LATEM: what changed
Two fiscal 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.
LATEM
Largest movements
- Receivables within one year +€245,025
up €245,025 (+100.0%), from €245,025 to €490,050
- Tangible fixed assets -€51,951
down €51,951 (-2.5%), from €2.1m to €2.1m
of which Land and buildings: -€47,352
- Other debts +€158,781
up €158,781 (+12.5%), from €1.3m to €1.4m
- Debts after one year -€127,080
down €127,080 (-11.3%), from €1.1m to €999,920
- Trade debts +€60,937
up €60,937 (+167.8%), from €36,324 to €97,261
- Profit (loss) carried forward +€54,459
up €54,459 (+27.7%), from -€196,431 to -€141,972
- Depreciation -€314,289
down €314,289 (-85.8%), from €366,240 to €51,951
- Gross operating margin -€101,890
down €101,890 (-35.6%), from €286,541 to €184,652
- Financial charges -€38,674
down €38,674 (-34.0%), from €113,876 to €75,202
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 | €2,379,186 | €2,557,421 | +€178,234 | +7.5% |
| Fixed assets | 21/28 | €2,117,546 | €2,065,596 | -€51,951 | -2.5% |
| Tangible fixed assets | 22/27 | €2,117,546 | €2,065,596 | -€51,951 | -2.5% |
| Land and buildings | 22 | €2,077,226 | €2,029,874 | -€47,352 | -2.3% |
| Furniture and vehicles | 24 | €40,321 | €35,722 | -€4,599 | -11.4% |
| Current assets | 29/58 | €261,640 | €491,825 | +€230,185 | +88.0% |
| Amounts receivable within one year | 40/41 | €245,025 | €490,050 | +€245,025 | +100.0% |
| Trade receivables | 40 | €245,025 | €490,050 | +€245,025 | +100.0% |
| Cash at bank and in hand | 54/58 | €16,221 | €1,363 | -€14,858 | -91.6% |
| Deferred charges and accrued income | 490/1 | €394 | €412 | +€18 | +4.7% |
| Total equity and liabilities | 10/49 | €2,379,186 | €2,557,421 | +€178,234 | +7.5% |
| Equity | 10/15 | -€186,431 | -€131,972 | +€54,459 | +29.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€196,431 | -€141,972 | +€54,459 | +27.7% |
| Amounts payable | 17/49 | €2,565,617 | €2,689,393 | +€123,775 | +4.8% |
| Amounts payable after more than one year | 17 | €1,127,000 | €999,920 | -€127,080 | -11.3% |
| Financial debts | 170/4 | €1,127,000 | €999,920 | -€127,080 | -11.3% |
| Amounts payable within one year | 42/48 | €1,438,617 | €1,666,972 | +€228,355 | +15.9% |
| Current portion of amounts payable after more than one year | 42 | €121,361 | €127,080 | +€5,719 | +4.7% |
| Trade debts | 44 | €36,324 | €97,261 | +€60,937 | +167.8% |
| Suppliers | 440/4 | €36,324 | €97,261 | +€60,937 | +167.8% |
| Taxes, remuneration and social security | 45 | €12,611 | €15,530 | +€2,918 | +23.1% |
| Taxes | 450/3 | €12,611 | €15,530 | +€2,918 | +23.1% |
| Other amounts payable | 47/48 | €1,268,320 | €1,427,101 | +€158,781 | +12.5% |
| Accrued charges and deferred income | 492/3 | - | €22,500 | +€22,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €366,240 | €51,951 | -€314,289 | -85.8% |
| Other operating charges | 640/8 | €3,091 | €3,040 | -€51 | -1.6% |
| Gross operating margin | 9900 | €286,541 | €184,652 | -€101,890 | -35.6% |
| Operating profit (loss) | 9901 | -€82,789 | €129,661 | +€212,450 | |
| Financial income | 75/76B | €234 | €0 | -€234 | -100.0% |
| Recurring financial income | 75 | €234 | €0 | -€234 | -100.0% |
| Financial charges | 65/66B | €113,876 | €75,202 | -€38,674 | -34.0% |
| Recurring financial charges | 65 | €113,876 | €75,202 | -€38,674 | -34.0% |
| Profit (loss) for the period before taxes | 9903 | -€196,431 | €54,459 | +€250,890 | |
| Profit (loss) for the period | 9904 | -€196,431 | €54,459 | +€250,890 | |
| Profit (loss) for the period to be appropriated | 9905 | -€196,431 | €54,459 | +€250,890 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.