EV LATEM: 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.
EV LATEM
Largest movements
- Receivables within one year -€36,747
down €36,747 (-17.8%), from €206,290 to €169,543
of which Trade receivables: -€37,617
- Cash +€10,418
up €10,418 (+21.9%), from €47,573 to €57,991
mainly Advances received (+€183,528) and Other debts (+€76,728)
- Tangible fixed assets -€5,931
down €5,931 (-33.5%), from €17,695 to €11,764
- Short-term financial debts -€265,618
no longer reported in 2025 (was €265,618)
of which Other loans: -€229,320
- Advances received +€183,528
new in 2025: €183,528
- Other debts +€76,728
up €76,728 (+487%), from €15,743 to €92,471
- Debts after one year -€35,785
down €35,785 (-64.3%), from €55,642 to €19,857
of which Financial debts: -€22,010
- Current portion of long-term debt +€24,358
up €24,358 (+635%), from €3,833 to €28,191
- Gross operating margin +€51,602
up €51,602, from -€22,476 to €29,126
- Taxes +€6,845
up €6,845 (+2,338%), from €293 to €7,138
- Other operating charges +€2,143
up €2,143 (+241%), from €890 to €3,033
- Financial income -€616
no longer reported in 2025 (was €616)
- Financial charges +€577
up €577 (+25.5%), from €2,265 to €2,842
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 | €271,848 | €239,298 | -€32,550 | -12.0% |
| Fixed assets | 21/28 | €17,695 | €11,764 | -€5,931 | -33.5% |
| Tangible fixed assets | 22/27 | €17,695 | €11,764 | -€5,931 | -33.5% |
| Furniture and vehicles | 24 | €17,695 | €11,764 | -€5,931 | -33.5% |
| Current assets | 29/58 | €254,153 | €227,534 | -€26,619 | -10.5% |
| Amounts receivable within one year | 40/41 | €206,290 | €169,543 | -€36,747 | -17.8% |
| Trade receivables | 40 | €206,290 | €168,672 | -€37,617 | -18.2% |
| Other amounts receivable | 41 | - | €870 | +€870 | |
| Cash at bank and in hand | 54/58 | €47,573 | €57,991 | +€10,418 | +21.9% |
| Deferred charges and accrued income | 490/1 | €290 | - | -€290 | |
| Total equity and liabilities | 10/49 | €271,848 | €239,298 | -€32,550 | -12.0% |
| Equity | 10/15 | -€113,606 | -€105,793 | +€7,813 | +6.9% |
| Contributions | 10/11 | €308,600 | €308,600 | = | 0.0% |
| Contributions outside capital | 11 | €308,600 | €308,600 | = | 0.0% |
| Other | 1109/19 | €308,600 | €308,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€422,206 | -€414,393 | +€7,813 | +1.9% |
| Amounts payable | 17/49 | €385,454 | €345,091 | -€40,363 | -10.5% |
| Amounts payable after more than one year | 17 | €55,642 | €19,857 | -€35,785 | -64.3% |
| Financial debts | 170/4 | €34,435 | €12,424 | -€22,010 | -63.9% |
| Other amounts payable | 178/9 | €21,207 | €7,433 | -€13,775 | -65.0% |
| Amounts payable within one year | 42/48 | €329,812 | €325,234 | -€4,578 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €3,833 | €28,191 | +€24,358 | +635% |
| Financial debts | 43 | €265,618 | - | -€265,618 | |
| Credit institutions | 430/8 | €36,298 | - | -€36,298 | |
| Other loans | 439 | €229,320 | - | -€229,320 | |
| Trade debts | 44 | €32,407 | €16,857 | -€15,549 | -48.0% |
| Suppliers | 440/4 | €32,407 | €16,857 | -€15,549 | -48.0% |
| Advances received on contracts in progress | 46 | - | €183,528 | +€183,528 | |
| Taxes, remuneration and social security | 45 | €12,211 | €4,186 | -€8,025 | -65.7% |
| Taxes | 450/3 | €9,706 | €3,895 | -€5,811 | -59.9% |
| Remuneration and social security | 454/9 | €2,505 | €291 | -€2,214 | -88.4% |
| Other amounts payable | 47/48 | €15,743 | €92,471 | +€76,728 | +487% |
| Remuneration, social security and pensions | 62 | €148 | - | -€148 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,803 | €5,931 | +€129 | +2.2% |
| Other operating charges | 640/8 | €890 | €3,033 | +€2,143 | +241% |
| Non-recurring operating charges | 66A | €19,543 | €2,368 | -€17,175 | -87.9% |
| Gross operating margin | 9900 | -€22,476 | €29,126 | +€51,602 | |
| Operating profit (loss) | 9901 | -€48,860 | €17,793 | +€66,653 | |
| Financial income | 75/76B | €616 | - | -€616 | |
| Recurring financial income | 75 | €616 | - | -€616 | |
| Financial charges | 65/66B | €2,265 | €2,842 | +€577 | +25.5% |
| Recurring financial charges | 65 | €2,265 | €2,842 | +€577 | +25.5% |
| Profit (loss) for the period before taxes | 9903 | -€50,508 | €14,951 | +€65,459 | |
| Income taxes | 67/77 | €293 | €7,138 | +€6,845 | +2,338% |
| Profit (loss) for the period | 9904 | -€50,801 | €7,813 | +€58,615 | |
| Profit (loss) for the period to be appropriated | 9905 | -€50,801 | €7,813 | +€58,615 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.