Letho Graphix: 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.
Letho Graphix
Largest movements
- Cash +€17,111
up €17,111 (+44.6%), from €38,404 to €55,515
mainly Net result for the year (+€12,071) and Trade debts (+€6,287)
- Receivables within one year +€2,737
up €2,737 (+19.0%), from €14,420 to €17,158
of which Other amounts receivable: +€5,307
- Deferred charges and accrued income -€1,803
down €1,803 (-24.4%), from €7,375 to €5,572
- Tangible fixed assets +€1,021
up €1,021 (+23.0%), from €4,441 to €5,463
of which Plant, machinery and equipment: +€1,725
- Reserves +€12,050
up €12,050 (+22.2%), from €54,300 to €66,350
- Trade debts +€6,287
up €6,287 (+8051.6%), from €78 to €6,365
- Gross operating margin -€2,534
down €2,534 (-10.3%), from €24,554 to €22,019
- Depreciation +€762
up €762 (+38.3%), from €1,992 to €2,754
- Taxes -€737
down €737 (-9.6%), from €7,704 to €6,967
- Staff costs -€385
no longer reported in 2025 (was €385)
- Financial income -€356
down €356 (-16.2%), from €2,195 to €1,838
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 | €64,910 | €83,761 | +€18,851 | +29.0% |
| Formation expenses | 20 | €270 | €53 | -€216 | -80.2% |
| Fixed assets | 21/28 | €4,441 | €5,463 | +€1,021 | +23.0% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €4,441 | €5,463 | +€1,021 | +23.0% |
| Land and buildings | 22 | €467 | €202 | -€265 | -56.8% |
| Plant, machinery and equipment | 23 | €2,247 | €3,972 | +€1,725 | +76.8% |
| Furniture and vehicles | 24 | €907 | €677 | -€230 | -25.4% |
| Other tangible fixed assets | 26 | €820 | €612 | -€209 | -25.4% |
| Current assets | 29/58 | €60,199 | €78,245 | +€18,046 | +30.0% |
| Amounts receivable within one year | 40/41 | €14,420 | €17,158 | +€2,737 | +19.0% |
| Trade receivables | 40 | €7,319 | €4,749 | -€2,570 | -35.1% |
| Other amounts receivable | 41 | €7,102 | €12,409 | +€5,307 | +74.7% |
| Cash at bank and in hand | 54/58 | €38,404 | €55,515 | +€17,111 | +44.6% |
| Deferred charges and accrued income | 490/1 | €7,375 | €5,572 | -€1,803 | -24.4% |
| Total equity and liabilities | 10/49 | €64,910 | €83,761 | +€18,851 | +29.0% |
| Equity | 10/15 | €59,393 | €71,465 | +€12,071 | +20.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €54,300 | €66,350 | +€12,050 | +22.2% |
| Distributable reserves | 133 | €54,300 | €66,350 | +€12,050 | +22.2% |
| Profit (loss) carried forward | 14 | €93 | €115 | +€21 | +22.8% |
| Amounts payable | 17/49 | €5,517 | €12,296 | +€6,780 | +122.9% |
| Amounts payable within one year | 42/48 | €5,517 | €12,296 | +€6,780 | +122.9% |
| Financial debts | 43 | - | €645 | +€645 | |
| Credit institutions | 430/8 | - | €645 | +€645 | |
| Trade debts | 44 | €78 | €6,365 | +€6,287 | +8051.6% |
| Suppliers | 440/4 | €78 | €6,365 | +€6,287 | +8051.6% |
| Taxes, remuneration and social security | 45 | €5,438 | €5,286 | -€153 | -2.8% |
| Taxes | 450/3 | €5,438 | €5,286 | -€153 | -2.8% |
| Remuneration, social security and pensions | 62 | €385 | - | -€385 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,992 | €2,754 | +€762 | +38.3% |
| Other operating charges | 640/8 | €1,312 | €1,220 | -€92 | -7.0% |
| Gross operating margin | 9900 | €24,554 | €22,019 | -€2,534 | -10.3% |
| Operating profit (loss) | 9901 | €20,865 | €18,046 | -€2,820 | -13.5% |
| Financial income | 75/76B | €2,195 | €1,838 | -€356 | -16.2% |
| Recurring financial income | 75 | €2,195 | €1,838 | -€356 | -16.2% |
| Financial charges | 65/66B | €1,022 | €845 | -€176 | -17.3% |
| Recurring financial charges | 65 | €1,022 | €845 | -€176 | -17.3% |
| Profit (loss) for the period before taxes | 9903 | €22,038 | €19,039 | -€2,999 | -13.6% |
| Income taxes | 67/77 | €7,704 | €6,967 | -€737 | -9.6% |
| Profit (loss) for the period | 9904 | €14,334 | €12,071 | -€2,263 | -15.8% |
| Profit (loss) for the period to be appropriated | 9905 | €14,334 | €12,071 | -€2,263 | -15.8% |
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.