Jérôme Libioul: 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.
Jérôme Libioul
Largest movements
- Current investments -€325,000
down €325,000 (-100%), from €325,000 to €0
- Tangible fixed assets +€212,711
up €212,711 (+792%), from €26,873 to €239,584
of which Land and buildings: +€224,806
- Cash -€106,467
down €106,467 (-71.5%), from €148,886 to €42,419
mainly Contributions, distributions and other (-€520,000) and Investment in fixed assets (net) (-€257,610)
- Deferred charges and accrued income -€100,742
down €100,742 (-98.4%), from €102,409 to €1,667
- Receivables within one year -€54,060
down €54,060 (-95.0%), from €56,894 to €2,834
of which Trade receivables: -€55,546
- Reserves -€388,698
down €388,698 (-71.2%), from €546,062 to €157,364
- Debts after one year +€92,164
new in 2025: €92,164
- Tax, wage and social debts -€86,345
down €86,345 (-90.4%), from €95,536 to €9,191
- Current portion of long-term debt +€7,836
up €7,836, from €0 to €7,836
- Gross operating margin -€156,092
down €156,092 (-42.2%), from €369,795 to €213,702
- Taxes -€47,313
down €47,313 (-55.1%), from €85,863 to €38,551
- Depreciation +€32,518
up €32,518 (+258%), from €12,595 to €45,113
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 | €660,291 | €286,519 | -€373,772 | -56.6% |
| Formation expenses | 20 | €229 | €15 | -€214 | -93.4% |
| Fixed assets | 21/28 | €26,873 | €239,584 | +€212,711 | +792% |
| Tangible fixed assets | 22/27 | €26,873 | €239,584 | +€212,711 | +792% |
| Land and buildings | 22 | - | €224,806 | +€224,806 | |
| Furniture and vehicles | 24 | €26,873 | €14,778 | -€12,094 | -45.0% |
| Current assets | 29/58 | €633,189 | €46,919 | -€586,270 | -92.6% |
| Amounts receivable within one year | 40/41 | €56,894 | €2,834 | -€54,060 | -95.0% |
| Trade receivables | 40 | €56,822 | €1,276 | -€55,546 | -97.8% |
| Other amounts receivable | 41 | €72 | €1,558 | +€1,486 | +2,052% |
| Current investments | 50/53 | €325,000 | €0 | -€325,000 | -100% |
| Cash at bank and in hand | 54/58 | €148,886 | €42,419 | -€106,467 | -71.5% |
| Deferred charges and accrued income | 490/1 | €102,409 | €1,667 | -€100,742 | -98.4% |
| Total equity and liabilities | 10/49 | €660,291 | €286,519 | -€373,772 | -56.6% |
| Equity | 10/15 | €561,062 | €172,364 | -€388,698 | -69.3% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €546,062 | €157,364 | -€388,698 | -71.2% |
| Distributable reserves | 133 | €546,062 | €157,364 | -€388,698 | -71.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €99,229 | €114,155 | +€14,926 | +15.0% |
| Amounts payable after more than one year | 17 | - | €92,164 | +€92,164 | |
| Financial debts | 170/4 | - | €92,164 | +€92,164 | |
| Amounts payable within one year | 42/48 | €99,229 | €21,991 | -€77,238 | -77.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | €7,836 | +€7,836 | |
| Trade debts | 44 | €26 | €424 | +€398 | +1,525% |
| Suppliers | 440/4 | €26 | €424 | +€398 | +1,525% |
| Taxes, remuneration and social security | 45 | €95,536 | €9,191 | -€86,345 | -90.4% |
| Taxes | 450/3 | €95,536 | €9,191 | -€86,345 | -90.4% |
| Other amounts payable | 47/48 | €3,667 | €4,540 | +€873 | +23.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,595 | €45,113 | +€32,518 | +258% |
| Other operating charges | 640/8 | €317 | €764 | +€448 | +141% |
| Gross operating margin | 9900 | €369,795 | €213,702 | -€156,092 | -42.2% |
| Operating profit (loss) | 9901 | €356,883 | €167,825 | -€189,058 | -53.0% |
| Financial income | 75/76B | €2,828 | €2,677 | -€151 | -5.3% |
| Recurring financial income | 75 | €2,828 | €2,677 | -€151 | -5.3% |
| Financial charges | 65/66B | €129 | €650 | +€521 | +404% |
| Recurring financial charges | 65 | €129 | €650 | +€521 | +404% |
| Profit (loss) for the period before taxes | 9903 | €359,582 | €169,853 | -€189,729 | -52.8% |
| Income taxes | 67/77 | €85,863 | €38,551 | -€47,313 | -55.1% |
| Profit (loss) for the period | 9904 | €273,718 | €131,302 | -€142,416 | -52.0% |
| Profit (loss) for the period to be appropriated | 9905 | €273,718 | €131,302 | -€142,416 | -52.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.