Immo Lietaer: 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.
Immo Lietaer
Largest movements
- Receivables within one year +€21,321
up €21,321 (+11.0%), from €193,869 to €215,190
of which Trade receivables: +€24,545
- Tangible fixed assets -€15,644
down €15,644 (-39.8%), from €39,277 to €23,632
of which Furniture and vehicles: -€13,396
- Cash +€14,175
up €14,175 (+317%), from €4,474 to €18,648
mainly Net result for the year (+€59,462) and Depreciation (+€15,644)
- Reserves +€59,462
up €59,462 (+28.6%), from €207,626 to €267,087
of which Distributable reserves: +€59,462
- Trade debts -€34,769
down €34,769 (-42.8%), from €81,209 to €46,440
- Short-term financial debts -€4,683
down €4,683 (-19.0%), from €24,683 to €20,000
- Gross operating margin +€113,492
up €113,492 (+331%), from €34,301 to €147,793
- Taxes +€16,690
up €16,690, from -€1,668 to €15,022
- Staff costs +€11,835
up €11,835 (+31.1%), from €38,019 to €49,854
- Financial charges -€11,391
down €11,391 (-76.6%), from €14,872 to €3,481
- Financial income -€7,507
down €7,507 (-77.5%), from €9,687 to €2,180
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 | €387,620 | €409,367 | +€21,747 | +5.6% |
| Fixed assets | 21/28 | €39,277 | €23,632 | -€15,644 | -39.8% |
| Tangible fixed assets | 22/27 | €39,277 | €23,632 | -€15,644 | -39.8% |
| Plant, machinery and equipment | 23 | €656 | €0 | -€656 | -100% |
| Furniture and vehicles | 24 | €33,362 | €19,966 | -€13,396 | -40.2% |
| Other tangible fixed assets | 26 | €5,258 | €3,666 | -€1,592 | -30.3% |
| Current assets | 29/58 | €348,343 | €385,735 | +€37,392 | +10.7% |
| Amounts receivable after more than one year | 29 | €150,000 | €150,000 | = | 0.0% |
| Other amounts receivable | 291 | €150,000 | €150,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €193,869 | €215,190 | +€21,321 | +11.0% |
| Trade receivables | 40 | €56,066 | €80,611 | +€24,545 | +43.8% |
| Other amounts receivable | 41 | €137,803 | €134,579 | -€3,224 | -2.3% |
| Cash at bank and in hand | 54/58 | €4,474 | €18,648 | +€14,175 | +317% |
| Deferred charges and accrued income | 490/1 | €0 | €1,897 | +€1,897 | |
| Total equity and liabilities | 10/49 | €387,620 | €409,367 | +€21,747 | +5.6% |
| Equity | 10/15 | €269,126 | €328,587 | +€59,462 | +22.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €207,626 | €267,087 | +€59,462 | +28.6% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €201,476 | €260,937 | +€59,462 | +29.5% |
| Amounts payable | 17/49 | €118,494 | €80,779 | -€37,715 | -31.8% |
| Amounts payable within one year | 42/48 | €118,431 | €78,763 | -€39,668 | -33.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €24,683 | €20,000 | -€4,683 | -19.0% |
| Credit institutions | 430/8 | €24,683 | €20,000 | -€4,683 | -19.0% |
| Trade debts | 44 | €81,209 | €46,440 | -€34,769 | -42.8% |
| Suppliers | 440/4 | €81,209 | €46,440 | -€34,769 | -42.8% |
| Taxes, remuneration and social security | 45 | €12,119 | €11,903 | -€216 | -1.8% |
| Taxes | 450/3 | €9,327 | €1,286 | -€8,041 | -86.2% |
| Remuneration and social security | 454/9 | €2,792 | €10,617 | +€7,825 | +280% |
| Other amounts payable | 47/48 | €420 | €420 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €63 | €2,016 | +€1,954 | +3,126% |
| Non-recurring operating income | 76A | €13,139 | €0 | -€13,139 | -100% |
| Remuneration, social security and pensions | 62 | €38,019 | €49,854 | +€11,835 | +31.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,092 | €15,644 | +€3,553 | +29.4% |
| Other operating charges | 640/8 | €2,975 | €6,510 | +€3,535 | +119% |
| Non-recurring operating charges | 66A | €1,339 | €0 | -€1,339 | -100% |
| Gross operating margin | 9900 | €34,301 | €147,793 | +€113,492 | +331% |
| Operating profit (loss) | 9901 | -€20,123 | €75,785 | +€95,908 | |
| Financial income | 75/76B | €9,687 | €2,180 | -€7,507 | -77.5% |
| Recurring financial income | 75 | €9,687 | €2,180 | -€7,507 | -77.5% |
| Financial charges | 65/66B | €14,872 | €3,481 | -€11,391 | -76.6% |
| Recurring financial charges | 65 | €14,872 | €3,481 | -€11,391 | -76.6% |
| Profit (loss) for the period before taxes | 9903 | -€25,308 | €74,484 | +€99,792 | |
| Income taxes | 67/77 | -€1,668 | €15,022 | +€16,690 | |
| Profit (loss) for the period | 9904 | -€23,640 | €59,462 | +€83,102 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,640 | €59,462 | +€83,102 |
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 14 October 2026 via checked.be.