receivables after one year +€606,800
new in 2025: €606,800
- Receivables within one year +€527,481
up €527,481 (+110.8%), from €476,237 to €1.0m
of which Other amounts receivable: +€729,539
- Stocks and contracts -€399,860
down €399,860 (-100.0%), from €399,860 to €0
of which Stocks: -€395,131
- Reserves -€1.3m
down €1.3m (-35.3%), from €3.6m to €2.3m
of which Distributable reserves: -€1.2m
- Debts after one year -€541,804
down €541,804 (-21.1%), from €2.6m to €2.0m
- Other debts +€426,215
up €426,215 (+1441.4%), from €29,569 to €455,784
- Advances received -€327,078
down €327,078 (-100.0%), from €327,078 to €0
- Current portion of long-term debt -€326,656
down €326,656 (-61.3%), from €532,894 to €206,238
- Gross operating margin -€3.4m
down €3.4m (-93.4%), from €3.6m to €240,773
- Staff costs -€2.3m
down €2.3m (-100.0%), from €2.3m to €0
- Financial income -€1.4m
down €1.4m (-95.3%), from €1.5m to €67,806
- Depreciation -€387,109
down €387,109 (-63.8%), from €606,989 to €219,880
- Taxes -€138,595
down €138,595 (-100.0%), from €138,595 to €0
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 | €8,026,720 | €5,238,539 | -€2.8m | -34.7% |
| Fixed assets | 21/28 | €5,389,009 | €3,520,976 | -€1.9m | -34.7% |
| Intangible fixed assets | 21 | €187,183 | €0 | -€187,183 | -100.0% |
| Tangible fixed assets | 22/27 | €5,108,243 | €3,511,436 | -€1.6m | -31.3% |
| Land and buildings | 22 | €3,500,189 | €3,482,218 | -€17,971 | -0.5% |
| Plant, machinery and equipment | 23 | €1,208,542 | €0 | -€1.2m | -100.0% |
| Furniture and vehicles | 24 | €155,288 | €0 | -€155,288 | -100.0% |
| Other tangible fixed assets | 26 | €125,539 | €29,218 | -€96,321 | -76.7% |
| Assets under construction and advance payments | 27 | €118,685 | €0 | -€118,685 | -100.0% |
| Financial fixed assets | 28 | €93,583 | €9,540 | -€84,043 | -89.8% |
| Current assets | 29/58 | €2,637,711 | €1,717,563 | -€920,148 | -34.9% |
| Amounts receivable after more than one year | 29 | - | €606,800 | +€606,800 | |
| Other amounts receivable | 291 | - | €606,800 | +€606,800 | |
| Stocks and contracts in progress | 3 | €399,860 | €0 | -€399,860 | -100.0% |
| Stocks | 30/36 | €395,131 | €0 | -€395,131 | -100.0% |
| Contracts in progress | 37 | €4,729 | €0 | -€4,729 | -100.0% |
| Amounts receivable within one year | 40/41 | €476,237 | €1,003,718 | +€527,481 | +110.8% |
| Trade receivables | 40 | €202,058 | €0 | -€202,058 | -100.0% |
| Other amounts receivable | 41 | €274,179 | €1,003,718 | +€729,539 | +266.1% |
| Cash at bank and in hand | 54/58 | €1,688,507 | €100,729 | -€1.6m | -94.0% |
| Deferred charges and accrued income | 490/1 | €73,107 | €6,317 | -€66,790 | -91.4% |
| Total equity and liabilities | 10/49 | €8,026,720 | €5,238,539 | -€2.8m | -34.7% |
| Equity | 10/15 | €4,070,205 | €2,531,779 | -€1.5m | -37.8% |
| Contributions | 10/11 | €318,600 | €202,473 | -€116,127 | -36.4% |
| Reserves | 13 | €3,601,079 | €2,329,306 | -€1.3m | -35.3% |
| Tax-exempt reserves | 132 | €220,513 | €167,993 | -€52,520 | -23.8% |
| Distributable reserves | 133 | €3,380,565 | €2,161,312 | -€1.2m | -36.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Investment grants | 15 | €150,526 | €0 | -€150,526 | -100.0% |
| Amounts payable | 17/49 | €3,956,516 | €2,706,760 | -€1.2m | -31.6% |
| Amounts payable after more than one year | 17 | €2,561,998 | €2,020,195 | -€541,804 | -21.1% |
| Financial debts | 170/4 | €2,561,998 | €2,020,195 | -€541,804 | -21.1% |
| Amounts payable within one year | 42/48 | €1,394,517 | €686,566 | -€707,952 | -50.8% |
| Current portion of amounts payable after more than one year | 42 | €532,894 | €206,238 | -€326,656 | -61.3% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €280,254 | €24,544 | -€255,710 | -91.2% |
| Suppliers | 440/4 | €280,254 | €24,544 | -€255,710 | -91.2% |
| Advances received on contracts in progress | 46 | €327,078 | €0 | -€327,078 | -100.0% |
| Taxes, remuneration and social security | 45 | €224,722 | €0 | -€224,722 | -100.0% |
| Taxes | 450/3 | €14,107 | €0 | -€14,107 | -100.0% |
| Remuneration and social security | 454/9 | €210,615 | €0 | -€210,615 | -100.0% |
| Other amounts payable | 47/48 | €29,569 | €455,784 | +€426,215 | +1441.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €2,320,871 | €0 | -€2.3m | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €606,989 | €219,880 | -€387,109 | -63.8% |
| Other operating charges | 640/8 | €76,638 | €5,341 | -€71,298 | -93.0% |
| Non-recurring operating charges | 66A | €1,490 | €0 | -€1,490 | -100.0% |
| Gross operating margin | 9900 | €3,631,025 | €240,773 | -€3.4m | -93.4% |
| Operating profit (loss) | 9901 | €625,037 | €15,552 | -€609,485 | -97.5% |
| Financial income | 75/76B | €1,457,424 | €67,806 | -€1.4m | -95.3% |
| Recurring financial income | 75 | €1,457,424 | €67,806 | -€1.4m | -95.3% |
| Financial charges | 65/66B | €98,682 | €70,428 | -€28,254 | -28.6% |
| Recurring financial charges | 65 | €98,682 | €70,428 | -€28,254 | -28.6% |
| Profit (loss) for the period before taxes | 9903 | €1,983,779 | €12,930 | -€2.0m | -99.3% |
| Income taxes | 67/77 | €138,595 | €0 | -€138,595 | -100.0% |
| Profit (loss) for the period | 9904 | €1,845,184 | €12,930 | -€1.8m | -99.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,845,184 | €12,930 | -€1.8m | -99.3% |
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 6 October 2026 via checked.be.