DAVE LIEKENS: 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.
DAVE LIEKENS
Largest movements
- Tangible fixed assets +€35,017
up €35,017 (+213%), from €16,452 to €51,469
of which Furniture and vehicles: +€36,910
- Cash -€26,942
down €26,942 (-44.1%), from €61,130 to €34,188
mainly Investment in fixed assets (net) (-€43,794) and Net result for the year (-€28,128)
- Receivables within one year +€3,728
up €3,728 (+89.0%), from €4,190 to €7,917
of which Trade receivables: +€5,241
- Reserves -€28,128
down €28,128 (-51.8%), from €54,252 to €26,124
- Debts after one year +€24,043
up €24,043 (+490%), from €4,909 to €28,952
- Current portion of long-term debt +€11,273
up €11,273 (+469%), from €2,404 to €13,677
- Trade debts +€3,986
up €3,986 (+126%), from €3,172 to €7,158
- Other debts +€2,248
up €2,248 (+25.9%), from €8,679 to €10,927
- Gross operating margin -€47,331
down €47,331, from €32,687 to -€14,644
- Depreciation +€8,239
up €8,239 (+1,477%), from €558 to €8,797
- Taxes -€5,590
down €5,590 (-76.2%), from €7,340 to €1,750
- Financial charges +€1,070
up €1,070 (+161%), from €663 to €1,733
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 | €82,046 | €94,038 | +€11,992 | +14.6% |
| Fixed assets | 21/28 | €16,492 | €51,489 | +€34,997 | +212% |
| Intangible fixed assets | 21 | €40 | €20 | -€20 | -49.9% |
| Tangible fixed assets | 22/27 | €16,452 | €51,469 | +€35,017 | +213% |
| Furniture and vehicles | 24 | €2,066 | €38,976 | +€36,910 | +1,786% |
| Other tangible fixed assets | 26 | €14,386 | €12,493 | -€1,893 | -13.2% |
| Current assets | 29/58 | €65,554 | €42,549 | -€23,005 | -35.1% |
| Stocks and contracts in progress | 3 | €235 | €235 | = | 0.0% |
| Stocks | 30/36 | €235 | €235 | = | 0.0% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €4,190 | €7,917 | +€3,728 | +89.0% |
| Trade receivables | 40 | €0 | €5,241 | +€5,241 | |
| Other amounts receivable | 41 | €4,190 | €2,676 | -€1,513 | -36.1% |
| Cash at bank and in hand | 54/58 | €61,130 | €34,188 | -€26,942 | -44.1% |
| Deferred charges and accrued income | 490/1 | - | €209 | +€209 | |
| Total equity and liabilities | 10/49 | €82,046 | €94,038 | +€11,992 | +14.6% |
| Equity | 10/15 | €56,752 | €28,624 | -€28,128 | -49.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €54,252 | €26,124 | -€28,128 | -51.8% |
| Distributable reserves | 133 | €54,252 | €26,124 | -€28,128 | -51.8% |
| Amounts payable | 17/49 | €25,294 | €65,414 | +€40,120 | +159% |
| Amounts payable after more than one year | 17 | €4,909 | €28,952 | +€24,043 | +490% |
| Financial debts | 170/4 | €4,909 | €28,952 | +€24,043 | +490% |
| Amounts payable within one year | 42/48 | €20,385 | €36,462 | +€16,077 | +78.9% |
| Current portion of amounts payable after more than one year | 42 | €2,404 | €13,677 | +€11,273 | +469% |
| Trade debts | 44 | €3,172 | €7,158 | +€3,986 | +126% |
| Suppliers | 440/4 | €3,172 | €7,158 | +€3,986 | +126% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €6,130 | €4,700 | -€1,430 | -23.3% |
| Taxes | 450/3 | €3,790 | €2,340 | -€1,450 | -38.3% |
| Remuneration and social security | 454/9 | €2,340 | €2,360 | +€20 | +0.9% |
| Other amounts payable | 47/48 | €8,679 | €10,927 | +€2,248 | +25.9% |
| Non-recurring operating income | 76A | - | €331 | +€331 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €558 | €8,797 | +€8,239 | +1,477% |
| Other operating charges | 640/8 | €1,498 | €1,207 | -€291 | -19.4% |
| Gross operating margin | 9900 | €32,687 | -€14,644 | -€47,331 | |
| Operating profit (loss) | 9901 | €30,631 | -€24,649 | -€55,280 | |
| Financial income | 75/76B | €22 | €3 | -€19 | -86.4% |
| Recurring financial income | 75 | €22 | €3 | -€19 | -86.4% |
| Financial charges | 65/66B | €663 | €1,733 | +€1,070 | +161% |
| Recurring financial charges | 65 | €663 | €1,733 | +€1,070 | +161% |
| Profit (loss) for the period before taxes | 9903 | €29,990 | -€26,378 | -€56,369 | |
| Income taxes | 67/77 | €7,340 | €1,750 | -€5,590 | -76.2% |
| Profit (loss) for the period | 9904 | €22,650 | -€28,128 | -€50,779 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,650 | -€28,128 | -€50,779 |
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 19 October 2026 via checked.be.