LETAGE: 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.
LETAGE
Largest movements
- Cash -€50,193
down €50,193 (-16.5%), from €305,032 to €254,839
mainly Other debts (-€260,873) and Investment in fixed assets (net) (-€25,939)
- Other debts -€260,873
down €260,873 (-91.6%), from €284,772 to €23,899
- Reserves +€224,781
up €224,781 (+1330.4%), from €16,896 to €241,677
- Tax, wage and social debts -€12,182
down €12,182 (-15.6%), from €78,038 to €65,856
of which Taxes: -€12,126
- Trade debts -€10,202
down €10,202 (-20.9%), from €48,804 to €38,601
- Staff costs +€12,480
up €12,480 (+8.8%), from €141,183 to €153,663
- Depreciation +€8,913
up €8,913 (+43.2%), from €20,633 to €29,546
- Taxes -€5,442
down €5,442 (-6.8%), from €79,622 to €74,180
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 | €468,509 | €410,033 | -€58,476 | -12.5% |
| Fixed assets | 21/28 | €102,023 | €98,415 | -€3,608 | -3.5% |
| Tangible fixed assets | 22/27 | €102,023 | €98,415 | -€3,608 | -3.5% |
| Plant, machinery and equipment | 23 | €10,166 | €6,699 | -€3,466 | -34.1% |
| Furniture and vehicles | 24 | €54,329 | €61,751 | +€7,422 | +13.7% |
| Other tangible fixed assets | 26 | €37,529 | €29,965 | -€7,564 | -20.2% |
| Current assets | 29/58 | €366,486 | €311,618 | -€54,868 | -15.0% |
| Stocks and contracts in progress | 3 | €21,962 | €22,928 | +€966 | +4.4% |
| Stocks | 30/36 | €21,962 | €22,928 | +€966 | +4.4% |
| Amounts receivable within one year | 40/41 | €33,167 | €30,218 | -€2,949 | -8.9% |
| Trade receivables | 40 | - | €18,343 | +€18,343 | |
| Other amounts receivable | 41 | €33,167 | €11,875 | -€21,292 | -64.2% |
| Cash at bank and in hand | 54/58 | €305,032 | €254,839 | -€50,193 | -16.5% |
| Deferred charges and accrued income | 490/1 | €6,326 | €3,634 | -€2,692 | -42.6% |
| Total equity and liabilities | 10/49 | €468,509 | €410,033 | -€58,476 | -12.5% |
| Equity | 10/15 | €56,896 | €281,677 | +€224,781 | +395.1% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €16,896 | €241,677 | +€224,781 | +1330.4% |
| Distributable reserves | 133 | €16,896 | €241,677 | +€224,781 | +1330.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €411,614 | €128,356 | -€283,257 | -68.8% |
| Amounts payable within one year | 42/48 | €411,614 | €128,356 | -€283,257 | -68.8% |
| Trade debts | 44 | €48,804 | €38,601 | -€10,202 | -20.9% |
| Suppliers | 440/4 | €48,804 | €38,601 | -€10,202 | -20.9% |
| Taxes, remuneration and social security | 45 | €78,038 | €65,856 | -€12,182 | -15.6% |
| Taxes | 450/3 | €60,312 | €48,187 | -€12,126 | -20.1% |
| Remuneration and social security | 454/9 | €17,726 | €17,669 | -€57 | -0.3% |
| Other amounts payable | 47/48 | €284,772 | €23,899 | -€260,873 | -91.6% |
| Remuneration, social security and pensions | 62 | €141,183 | €153,663 | +€12,480 | +8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,633 | €29,546 | +€8,913 | +43.2% |
| Other operating charges | 640/8 | €4,726 | €3,877 | -€849 | -18.0% |
| Gross operating margin | 9900 | €508,254 | €504,361 | -€3,893 | -0.8% |
| Operating profit (loss) | 9901 | €341,713 | €317,275 | -€24,438 | -7.2% |
| Financial income | 75/76B | €1 | €96 | +€96 | +19120.0% |
| Recurring financial income | 75 | €1 | €96 | +€96 | +19120.0% |
| Financial charges | 65/66B | €1,393 | €1,514 | +€121 | +8.7% |
| Recurring financial charges | 65 | €1,393 | €1,514 | +€121 | +8.7% |
| Profit (loss) for the period before taxes | 9903 | €340,320 | €315,857 | -€24,463 | -7.2% |
| Income taxes | 67/77 | €79,622 | €74,180 | -€5,442 | -6.8% |
| Profit (loss) for the period | 9904 | €260,698 | €241,676 | -€19,022 | -7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €260,698 | €241,676 | -€19,022 | -7.3% |
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 12 October 2026 via checked.be.