Sometimes if I see them getting tubbier I just go with it; other times I'll have them work it off if it doesn't seem to fit with the type of personality they have, or the mental image I have of how they are. For instance I had one sim who was a chubby toddler, chubby child and chubby teen; when she grew up to young adult I random rolled "active" as her last trait, and her aspiration is nerd brain so she needs to go to space. I put her in the astronaut career and it was just a natural progression for her to slim down with all the fitness points she needs for that career (plus she enjoys it). Other times I don't bother; I had an artistic, dreamy sim who just gained it all back every time she slimmed down so I stopped trying. It didn't bother her, so why should it bother me? I rarely do anything as drastic as use a potion or change them in CAS, but sometimes the game takes them to a body type I just don't think they would have, on both the light and heavy side, when I'm not playing them.
I had one guy who aged up to an adult at a party thrown at his brother's house, and when I got back to his house he had not exactly gotten fat, but had developed a total dad bod. It was hilarious and suited him so I just left it.