LATEUR: what changed
LATEUR
Largest movements
- Stocks and contracts +€159,341
up €159,341 (+32.2%), from €495,206 to €654,547
- Cash -€91,693
down €91,693 (-36.8%), from €248,981 to €157,287
mainly Stocks and contracts (-€159,341) and Investment in fixed assets (net) (-€46,009)
- Receivables within one year -€54,560
down €54,560 (-34.2%), from €159,706 to €105,146
of which Trade receivables: -€67,228
- Tangible fixed assets -€50,161
down €50,161 (-12.9%), from €387,358 to €337,197
of which Furniture and vehicles: -€43,105
- Trade debts -€44,233
down €44,233 (-11.6%), from €381,537 to €337,303
- Reserves +€32,312
up €32,312 (+8.5%), from €379,562 to €411,874
of which Distributable reserves: +€40,206
- Staff costs +€60,656
up €60,656 (+18.0%), from €337,880 to €398,536
- Gross operating margin +€32,050
up €32,050 (+5.9%), from €539,743 to €571,793
- Taxes -€11,405
down €11,405 (-32.9%), from €34,697 to €23,292
- Depreciation +€9,672
up €9,672 (+11.2%), from €86,497 to €96,169
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,291,399 | €1,254,326 | -€37,073 | -2.9% |
| Fixed assets | 21/28 | €387,507 | €337,346 | -€50,161 | -12.9% |
| Tangible fixed assets | 22/27 | €387,358 | €337,197 | -€50,161 | -12.9% |
| Land and buildings | 22 | €75,530 | €72,361 | -€3,169 | -4.2% |
| Plant, machinery and equipment | 23 | €41,159 | €37,273 | -€3,887 | -9.4% |
| Furniture and vehicles | 24 | €270,668 | €227,564 | -€43,105 | -15.9% |
| Financial fixed assets | 28 | €149 | €149 | = | 0.0% |
| Current assets | 29/58 | €903,893 | €916,980 | +€13,088 | +1.4% |
| Stocks and contracts in progress | 3 | €495,206 | €654,547 | +€159,341 | +32.2% |
| Stocks | 30/36 | €495,206 | €654,547 | +€159,341 | +32.2% |
| Amounts receivable within one year | 40/41 | €159,706 | €105,146 | -€54,560 | -34.2% |
| Trade receivables | 40 | €158,859 | €91,631 | -€67,228 | -42.3% |
| Other amounts receivable | 41 | €847 | €13,515 | +€12,668 | +1,496% |
| Cash at bank and in hand | 54/58 | €248,981 | €157,287 | -€91,693 | -36.8% |
| Total equity and liabilities | 10/49 | €1,291,399 | €1,254,326 | -€37,073 | -2.9% |
| Equity | 10/15 | €452,725 | €485,037 | +€32,312 | +7.1% |
| Contributions | 10/11 | €90,350 | €90,350 | = | 0.0% |
| Reserves | 13 | €379,562 | €411,874 | +€32,312 | +8.5% |
| Tax-exempt reserves | 132 | €7,894 | - | -€7,894 | |
| Distributable reserves | 133 | €371,668 | €411,874 | +€40,206 | +10.8% |
| Profit (loss) carried forward | 14 | -€17,187 | -€17,187 | = | 0.0% |
| Amounts payable | 17/49 | €838,675 | €769,289 | -€69,386 | -8.3% |
| Amounts payable after more than one year | 17 | €14,635 | €7,076 | -€7,559 | -51.6% |
| Financial debts | 170/4 | €14,635 | €7,076 | -€7,559 | -51.6% |
| Amounts payable within one year | 42/48 | €824,039 | €762,213 | -€61,827 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €307,395 | €307,559 | +€164 | +0.1% |
| Trade debts | 44 | €381,537 | €337,303 | -€44,233 | -11.6% |
| Suppliers | 440/4 | €381,537 | €337,303 | -€44,233 | -11.6% |
| Taxes, remuneration and social security | 45 | €100,336 | €91,228 | -€9,108 | -9.1% |
| Taxes | 450/3 | €49,620 | €28,519 | -€21,101 | -42.5% |
| Remuneration and social security | 454/9 | €50,716 | €62,709 | +€11,993 | +23.6% |
| Other amounts payable | 47/48 | €34,773 | €26,123 | -€8,650 | -24.9% |
| Remuneration, social security and pensions | 62 | €337,880 | €398,536 | +€60,656 | +18.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,497 | €96,169 | +€9,672 | +11.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €264 | +€264 | |
| Other operating charges | 640/8 | €1,389 | €2,108 | +€720 | +51.9% |
| Gross operating margin | 9900 | €539,743 | €571,793 | +€32,050 | +5.9% |
| Operating profit (loss) | 9901 | €113,977 | €74,716 | -€39,262 | -34.4% |
| Financial income | 75/76B | €243 | €2,554 | +€2,310 | +949% |
| Recurring financial income | 75 | €243 | €2,554 | +€2,310 | +949% |
| Financial charges | 65/66B | €21,892 | €21,665 | -€226 | -1.0% |
| Recurring financial charges | 65 | €21,892 | €21,665 | -€226 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | €92,329 | €55,604 | -€36,725 | -39.8% |
| Income taxes | 67/77 | €34,697 | €23,292 | -€11,405 | -32.9% |
| Profit (loss) for the period | 9904 | €57,633 | €32,312 | -€25,320 | -43.9% |
| Transfer from tax-exempt reserves | 789 | - | €7,894 | +€7,894 | |
| Profit (loss) for the period to be appropriated | 9905 | €57,633 | €40,206 | -€17,426 | -30.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.