BUREAU O. LIMAN: 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.
BUREAU O. LIMAN
Largest movements
- Receivables within one year +€219,076
up €219,076 (+33.4%), from €656,374 to €875,450
of which Other amounts receivable: +€272,102
- Cash -€197,608
down €197,608 (-38.5%), from €513,195 to €315,587
mainly Receivables within one year (-€219,076) and Investment in fixed assets (net) (-€42,545)
- Intangible fixed assets -€103,328
down €103,328 (-13.3%), from €777,935 to €674,606
- Tax, wage and social debts -€32,925
down €32,925 (-35.2%), from €93,610 to €60,685
of which Remuneration and social security: -€28,845
- Debts after one year -€30,913
down €30,913 (-14.3%), from €215,959 to €185,046
- Trade debts -€25,512
down €25,512 (-13.9%), from €183,994 to €158,482
- Gross operating margin -€230,958
down €230,958 (-40.6%), from €569,235 to €338,278
- Taxes -€65,171
down €65,171 (-91.1%), from €71,545 to €6,374
- Staff costs +€44,950
up €44,950 (+41.3%), from €108,841 to €153,791
- Depreciation -€17,581
down €17,581 (-10.1%), from €174,186 to €156,605
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 | €2,044,047 | €1,951,455 | -€92,592 | -4.5% |
| Fixed assets | 21/28 | €874,478 | €760,418 | -€114,060 | -13.0% |
| Intangible fixed assets | 21 | €777,935 | €674,606 | -€103,328 | -13.3% |
| Tangible fixed assets | 22/27 | €96,043 | €85,312 | -€10,731 | -11.2% |
| Land and buildings | 22 | €12,218 | €8,145 | -€4,073 | -33.3% |
| Furniture and vehicles | 24 | €17,032 | €43,011 | +€25,979 | +153% |
| Other tangible fixed assets | 26 | €66,793 | €34,155 | -€32,638 | -48.9% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €1,169,569 | €1,191,037 | +€21,468 | +1.8% |
| Amounts receivable within one year | 40/41 | €656,374 | €875,450 | +€219,076 | +33.4% |
| Trade receivables | 40 | €93,826 | €40,800 | -€53,026 | -56.5% |
| Other amounts receivable | 41 | €562,548 | €834,650 | +€272,102 | +48.4% |
| Cash at bank and in hand | 54/58 | €513,195 | €315,587 | -€197,608 | -38.5% |
| Total equity and liabilities | 10/49 | €2,044,047 | €1,951,455 | -€92,592 | -4.5% |
| Equity | 10/15 | €1,503,210 | €1,506,952 | +€3,743 | +0.2% |
| Contributions | 10/11 | €64,398 | €64,452 | +€54 | +0.1% |
| Capital | 10 | €64,398 | €64,452 | +€54 | +0.1% |
| Issued capital | 100 | €64,398 | €64,452 | +€54 | +0.1% |
| Reserves | 13 | €543,945 | €543,945 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,445 | €6,445 | = | 0.0% |
| Legal reserve | 130 | €6,445 | €6,445 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €500,000 | €500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €894,866 | €898,555 | +€3,689 | +0.4% |
| Amounts payable | 17/49 | €540,837 | €444,503 | -€96,334 | -17.8% |
| Amounts payable after more than one year | 17 | €215,959 | €185,046 | -€30,913 | -14.3% |
| Financial debts | 170/4 | €215,959 | €185,046 | -€30,913 | -14.3% |
| Amounts payable within one year | 42/48 | €324,878 | €259,457 | -€65,421 | -20.1% |
| Current portion of amounts payable after more than one year | 42 | €41,680 | €39,256 | -€2,424 | -5.8% |
| Financial debts | 43 | €5,594 | €963 | -€4,631 | -82.8% |
| Credit institutions | 430/8 | €5,594 | €963 | -€4,631 | -82.8% |
| Trade debts | 44 | €183,994 | €158,482 | -€25,512 | -13.9% |
| Suppliers | 440/4 | €183,994 | €158,482 | -€25,512 | -13.9% |
| Taxes, remuneration and social security | 45 | €93,610 | €60,685 | -€32,925 | -35.2% |
| Taxes | 450/3 | €43,076 | €38,997 | -€4,079 | -9.5% |
| Remuneration and social security | 454/9 | €50,534 | €21,688 | -€28,845 | -57.1% |
| Other amounts payable | 47/48 | - | €71 | +€71 | |
| Remuneration, social security and pensions | 62 | €108,841 | €153,791 | +€44,950 | +41.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €174,186 | €156,605 | -€17,581 | -10.1% |
| Other operating charges | 640/8 | €8,205 | €10,077 | +€1,872 | +22.8% |
| Gross operating margin | 9900 | €569,235 | €338,278 | -€230,958 | -40.6% |
| Operating profit (loss) | 9901 | €278,004 | €17,804 | -€260,199 | -93.6% |
| Financial income | 75/76B | €15 | €29 | +€13 | +88.6% |
| Recurring financial income | 75 | €15 | €29 | +€13 | +88.6% |
| Financial charges | 65/66B | €8,098 | €7,770 | -€328 | -4.0% |
| Recurring financial charges | 65 | €8,098 | €7,770 | -€328 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €269,921 | €10,062 | -€259,858 | -96.3% |
| Income taxes | 67/77 | €71,545 | €6,374 | -€65,171 | -91.1% |
| Profit (loss) for the period | 9904 | €198,376 | €3,689 | -€194,687 | -98.1% |
| Profit (loss) for the period to be appropriated | 9905 | €198,376 | €3,689 | -€194,687 | -98.1% |
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 26 October 2026 via checked.be.