Alain LIBBRECHT: what changed
Two fiscal 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.
Alain LIBBRECHT
Largest movements
- Cash +€55,912
up €55,912 (+81.0%), from €69,067 to €124,980
mainly Receivables within one year (+€34,296) and Depreciation (+€29,353)
- Tangible fixed assets -€36,606
down €36,606 (-17.8%), from €205,595 to €168,989
of which Other tangible fixed assets: -€24,720
- Receivables within one year -€34,296
down €34,296 (-17.5%), from €196,417 to €162,121
of which Trade receivables: -€35,530
- Stocks and contracts +€8,925
up €8,925 (+23.4%), from €38,211 to €47,136
- Debts after one year -€21,316
down €21,316 (-22.2%), from €96,099 to €74,783
- Trade debts +€6,635
up €6,635 (+11.3%), from €58,775 to €65,410
- Other debts +€5,369
up €5,369 (+11.5%), from €46,698 to €52,067
- Gross operating margin -€41,792
down €41,792 (-28.4%), from €147,344 to €105,551
- Staff costs -€34,463
down €34,463 (-37.9%), from €91,000 to €56,538
- Write-downs -€8,111
down €8,111 (-94.5%), from €8,580 to €470
- Financial income -€1,534
down €1,534 (-91.3%), from €1,680 to €146
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €513,470 | €508,582 | -€4,888 | -1.0% |
| Fixed assets | 21/28 | €206,015 | €169,409 | -€36,606 | -17.8% |
| Tangible fixed assets | 22/27 | €205,595 | €168,989 | -€36,606 | -17.8% |
| Plant, machinery and equipment | 23 | €23,755 | €17,728 | -€6,027 | -25.4% |
| Furniture and vehicles | 24 | €8,187 | €2,328 | -€5,859 | -71.6% |
| Other tangible fixed assets | 26 | €173,653 | €148,933 | -€24,720 | -14.2% |
| Financial fixed assets | 28 | €420 | €420 | = | 0.0% |
| Current assets | 29/58 | €307,455 | €339,173 | +€31,718 | +10.3% |
| Stocks and contracts in progress | 3 | €38,211 | €47,136 | +€8,925 | +23.4% |
| Stocks | 30/36 | €38,211 | €47,136 | +€8,925 | +23.4% |
| Amounts receivable within one year | 40/41 | €196,417 | €162,121 | -€34,296 | -17.5% |
| Trade receivables | 40 | €164,001 | €128,471 | -€35,530 | -21.7% |
| Other amounts receivable | 41 | €32,417 | €33,650 | +€1,234 | +3.8% |
| Cash at bank and in hand | 54/58 | €69,067 | €124,980 | +€55,912 | +81.0% |
| Deferred charges and accrued income | 490/1 | €3,759 | €4,936 | +€1,177 | +31.3% |
| Total equity and liabilities | 10/49 | €513,470 | €508,582 | -€4,888 | -1.0% |
| Equity | 10/15 | €281,833 | €285,890 | +€4,057 | +1.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €263,233 | €267,290 | +€4,057 | +1.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €261,373 | €265,430 | +€4,057 | +1.6% |
| Amounts payable | 17/49 | €231,637 | €222,692 | -€8,945 | -3.9% |
| Amounts payable after more than one year | 17 | €96,099 | €74,783 | -€21,316 | -22.2% |
| Financial debts | 170/4 | €96,099 | €74,783 | -€21,316 | -22.2% |
| Amounts payable within one year | 42/48 | €135,538 | €147,909 | +€12,371 | +9.1% |
| Current portion of amounts payable after more than one year | 42 | €21,063 | €21,316 | +€253 | +1.2% |
| Trade debts | 44 | €58,775 | €65,410 | +€6,635 | +11.3% |
| Suppliers | 440/4 | €58,775 | €65,410 | +€6,635 | +11.3% |
| Taxes, remuneration and social security | 45 | €9,003 | €9,117 | +€114 | +1.3% |
| Taxes | 450/3 | €6,182 | €5,302 | -€879 | -14.2% |
| Remuneration and social security | 454/9 | €2,821 | €3,814 | +€993 | +35.2% |
| Other amounts payable | 47/48 | €46,698 | €52,067 | +€5,369 | +11.5% |
| Non-recurring operating income | 76A | €1,000 | €1,379 | +€379 | +37.9% |
| Remuneration, social security and pensions | 62 | €91,000 | €56,538 | -€34,463 | -37.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,511 | €29,353 | -€1,158 | -3.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,580 | €470 | -€8,111 | -94.5% |
| Other operating charges | 640/8 | €4,499 | €4,720 | +€222 | +4.9% |
| Non-recurring operating charges | 66A | €2,439 | €2,035 | -€403 | -16.5% |
| Gross operating margin | 9900 | €147,344 | €105,551 | -€41,792 | -28.4% |
| Operating profit (loss) | 9901 | €10,314 | €12,435 | +€2,121 | +20.6% |
| Financial income | 75/76B | €1,680 | €146 | -€1,534 | -91.3% |
| Recurring financial income | 75 | €1,680 | €146 | -€1,534 | -91.3% |
| Financial charges | 65/66B | €5,267 | €5,835 | +€568 | +10.8% |
| Recurring financial charges | 65 | €5,267 | €5,835 | +€568 | +10.8% |
| Profit (loss) for the period before taxes | 9903 | €6,728 | €6,746 | +€18 | +0.3% |
| Income taxes | 67/77 | €1,941 | €2,689 | +€747 | +38.5% |
| Profit (loss) for the period | 9904 | €4,787 | €4,057 | -€729 | -15.2% |
| Profit (loss) for the period to be appropriated | 9905 | €4,787 | €4,057 | -€729 | -15.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.