ARCHITECT BART VAN LAETHEM: 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.
ARCHITECT BART VAN LAETHEM
Largest movements
- Receivables within one year +€21,956
up €21,956 (+15.2%), from €144,216 to €166,172
of which Trade receivables: +€21,655
- Tangible fixed assets +€20,949
up €20,949 (+2.2%), from €960,520 to €981,469
of which Furniture and vehicles: +€31,329
- Reserves +€76,592
up €76,592 (+22.6%), from €339,093 to €415,685
of which Distributable reserves: +€76,592
- Debts after one year -€39,486
down €39,486 (-8.1%), from €487,435 to €447,949
- Tax, wage and social debts -€24,332
down €24,332 (-46.6%), from €52,268 to €27,935
of which Taxes: -€27,006
- Current portion of long-term debt +€16,073
up €16,073 (+20.4%), from €78,833 to €94,906
- Gross operating margin +€68,944
up €68,944 (+43.4%), from €158,762 to €227,706
- Taxes +€17,683
up €17,683 (+93.1%), from €19,001 to €36,685
- Financial charges +€10,408
up €10,408 (+48.6%), from €21,433 to €31,841
- Depreciation +€6,971
up €6,971 (+16.9%), from €41,140 to €48,110
- Other operating charges -€4,977
down €4,977 (-42.7%), from €11,652 to €6,675
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 | €1,128,922 | €1,171,427 | +€42,505 | +3.8% |
| Fixed assets | 21/28 | €960,520 | €981,469 | +€20,949 | +2.2% |
| Tangible fixed assets | 22/27 | €960,520 | €981,469 | +€20,949 | +2.2% |
| Land and buildings | 22 | €893,903 | €883,848 | -€10,055 | -1.1% |
| Plant, machinery and equipment | 23 | €650 | €325 | -€325 | -50.0% |
| Furniture and vehicles | 24 | €65,966 | €97,296 | +€31,329 | +47.5% |
| Current assets | 29/58 | €168,403 | €189,958 | +€21,555 | +12.8% |
| Amounts receivable within one year | 40/41 | €144,216 | €166,172 | +€21,956 | +15.2% |
| Trade receivables | 40 | €141,068 | €162,723 | +€21,655 | +15.4% |
| Other amounts receivable | 41 | €3,148 | €3,449 | +€301 | +9.6% |
| Cash at bank and in hand | 54/58 | €21,724 | €20,155 | -€1,569 | -7.2% |
| Deferred charges and accrued income | 490/1 | €2,463 | €3,631 | +€1,168 | +47.4% |
| Total equity and liabilities | 10/49 | €1,128,922 | €1,171,427 | +€42,505 | +3.8% |
| Equity | 10/15 | €357,693 | €434,285 | +€76,592 | +21.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €339,093 | €415,685 | +€76,592 | +22.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €337,233 | €413,825 | +€76,592 | +22.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €771,230 | €737,142 | -€34,087 | -4.4% |
| Amounts payable after more than one year | 17 | €487,435 | €447,949 | -€39,486 | -8.1% |
| Financial debts | 170/4 | €487,435 | €447,949 | -€39,486 | -8.1% |
| Amounts payable within one year | 42/48 | €282,407 | €281,280 | -€1,127 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €78,833 | €94,906 | +€16,073 | +20.4% |
| Financial debts | 43 | €12,607 | €14,529 | +€1,922 | +15.2% |
| Credit institutions | 430/8 | €12,607 | €14,529 | +€1,922 | +15.2% |
| Trade debts | 44 | €17,237 | €14,198 | -€3,039 | -17.6% |
| Suppliers | 440/4 | €17,237 | €14,198 | -€3,039 | -17.6% |
| Taxes, remuneration and social security | 45 | €52,268 | €27,935 | -€24,332 | -46.6% |
| Taxes | 450/3 | €47,789 | €20,784 | -€27,006 | -56.5% |
| Remuneration and social security | 454/9 | €4,478 | €7,152 | +€2,674 | +59.7% |
| Other amounts payable | 47/48 | €121,463 | €129,711 | +€8,248 | +6.8% |
| Accrued charges and deferred income | 492/3 | €1,388 | €7,913 | +€6,526 | +470% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €27,105 | €28,258 | +€1,153 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,140 | €48,110 | +€6,971 | +16.9% |
| Other operating charges | 640/8 | €11,652 | €6,675 | -€4,977 | -42.7% |
| Gross operating margin | 9900 | €158,762 | €227,706 | +€68,944 | +43.4% |
| Operating profit (loss) | 9901 | €78,866 | €144,663 | +€65,797 | +83.4% |
| Financial income | 75/76B | €637 | €455 | -€182 | -28.6% |
| Recurring financial income | 75 | €637 | €455 | -€182 | -28.6% |
| Financial charges | 65/66B | €21,433 | €31,841 | +€10,408 | +48.6% |
| Recurring financial charges | 65 | €21,433 | €31,841 | +€10,408 | +48.6% |
| Profit (loss) for the period before taxes | 9903 | €58,070 | €113,277 | +€55,207 | +95.1% |
| Income taxes | 67/77 | €19,001 | €36,685 | +€17,683 | +93.1% |
| Profit (loss) for the period | 9904 | €39,069 | €76,592 | +€37,523 | +96.0% |
| Profit (loss) for the period to be appropriated | 9905 | €39,069 | €76,592 | +€37,523 | +96.0% |
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 27 October 2026 via checked.be.