Kris 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.
Kris Liekens
Largest movements
- Receivables after one year +€83,500
new in 2025: €83,500
- Cash -€9,439
down €9,439 (-98.0%), from €9,632 to €193
- Tangible fixed assets -€1,687
down €1,687 (-55.2%), from €3,058 to €1,371
of which Plant, machinery and equipment: -€870
- Deferred charges and accrued income +€1,518
up €1,518 (+250%), from €608 to €2,126
- Reserves +€59,966
up €59,966 (+5,643%), from €1,063 to €61,028
- Tax, wage and social debts +€23,669
up €23,669 (+350%), from €6,761 to €30,430
of which Taxes: +€26,697
- Other debts -€8,521
down €8,521 (-89.1%), from €9,566 to €1,045
- Trade debts -€2,032
down €2,032 (-84.3%), from €2,410 to €379
- Gross operating margin +€53,457
up €53,457 (+329%), from €16,228 to €69,684
- Taxes +€21,892
up €21,892 (+3,478%), from €629 to €22,521
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €20,801 | €93,882 | +€73,081 | +351% |
| Fixed assets | 21/28 | €3,058 | €1,371 | -€1,687 | -55.2% |
| Tangible fixed assets | 22/27 | €3,058 | €1,371 | -€1,687 | -55.2% |
| Plant, machinery and equipment | 23 | €1,742 | €872 | -€870 | -49.9% |
| Furniture and vehicles | 24 | €1,316 | €499 | -€817 | -62.1% |
| Current assets | 29/58 | €17,743 | €92,511 | +€74,768 | +421% |
| Amounts receivable after more than one year | 29 | - | €83,500 | +€83,500 | |
| Other amounts receivable | 291 | - | €83,500 | +€83,500 | |
| Amounts receivable within one year | 40/41 | €7,504 | €6,693 | -€811 | -10.8% |
| Trade receivables | 40 | €7,504 | €4,549 | -€2,955 | -39.4% |
| Other amounts receivable | 41 | - | €2,144 | +€2,144 | |
| Cash at bank and in hand | 54/58 | €9,632 | €193 | -€9,439 | -98.0% |
| Deferred charges and accrued income | 490/1 | €608 | €2,126 | +€1,518 | +250% |
| Total equity and liabilities | 10/49 | €20,801 | €93,882 | +€73,081 | +351% |
| Equity | 10/15 | €2,063 | €62,028 | +€59,966 | +2,907% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €1,063 | €61,028 | +€59,966 | +5,643% |
| Distributable reserves | 133 | €1,063 | €61,028 | +€59,966 | +5,643% |
| Amounts payable | 17/49 | €18,738 | €31,854 | +€13,116 | +70.0% |
| Amounts payable within one year | 42/48 | €18,738 | €31,854 | +€13,116 | +70.0% |
| Trade debts | 44 | €2,410 | €379 | -€2,032 | -84.3% |
| Suppliers | 440/4 | €2,410 | €379 | -€2,032 | -84.3% |
| Taxes, remuneration and social security | 45 | €6,761 | €30,430 | +€23,669 | +350% |
| Taxes | 450/3 | €3,733 | €30,430 | +€26,697 | +715% |
| Remuneration and social security | 454/9 | €3,028 | - | -€3,028 | |
| Other amounts payable | 47/48 | €9,566 | €1,045 | -€8,521 | -89.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,330 | €1,167 | -€163 | -12.2% |
| Other operating charges | 640/8 | €479 | €1,124 | +€645 | +135% |
| Gross operating margin | 9900 | €16,228 | €69,684 | +€53,457 | +329% |
| Operating profit (loss) | 9901 | €14,419 | €67,394 | +€52,975 | +367% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €38 | €272 | +€235 | +626% |
| Recurring financial charges | 65 | €38 | €272 | +€235 | +626% |
| Profit (loss) for the period before taxes | 9903 | €14,381 | €67,122 | +€52,740 | +367% |
| Income taxes | 67/77 | €629 | €22,521 | +€21,892 | +3,478% |
| Profit (loss) for the period | 9904 | €13,752 | €44,601 | +€30,849 | +224% |
| Profit (loss) for the period to be appropriated | 9905 | €13,752 | €44,601 | +€30,849 | +224% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.