LACO: what changed
What changed
LACO
filed annual accounts (NBB)
Net result for the year
€203,685
2024 · €20,468+€183,217
Equity
€345,836
2024 · €191,465+€154,370
Cash
€1,052
2024 · €506+€546
Balance sheet total
€713,885
2024 · €819,918-€106,033
Largest movements
Assets
- Tangible fixed assets -€108,938
down €108,938 (-27.6%), from €394,182 to €285,244
of which Land and buildings: -€93,889
- Receivables after one year -€22,000
down €22,000 (-18.3%), from €120,000 to €98,000
- Receivables within one year +€18,678
up €18,678 (+21.0%), from €88,786 to €107,464
of which Other amounts receivable: +€10,838
Equity and liabilities
- Debts after one year -€177,641
down €177,641 (-61.7%), from €287,964 to €110,322
- Reserves +€154,370
up €154,370 (+83.3%), from €185,257 to €339,628
of which Tax-exempt reserves: +€183,566
- Other debts -€113,640
down €113,640 (-47.6%), from €238,941 to €125,301
- Provisions +€61,716
up €61,716 (+600%), from €10,289 to €72,006
- Current portion of long-term debt -€23,101
down €23,101 (-37.7%), from €61,297 to €38,196
Income statement
- Gross operating margin +€250,705
up €250,705 (+292%), from €85,977 to €336,682
- Financial income -€11,385
down €11,385 (-60.7%), from €18,742 to €7,356
- Depreciation -€6,758
down €6,758 (-12.3%), from €54,816 to €48,057
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€20,468
Gross operating margin
+€250,705
Depreciation
+€6,758
Other operating charges
+€1,796
Financial income
-€11,385
Financial charges
+€1,966
Taxes
-€3,324
Deferred taxes and other
-€63,300
Result 2025
€203,685
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€189,721
Investment
+€60,881
Financing
-€250,056
Cash 2024
€506
From operations (derived)
+€189,721
Net result for the year
+€203,685
Depreciation
+€48,057
Receivables after one year
+€22,000
Receivables within one year
-€18,678
Deferred charges and accrued income
-€5,681
Provisions
+€61,716
Trade debts
-€8,867
Tax, wage and social debts
+€824
Advances received
+€1,474
Other debts
-€113,640
Accrued charges and deferred income
-€1,170
Investment (derived)
+€60,881
Investment in fixed assets (net)
+€60,881
Financing
-€250,056
Debts after one year
-€177,641
Current portion of long-term debt
-€23,101
Contributions, distributions and other
-€49,314
Cash 2025
€1,052
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €819,918 | €713,885 | -€106,033 | -12.9% |
| Fixed assets | 21/28 | €599,858 | €490,920 | -€108,938 | -18.2% |
| Tangible fixed assets | 22/27 | €394,182 | €285,244 | -€108,938 | -27.6% |
| Land and buildings | 22 | €340,613 | €246,724 | -€93,889 | -27.6% |
| Plant, machinery and equipment | 23 | €1,131 | €752 | -€380 | -33.5% |
| Furniture and vehicles | 24 | €50,416 | €35,747 | -€14,669 | -29.1% |
| Other tangible fixed assets | 26 | €2,021 | €2,021 | = | 0.0% |
| Financial fixed assets | 28 | €205,676 | €205,676 | = | 0.0% |
| Current assets | 29/58 | €220,060 | €222,965 | +€2,905 | +1.3% |
| Amounts receivable after more than one year | 29 | €120,000 | €98,000 | -€22,000 | -18.3% |
| Other amounts receivable | 291 | €120,000 | €98,000 | -€22,000 | -18.3% |
| Amounts receivable within one year | 40/41 | €88,786 | €107,464 | +€18,678 | +21.0% |
| Trade receivables | 40 | €0 | €7,840 | +€7,840 | |
| Other amounts receivable | 41 | €88,786 | €99,624 | +€10,838 | +12.2% |
| Cash at bank and in hand | 54/58 | €506 | €1,052 | +€546 | +108% |
| Deferred charges and accrued income | 490/1 | €10,768 | €16,449 | +€5,681 | +52.8% |
| Total equity and liabilities | 10/49 | €819,918 | €713,885 | -€106,033 | -12.9% |
| Equity | 10/15 | €191,465 | €345,836 | +€154,370 | +80.6% |
| Contributions | 10/11 | €6,208 | €6,208 | = | 0.0% |
| Reserves | 13 | €185,257 | €339,628 | +€154,370 | +83.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €41,156 | €224,722 | +€183,566 | +446% |
| Distributable reserves | 133 | €144,101 | €114,906 | -€29,196 | -20.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €10,289 | €72,006 | +€61,716 | +600% |
| Deferred taxes | 168 | €10,289 | €72,006 | +€61,716 | +600% |
| Amounts payable | 17/49 | €618,164 | €296,043 | -€322,120 | -52.1% |
| Amounts payable after more than one year | 17 | €287,964 | €110,322 | -€177,641 | -61.7% |
| Financial debts | 170/4 | €287,964 | €110,322 | -€177,641 | -61.7% |
| Amounts payable within one year | 42/48 | €324,525 | €181,216 | -€143,309 | -44.2% |
| Current portion of amounts payable after more than one year | 42 | €61,297 | €38,196 | -€23,101 | -37.7% |
| Trade debts | 44 | €10,590 | €1,723 | -€8,867 | -83.7% |
| Suppliers | 440/4 | €10,590 | €1,723 | -€8,867 | -83.7% |
| Advances received on contracts in progress | 46 | €9,230 | €10,704 | +€1,474 | +16.0% |
| Taxes, remuneration and social security | 45 | €4,467 | €5,292 | +€824 | +18.4% |
| Taxes | 450/3 | €4,467 | €5,292 | +€824 | +18.4% |
| Other amounts payable | 47/48 | €238,941 | €125,301 | -€113,640 | -47.6% |
| Accrued charges and deferred income | 492/3 | €5,675 | €4,505 | -€1,170 | -20.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,816 | €48,057 | -€6,758 | -12.3% |
| Other operating charges | 640/8 | €7,962 | €6,166 | -€1,796 | -22.6% |
| Gross operating margin | 9900 | €85,977 | €336,682 | +€250,705 | +292% |
| Operating profit (loss) | 9901 | €23,198 | €282,458 | +€259,260 | +1,118% |
| Financial income | 75/76B | €18,742 | €7,356 | -€11,385 | -60.7% |
| Recurring financial income | 75 | €18,742 | €7,356 | -€11,385 | -60.7% |
| Financial charges | 65/66B | €16,088 | €14,122 | -€1,966 | -12.2% |
| Recurring financial charges | 65 | €16,088 | €14,122 | -€1,966 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | €25,852 | €275,693 | +€249,841 | +966% |
| Transfer from deferred taxes | 780 | €1,584 | €1,584 | = | 0.0% |
| Transfer to deferred taxes | 680 | - | €63,300 | +€63,300 | |
| Income taxes | 67/77 | €6,967 | €10,292 | +€3,324 | +47.7% |
| Profit (loss) for the period | 9904 | €20,468 | €203,685 | +€183,217 | +895% |
| Transfer from tax-exempt reserves | 789 | €6,334 | €6,334 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | - | €189,900 | +€189,900 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,802 | €20,119 | -€6,683 | -24.9% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.