LATEMWAARTS: 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.
What changed
LATEMWAARTS
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€158,633
2024 · €138,472+€20,161
Equity
€3.6m
2024 · €3.4m+€158,633
Cash
€89,363
2024 · €42,694+€46,668
Balance sheet total
€6.1m
2024 · €7.1m-€1.1m
Largest movements
Assets
- Stocks and contracts -€1.3m
down €1.3m (-94.7%), from €1.4m to €74,033
- Current investments +€400,000
new in 2025: €400,000
- Tangible fixed assets -€258,484
down €258,484 (-4.6%), from €5.6m to €5.4m
of which Other tangible fixed assets: -€158,506
Equity and liabilities
- Short-term financial debts -€660,000
down €660,000 (-100%), from €660,000 to €0
- Other debts -€403,691
down €403,691 (-25.6%), from €1.6m to €1.2m
- Profit (loss) carried forward +€214,551
up €214,551 (+35.9%), from €598,018 to €812,569
- Debts after one year -€125,182
down €125,182 (-14.4%), from €871,758 to €746,577
Income statement
- Financial charges -€21,983
down €21,983 (-27.8%), from €79,049 to €57,066
- Depreciation +€6,238
up €6,238 (+2.2%), from €283,135 to €289,372
- Financial income +€5,968
up €5,968 (+2,455%), from €243 to €6,212
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.
Result 2024
€138,472
Gross operating margin
-€934
Depreciation
-€6,238
Other operating charges
+€3,405
Financial income
+€5,968
Financial charges
+€21,983
Taxes
-€4,023
Result 2025
€158,633
raises the resultlowers the result
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.
From operations
+€1.3m
Investment
-€430,888
Financing
-€786,697
Cash 2024
€42,694
From operations (derived)
+€1.3m
Net result for the year
+€158,633
Depreciation
+€289,372
Stocks and contracts
+€1.3m
Receivables within one year
-€70,983
Deferred charges and accrued income
-€753
Provisions
-€16,077
Trade debts
+€24,788
Tax, wage and social debts
-€26,672
Other debts
-€403,691
Accrued charges and deferred income
-€5,900
Investment (derived)
-€430,888
Investment in fixed assets (net)
-€30,888
Current investments
-€400,000
Financing
-€786,697
Debts after one year
-€125,182
Current portion of long-term debt
-€1,515
Short-term financial debts
-€660,000
Cash 2025
€89,363
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,139,494 | €6,083,878 | -€1.1m | -14.8% |
| Fixed assets | 21/28 | €5,640,634 | €5,382,150 | -€258,484 | -4.6% |
| Tangible fixed assets | 22/27 | €5,640,634 | €5,382,150 | -€258,484 | -4.6% |
| Land and buildings | 22 | €2,398,350 | €2,318,386 | -€79,964 | -3.3% |
| Furniture and vehicles | 24 | €172,228 | €152,214 | -€20,014 | -11.6% |
| Other tangible fixed assets | 26 | €3,070,057 | €2,911,551 | -€158,506 | -5.2% |
| Current assets | 29/58 | €1,498,860 | €701,728 | -€797,132 | -53.2% |
| Stocks and contracts in progress | 3 | €1,389,570 | €74,033 | -€1.3m | -94.7% |
| Stocks | 30/36 | €1,389,570 | €74,033 | -€1.3m | -94.7% |
| Amounts receivable within one year | 40/41 | €52,858 | €123,841 | +€70,983 | +134% |
| Trade receivables | 40 | €45,882 | €116,053 | +€70,172 | +153% |
| Other amounts receivable | 41 | €6,976 | €7,788 | +€811 | +11.6% |
| Current investments | 50/53 | - | €400,000 | +€400,000 | |
| Cash at bank and in hand | 54/58 | €42,694 | €89,363 | +€46,668 | +109% |
| Deferred charges and accrued income | 490/1 | €13,738 | €14,491 | +€753 | +5.5% |
| Total equity and liabilities | 10/49 | €7,139,494 | €6,083,878 | -€1.1m | -14.8% |
| Equity | 10/15 | €3,417,393 | €3,576,026 | +€158,633 | +4.6% |
| Contributions | 10/11 | €345,028 | €345,028 | = | 0.0% |
| Capital | 10 | €345,000 | €345,000 | = | 0.0% |
| Issued capital | 100 | €345,000 | €345,000 | = | 0.0% |
| Contributions outside capital | 11 | €28 | €28 | = | 0.0% |
| Share premium | 1100/10 | €28 | €28 | = | 0.0% |
| Reserves | 13 | €2,474,347 | €2,418,429 | -€55,918 | -2.3% |
| Non-distributable reserves | 130/1 | €34,500 | €34,500 | = | 0.0% |
| Legal reserve | 130 | €34,500 | €34,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,463,283 | €1,407,365 | -€55,918 | -3.8% |
| Distributable reserves | 133 | €976,564 | €976,564 | = | 0.0% |
| Profit (loss) carried forward | 14 | €598,018 | €812,569 | +€214,551 | +35.9% |
| Provisions and deferred taxes | 16 | €398,070 | €381,993 | -€16,077 | -4.0% |
| Deferred taxes | 168 | €398,070 | €381,993 | -€16,077 | -4.0% |
| Amounts payable | 17/49 | €3,324,032 | €2,125,859 | -€1.2m | -36.0% |
| Amounts payable after more than one year | 17 | €871,758 | €746,577 | -€125,182 | -14.4% |
| Financial debts | 170/4 | €871,758 | €746,577 | -€125,182 | -14.4% |
| Amounts payable within one year | 42/48 | €2,411,102 | €1,344,010 | -€1.1m | -44.3% |
| Current portion of amounts payable after more than one year | 42 | €77,949 | €76,433 | -€1,515 | -1.9% |
| Financial debts | 43 | €660,000 | €0 | -€660,000 | -100% |
| Credit institutions | 430/8 | €660,000 | €0 | -€660,000 | -100% |
| Trade debts | 44 | €48,923 | €73,711 | +€24,788 | +50.7% |
| Suppliers | 440/4 | €48,923 | €73,711 | +€24,788 | +50.7% |
| Taxes, remuneration and social security | 45 | €44,910 | €18,238 | -€26,672 | -59.4% |
| Taxes | 450/3 | €44,910 | €18,238 | -€26,672 | -59.4% |
| Other amounts payable | 47/48 | €1,579,320 | €1,175,628 | -€403,691 | -25.6% |
| Accrued charges and deferred income | 492/3 | €41,172 | €35,272 | -€5,900 | -14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €283,135 | €289,372 | +€6,238 | +2.2% |
| Other operating charges | 640/8 | €42,970 | €39,566 | -€3,405 | -7.9% |
| Gross operating margin | 9900 | €586,090 | €585,156 | -€934 | -0.2% |
| Operating profit (loss) | 9901 | €259,985 | €256,218 | -€3,767 | -1.4% |
| Financial income | 75/76B | €243 | €6,212 | +€5,968 | +2,455% |
| Recurring financial income | 75 | €243 | €6,212 | +€5,968 | +2,455% |
| Financial charges | 65/66B | €79,049 | €57,066 | -€21,983 | -27.8% |
| Recurring financial charges | 65 | €79,049 | €57,066 | -€21,983 | -27.8% |
| Profit (loss) for the period before taxes | 9903 | €181,179 | €205,364 | +€24,185 | +13.3% |
| Transfer from deferred taxes | 780 | €16,077 | €16,077 | = | 0.0% |
| Income taxes | 67/77 | €58,784 | €62,808 | +€4,023 | +6.8% |
| Profit (loss) for the period | 9904 | €138,472 | €158,633 | +€20,161 | +14.6% |
| Transfer from tax-exempt reserves | 789 | €55,918 | €55,918 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €194,390 | €214,551 | +€20,161 | +10.4% |
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 28 October 2026 via checked.be.