LI-BERT: 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.
LI-BERT
Largest movements
- Tangible fixed assets +€478,642
up €478,642 (+1655.6%), from €28,911 to €507,553
of which Land and buildings: +€489,291
- Cash -€144,633
down €144,633 (-64.1%), from €225,549 to €80,916
mainly Investment in fixed assets (net) (-€582,052) and Other debts (-€33,150)
- Receivables within one year -€46,466
down €46,466 (-73.5%), from €63,196 to €16,730
of which Other amounts receivable: -€47,898
- Debts after one year +€313,547
up €313,547 (+10501.0%), from €2,986 to €316,533
of which Financial debts: +€314,477
- Other debts -€33,150
down €33,150 (-100.0%), from €33,150 to €0
- Profit (loss) carried forward -€19,070
down €19,070, from €341 to -€18,729
- Current portion of long-term debt +€18,819
new in 2025: €18,819
- Depreciation +€93,320
up €93,320 (+924.8%), from €10,091 to €103,410
- Gross operating margin +€33,626
up €33,626 (+73.6%), from €45,703 to €79,329
- Taxes -€12,934
down €12,934 (-96.8%), from €13,367 to €433
- Financial charges +€11,453
up €11,453 (+3057.9%), from €375 to €11,828
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 | €650,257 | €937,893 | +€287,636 | +44.2% |
| Fixed assets | 21/28 | €28,936 | €507,578 | +€478,642 | +1654.1% |
| Tangible fixed assets | 22/27 | €28,911 | €507,553 | +€478,642 | +1655.6% |
| Land and buildings | 22 | €755 | €490,046 | +€489,291 | +64803.4% |
| Plant, machinery and equipment | 23 | €4,236 | €2,424 | -€1,813 | -42.8% |
| Furniture and vehicles | 24 | €23,920 | €15,083 | -€8,837 | -36.9% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €621,321 | €430,315 | -€191,006 | -30.7% |
| Amounts receivable after more than one year | 29 | €330,000 | €330,000 | = | 0.0% |
| Other amounts receivable | 291 | €330,000 | €330,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €63,196 | €16,730 | -€46,466 | -73.5% |
| Trade receivables | 40 | €11,021 | €12,454 | +€1,432 | +13.0% |
| Other amounts receivable | 41 | €52,175 | €4,276 | -€47,898 | -91.8% |
| Current investments | 50/53 | €262 | €262 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €225,549 | €80,916 | -€144,633 | -64.1% |
| Deferred charges and accrued income | 490/1 | €2,314 | €2,406 | +€92 | +4.0% |
| Total equity and liabilities | 10/49 | €650,257 | €937,893 | +€287,636 | +44.2% |
| Equity | 10/15 | €600,203 | €581,133 | -€19,070 | -3.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €574,862 | €574,862 | = | 0.0% |
| Distributable reserves | 133 | €574,862 | €574,862 | = | 0.0% |
| Profit (loss) carried forward | 14 | €341 | -€18,729 | -€19,070 | |
| Amounts payable | 17/49 | €50,055 | €356,760 | +€306,705 | +612.7% |
| Amounts payable after more than one year | 17 | €2,986 | €316,533 | +€313,547 | +10501.0% |
| Financial debts | 170/4 | - | €314,477 | +€314,477 | |
| Other amounts payable | 178/9 | €2,986 | €2,056 | -€930 | -31.1% |
| Amounts payable within one year | 42/48 | €47,069 | €40,227 | -€6,842 | -14.5% |
| Current portion of amounts payable after more than one year | 42 | - | €18,819 | +€18,819 | |
| Trade debts | 44 | €857 | €1,442 | +€585 | +68.3% |
| Suppliers | 440/4 | €857 | €1,442 | +€585 | +68.3% |
| Taxes, remuneration and social security | 45 | €13,062 | €19,966 | +€6,904 | +52.9% |
| Taxes | 450/3 | €13,062 | €16,626 | +€3,565 | +27.3% |
| Remuneration and social security | 454/9 | €0 | €3,339 | +€3,339 | |
| Other amounts payable | 47/48 | €33,150 | €0 | -€33,150 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,091 | €103,410 | +€93,320 | +924.8% |
| Other operating charges | 640/8 | €450 | €647 | +€198 | +43.9% |
| Gross operating margin | 9900 | €45,703 | €79,329 | +€33,626 | +73.6% |
| Operating profit (loss) | 9901 | €35,163 | -€24,728 | -€59,891 | |
| Financial income | 75/76B | €17,920 | €17,919 | -€1 | 0.0% |
| Recurring financial income | 75 | €17,920 | €17,919 | -€1 | 0.0% |
| Financial charges | 65/66B | €375 | €11,828 | +€11,453 | +3057.9% |
| Recurring financial charges | 65 | €375 | €11,828 | +€11,453 | +3057.9% |
| Profit (loss) for the period before taxes | 9903 | €52,709 | -€18,637 | -€71,345 | |
| Income taxes | 67/77 | €13,367 | €433 | -€12,934 | -96.8% |
| Profit (loss) for the period | 9904 | €39,341 | -€19,070 | -€58,411 | |
| Profit (loss) for the period to be appropriated | 9905 | €39,341 | -€19,070 | -€58,411 |
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 10 October 2026 via checked.be.