LATIEF: 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.
LATIEF
Largest movements
- Receivables within one year +€91,881
up €91,881 (+717.5%), from €12,806 to €104,686
of which Trade receivables: +€104,123
- Tangible fixed assets -€83,208
down €83,208 (-6.9%), from €1.2m to €1.1m
of which Land and buildings: -€64,290
- Stocks and contracts +€58,557
up €58,557 (+43.9%), from €133,456 to €192,013
- Reserves +€67,349
up €67,349 (+7.4%), from €907,067 to €974,416
- Tax, wage and social debts +€51,663
up €51,663 (+160.1%), from €32,266 to €83,930
of which Taxes: +€51,663
- Trade debts -€50,555
down €50,555 (-73.1%), from €69,184 to €18,629
- Debts after one year -€48,403
down €48,403 (-10.1%), from €479,286 to €430,883
of which Financial debts: -€30,000
- Other debts +€37,439
up €37,439 (+43.3%), from €86,495 to €123,933
- Depreciation +€11,198
up €11,198 (+15.2%), from €73,782 to €84,980
- Gross operating margin +€9,353
up €9,353 (+2.4%), from €389,179 to €398,532
- Taxes +€6,127
up €6,127 (+7.4%), from €82,890 to €89,017
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 | €1,632,450 | €1,685,936 | +€53,486 | +3.3% |
| Fixed assets | 21/28 | €1,295,432 | €1,212,223 | -€83,208 | -6.4% |
| Intangible fixed assets | 21 | €1 | €1 | -€0 | -22.7% |
| Tangible fixed assets | 22/27 | €1,212,260 | €1,129,052 | -€83,208 | -6.9% |
| Land and buildings | 22 | €1,133,485 | €1,069,195 | -€64,290 | -5.7% |
| Plant, machinery and equipment | 23 | €28,830 | €23,401 | -€5,429 | -18.8% |
| Furniture and vehicles | 24 | €49,944 | €36,455 | -€13,489 | -27.0% |
| Financial fixed assets | 28 | €83,171 | €83,171 | = | 0.0% |
| Current assets | 29/58 | €337,019 | €473,713 | +€136,694 | +40.6% |
| Amounts receivable after more than one year | 29 | €55,178 | €57,385 | +€2,207 | +4.0% |
| Other amounts receivable | 291 | €55,178 | €57,385 | +€2,207 | +4.0% |
| Stocks and contracts in progress | 3 | €133,456 | €192,013 | +€58,557 | +43.9% |
| Stocks | 30/36 | €133,456 | €192,013 | +€58,557 | +43.9% |
| Amounts receivable within one year | 40/41 | €12,806 | €104,686 | +€91,881 | +717.5% |
| Trade receivables | 40 | €564 | €104,686 | +€104,123 | +18473.3% |
| Other amounts receivable | 41 | €12,242 | - | -€12,242 | |
| Cash at bank and in hand | 54/58 | €132,607 | €118,289 | -€14,318 | -10.8% |
| Deferred charges and accrued income | 490/1 | €2,973 | €1,340 | -€1,632 | -54.9% |
| Total equity and liabilities | 10/49 | €1,632,450 | €1,685,936 | +€53,486 | +3.3% |
| Equity | 10/15 | €925,667 | €993,016 | +€67,349 | +7.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €907,067 | €974,416 | +€67,349 | +7.4% |
| Distributable reserves | 133 | €907,067 | €974,416 | +€67,349 | +7.4% |
| Amounts payable | 17/49 | €706,783 | €692,920 | -€13,863 | -2.0% |
| Amounts payable after more than one year | 17 | €479,286 | €430,883 | -€48,403 | -10.1% |
| Financial debts | 170/4 | €60,000 | €30,000 | -€30,000 | -50.0% |
| Other amounts payable | 178/9 | €419,286 | €400,883 | -€18,403 | -4.4% |
| Amounts payable within one year | 42/48 | €225,788 | €256,492 | +€30,703 | +13.6% |
| Current portion of amounts payable after more than one year | 42 | €37,843 | €30,000 | -€7,843 | -20.7% |
| Trade debts | 44 | €69,184 | €18,629 | -€50,555 | -73.1% |
| Suppliers | 440/4 | €69,184 | €18,629 | -€50,555 | -73.1% |
| Taxes, remuneration and social security | 45 | €32,266 | €83,930 | +€51,663 | +160.1% |
| Taxes | 450/3 | €30,441 | €82,105 | +€51,663 | +169.7% |
| Remuneration and social security | 454/9 | €1,825 | €1,825 | = | 0.0% |
| Other amounts payable | 47/48 | €86,495 | €123,933 | +€37,439 | +43.3% |
| Accrued charges and deferred income | 492/3 | €1,709 | €5,546 | +€3,837 | +224.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,782 | €84,980 | +€11,198 | +15.2% |
| Other operating charges | 640/8 | €9,130 | €9,355 | +€225 | +2.5% |
| Gross operating margin | 9900 | €389,179 | €398,532 | +€9,353 | +2.4% |
| Operating profit (loss) | 9901 | €306,267 | €304,197 | -€2,070 | -0.7% |
| Financial income | 75/76B | €2,122 | €2,207 | +€85 | +4.0% |
| Recurring financial income | 75 | €2,122 | €2,207 | +€85 | +4.0% |
| Financial charges | 65/66B | €33,162 | €31,864 | -€1,297 | -3.9% |
| Recurring financial charges | 65 | €33,162 | €31,864 | -€1,297 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | €275,228 | €274,540 | -€687 | -0.2% |
| Income taxes | 67/77 | €82,890 | €89,017 | +€6,127 | +7.4% |
| Profit (loss) for the period | 9904 | €192,338 | €185,524 | -€6,814 | -3.5% |
| Profit (loss) for the period to be appropriated | 9905 | €192,338 | €185,524 | -€6,814 | -3.5% |
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.