LA LIEGEOISE: 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.
LA LIEGEOISE
Largest movements
- Tangible fixed assets -€19,867
down €19,867 (-22.9%), from €86,650 to €66,783
of which Other tangible fixed assets: -€19,445
- Cash -€6,435
down €6,435 (-25.8%), from €24,910 to €18,475
mainly Net result for the year (-€45,643) and Tax, wage and social debts (-€13,416)
- Stocks and contracts -€4,317
down €4,317 (-13.8%), from €31,395 to €27,078
- Profit (loss) carried forward -€45,643
down €45,643, from €36,856 to -€8,787
- Trade debts +€26,095
up €26,095 (+102%), from €25,668 to €51,763
- Tax, wage and social debts -€13,416
down €13,416 (-22.9%), from €58,705 to €45,288
of which Taxes: -€21,483
- Other debts +€7,450
up €7,450 (+70.2%), from €10,614 to €18,065
- Debts after one year -€2,793
no longer reported in 2025 (was €2,793)
- Staff costs +€63,791
up €63,791 (+31.2%), from €204,485 to €268,276
- Gross operating margin +€28,903
up €28,903 (+12.5%), from €231,956 to €260,859
- Other operating charges +€5,468
up €5,468 (+131%), from €4,167 to €9,635
- Financial charges +€2,709
up €2,709 (+112%), from €2,423 to €5,132
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 | €164,583 | €133,567 | -€31,016 | -18.8% |
| Fixed assets | 21/28 | €87,850 | €67,983 | -€19,867 | -22.6% |
| Tangible fixed assets | 22/27 | €86,650 | €66,783 | -€19,867 | -22.9% |
| Plant, machinery and equipment | 23 | €4,017 | €1,878 | -€2,139 | -53.2% |
| Furniture and vehicles | 24 | €6,005 | €7,723 | +€1,718 | +28.6% |
| Other tangible fixed assets | 26 | €76,627 | €57,182 | -€19,445 | -25.4% |
| Financial fixed assets | 28 | €1,200 | €1,200 | = | 0.0% |
| Current assets | 29/58 | €76,734 | €65,584 | -€11,150 | -14.5% |
| Stocks and contracts in progress | 3 | €31,395 | €27,078 | -€4,317 | -13.8% |
| Stocks | 30/36 | €31,395 | €27,078 | -€4,317 | -13.8% |
| Amounts receivable within one year | 40/41 | €20,429 | €20,031 | -€397 | -1.9% |
| Trade receivables | 40 | €29 | - | -€29 | |
| Other amounts receivable | 41 | €20,399 | €20,031 | -€368 | -1.8% |
| Cash at bank and in hand | 54/58 | €24,910 | €18,475 | -€6,435 | -25.8% |
| Total equity and liabilities | 10/49 | €164,583 | €133,567 | -€31,016 | -18.8% |
| Equity | 10/15 | €57,261 | €11,618 | -€45,643 | -79.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,856 | -€8,787 | -€45,643 | |
| Amounts payable | 17/49 | €107,322 | €121,949 | +€14,627 | +13.6% |
| Amounts payable after more than one year | 17 | €2,793 | - | -€2,793 | |
| Financial debts | 170/4 | €2,793 | - | -€2,793 | |
| Amounts payable within one year | 42/48 | €104,530 | €121,949 | +€17,419 | +16.7% |
| Current portion of amounts payable after more than one year | 42 | €9,543 | €6,833 | -€2,709 | -28.4% |
| Trade debts | 44 | €25,668 | €51,763 | +€26,095 | +102% |
| Suppliers | 440/4 | €25,668 | €51,763 | +€26,095 | +102% |
| Taxes, remuneration and social security | 45 | €58,705 | €45,288 | -€13,416 | -22.9% |
| Taxes | 450/3 | €46,526 | €25,043 | -€21,483 | -46.2% |
| Remuneration and social security | 454/9 | €12,179 | €20,245 | +€8,067 | +66.2% |
| Other amounts payable | 47/48 | €10,614 | €18,065 | +€7,450 | +70.2% |
| Remuneration, social security and pensions | 62 | €204,485 | €268,276 | +€63,791 | +31.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,269 | €23,567 | -€702 | -2.9% |
| Other operating charges | 640/8 | €4,167 | €9,635 | +€5,468 | +131% |
| Gross operating margin | 9900 | €231,956 | €260,859 | +€28,903 | +12.5% |
| Operating profit (loss) | 9901 | -€964 | -€40,618 | -€39,654 | -4,112% |
| Financial income | 75/76B | €260 | €240 | -€20 | -7.7% |
| Recurring financial income | 75 | €260 | €240 | -€20 | -7.7% |
| Financial charges | 65/66B | €2,423 | €5,132 | +€2,709 | +112% |
| Recurring financial charges | 65 | €2,423 | €5,132 | +€2,709 | +112% |
| Profit (loss) for the period before taxes | 9903 | -€3,127 | -€45,511 | -€42,383 | -1,355% |
| Income taxes | 67/77 | €128 | €132 | +€4 | +3.1% |
| Profit (loss) for the period | 9904 | -€3,255 | -€45,643 | -€42,387 | -1,302% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,255 | -€45,643 | -€42,387 | -1,302% |
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 25 October 2026 via checked.be.