VANLAETHEM-OTS: 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.
VANLAETHEM-OTS
Largest movements
- Receivables within one year +€282,134
up €282,134 (+14.3%), from €2.0m to €2.3m
of which Trade receivables: +€319,700
- Tangible fixed assets -€131,668
down €131,668 (-8.1%), from €1.6m to €1.5m
- Cash -€90,002
down €90,002 (-84.7%), from €106,270 to €16,268
mainly Investment in fixed assets (net) (-€318,076) and Receivables within one year (-€282,134)
- Trade debts +€283,919
up €283,919 (+24.9%), from €1.1m to €1.4m
- Tax, wage and social debts -€253,696
down €253,696 (-56.6%), from €448,158 to €194,461
of which Remuneration and social security: -€255,940
- Profit (loss) carried forward +€120,026
up €120,026 (+16.3%), from -€735,027 to -€615,000
- Debts after one year -€56,586
down €56,586 (-5.0%), from €1.1m to €1.1m
- Gross operating margin +€194,345
up €194,345 (+7.4%), from €2.6m to €2.8m
- Depreciation +€98,752
up €98,752 (+27.9%), from €353,358 to €452,110
- Staff costs +€34,618
up €34,618 (+1.7%), from €2.1m to €2.1m
- Financial charges -€28,796
down €28,796 (-24.4%), from €117,976 to €89,180
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,345,294 | €4,393,818 | +€48,524 | +1.1% |
| Fixed assets | 21/28 | €1,690,406 | €1,556,373 | -€134,033 | -7.9% |
| Intangible fixed assets | 21 | €6,042 | €3,606 | -€2,437 | -40.3% |
| Tangible fixed assets | 22/27 | €1,627,793 | €1,496,125 | -€131,668 | -8.1% |
| Land and buildings | 22 | €17,714 | €17,714 | = | 0.0% |
| Plant, machinery and equipment | 23 | €167,045 | €140,361 | -€26,684 | -16.0% |
| Furniture and vehicles | 24 | €159,589 | €108,686 | -€50,904 | -31.9% |
| Leasing and similar rights | 25 | €1,283,445 | €1,229,364 | -€54,081 | -4.2% |
| Financial fixed assets | 28 | €56,571 | €56,643 | +€72 | +0.1% |
| Current assets | 29/58 | €2,654,888 | €2,837,445 | +€182,557 | +6.9% |
| Stocks and contracts in progress | 3 | €524,573 | €529,721 | +€5,149 | +1.0% |
| Stocks | 30/36 | €524,573 | €529,721 | +€5,149 | +1.0% |
| Amounts receivable within one year | 40/41 | €1,973,131 | €2,255,265 | +€282,134 | +14.3% |
| Trade receivables | 40 | €1,806,357 | €2,126,057 | +€319,700 | +17.7% |
| Other amounts receivable | 41 | €166,774 | €129,208 | -€37,566 | -22.5% |
| Current investments | 50/53 | €9 | €3,831 | +€3,822 | +43,086% |
| Cash at bank and in hand | 54/58 | €106,270 | €16,268 | -€90,002 | -84.7% |
| Deferred charges and accrued income | 490/1 | €50,905 | €32,360 | -€18,545 | -36.4% |
| Total equity and liabilities | 10/49 | €4,345,294 | €4,393,818 | +€48,524 | +1.1% |
| Equity | 10/15 | €524,398 | €644,424 | +€120,026 | +22.9% |
| Contributions | 10/11 | €562,000 | €562,000 | = | 0.0% |
| Contributions outside capital | 11 | €562,000 | €562,000 | = | 0.0% |
| Other | 1109/19 | €562,000 | €562,000 | = | 0.0% |
| Reserves | 13 | €697,424 | €697,424 | = | 0.0% |
| Tax-exempt reserves | 132 | €610,724 | €610,724 | = | 0.0% |
| Distributable reserves | 133 | €86,700 | €86,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€735,027 | -€615,000 | +€120,026 | +16.3% |
| Amounts payable | 17/49 | €3,820,896 | €3,749,394 | -€71,502 | -1.9% |
| Amounts payable after more than one year | 17 | €1,142,225 | €1,085,639 | -€56,586 | -5.0% |
| Financial debts | 170/4 | €1,142,225 | €1,085,639 | -€56,586 | -5.0% |
| Amounts payable within one year | 42/48 | €2,670,921 | €2,656,005 | -€14,916 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €387,228 | €372,776 | -€14,453 | -3.7% |
| Trade debts | 44 | €1,140,783 | €1,424,702 | +€283,919 | +24.9% |
| Suppliers | 440/4 | €1,140,783 | €1,424,702 | +€283,919 | +24.9% |
| Taxes, remuneration and social security | 45 | €448,158 | €194,461 | -€253,696 | -56.6% |
| Taxes | 450/3 | €184,524 | €186,768 | +€2,244 | +1.2% |
| Remuneration and social security | 454/9 | €263,633 | €7,693 | -€255,940 | -97.1% |
| Other amounts payable | 47/48 | €694,752 | €664,065 | -€30,686 | -4.4% |
| Accrued charges and deferred income | 492/3 | €7,750 | €7,750 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €2,089,452 | €2,124,070 | +€34,618 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €353,358 | €452,110 | +€98,752 | +27.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €41,069 | €40,162 | -€907 | -2.2% |
| Gross operating margin | 9900 | €2,632,302 | €2,826,647 | +€194,345 | +7.4% |
| Operating profit (loss) | 9901 | €148,423 | €210,306 | +€61,883 | +41.7% |
| Financial income | 75/76B | €26 | €998 | +€973 | +3,793% |
| Recurring financial income | 75 | €26 | €998 | +€973 | +3,793% |
| Financial charges | 65/66B | €117,976 | €89,180 | -€28,796 | -24.4% |
| Recurring financial charges | 65 | €117,976 | €89,180 | -€28,796 | -24.4% |
| Profit (loss) for the period before taxes | 9903 | €30,473 | €122,124 | +€91,651 | +301% |
| Income taxes | 67/77 | €12,154 | €2,098 | -€10,057 | -82.7% |
| Profit (loss) for the period | 9904 | €18,318 | €120,026 | +€101,708 | +555% |
| Profit (loss) for the period to be appropriated | 9905 | €18,318 | €120,026 | +€101,708 | +555% |
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 30 October 2026 via checked.be.