LETEN: 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.
LETEN
Largest movements
- Cash +€228,061
up €228,061 (+112.0%), from €203,642 to €431,703
mainly Receivables within one year (+€173,208) and Net result for the year (+€84,117)
- Receivables within one year -€173,208
down €173,208 (-42.2%), from €410,050 to €236,842
of which Trade receivables: -€119,243
- Stocks and contracts +€12,247
up €12,247 (+40.8%), from €30,028 to €42,275
- Tangible fixed assets -€8,353
down €8,353 (-20.9%), from €39,903 to €31,550
of which Furniture and vehicles: -€7,795
- Reserves +€84,117
up €84,117 (+16.2%), from €520,607 to €604,724
- Other debts -€37,906
no longer reported in 2025 (was €37,906)
- Tax, wage and social debts +€30,187
up €30,187 (+33.7%), from €89,580 to €119,767
of which Remuneration and social security: +€24,871
- Debts after one year -€12,250
down €12,250 (-49.5%), from €24,772 to €12,522
- Gross operating margin -€28,276
down €28,276 (-7.5%), from €375,716 to €347,440
- Taxes -€22,993
down €22,993 (-38.1%), from €60,291 to €37,299
- Staff costs +€18,557
up €18,557 (+9.6%), from €192,309 to €210,866
- Financial income +€10,871
up €10,871 (+858.4%), from €1,266 to €12,138
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 | €700,035 | €764,797 | +€64,762 | +9.3% |
| Fixed assets | 21/28 | €47,556 | €39,202 | -€8,353 | -17.6% |
| Tangible fixed assets | 22/27 | €39,903 | €31,550 | -€8,353 | -20.9% |
| Plant, machinery and equipment | 23 | €1,221 | €663 | -€558 | -45.7% |
| Furniture and vehicles | 24 | €38,682 | €30,887 | -€7,795 | -20.2% |
| Financial fixed assets | 28 | €7,652 | €7,652 | = | 0.0% |
| Current assets | 29/58 | €652,480 | €725,595 | +€73,115 | +11.2% |
| Stocks and contracts in progress | 3 | €30,028 | €42,275 | +€12,247 | +40.8% |
| Stocks | 30/36 | €30,028 | €42,275 | +€12,247 | +40.8% |
| Amounts receivable within one year | 40/41 | €410,050 | €236,842 | -€173,208 | -42.2% |
| Trade receivables | 40 | €326,309 | €207,067 | -€119,243 | -36.5% |
| Other amounts receivable | 41 | €83,741 | €29,775 | -€53,966 | -64.4% |
| Cash at bank and in hand | 54/58 | €203,642 | €431,703 | +€228,061 | +112.0% |
| Deferred charges and accrued income | 490/1 | €8,759 | €14,775 | +€6,015 | +68.7% |
| Total equity and liabilities | 10/49 | €700,035 | €764,797 | +€64,762 | +9.3% |
| Equity | 10/15 | €526,962 | €611,079 | +€84,117 | +16.0% |
| Contributions | 10/11 | €6,355 | €6,355 | = | 0.0% |
| Reserves | 13 | €520,607 | €604,724 | +€84,117 | +16.2% |
| Distributable reserves | 133 | €520,607 | €604,724 | +€84,117 | +16.2% |
| Amounts payable | 17/49 | €173,074 | €153,718 | -€19,356 | -11.2% |
| Amounts payable after more than one year | 17 | €24,772 | €12,522 | -€12,250 | -49.5% |
| Financial debts | 170/4 | €24,772 | €12,522 | -€12,250 | -49.5% |
| Amounts payable within one year | 42/48 | €140,384 | €138,616 | -€1,768 | -1.3% |
| Current portion of amounts payable after more than one year | 42 | €12,898 | €12,250 | -€648 | -5.0% |
| Trade debts | 44 | - | €6,599 | +€6,599 | |
| Suppliers | 440/4 | - | €6,599 | +€6,599 | |
| Taxes, remuneration and social security | 45 | €89,580 | €119,767 | +€30,187 | +33.7% |
| Taxes | 450/3 | €61,375 | €66,690 | +€5,316 | +8.7% |
| Remuneration and social security | 454/9 | €28,205 | €53,077 | +€24,871 | +88.2% |
| Other amounts payable | 47/48 | €37,906 | - | -€37,906 | |
| Accrued charges and deferred income | 492/3 | €7,917 | €2,580 | -€5,337 | -67.4% |
| Remuneration, social security and pensions | 62 | €192,309 | €210,866 | +€18,557 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,587 | €14,743 | +€156 | +1.1% |
| Other operating charges | 640/8 | €6,427 | €5,841 | -€586 | -9.1% |
| Gross operating margin | 9900 | €375,716 | €347,440 | -€28,276 | -7.5% |
| Operating profit (loss) | 9901 | €162,394 | €115,991 | -€46,403 | -28.6% |
| Financial income | 75/76B | €1,266 | €12,138 | +€10,871 | +858.4% |
| Recurring financial income | 75 | €1,266 | €12,138 | +€10,871 | +858.4% |
| Financial charges | 65/66B | €4,913 | €6,712 | +€1,799 | +36.6% |
| Recurring financial charges | 65 | €4,913 | €6,712 | +€1,799 | +36.6% |
| Profit (loss) for the period before taxes | 9903 | €158,747 | €121,416 | -€37,331 | -23.5% |
| Income taxes | 67/77 | €60,291 | €37,299 | -€22,993 | -38.1% |
| Profit (loss) for the period | 9904 | €98,456 | €84,117 | -€14,338 | -14.6% |
| Profit (loss) for the period to be appropriated | 9905 | €98,456 | €84,117 | -€14,338 | -14.6% |
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 10 October 2026 via checked.be.