LETALI: 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.
LETALI
Largest movements
- Receivables within one year -€26,704
down €26,704 (-84.9%), from €31,461 to €4,756
of which Trade receivables: -€29,704
- Tangible fixed assets -€11,391
down €11,391 (-6.1%), from €188,084 to €176,693
of which Land and buildings: -€10,377
- Cash -€7,690
down €7,690 (-9.0%), from €85,201 to €77,511
mainly Other debts (-€47,370) and Debts after one year (-€21,486)
- Stocks and contracts +€6,523
up €6,523 (+11.0%), from €59,500 to €66,023
- Other debts -€47,370
down €47,370 (-51.0%), from €92,820 to €45,451
- Reserves +€34,252
up €34,252 (+26.1%), from €131,274 to €165,526
- Debts after one year -€21,486
down €21,486 (-24.8%), from €86,589 to €65,103
- Gross operating margin -€26,713
down €26,713 (-29.5%), from €90,594 to €63,880
- Taxes -€6,746
down €6,746 (-36.5%), from €18,467 to €11,721
- Write-downs +€2,000
new in 2025: €2,000
- Other operating charges -€1,848
down €1,848 (-41.3%), from €4,479 to €2,631
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 | €364,840 | €326,386 | -€38,455 | -10.5% |
| Fixed assets | 21/28 | €188,084 | €176,693 | -€11,391 | -6.1% |
| Tangible fixed assets | 22/27 | €188,084 | €176,693 | -€11,391 | -6.1% |
| Land and buildings | 22 | €187,070 | €176,693 | -€10,377 | -5.5% |
| Plant, machinery and equipment | 23 | €505 | €0 | -€505 | -100% |
| Furniture and vehicles | 24 | €509 | €0 | -€509 | -100% |
| Current assets | 29/58 | €176,757 | €149,693 | -€27,064 | -15.3% |
| Stocks and contracts in progress | 3 | €59,500 | €66,023 | +€6,523 | +11.0% |
| Stocks | 30/36 | €59,500 | €66,023 | +€6,523 | +11.0% |
| Amounts receivable within one year | 40/41 | €31,461 | €4,756 | -€26,704 | -84.9% |
| Trade receivables | 40 | €30,715 | €1,011 | -€29,704 | -96.7% |
| Other amounts receivable | 41 | €746 | €3,746 | +€3,000 | +402% |
| Cash at bank and in hand | 54/58 | €85,201 | €77,511 | -€7,690 | -9.0% |
| Deferred charges and accrued income | 490/1 | €595 | €1,403 | +€808 | +136% |
| Total equity and liabilities | 10/49 | €364,840 | €326,386 | -€38,455 | -10.5% |
| Equity | 10/15 | €135,274 | €169,526 | +€34,252 | +25.3% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €131,274 | €165,526 | +€34,252 | +26.1% |
| Distributable reserves | 133 | €131,274 | €165,526 | +€34,252 | +26.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €229,566 | €156,860 | -€72,706 | -31.7% |
| Amounts payable after more than one year | 17 | €86,589 | €65,103 | -€21,486 | -24.8% |
| Financial debts | 170/4 | €86,589 | €65,103 | -€21,486 | -24.8% |
| Amounts payable within one year | 42/48 | €142,977 | €91,757 | -€51,220 | -35.8% |
| Current portion of amounts payable after more than one year | 42 | €21,268 | €21,486 | +€218 | +1.0% |
| Trade debts | 44 | €21,240 | €18,948 | -€2,293 | -10.8% |
| Suppliers | 440/4 | €21,240 | €18,948 | -€2,293 | -10.8% |
| Taxes, remuneration and social security | 45 | €7,648 | €5,873 | -€1,775 | -23.2% |
| Taxes | 450/3 | €7,648 | €5,873 | -€1,775 | -23.2% |
| Other amounts payable | 47/48 | €92,820 | €45,451 | -€47,370 | -51.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,439 | €11,391 | -€48 | -0.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,000 | +€2,000 | |
| Other operating charges | 640/8 | €4,479 | €2,631 | -€1,848 | -41.3% |
| Gross operating margin | 9900 | €90,594 | €63,880 | -€26,713 | -29.5% |
| Operating profit (loss) | 9901 | €74,676 | €47,859 | -€26,817 | -35.9% |
| Financial charges | 65/66B | €2,343 | €1,887 | -€456 | -19.5% |
| Recurring financial charges | 65 | €2,343 | €1,887 | -€456 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | €72,334 | €45,972 | -€26,362 | -36.4% |
| Income taxes | 67/77 | €18,467 | €11,721 | -€6,746 | -36.5% |
| Profit (loss) for the period | 9904 | €53,867 | €34,252 | -€19,615 | -36.4% |
| Profit (loss) for the period to be appropriated | 9905 | €53,867 | €34,252 | -€19,615 | -36.4% |
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 21 October 2026 via checked.be.