Leta Mortsel: 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.
Leta Mortsel
Largest movements
- Cash -€34,092
down €34,092 (-32.6%), from €104,663 to €70,571
mainly Investment in fixed assets (net) (-€27,841) and Other debts (-€15,058)
- Receivables within one year +€12,238
up €12,238 (+194%), from €6,316 to €18,554
of which Other amounts receivable: +€16,132
- Tangible fixed assets +€9,548
up €9,548 (+7.5%), from €126,883 to €136,431
of which Plant, machinery and equipment: +€21,746
- Intangible fixed assets -€7,500
down €7,500 (-11.2%), from €66,844 to €59,344
- Other debts -€15,058
down €15,058 (-59.5%), from €25,297 to €10,238
- Debts after one year -€13,892
down €13,892 (-8.7%), from €159,736 to €145,843
- Current portion of long-term debt +€5,810
up €5,810 (+18.5%), from €31,373 to €37,183
- Trade debts +€5,694
up €5,694 (+11.9%), from €47,942 to €53,636
- Staff costs +€16,615
up €16,615 (+14.8%), from €112,574 to €129,188
- Gross operating margin -€8,009
down €8,009 (-4.2%), from €191,459 to €183,450
- Taxes -€3,568
down €3,568 (-55.5%), from €6,434 to €2,866
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €308,704 | €291,984 | -€16,720 | -5.4% |
| Fixed assets | 21/28 | €193,727 | €195,775 | +€2,048 | +1.1% |
| Intangible fixed assets | 21 | €66,844 | €59,344 | -€7,500 | -11.2% |
| Tangible fixed assets | 22/27 | €126,883 | €136,431 | +€9,548 | +7.5% |
| Plant, machinery and equipment | 23 | €28,916 | €50,662 | +€21,746 | +75.2% |
| Furniture and vehicles | 24 | €4,344 | €3,363 | -€981 | -22.6% |
| Other tangible fixed assets | 26 | €93,623 | €82,406 | -€11,217 | -12.0% |
| Current assets | 29/58 | €114,977 | €96,209 | -€18,768 | -16.3% |
| Stocks and contracts in progress | 3 | €3,997 | €6,406 | +€2,408 | +60.2% |
| Stocks | 30/36 | €3,997 | €6,406 | +€2,408 | +60.2% |
| Amounts receivable within one year | 40/41 | €6,316 | €18,554 | +€12,238 | +194% |
| Trade receivables | 40 | €4,220 | €327 | -€3,893 | -92.3% |
| Other amounts receivable | 41 | €2,095 | €18,227 | +€16,132 | +770% |
| Cash at bank and in hand | 54/58 | €104,663 | €70,571 | -€34,092 | -32.6% |
| Deferred charges and accrued income | 490/1 | - | €677 | +€677 | |
| Total equity and liabilities | 10/49 | €308,704 | €291,984 | -€16,720 | -5.4% |
| Equity | 10/15 | €23,876 | €22,826 | -€1,051 | -4.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €3,876 | €2,826 | -€1,051 | -27.1% |
| Distributable reserves | 133 | €3,876 | €2,826 | -€1,051 | -27.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €284,828 | €269,158 | -€15,670 | -5.5% |
| Amounts payable after more than one year | 17 | €159,736 | €145,843 | -€13,892 | -8.7% |
| Financial debts | 170/4 | €159,736 | €145,843 | -€13,892 | -8.7% |
| Amounts payable within one year | 42/48 | €125,092 | €123,314 | -€1,777 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €31,373 | €37,183 | +€5,810 | +18.5% |
| Trade debts | 44 | €47,942 | €53,636 | +€5,694 | +11.9% |
| Suppliers | 440/4 | €47,942 | €53,636 | +€5,694 | +11.9% |
| Taxes, remuneration and social security | 45 | €20,480 | €22,257 | +€1,777 | +8.7% |
| Taxes | 450/3 | €6,614 | €9,489 | +€2,875 | +43.5% |
| Remuneration and social security | 454/9 | €13,866 | €12,769 | -€1,098 | -7.9% |
| Other amounts payable | 47/48 | €25,297 | €10,238 | -€15,058 | -59.5% |
| Remuneration, social security and pensions | 62 | €112,574 | €129,188 | +€16,615 | +14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,813 | €25,793 | -€20 | -0.1% |
| Other operating charges | 640/8 | €1,538 | €1,267 | -€271 | -17.6% |
| Gross operating margin | 9900 | €191,459 | €183,450 | -€8,009 | -4.2% |
| Operating profit (loss) | 9901 | €51,535 | €27,202 | -€24,333 | -47.2% |
| Financial income | 75/76B | €99 | €0 | -€99 | -100% |
| Recurring financial income | 75 | €99 | €0 | -€99 | -100% |
| Financial charges | 65/66B | €16,323 | €15,386 | -€937 | -5.7% |
| Recurring financial charges | 65 | €16,323 | €15,386 | -€937 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | €35,311 | €11,816 | -€23,495 | -66.5% |
| Income taxes | 67/77 | €6,434 | €2,866 | -€3,568 | -55.5% |
| Profit (loss) for the period | 9904 | €28,876 | €8,949 | -€19,927 | -69.0% |
| Profit (loss) for the period to be appropriated | 9905 | €28,876 | €8,949 | -€19,927 | -69.0% |
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 20 October 2026 via checked.be.