LE LIBAN: what changed
Two fiscal 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.
LE LIBAN
Largest movements
- Cash -€6,326
down €6,326 (-6.5%), from €97,697 to €91,371
mainly Investment in fixed assets (net) (-€22,099) and Debts after one year (-€8,300)
- Tangible fixed assets +€3,783
up €3,783 (+7.7%), from €49,312 to €53,095
of which Plant, machinery and equipment: +€5,456
- Receivables within one year +€3,228
up €3,228 (+257.8%), from €1,252 to €4,480
of which Trade receivables: +€3,271
- Deferred charges and accrued income +€2,497
up €2,497 (+111.5%), from €2,239 to €4,736
- Trade debts +€17,140
up €17,140 (+149.7%), from €11,449 to €28,590
- Debts after one year -€8,300
down €8,300 (-84.3%), from €9,849 to €1,549
- Tax, wage and social debts -€5,605
down €5,605 (-16.7%), from €33,574 to €27,969
of which Remuneration and social security: -€2,835
- Accrued charges and deferred income -€3,989
no longer reported in 2025 (was €3,989)
- Current portion of long-term debt +€3,810
new in 2025: €3,810
- Gross operating margin -€23,333
down €23,333 (-6.9%), from €340,410 to €317,077
- Taxes -€5,202
down €5,202 (-94.5%), from €5,503 to €301
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.
Cash bridge derived
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 | €174,466 | €178,369 | +€3,903 | +2.2% |
| Fixed assets | 21/28 | €56,848 | €60,532 | +€3,684 | +6.5% |
| Tangible fixed assets | 22/27 | €49,312 | €53,095 | +€3,783 | +7.7% |
| Plant, machinery and equipment | 23 | €21,549 | €27,005 | +€5,456 | +25.3% |
| Furniture and vehicles | 24 | €5,093 | €2,887 | -€2,207 | -43.3% |
| Leasing and similar rights | 25 | €12,636 | €8,424 | -€4,212 | -33.3% |
| Other tangible fixed assets | 26 | €10,033 | €14,779 | +€4,745 | +47.3% |
| Financial fixed assets | 28 | €7,536 | €7,437 | -€99 | -1.3% |
| Current assets | 29/58 | €117,618 | €117,837 | +€219 | +0.2% |
| Stocks and contracts in progress | 3 | €16,430 | €17,250 | +€820 | +5.0% |
| Stocks | 30/36 | €16,430 | €17,250 | +€820 | +5.0% |
| Amounts receivable within one year | 40/41 | €1,252 | €4,480 | +€3,228 | +257.8% |
| Trade receivables | 40 | €1,209 | €4,480 | +€3,271 | +270.6% |
| Other amounts receivable | 41 | €43 | - | -€43 | |
| Cash at bank and in hand | 54/58 | €97,697 | €91,371 | -€6,326 | -6.5% |
| Deferred charges and accrued income | 490/1 | €2,239 | €4,736 | +€2,497 | +111.5% |
| Total equity and liabilities | 10/49 | €174,466 | €178,369 | +€3,903 | +2.2% |
| Equity | 10/15 | €114,537 | €116,450 | +€1,913 | +1.7% |
| Contributions | 10/11 | €29,750 | €29,750 | = | 0.0% |
| Reserves | 13 | €30,975 | €30,975 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,975 | €2,975 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,975 | €2,975 | = | 0.0% |
| Distributable reserves | 133 | €28,000 | €28,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €53,812 | €55,725 | +€1,913 | +3.6% |
| Amounts payable | 17/49 | €59,928 | €61,918 | +€1,990 | +3.3% |
| Amounts payable after more than one year | 17 | €9,849 | €1,549 | -€8,300 | -84.3% |
| Financial debts | 170/4 | €9,849 | €1,549 | -€8,300 | -84.3% |
| Amounts payable within one year | 42/48 | €46,090 | €60,369 | +€14,279 | +31.0% |
| Current portion of amounts payable after more than one year | 42 | - | €3,810 | +€3,810 | |
| Trade debts | 44 | €11,449 | €28,590 | +€17,140 | +149.7% |
| Suppliers | 440/4 | €11,449 | €28,590 | +€17,140 | +149.7% |
| Taxes, remuneration and social security | 45 | €33,574 | €27,969 | -€5,605 | -16.7% |
| Taxes | 450/3 | €14,358 | €11,587 | -€2,770 | -19.3% |
| Remuneration and social security | 454/9 | €19,216 | €16,381 | -€2,835 | -14.8% |
| Other amounts payable | 47/48 | €1,066 | €1 | -€1,065 | -99.9% |
| Accrued charges and deferred income | 492/3 | €3,989 | - | -€3,989 | |
| Remuneration, social security and pensions | 62 | €292,782 | €290,387 | -€2,395 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,122 | €18,415 | +€2,293 | +14.2% |
| Other operating charges | 640/8 | €2,845 | €663 | -€2,182 | -76.7% |
| Gross operating margin | 9900 | €340,410 | €317,077 | -€23,333 | -6.9% |
| Operating profit (loss) | 9901 | €28,661 | €7,612 | -€21,049 | -73.4% |
| Financial charges | 65/66B | €2,933 | €5,397 | +€2,465 | +84.0% |
| Recurring financial charges | 65 | €2,933 | €5,397 | +€2,465 | +84.0% |
| Profit (loss) for the period before taxes | 9903 | €25,728 | €2,214 | -€23,513 | -91.4% |
| Income taxes | 67/77 | €5,503 | €301 | -€5,202 | -94.5% |
| Profit (loss) for the period | 9904 | €20,225 | €1,913 | -€18,311 | -90.5% |
| Profit (loss) for the period to be appropriated | 9905 | €20,225 | €1,913 | -€18,311 | -90.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.