VAN LAETHEM: 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.
VAN LAETHEM
Largest movements
- Cash +€52,084
up €52,084 (+130%), from €40,200 to €92,283
mainly Other debts (+€45,593) and Depreciation (+€18,375)
- Tangible fixed assets -€18,375
down €18,375 (-35.6%), from €51,595 to €33,220
of which Furniture and vehicles: -€9,330
- Receivables within one year -€17,769
down €17,769 (-51.5%), from €34,514 to €16,746
of which Trade receivables: -€10,073
- Current investments +€8,312
up €8,312 (+8.4%), from €98,472 to €106,784
- Other debts +€45,593
up €45,593 (+239,587%), from €19 to €45,612
- Reserves -€36,639
down €36,639 (-16.7%), from €219,444 to €182,805
of which Distributable reserves: -€36,639
- Trade debts +€13,500
up €13,500 (+93.5%), from €14,439 to €27,939
- Gross operating margin -€48,945
down €48,945 (-58.1%), from €84,236 to €35,291
- Taxes -€5,748
down €5,748 (-51.2%), from €11,229 to €5,481
- Depreciation -€3,949
down €3,949 (-17.7%), from €22,324 to €18,375
- Financial income +€862
up €862 (+193%), from €447 to €1,309
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 | €256,544 | €279,838 | +€23,294 | +9.1% |
| Fixed assets | 21/28 | €51,670 | €33,220 | -€18,449 | -35.7% |
| Tangible fixed assets | 22/27 | €51,595 | €33,220 | -€18,375 | -35.6% |
| Land and buildings | 22 | €24,199 | €19,856 | -€4,343 | -17.9% |
| Plant, machinery and equipment | 23 | €13,066 | €8,364 | -€4,702 | -36.0% |
| Furniture and vehicles | 24 | €14,330 | €5,000 | -€9,330 | -65.1% |
| Financial fixed assets | 28 | €74 | €0 | -€74 | -100% |
| Current assets | 29/58 | €204,874 | €246,617 | +€41,744 | +20.4% |
| Stocks and contracts in progress | 3 | €30,221 | €29,415 | -€806 | -2.7% |
| Stocks | 30/36 | €30,221 | €29,415 | -€806 | -2.7% |
| Amounts receivable within one year | 40/41 | €34,514 | €16,746 | -€17,769 | -51.5% |
| Trade receivables | 40 | €26,818 | €16,746 | -€10,073 | -37.6% |
| Other amounts receivable | 41 | €7,696 | €0 | -€7,696 | -100% |
| Current investments | 50/53 | €98,472 | €106,784 | +€8,312 | +8.4% |
| Cash at bank and in hand | 54/58 | €40,200 | €92,283 | +€52,084 | +130% |
| Deferred charges and accrued income | 490/1 | €1,466 | €1,389 | -€77 | -5.3% |
| Total equity and liabilities | 10/49 | €256,544 | €279,838 | +€23,294 | +9.1% |
| Equity | 10/15 | €225,644 | €189,005 | -€36,639 | -16.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €219,444 | €182,805 | -€36,639 | -16.7% |
| Tax-exempt reserves | 132 | €955 | €955 | = | 0.0% |
| Distributable reserves | 133 | €218,489 | €181,850 | -€36,639 | -16.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €30,899 | €90,832 | +€59,933 | +194% |
| Amounts payable within one year | 42/48 | €30,899 | €90,832 | +€59,933 | +194% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | - | €105 | +€105 | |
| Credit institutions | 430/8 | - | €105 | +€105 | |
| Trade debts | 44 | €14,439 | €27,939 | +€13,500 | +93.5% |
| Suppliers | 440/4 | €14,439 | €27,939 | +€13,500 | +93.5% |
| Advances received on contracts in progress | 46 | €400 | €0 | -€400 | -100% |
| Taxes, remuneration and social security | 45 | €16,041 | €17,175 | +€1,134 | +7.1% |
| Taxes | 450/3 | €16,041 | €17,175 | +€1,134 | +7.1% |
| Other amounts payable | 47/48 | €19 | €45,612 | +€45,593 | +239,587% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,324 | €18,375 | -€3,949 | -17.7% |
| Other operating charges | 640/8 | €564 | €353 | -€211 | -37.5% |
| Non-recurring operating charges | 66A | €21,493 | €0 | -€21,493 | -100% |
| Gross operating margin | 9900 | €84,236 | €35,291 | -€48,945 | -58.1% |
| Operating profit (loss) | 9901 | €39,855 | €16,564 | -€23,291 | -58.4% |
| Financial income | 75/76B | €447 | €1,309 | +€862 | +193% |
| Recurring financial income | 75 | €447 | €1,309 | +€862 | +193% |
| Financial charges | 65/66B | €403 | €955 | +€551 | +137% |
| Recurring financial charges | 65 | €403 | €955 | +€551 | +137% |
| Profit (loss) for the period before taxes | 9903 | €39,898 | €16,918 | -€22,981 | -57.6% |
| Income taxes | 67/77 | €11,229 | €5,481 | -€5,748 | -51.2% |
| Profit (loss) for the period | 9904 | €28,669 | €11,437 | -€17,232 | -60.1% |
| Profit (loss) for the period to be appropriated | 9905 | €28,669 | €11,437 | -€17,232 | -60.1% |
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 13 October 2026 via checked.be.