ETS LIBIOULLE: 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.
ETS LIBIOULLE
Largest movements
- Tangible fixed assets -€12,688
down €12,688 (-31.0%), from €40,983 to €28,295
of which Furniture and vehicles: -€8,400
- Cash -€9,395
down €9,395 (-9.0%), from €104,599 to €95,204
mainly Net result for the year (-€17,032) and Current portion of long-term debt (-€5,000)
- Stocks and contracts -€2,700
down €2,700 (-4.1%), from €65,300 to €62,600
- Profit (loss) carried forward -€14,782
down €14,782 (-14.6%), from €101,066 to €86,284
- Current portion of long-term debt -€5,000
no longer reported in 2025 (was €5,000)
- Gross operating margin -€42,130
down €42,130, from €38,059 to -€4,071
- Taxes -€9,626
no longer reported in 2025 (was €9,626)
- Depreciation +€1,773
up €1,773 (+16.2%), from €10,915 to €12,688
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 | €227,966 | €203,876 | -€24,090 | -10.6% |
| Fixed assets | 21/28 | €41,283 | €28,895 | -€12,388 | -30.0% |
| Tangible fixed assets | 22/27 | €40,983 | €28,295 | -€12,688 | -31.0% |
| Land and buildings | 22 | €14,700 | €12,113 | -€2,588 | -17.6% |
| Plant, machinery and equipment | 23 | €6,974 | €5,274 | -€1,700 | -24.4% |
| Furniture and vehicles | 24 | €19,308 | €10,908 | -€8,400 | -43.5% |
| Financial fixed assets | 28 | €300 | €600 | +€300 | +100% |
| Current assets | 29/58 | €186,683 | €174,980 | -€11,702 | -6.3% |
| Stocks and contracts in progress | 3 | €65,300 | €62,600 | -€2,700 | -4.1% |
| Stocks | 30/36 | €65,300 | €62,600 | -€2,700 | -4.1% |
| Amounts receivable within one year | 40/41 | €11,655 | €11,923 | +€268 | +2.3% |
| Trade receivables | 40 | €8,714 | €11,421 | +€2,706 | +31.1% |
| Other amounts receivable | 41 | €2,941 | €502 | -€2,439 | -82.9% |
| Cash at bank and in hand | 54/58 | €104,599 | €95,204 | -€9,395 | -9.0% |
| Deferred charges and accrued income | 490/1 | €5,128 | €5,253 | +€125 | +2.4% |
| Total equity and liabilities | 10/49 | €227,966 | €203,876 | -€24,090 | -10.6% |
| Equity | 10/15 | €171,612 | €154,580 | -€17,032 | -9.9% |
| Contributions | 10/11 | €15,811 | €15,811 | = | 0.0% |
| Contributions outside capital | 11 | €15,811 | €15,811 | = | 0.0% |
| Share premium | 1100/10 | €15,811 | €15,811 | = | 0.0% |
| Reserves | 13 | €54,735 | €52,485 | -€2,250 | -4.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,500 | €2,250 | -€2,250 | -50.0% |
| Distributable reserves | 133 | €48,375 | €48,375 | = | 0.0% |
| Profit (loss) carried forward | 14 | €101,066 | €86,284 | -€14,782 | -14.6% |
| Provisions and deferred taxes | 16 | €1,500 | €750 | -€750 | -50.0% |
| Deferred taxes | 168 | €1,500 | €750 | -€750 | -50.0% |
| Amounts payable | 17/49 | €54,854 | €48,545 | -€6,308 | -11.5% |
| Amounts payable within one year | 42/48 | €54,854 | €48,545 | -€6,308 | -11.5% |
| Current portion of amounts payable after more than one year | 42 | €5,000 | - | -€5,000 | |
| Trade debts | 44 | €9,640 | €7,997 | -€1,644 | -17.1% |
| Suppliers | 440/4 | €9,640 | €7,997 | -€1,644 | -17.1% |
| Taxes, remuneration and social security | 45 | €9,372 | €9,372 | = | 0.0% |
| Taxes | 450/3 | €9,372 | €9,372 | = | 0.0% |
| Other amounts payable | 47/48 | €30,842 | €31,177 | +€335 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,915 | €12,688 | +€1,773 | +16.2% |
| Other operating charges | 640/8 | €422 | €499 | +€78 | +18.4% |
| Gross operating margin | 9900 | €38,059 | -€4,071 | -€42,130 | |
| Operating profit (loss) | 9901 | €26,722 | -€17,259 | -€43,980 | |
| Financial income | 75/76B | €24 | €26 | +€2 | +9.1% |
| Recurring financial income | 75 | €24 | €26 | +€2 | +9.1% |
| Financial charges | 65/66B | €593 | €549 | -€44 | -7.4% |
| Recurring financial charges | 65 | €593 | €549 | -€44 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €26,152 | -€17,782 | -€43,934 | |
| Transfer from deferred taxes | 780 | €750 | €750 | = | 0.0% |
| Income taxes | 67/77 | €9,626 | - | -€9,626 | |
| Profit (loss) for the period | 9904 | €17,277 | -€17,032 | -€34,309 | |
| Transfer from tax-exempt reserves | 789 | €2,250 | €2,250 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,527 | -€14,782 | -€34,309 |
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 16 October 2026 via checked.be.