It's not entirely that simple, there are plenty of little nuances. Plateaus and how you overcome them, eating enough so you don't screw up your metabolism and general health, and of course the hardest part which is the mental side of things.
It's entirely that simple. If you're eating less than you use it's basically impossible to plateau.
That's usually a matter of people thinking they still use as many calories as they did when they were, say, 30 lbs heavier, for instance. Adjust accordingly and it shouldn't be a problem.
I really don't want to muddle Minnesota's thread anymore so I'll just say that in theory yes you are correct.