LETH: what changed
LETH
Largest movements
- Tangible fixed assets -€29,726
down €29,726 (-77.4%), from €38,420 to €8,694
of which Leasing and similar rights: -€27,856
- Receivables within one year +€6,189
up €6,189 (+68.2%), from €9,075 to €15,264
- Cash +€5,970
up €5,970 (+203%), from €2,946 to €8,916
mainly Investment in fixed assets (net) (+€26,637) and Trade debts (+€7,168)
- Debts after one year -€10,865
no longer reported in 2026 (was €10,865)
- Trade debts +€7,168
up €7,168 (+307%), from €2,335 to €9,503
- Profit (loss) carried forward -€5,372
new in 2026: -€5,372
- Other debts -€3,267
down €3,267 (-90.8%), from €3,596 to €329
- Current portion of long-term debt -€2,415
down €2,415 (-18.1%), from €13,310 to €10,895
- Gross operating margin -€21,269
down €21,269 (-95.0%), from €22,384 to €1,114
- Depreciation -€13,715
down €13,715 (-81.6%), from €16,804 to €3,090
- Taxes -€1,460
down €1,460 (-84.2%), from €1,734 to €274
- Financial charges +€984
up €984 (+67.5%), from €1,458 to €2,442
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €52,213 | €34,421 | -€17,792 | -34.1% |
| Fixed assets | 21/28 | €38,420 | €8,694 | -€29,726 | -77.4% |
| Tangible fixed assets | 22/27 | €38,420 | €8,694 | -€29,726 | -77.4% |
| Plant, machinery and equipment | 23 | €4,744 | €4,311 | -€433 | -9.1% |
| Furniture and vehicles | 24 | €5,820 | €4,382 | -€1,438 | -24.7% |
| Leasing and similar rights | 25 | €27,856 | - | -€27,856 | |
| Current assets | 29/58 | €13,793 | €25,727 | +€11,934 | +86.5% |
| Amounts receivable within one year | 40/41 | €9,075 | €15,264 | +€6,189 | +68.2% |
| Trade receivables | 40 | €9,075 | €15,264 | +€6,189 | +68.2% |
| Cash at bank and in hand | 54/58 | €2,946 | €8,916 | +€5,970 | +203% |
| Deferred charges and accrued income | 490/1 | €1,772 | €1,547 | -€224 | -12.7% |
| Total equity and liabilities | 10/49 | €52,213 | €34,421 | -€17,792 | -34.1% |
| Equity | 10/15 | €11,185 | €5,814 | -€5,372 | -48.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €8,185 | €8,185 | = | 0.0% |
| Distributable reserves | 133 | €8,185 | €8,185 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€5,372 | -€5,372 | |
| Amounts payable | 17/49 | €41,027 | €28,607 | -€12,420 | -30.3% |
| Amounts payable after more than one year | 17 | €10,865 | - | -€10,865 | |
| Financial debts | 170/4 | €10,865 | - | -€10,865 | |
| Amounts payable within one year | 42/48 | €26,735 | €26,306 | -€430 | -1.6% |
| Current portion of amounts payable after more than one year | 42 | €13,310 | €10,895 | -€2,415 | -18.1% |
| Trade debts | 44 | €2,335 | €9,503 | +€7,168 | +307% |
| Suppliers | 440/4 | €2,335 | €9,503 | +€7,168 | +307% |
| Taxes, remuneration and social security | 45 | €7,493 | €5,578 | -€1,916 | -25.6% |
| Taxes | 450/3 | €5,428 | €3,159 | -€2,268 | -41.8% |
| Remuneration and social security | 454/9 | €2,066 | €2,418 | +€353 | +17.1% |
| Other amounts payable | 47/48 | €3,596 | €329 | -€3,267 | -90.8% |
| Accrued charges and deferred income | 492/3 | €3,427 | €2,301 | -€1,125 | -32.8% |
| Non-recurring operating income | 76A | - | €3,632 | +€3,632 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,804 | €3,090 | -€13,715 | -81.6% |
| Other operating charges | 640/8 | €609 | €680 | +€71 | +11.7% |
| Gross operating margin | 9900 | €22,384 | €1,114 | -€21,269 | -95.0% |
| Operating profit (loss) | 9901 | €4,971 | -€2,655 | -€7,626 | |
| Financial charges | 65/66B | €1,458 | €2,442 | +€984 | +67.5% |
| Recurring financial charges | 65 | €1,458 | €2,442 | +€984 | +67.5% |
| Profit (loss) for the period before taxes | 9903 | €3,513 | -€5,097 | -€8,610 | |
| Income taxes | 67/77 | €1,734 | €274 | -€1,460 | -84.2% |
| Profit (loss) for the period | 9904 | €1,779 | -€5,372 | -€7,151 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,779 | -€5,372 | -€7,151 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.