LTHI: 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.
LTHI
Largest movements
- Receivables within one year +€51,391
up €51,391 (+100.3%), from €51,225 to €102,616
of which Trade receivables: +€36,922
- Cash +€18,106
up €18,106 (+913.7%), from €1,982 to €20,088
mainly Net result for the year (+€63,153) and Depreciation (+€25,617)
- Tangible fixed assets -€17,890
down €17,890 (-16.6%), from €107,816 to €89,926
of which Other tangible fixed assets: -€15,440
- Reserves +€63,153
up €63,153 (+30.9%), from €204,644 to €267,798
- Trade debts -€31,304
down €31,304 (-21.0%), from €149,205 to €117,901
- Short-term financial debts +€13,438
new in 2025: €13,438
- Tax, wage and social debts +€13,062
up €13,062 (+21.6%), from €60,586 to €73,648
of which Remuneration and social security: +€12,518
- Current portion of long-term debt -€8,528
down €8,528 (-100.0%), from €8,528 to €0
- Staff costs +€65,379
up €65,379 (+33.4%), from €195,483 to €260,862
- Gross operating margin +€61,216
up €61,216 (+18.5%), from €330,861 to €392,077
- Taxes +€12,577
up €12,577 (+116.7%), from €10,780 to €23,357
- Financial charges +€6,386
up €6,386 (+55.5%), from €11,504 to €17,889
- Depreciation +€5,903
up €5,903 (+29.9%), from €19,713 to €25,617
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 | €630,336 | €676,437 | +€46,102 | +7.3% |
| Fixed assets | 21/28 | €148,534 | €127,305 | -€21,230 | -14.3% |
| Intangible fixed assets | 21 | €6,136 | €6,665 | +€530 | +8.6% |
| Tangible fixed assets | 22/27 | €107,816 | €89,926 | -€17,890 | -16.6% |
| Plant, machinery and equipment | 23 | €8,538 | €8,485 | -€53 | -0.6% |
| Furniture and vehicles | 24 | €3,007 | €611 | -€2,397 | -79.7% |
| Other tangible fixed assets | 26 | €96,270 | €80,831 | -€15,440 | -16.0% |
| Financial fixed assets | 28 | €34,583 | €30,713 | -€3,870 | -11.2% |
| Current assets | 29/58 | €481,801 | €549,133 | +€67,331 | +14.0% |
| Stocks and contracts in progress | 3 | €397,359 | €393,554 | -€3,806 | -1.0% |
| Stocks | 30/36 | €397,359 | €393,554 | -€3,806 | -1.0% |
| Amounts receivable within one year | 40/41 | €51,225 | €102,616 | +€51,391 | +100.3% |
| Trade receivables | 40 | €49,051 | €85,973 | +€36,922 | +75.3% |
| Other amounts receivable | 41 | €2,174 | €16,643 | +€14,469 | +665.4% |
| Cash at bank and in hand | 54/58 | €1,982 | €20,088 | +€18,106 | +913.7% |
| Deferred charges and accrued income | 490/1 | €31,235 | €32,875 | +€1,640 | +5.2% |
| Total equity and liabilities | 10/49 | €630,336 | €676,437 | +€46,102 | +7.3% |
| Equity | 10/15 | €354,644 | €417,798 | +€63,153 | +17.8% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €204,644 | €267,798 | +€63,153 | +30.9% |
| Distributable reserves | 133 | €204,644 | €267,798 | +€63,153 | +30.9% |
| Amounts payable | 17/49 | €275,691 | €258,639 | -€17,052 | -6.2% |
| Amounts payable after more than one year | 17 | €52,976 | €50,000 | -€2,976 | -5.6% |
| Financial debts | 170/4 | €52,976 | €50,000 | -€2,976 | -5.6% |
| Amounts payable within one year | 42/48 | €218,319 | €204,987 | -€13,332 | -6.1% |
| Current portion of amounts payable after more than one year | 42 | €8,528 | €0 | -€8,528 | -100.0% |
| Financial debts | 43 | - | €13,438 | +€13,438 | |
| Credit institutions | 430/8 | - | €13,438 | +€13,438 | |
| Trade debts | 44 | €149,205 | €117,901 | -€31,304 | -21.0% |
| Suppliers | 440/4 | €149,205 | €117,901 | -€31,304 | -21.0% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €60,586 | €73,648 | +€13,062 | +21.6% |
| Taxes | 450/3 | €20,251 | €20,795 | +€544 | +2.7% |
| Remuneration and social security | 454/9 | €40,335 | €52,852 | +€12,518 | +31.0% |
| Accrued charges and deferred income | 492/3 | €4,396 | €3,653 | -€744 | -16.9% |
| Non-recurring operating income | 76A | €26 | €36,691 | +€36,665 | +142444.4% |
| Remuneration, social security and pensions | 62 | €195,483 | €260,862 | +€65,379 | +33.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,713 | €25,617 | +€5,903 | +29.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€513 | €3,420 | +€3,934 | |
| Other operating charges | 640/8 | €1,938 | €3,055 | +€1,117 | +57.6% |
| Non-recurring operating charges | 66A | €16,533 | €0 | -€16,533 | -100.0% |
| Gross operating margin | 9900 | €330,861 | €392,077 | +€61,216 | +18.5% |
| Operating profit (loss) | 9901 | €97,707 | €99,124 | +€1,417 | +1.4% |
| Financial income | 75/76B | €140 | €5,276 | +€5,136 | +3661.7% |
| Recurring financial income | 75 | €140 | €5,276 | +€5,136 | +3661.7% |
| Financial charges | 65/66B | €11,504 | €17,889 | +€6,386 | +55.5% |
| Recurring financial charges | 65 | €11,504 | €17,889 | +€6,386 | +55.5% |
| Profit (loss) for the period before taxes | 9903 | €86,344 | €86,510 | +€166 | +0.2% |
| Income taxes | 67/77 | €10,780 | €23,357 | +€12,577 | +116.7% |
| Profit (loss) for the period | 9904 | €75,564 | €63,153 | -€12,410 | -16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €75,564 | €63,153 | -€12,410 | -16.4% |
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 5 October 2026 via checked.be.