LETRA: what changed
Two fiscal 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.
LETRA
Largest movements
- Cash -€16,361
no longer reported in 2025 (was €16,361)
mainly Net result for the year (-€12,101) and Current investments (-€8,983)
- Current investments +€8,983
new in 2025: €8,983
- Tangible fixed assets -€4,570
down €4,570 (-26.6%), from €17,194 to €12,624
of which Leasing and similar rights: -€2,543
- Profit (loss) carried forward -€12,101
down €12,101 (-39.2%), from -€30,830 to -€42,931
- Trade debts -€614
down €614 (-57.4%), from €1,071 to €457
- Gross operating margin -€4,030
down €4,030 (-119.2%), from -€3,381 to -€7,411
- Depreciation -€1,550
down €1,550 (-25.3%), from €6,121 to €4,571
- Other operating charges -€387
no longer reported in 2025 (was €387)
- Financial charges -€209
down €209 (-53.6%), from €390 to €181
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 | €38,898 | €26,599 | -€12,299 | -31.6% |
| Fixed assets | 21/28 | €18,194 | €13,624 | -€4,570 | -25.1% |
| Tangible fixed assets | 22/27 | €17,194 | €12,624 | -€4,570 | -26.6% |
| Plant, machinery and equipment | 23 | €4,054 | €2,184 | -€1,870 | -46.1% |
| Furniture and vehicles | 24 | - | €1,769 | +€1,769 | |
| Leasing and similar rights | 25 | €2,543 | - | -€2,543 | |
| Other tangible fixed assets | 26 | €10,597 | €8,671 | -€1,926 | -18.2% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €20,704 | €12,976 | -€7,728 | -37.3% |
| Amounts receivable within one year | 40/41 | €4,266 | €3,993 | -€273 | -6.4% |
| Trade receivables | 40 | €4,266 | €3,993 | -€273 | -6.4% |
| Current investments | 50/53 | - | €8,983 | +€8,983 | |
| Cash at bank and in hand | 54/58 | €16,361 | - | -€16,361 | |
| Deferred charges and accrued income | 490/1 | €77 | - | -€77 | |
| Total equity and liabilities | 10/49 | €38,898 | €26,599 | -€12,299 | -31.6% |
| Equity | 10/15 | €34,813 | €22,713 | -€12,100 | -34.8% |
| Contributions | 10/11 | €31,250 | €31,250 | = | 0.0% |
| Reserves | 13 | €34,393 | €34,393 | +€0 | 0.0% |
| Distributable reserves | 133 | €34,393 | €34,393 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€30,830 | -€42,931 | -€12,101 | -39.2% |
| Amounts payable | 17/49 | €4,085 | €3,887 | -€198 | -4.9% |
| Amounts payable within one year | 42/48 | €4,085 | €3,887 | -€198 | -4.9% |
| Trade debts | 44 | €1,071 | €457 | -€614 | -57.4% |
| Suppliers | 440/4 | €1,071 | €457 | -€614 | -57.4% |
| Taxes, remuneration and social security | 45 | €308 | €384 | +€76 | +24.8% |
| Taxes | 450/3 | €308 | €384 | +€76 | +24.8% |
| Other amounts payable | 47/48 | €2,706 | €3,046 | +€340 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,121 | €4,571 | -€1,550 | -25.3% |
| Other operating charges | 640/8 | €387 | - | -€387 | |
| Gross operating margin | 9900 | -€3,381 | -€7,411 | -€4,030 | -119.2% |
| Operating profit (loss) | 9901 | -€9,889 | -€11,981 | -€2,092 | -21.2% |
| Financial income | 75/76B | €103 | €88 | -€15 | -14.9% |
| Recurring financial income | 75 | €103 | €88 | -€15 | -14.9% |
| Financial charges | 65/66B | €390 | €181 | -€209 | -53.6% |
| Recurring financial charges | 65 | €390 | €181 | -€209 | -53.6% |
| Profit (loss) for the period before taxes | 9903 | -€10,176 | -€12,075 | -€1,899 | -18.7% |
| Income taxes | 67/77 | €31 | €26 | -€5 | -15.2% |
| Profit (loss) for the period | 9904 | -€10,207 | -€12,101 | -€1,894 | -18.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,207 | -€12,101 | -€1,894 | -18.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.