LAETITIA DELFAR: 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.
LAETITIA DELFAR
Largest movements
- Receivables within one year +€277,924
up €277,924 (+172%), from €161,802 to €439,726
of which Trade receivables: +€228,134
- Cash +€228,117
up €228,117 (+60.0%), from €380,189 to €608,307
mainly Net result for the year (+€500,239) and Other debts (+€460,146)
- Other debts +€460,146
up €460,146 (+215%), from €214,452 to €674,599
- Profit (loss) carried forward -€144,240
no longer reported in 2025 (was €144,240)
- Tax, wage and social debts +€98,993
up €98,993 (+225%), from €44,060 to €143,054
- Trade debts +€92,565
up €92,565 (+64.7%), from €143,084 to €235,650
- Gross operating margin +€78,819
up €78,819 (+13.2%), from €595,681 to €674,499
- Taxes +€14,017
up €14,017 (+9.2%), from €152,935 to €166,952
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 | €550,837 | €1,058,302 | +€507,466 | +92.1% |
| Fixed assets | 21/28 | €8,845 | €10,269 | +€1,424 | +16.1% |
| Tangible fixed assets | 22/27 | €8,845 | €10,269 | +€1,424 | +16.1% |
| Furniture and vehicles | 24 | - | €2,424 | +€2,424 | |
| Other tangible fixed assets | 26 | €8,845 | €7,846 | -€1,000 | -11.3% |
| Current assets | 29/58 | €541,991 | €1,048,033 | +€506,042 | +93.4% |
| Amounts receivable within one year | 40/41 | €161,802 | €439,726 | +€277,924 | +172% |
| Trade receivables | 40 | €129,467 | €357,601 | +€228,134 | +176% |
| Other amounts receivable | 41 | €32,334 | €82,125 | +€49,790 | +154% |
| Cash at bank and in hand | 54/58 | €380,189 | €608,307 | +€228,117 | +60.0% |
| Total equity and liabilities | 10/49 | €550,837 | €1,058,302 | +€507,466 | +92.1% |
| Equity | 10/15 | €149,240 | €5,000 | -€144,240 | -96.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €144,240 | - | -€144,240 | |
| Amounts payable | 17/49 | €401,597 | €1,053,302 | +€651,705 | +162% |
| Amounts payable within one year | 42/48 | €401,597 | €1,053,302 | +€651,705 | +162% |
| Trade debts | 44 | €143,084 | €235,650 | +€92,565 | +64.7% |
| Suppliers | 440/4 | €143,084 | €235,650 | +€92,565 | +64.7% |
| Taxes, remuneration and social security | 45 | €44,060 | €143,054 | +€98,993 | +225% |
| Taxes | 450/3 | €44,060 | €143,054 | +€98,993 | +225% |
| Other amounts payable | 47/48 | €214,452 | €674,599 | +€460,146 | +215% |
| Non-recurring operating income | 76A | - | €755 | +€755 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,076 | €1,540 | +€464 | +43.2% |
| Other operating charges | 640/8 | €1,012 | €4,099 | +€3,087 | +305% |
| Gross operating margin | 9900 | €595,681 | €674,499 | +€78,819 | +13.2% |
| Operating profit (loss) | 9901 | €593,593 | €668,860 | +€75,267 | +12.7% |
| Financial income | 75/76B | €407 | - | -€407 | |
| Recurring financial income | 75 | €407 | - | -€407 | |
| Financial charges | 65/66B | €1,297 | €1,669 | +€372 | +28.7% |
| Recurring financial charges | 65 | €1,297 | €1,669 | +€372 | +28.7% |
| Profit (loss) for the period before taxes | 9903 | €592,703 | €667,192 | +€74,488 | +12.6% |
| Income taxes | 67/77 | €152,935 | €166,952 | +€14,017 | +9.2% |
| Profit (loss) for the period | 9904 | €439,768 | €500,239 | +€60,471 | +13.8% |
| Profit (loss) for the period to be appropriated | 9905 | €439,768 | €500,239 | +€60,471 | +13.8% |
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 23 October 2026 via checked.be.