Tom Latet: 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.
Tom Latet
Largest movements
- Receivables within one year +€43,542
up €43,542 (+440%), from €9,900 to €53,442
of which Trade receivables: +€33,708
- Cash -€8,647
down €8,647 (-7.7%), from €112,481 to €103,834
mainly Contributions, distributions and other (-€60,000) and Receivables within one year (-€43,542)
- Tangible fixed assets +€2,862
up €2,862 (+7.7%), from €37,012 to €39,874
of which Land and buildings: +€3,086
- Deferred charges and accrued income -€2,460
down €2,460 (-65.8%), from €3,739 to €1,279
- Other debts +€58,713
up €58,713 (+913%), from €6,430 to €65,144
- Reserves -€50,778
down €50,778 (-46.3%), from €109,586 to €58,809
- Debts after one year +€17,702
up €17,702 (+132%), from €13,365 to €31,067
- Tax, wage and social debts +€7,675
up €7,675 (+89.8%), from €8,548 to €16,222
- Current portion of long-term debt +€3,957
up €3,957 (+50.2%), from €7,883 to €11,841
- Gross operating margin -€13,566
down €13,566 (-26.1%), from €52,054 to €38,488
- Taxes -€5,621
down €5,621 (-64.1%), from €8,766 to €3,145
- Other operating charges +€4,818
up €4,818 (+572%), from €842 to €5,661
- Depreciation -€4,772
down €4,772 (-97.4%), from €4,898 to €126
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.
Derived cash bridge
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 | €163,131 | €198,429 | +€35,297 | +21.6% |
| Fixed assets | 21/28 | €37,012 | €39,874 | +€2,862 | +7.7% |
| Tangible fixed assets | 22/27 | €37,012 | €39,874 | +€2,862 | +7.7% |
| Land and buildings | 22 | €36,788 | €39,874 | +€3,086 | +8.4% |
| Furniture and vehicles | 24 | €224 | €0 | -€224 | -100% |
| Current assets | 29/58 | €126,120 | €158,555 | +€32,435 | +25.7% |
| Amounts receivable within one year | 40/41 | €9,900 | €53,442 | +€43,542 | +440% |
| Trade receivables | 40 | €9,900 | €43,608 | +€33,708 | +340% |
| Other amounts receivable | 41 | - | €9,834 | +€9,834 | |
| Cash at bank and in hand | 54/58 | €112,481 | €103,834 | -€8,647 | -7.7% |
| Deferred charges and accrued income | 490/1 | €3,739 | €1,279 | -€2,460 | -65.8% |
| Total equity and liabilities | 10/49 | €163,131 | €198,429 | +€35,297 | +21.6% |
| Equity | 10/15 | €117,586 | €66,809 | -€50,778 | -43.2% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €109,586 | €58,809 | -€50,778 | -46.3% |
| Distributable reserves | 133 | €109,586 | €58,809 | -€50,778 | -46.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €45,545 | €131,620 | +€86,075 | +189% |
| Amounts payable after more than one year | 17 | €13,365 | €31,067 | +€17,702 | +132% |
| Financial debts | 170/4 | €13,365 | €31,067 | +€17,702 | +132% |
| Amounts payable within one year | 42/48 | €32,179 | €100,553 | +€68,374 | +212% |
| Current portion of amounts payable after more than one year | 42 | €7,883 | €11,841 | +€3,957 | +50.2% |
| Financial debts | 43 | €2,705 | €2,692 | -€13 | -0.5% |
| Credit institutions | 430/8 | €2,705 | €2,692 | -€13 | -0.5% |
| Trade debts | 44 | €6,613 | €4,654 | -€1,958 | -29.6% |
| Suppliers | 440/4 | €6,613 | €4,654 | -€1,958 | -29.6% |
| Taxes, remuneration and social security | 45 | €8,548 | €16,222 | +€7,675 | +89.8% |
| Taxes | 450/3 | €8,548 | €16,222 | +€7,675 | +89.8% |
| Other amounts payable | 47/48 | €6,430 | €65,144 | +€58,713 | +913% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,898 | €126 | -€4,772 | -97.4% |
| Other operating charges | 640/8 | €842 | €5,661 | +€4,818 | +572% |
| Non-recurring operating charges | 66A | - | €17,362 | +€17,362 | |
| Gross operating margin | 9900 | €52,054 | €38,488 | -€13,566 | -26.1% |
| Operating profit (loss) | 9901 | €46,313 | €15,339 | -€30,974 | -66.9% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €3,273 | €2,972 | -€301 | -9.2% |
| Recurring financial charges | 65 | €3,273 | €2,972 | -€301 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €43,041 | €12,367 | -€30,674 | -71.3% |
| Income taxes | 67/77 | €8,766 | €3,145 | -€5,621 | -64.1% |
| Profit (loss) for the period | 9904 | €34,275 | €9,222 | -€25,053 | -73.1% |
| Profit (loss) for the period to be appropriated | 9905 | €34,275 | €9,222 | -€25,053 | -73.1% |
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 17 October 2026 via checked.be.