DR. J. VAN LAETHEM: what changed
DR. J. VAN LAETHEM
Largest movements
- Receivables within one year +€85,514
up €85,514 (+17.1%), from €500,652 to €586,167
of which Other amounts receivable: +€103,751
- Cash -€25,030
down €25,030 (-35.0%), from €71,580 to €46,550
mainly Receivables within one year (-€85,514) and Other debts (-€36,676)
- Tangible fixed assets -€10,729
down €10,729 (-19.1%), from €56,242 to €45,513
- Reserves +€60,644
up €60,644 (+11.1%), from €545,419 to €606,063
of which Distributable reserves: +€60,644
- Other debts -€36,676
down €36,676 (-42.4%), from €86,422 to €49,746
- Tax, wage and social debts +€19,916
up €19,916 (+79.3%), from €25,111 to €45,027
of which Taxes: +€18,708
- Depreciation -€16,433
down €16,433 (-60.5%), from €27,163 to €10,729
- Financial income -€8,293
down €8,293 (-99.8%), from €8,307 to €14
- Taxes +€4,780
up €4,780 (+16.3%), from €29,399 to €34,179
- Gross operating margin +€4,406
up €4,406 (+2.6%), from €166,575 to €170,981
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €681,499 | €726,357 | +€44,858 | +6.6% |
| Fixed assets | 21/28 | €56,292 | €45,562 | -€10,729 | -19.1% |
| Tangible fixed assets | 22/27 | €56,242 | €45,513 | -€10,729 | -19.1% |
| Plant, machinery and equipment | 23 | €14,971 | €9,709 | -€5,262 | -35.1% |
| Furniture and vehicles | 24 | €29,585 | €28,123 | -€1,462 | -4.9% |
| Other tangible fixed assets | 26 | €11,686 | €7,681 | -€4,006 | -34.3% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €625,207 | €680,795 | +€55,588 | +8.9% |
| Amounts receivable within one year | 40/41 | €500,652 | €586,167 | +€85,514 | +17.1% |
| Trade receivables | 40 | €49,610 | €31,374 | -€18,236 | -36.8% |
| Other amounts receivable | 41 | €451,043 | €554,793 | +€103,751 | +23.0% |
| Cash at bank and in hand | 54/58 | €71,580 | €46,550 | -€25,030 | -35.0% |
| Deferred charges and accrued income | 490/1 | €52,975 | €48,078 | -€4,896 | -9.2% |
| Total equity and liabilities | 10/49 | €681,499 | €726,357 | +€44,858 | +6.6% |
| Equity | 10/15 | €566,268 | €626,912 | +€60,644 | +10.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €545,419 | €606,063 | +€60,644 | +11.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €23,250 | €23,250 | = | 0.0% |
| Distributable reserves | 133 | €522,169 | €582,813 | +€60,644 | +11.6% |
| Profit (loss) carried forward | 14 | €2,249 | €2,249 | = | 0.0% |
| Amounts payable | 17/49 | €115,231 | €99,445 | -€15,786 | -13.7% |
| Amounts payable within one year | 42/48 | €115,231 | €99,445 | -€15,786 | -13.7% |
| Trade debts | 44 | €3,698 | €4,673 | +€974 | +26.4% |
| Suppliers | 440/4 | €3,698 | €4,673 | +€974 | +26.4% |
| Taxes, remuneration and social security | 45 | €25,111 | €45,027 | +€19,916 | +79.3% |
| Taxes | 450/3 | €17,408 | €36,116 | +€18,708 | +107% |
| Remuneration and social security | 454/9 | €7,703 | €8,911 | +€1,208 | +15.7% |
| Other amounts payable | 47/48 | €86,422 | €49,746 | -€36,676 | -42.4% |
| Remuneration, social security and pensions | 62 | €54,554 | €55,052 | +€498 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,163 | €10,729 | -€16,433 | -60.5% |
| Other operating charges | 640/8 | €5,143 | €5,238 | +€95 | +1.8% |
| Gross operating margin | 9900 | €166,575 | €170,981 | +€4,406 | +2.6% |
| Operating profit (loss) | 9901 | €79,716 | €99,962 | +€20,247 | +25.4% |
| Financial income | 75/76B | €8,307 | €14 | -€8,293 | -99.8% |
| Recurring financial income | 75 | €8,307 | €14 | -€8,293 | -99.8% |
| Financial charges | 65/66B | €6,792 | €5,153 | -€1,638 | -24.1% |
| Recurring financial charges | 65 | €6,792 | €5,153 | -€1,638 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €81,232 | €94,823 | +€13,591 | +16.7% |
| Income taxes | 67/77 | €29,399 | €34,179 | +€4,780 | +16.3% |
| Profit (loss) for the period | 9904 | €51,833 | €60,644 | +€8,811 | +17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €51,833 | €60,644 | +€8,811 | +17.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.