ERIC LATOUR: 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.
ERIC LATOUR
Largest movements
- Cash -€85,826
down €85,826 (-83.3%), from €103,028 to €17,202
mainly Short-term financial debts (-€2.5m) and Stocks and contracts (-€63,375)
- Stocks and contracts +€63,375
up €63,375 (+5.9%), from €1.1m to €1.1m
- Debts after one year +€2.5m
new in 2025: €2.5m
- Short-term financial debts -€2.5m
no longer reported in 2025 (was €2.5m)
- Other debts -€43,923
down €43,923 (-96.9%), from €45,314 to €1,392
- Financial charges -€33,208
down €33,208 (-25.2%), from €131,712 to €98,503
of which Financial charges: -€38,894
- Gross operating margin +€24,986
up €24,986 (+120.3%), from €20,773 to €45,759
- Financial income -€5,320
down €5,320 (-9.0%), from €59,360 to €54,040
- Other operating charges -€743
down €743 (-13.9%), from €5,335 to €4,592
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 | €2,757,164 | €2,699,518 | -€57,646 | -2.1% |
| Fixed assets | 21/28 | €98,085 | €83,534 | -€14,551 | -14.8% |
| Tangible fixed assets | 22/27 | €92,085 | €83,534 | -€8,551 | -9.3% |
| Land and buildings | 22 | €92,085 | €83,534 | -€8,551 | -9.3% |
| Financial fixed assets | 28 | €6,000 | - | -€6,000 | |
| Current assets | 29/58 | €2,659,080 | €2,615,985 | -€43,095 | -1.6% |
| Amounts receivable after more than one year | 29 | €1,400,000 | €1,400,000 | = | 0.0% |
| Other amounts receivable | 291 | €1,400,000 | €1,400,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €1,080,087 | €1,143,462 | +€63,375 | +5.9% |
| Stocks | 30/36 | €1,080,087 | €1,143,462 | +€63,375 | +5.9% |
| Amounts receivable within one year | 40/41 | €74,655 | €54,159 | -€20,496 | -27.5% |
| Trade receivables | 40 | €519 | €119 | -€400 | -77.0% |
| Other amounts receivable | 41 | €74,136 | €54,040 | -€20,096 | -27.1% |
| Cash at bank and in hand | 54/58 | €103,028 | €17,202 | -€85,826 | -83.3% |
| Deferred charges and accrued income | 490/1 | €1,309 | €1,161 | -€148 | -11.3% |
| Total equity and liabilities | 10/49 | €2,757,164 | €2,699,518 | -€57,646 | -2.1% |
| Equity | 10/15 | €208,881 | €197,034 | -€11,847 | -5.7% |
| Contributions | 10/11 | €260,000 | €260,000 | = | 0.0% |
| Capital | 10 | €260,000 | €260,000 | = | 0.0% |
| Issued capital | 100 | €260,000 | €260,000 | = | 0.0% |
| Reserves | 13 | €32,920 | €32,920 | = | 0.0% |
| Non-distributable reserves | 130/1 | €32,920 | €32,920 | = | 0.0% |
| Legal reserve | 130 | €32,920 | €32,920 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€84,039 | -€95,886 | -€11,847 | -14.1% |
| Amounts payable | 17/49 | €2,548,283 | €2,502,484 | -€45,799 | -1.8% |
| Amounts payable after more than one year | 17 | - | €2,500,000 | +€2.5m | |
| Financial debts | 170/4 | - | €2,500,000 | +€2.5m | |
| Amounts payable within one year | 42/48 | €2,546,766 | €1,392 | -€2.5m | -99.9% |
| Financial debts | 43 | €2,500,000 | - | -€2.5m | |
| Credit institutions | 430/8 | €2,500,000 | - | -€2.5m | |
| Trade debts | 44 | €1,452 | - | -€1,452 | |
| Suppliers | 440/4 | €1,452 | - | -€1,452 | |
| Other amounts payable | 47/48 | €45,314 | €1,392 | -€43,923 | -96.9% |
| Accrued charges and deferred income | 492/3 | €1,517 | €1,093 | -€424 | -28.0% |
| Non-recurring operating income | 76A | €10,599 | €19,771 | +€9,171 | +86.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,551 | €8,551 | -€0 | 0.0% |
| Other operating charges | 640/8 | €5,335 | €4,592 | -€743 | -13.9% |
| Non-recurring operating charges | 66A | €146 | - | -€146 | |
| Gross operating margin | 9900 | €20,773 | €45,759 | +€24,986 | +120.3% |
| Operating profit (loss) | 9901 | €6,741 | €32,616 | +€25,875 | +383.9% |
| Financial income | 75/76B | €59,360 | €54,040 | -€5,320 | -9.0% |
| Recurring financial income | 75 | €59,360 | €54,040 | -€5,320 | -9.0% |
| Financial charges | 65/66B | €131,712 | €98,503 | -€33,208 | -25.2% |
| Recurring financial charges | 65 | €131,712 | €92,817 | -€38,894 | -29.5% |
| Non-recurring financial charges | 66B | - | €5,686 | +€5,686 | |
| Profit (loss) for the period before taxes | 9903 | -€65,611 | -€11,847 | +€53,764 | +81.9% |
| Profit (loss) for the period | 9904 | -€65,611 | -€11,847 | +€53,764 | +81.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€65,611 | -€11,847 | +€53,764 | +81.9% |
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 9 October 2026 via checked.be.