LA MAISON 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.
What changed
LA MAISON LIEGEOISE
NACE 68.202, Real estate activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€563,139
2024 · -€859,342+€296,203
Equity
€102.2m
2024 · €104.1m-€1.8m
Cash
€18.3m
2024 · €16.2m+€2.0m
Balance sheet total
€271.6m
2024 · €277.7m-€6.1m
Largest movements
Assets
- Receivables after one year -€9.6m
down €9.6m (-22.6%), from €42.7m to €33.1m
Equity and liabilities
- Debts after one year -€4.6m
down €4.6m (-4.8%), from €95.1m to €90.5m
of which Financial debts: -€4.6m
Income statement
- Turnover +€1.5m
up €1.5m (+8.8%), from €17.4m to €18.9m
- Services and other goods +€567,647
up €567,647 (+8.0%), from €7.1m to €7.7m
- Staff costs +€536,542
up €536,542 (+9.1%), from €5.9m to €6.4m
- Provisions +€333,670
up €333,670 (+47.4%), from €704,473 to €1.0m
- Financial charges -€234,300
down €234,300 (-7.6%), from €3.1m to €2.8m
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.
Result 2024
-€859,342
Turnover
+€1.5m
Other operating income
+€31,649
Goods and materials
+€102,309
Services and other goods
-€567,647
Staff costs
-€536,542
Depreciation
-€173,756
Write-downs
-€12,476
Provisions
-€333,670
Other operating charges
+€39,224
Other operating items
+€174,508
Financial income
-€194,638
Financial charges
+€234,300
Taxes
-€17
Result 2025
-€563,139
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€13.0m
Investment
-€5.5m
Financing
-€5.5m
Cash 2024
€16.2m
From operations (derived)
+€13.0m
Net result for the year
-€563,139
Depreciation
+€5.2m
Receivables after one year
+€9.6m
Stocks and contracts
-€24,586
Receivables within one year
-€1.2m
Deferred charges and accrued income
-€37,221
Provisions
+€1.0m
Trade debts
+€203,631
Tax, wage and social debts
-€52,005
Other debts
-€564,414
Accrued charges and deferred income
-€692,584
Investment (derived)
-€5.5m
Investment in fixed assets (net)
-€5.5m
Financing
-€5.5m
Debts after one year
-€4.6m
Current portion of long-term debt
+€186,149
Short-term financial debts
+€217,185
Contributions, distributions and other
-€1.3m
Cash 2025
€18.3m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €277,694,354 | €271,612,692 | -€6.1m | -2.2% |
| Fixed assets | 21/28 | €189,569,729 | €189,884,141 | +€314,412 | +0.2% |
| Intangible fixed assets | 21 | €2,451 | €30,090 | +€27,639 | +1,128% |
| Tangible fixed assets | 22/27 | €189,547,657 | €189,834,430 | +€286,773 | +0.2% |
| Land and buildings | 22 | €143,670,404 | €141,143,983 | -€2.5m | -1.8% |
| Plant, machinery and equipment | 23 | €12,317 | €18,419 | +€6,102 | +49.5% |
| Furniture and vehicles | 24 | €129,816 | €147,582 | +€17,766 | +13.7% |
| Other tangible fixed assets | 26 | €39,423,193 | €38,263,399 | -€1.2m | -2.9% |
| Assets under construction and advance payments | 27 | €6,311,926 | €10,261,047 | +€3.9m | +62.6% |
| Financial fixed assets | 28 | €19,621 | €19,621 | = | 0.0% |
| Other financial fixed assets | 284/8 | €19,621 | €19,621 | = | 0.0% |
| Shares | 284 | €16,445 | €16,445 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €3,176 | €3,176 | = | 0.0% |
| Current assets | 29/58 | €88,124,625 | €81,728,551 | -€6.4m | -7.3% |
| Amounts receivable after more than one year | 29 | €42,728,657 | €33,083,031 | -€9.6m | -22.6% |
| Other amounts receivable | 291 | €42,728,657 | €33,083,031 | -€9.6m | -22.6% |
| Stocks and contracts in progress | 3 | €255,319 | €279,905 | +€24,586 | +9.6% |
| Stocks | 30/36 | €255,319 | €279,905 | +€24,586 | +9.6% |
| Raw materials and consumables | 30/31 | €255,319 | €279,905 | +€24,586 | +9.6% |
| Amounts receivable within one year | 40/41 | €27,807,455 | €28,983,185 | +€1.2m | +4.2% |
| Trade receivables | 40 | €833,300 | €1,040,309 | +€207,009 | +24.8% |
| Other amounts receivable | 41 | €26,974,155 | €27,942,876 | +€968,722 | +3.6% |
| Cash at bank and in hand | 54/58 | €16,246,252 | €18,258,267 | +€2.0m | +12.4% |
| Deferred charges and accrued income | 490/1 | €1,086,942 | €1,124,163 | +€37,221 | +3.4% |
| Total equity and liabilities | 10/49 | €277,694,354 | €271,612,692 | -€6.1m | -2.2% |
| Equity | 10/15 | €104,089,629 | €102,241,012 | -€1.8m | -1.8% |
| Contributions | 10/11 | €1,152,600 | €1,152,600 | = | 0.0% |
| Reserves | 13 | €4,638,377 | €4,638,377 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,742 | €15,742 | = | 0.0% |
| Reserves not available under the articles | 1311 | €15,742 | €15,742 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,605,092 | €4,605,092 | = | 0.0% |
| Distributable reserves | 133 | €17,543 | €17,543 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,258,291 | -€24,821,430 | -€563,139 | -2.3% |
| Investment grants | 15 | €122,556,943 | €121,271,465 | -€1.3m | -1.0% |
| Provisions and deferred taxes | 16 | €6,690,095 | €7,728,238 | +€1.0m | +15.5% |
| Provisions for liabilities and charges | 160/5 | €6,690,095 | €7,728,238 | +€1.0m | +15.5% |
| Pensions and similar obligations | 160 | €6,665,483 | €7,716,000 | +€1.1m | +15.8% |
| Other liabilities and charges | 164/5 | €24,612 | €12,238 | -€12,374 | -50.3% |
| Amounts payable | 17/49 | €166,914,630 | €161,643,442 | -€5.3m | -3.2% |
| Amounts payable after more than one year | 17 | €95,089,248 | €90,520,097 | -€4.6m | -4.8% |
| Financial debts | 170/4 | €95,043,128 | €90,453,197 | -€4.6m | -4.8% |
| Credit institutions | 173 | €85,934,413 | €82,097,072 | -€3.8m | -4.5% |
| Other loans | 174 | €9,108,716 | €8,356,125 | -€752,591 | -8.3% |
| Other amounts payable | 178/9 | €46,120 | €66,901 | +€20,781 | +45.1% |
| Amounts payable within one year | 42/48 | €58,122,718 | €58,113,265 | -€9,453 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €8,340,744 | €8,526,893 | +€186,149 | +2.2% |
| Financial debts | 43 | €43,603,034 | €43,820,220 | +€217,185 | +0.5% |
| Credit institutions | 430/8 | €43,603,034 | €43,820,220 | +€217,185 | +0.5% |
| Trade debts | 44 | €2,685,897 | €2,889,528 | +€203,631 | +7.6% |
| Suppliers | 440/4 | €2,685,897 | €2,889,528 | +€203,631 | +7.6% |
| Taxes, remuneration and social security | 45 | €712,071 | €660,066 | -€52,005 | -7.3% |
| Taxes | 450/3 | €84,895 | €53,407 | -€31,488 | -37.1% |
| Remuneration and social security | 454/9 | €627,176 | €606,659 | -€20,517 | -3.3% |
| Other amounts payable | 47/48 | €2,780,972 | €2,216,558 | -€564,414 | -20.3% |
| Accrued charges and deferred income | 492/3 | €13,702,664 | €13,010,079 | -€692,584 | -5.1% |
| Operating income | 70/76A | €19,920,234 | €21,495,020 | +€1.6m | +7.9% |
| Turnover | 70 | €17,375,885 | €18,908,843 | +€1.5m | +8.8% |
| Other operating income | 74 | €2,540,139 | €2,571,788 | +€31,649 | +1.2% |
| Non-recurring operating income | 76A | €4,210 | €14,389 | +€10,179 | +242% |
| Operating charges | 60/66A | €21,498,340 | €22,816,568 | +€1.3m | +6.1% |
| Goods for resale, raw materials and consumables | 60 | €236,525 | €134,217 | -€102,309 | -43.3% |
| Purchases | 600/8 | €179,282 | €158,802 | -€20,480 | -11.4% |
| Change in stocks: decrease (increase) | 609 | €57,243 | -€24,586 | -€81,829 | |
| Services and other goods | 61 | €7,129,292 | €7,696,939 | +€567,647 | +8.0% |
| Remuneration, social security and pensions | 62 | €5,913,235 | €6,449,777 | +€536,542 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,003,264 | €5,177,020 | +€173,756 | +3.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €126,241 | €138,717 | +€12,476 | +9.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €704,473 | €1,038,143 | +€333,670 | +47.4% |
| Other operating charges | 640/8 | €2,021,209 | €1,981,985 | -€39,224 | -1.9% |
| Non-recurring operating charges | 66A | €364,101 | €199,771 | -€164,329 | -45.1% |
| Operating profit (loss) | 9901 | -€1,578,106 | -€1,321,548 | +€256,558 | +16.3% |
| Financial income | 75/76B | €3,782,918 | €3,588,280 | -€194,638 | -5.1% |
| Recurring financial income | 75 | €3,782,918 | €3,588,280 | -€194,638 | -5.1% |
| Income from current assets | 751 | €28,345 | €16,684 | -€11,660 | -41.1% |
| Other financial income | 752/9 | €3,754,573 | €3,571,596 | -€182,977 | -4.9% |
| Financial charges | 65/66B | €3,064,111 | €2,829,811 | -€234,300 | -7.6% |
| Recurring financial charges | 65 | €3,064,111 | €2,829,811 | -€234,300 | -7.6% |
| Debt charges | 650 | €3,062,584 | €2,828,212 | -€234,373 | -7.7% |
| Other financial charges | 652/9 | €1,527 | €1,599 | +€72 | +4.7% |
| Profit (loss) for the period before taxes | 9903 | -€859,300 | -€563,080 | +€296,220 | +34.5% |
| Income taxes | 67/77 | €43 | €60 | +€17 | +39.0% |
| Taxes | 670/3 | €43 | €60 | +€17 | +39.0% |
| Profit (loss) for the period | 9904 | -€859,342 | -€563,139 | +€296,203 | +34.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€859,342 | -€563,139 | +€296,203 | +34.5% |
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.