LATHY: 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.
LATHY
Largest movements
- Cash +€133,754
up €133,754 (+68.6%), from €194,897 to €328,651
mainly Depreciation (+€157,958) and Net result for the year (+€100,393)
- Tangible fixed assets +€132,147
up €132,147 (+16.5%), from €799,619 to €931,766
of which Plant, machinery and equipment: +€242,347
- Receivables within one year -€51,250
down €51,250 (-43.6%), from €117,560 to €66,310
of which Trade receivables: -€47,843
- Reserves +€97,700
up €97,700 (+16.3%), from €597,755 to €695,455
of which Distributable reserves: +€99,560
- Debts after one year +€80,220
up €80,220 (+19.0%), from €421,149 to €501,369
- Trade debts +€19,962
up €19,962 (+117.8%), from €16,939 to €36,901
- Current portion of long-term debt +€15,613
up €15,613 (+21.0%), from €74,190 to €89,803
- Financial income +€28,579
up €28,579 (+238158.3%), from €12 to €28,591
of which Non-recurring financial income: +€28,580
- Gross operating margin +€21,111
up €21,111 (+7.9%), from €265,585 to €286,696
- Depreciation +€18,279
up €18,279 (+13.1%), from €139,679 to €157,958
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 | €1,137,495 | €1,350,155 | +€212,660 | +18.7% |
| Fixed assets | 21/28 | €799,796 | €931,849 | +€132,053 | +16.5% |
| Intangible fixed assets | 21 | €177 | €83 | -€94 | -53.1% |
| Tangible fixed assets | 22/27 | €799,619 | €931,766 | +€132,147 | +16.5% |
| Land and buildings | 22 | €552,475 | €534,561 | -€17,914 | -3.2% |
| Plant, machinery and equipment | 23 | €139,060 | €381,407 | +€242,347 | +174.3% |
| Furniture and vehicles | 24 | €35,930 | €15,798 | -€20,132 | -56.0% |
| Assets under construction and advance payments | 27 | €72,154 | - | -€72,154 | |
| Current assets | 29/58 | €337,699 | €418,306 | +€80,607 | +23.9% |
| Stocks and contracts in progress | 3 | €18,580 | €15,950 | -€2,630 | -14.2% |
| Stocks | 30/36 | €18,580 | €15,950 | -€2,630 | -14.2% |
| Amounts receivable within one year | 40/41 | €117,560 | €66,310 | -€51,250 | -43.6% |
| Trade receivables | 40 | €99,408 | €51,565 | -€47,843 | -48.1% |
| Other amounts receivable | 41 | €18,152 | €14,745 | -€3,407 | -18.8% |
| Cash at bank and in hand | 54/58 | €194,897 | €328,651 | +€133,754 | +68.6% |
| Deferred charges and accrued income | 490/1 | €6,662 | €7,395 | +€733 | +11.0% |
| Total equity and liabilities | 10/49 | €1,137,495 | €1,350,155 | +€212,660 | +18.7% |
| Equity | 10/15 | €616,355 | €715,915 | +€99,560 | +16.2% |
| Contributions | 10/11 | €18,600 | €20,460 | +€1,860 | +10.0% |
| Reserves | 13 | €597,755 | €695,455 | +€97,700 | +16.3% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €595,895 | €695,455 | +€99,560 | +16.7% |
| Amounts payable | 17/49 | €521,140 | €634,240 | +€113,100 | +21.7% |
| Amounts payable after more than one year | 17 | €421,149 | €501,369 | +€80,220 | +19.0% |
| Financial debts | 170/4 | €421,149 | €501,369 | +€80,220 | +19.0% |
| Amounts payable within one year | 42/48 | €99,991 | €132,871 | +€32,880 | +32.9% |
| Current portion of amounts payable after more than one year | 42 | €74,190 | €89,803 | +€15,613 | +21.0% |
| Trade debts | 44 | €16,939 | €36,901 | +€19,962 | +117.8% |
| Suppliers | 440/4 | €16,939 | €36,901 | +€19,962 | +117.8% |
| Taxes, remuneration and social security | 45 | €3,839 | €328 | -€3,511 | -91.5% |
| Taxes | 450/3 | €3,839 | €328 | -€3,511 | -91.5% |
| Other amounts payable | 47/48 | €5,023 | €5,839 | +€816 | +16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139,679 | €157,958 | +€18,279 | +13.1% |
| Other operating charges | 640/8 | €6,588 | €9,152 | +€2,564 | +38.9% |
| Gross operating margin | 9900 | €265,585 | €286,696 | +€21,111 | +7.9% |
| Operating profit (loss) | 9901 | €119,318 | €119,586 | +€268 | +0.2% |
| Financial income | 75/76B | €12 | €28,591 | +€28,579 | +238158.3% |
| Recurring financial income | 75 | €12 | €11 | -€1 | -8.3% |
| Non-recurring financial income | 76B | - | €28,580 | +€28,580 | |
| Financial charges | 65/66B | €14,031 | €15,981 | +€1,950 | +13.9% |
| Recurring financial charges | 65 | €14,031 | €15,981 | +€1,950 | +13.9% |
| Profit (loss) for the period before taxes | 9903 | €105,299 | €132,196 | +€26,897 | +25.5% |
| Income taxes | 67/77 | €33,750 | €31,803 | -€1,947 | -5.8% |
| Profit (loss) for the period | 9904 | €71,549 | €100,393 | +€28,844 | +40.3% |
| Profit (loss) for the period to be appropriated | 9905 | €71,549 | €100,393 | +€28,844 | +40.3% |
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 5 October 2026 via checked.be.