Li coeûr: 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 coeûr
Largest movements
- Cash -€14,745
down €14,745 (-40.0%), from €36,887 to €22,142
mainly Current portion of long-term debt (-€26,780) and Investment in fixed assets (net) (-€20,166)
- Tangible fixed assets +€11,247
up €11,247 (+4.7%), from €239,799 to €251,046
of which Plant, machinery and equipment: +€14,296
- Receivables within one year +€6,912
up €6,912 (+123%), from €5,605 to €12,517
of which Trade receivables: +€6,779
- Current portion of long-term debt -€26,780
down €26,780 (-77.5%), from €34,561 to €7,781
- Debts after one year +€19,325
up €19,325 (+11.6%), from €165,983 to €185,308
- Other debts +€16,267
up €16,267 (+13.1%), from €124,185 to €140,452
- Profit (loss) carried forward -€10,971
down €10,971 (-17.5%), from -€62,845 to -€73,816
- Trade debts +€4,935
up €4,935 (+41.8%), from €11,818 to €16,753
- Gross operating margin +€3,531
up €3,531 (+60.0%), from €5,883 to €9,414
- Depreciation +€2,711
up €2,711 (+43.7%), from €6,208 to €8,919
- Financial charges +€1,891
up €1,891 (+26.0%), from €7,276 to €9,167
- Other operating charges +€660
up €660 (+40.2%), from €1,639 to €2,299
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 | €283,702 | €286,478 | +€2,776 | +1.0% |
| Fixed assets | 21/28 | €239,799 | €251,046 | +€11,247 | +4.7% |
| Tangible fixed assets | 22/27 | €239,799 | €251,046 | +€11,247 | +4.7% |
| Land and buildings | 22 | €211,120 | €206,470 | -€4,650 | -2.2% |
| Plant, machinery and equipment | 23 | €28,679 | €42,975 | +€14,296 | +49.8% |
| Assets under construction and advance payments | 27 | - | €1,601 | +€1,601 | |
| Current assets | 29/58 | €43,902 | €35,432 | -€8,470 | -19.3% |
| Stocks and contracts in progress | 3 | €918 | €617 | -€301 | -32.8% |
| Stocks | 30/36 | €918 | €617 | -€301 | -32.8% |
| Amounts receivable within one year | 40/41 | €5,605 | €12,517 | +€6,912 | +123% |
| Trade receivables | 40 | €4,873 | €11,652 | +€6,779 | +139% |
| Other amounts receivable | 41 | €732 | €865 | +€133 | +18.2% |
| Cash at bank and in hand | 54/58 | €36,887 | €22,142 | -€14,745 | -40.0% |
| Deferred charges and accrued income | 490/1 | €492 | €156 | -€336 | -68.3% |
| Total equity and liabilities | 10/49 | €283,702 | €286,478 | +€2,776 | +1.0% |
| Equity | 10/15 | -€52,845 | -€63,816 | -€10,971 | -20.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€62,845 | -€73,816 | -€10,971 | -17.5% |
| Amounts payable | 17/49 | €336,547 | €350,294 | +€13,747 | +4.1% |
| Amounts payable after more than one year | 17 | €165,983 | €185,308 | +€19,325 | +11.6% |
| Financial debts | 170/4 | €165,983 | €185,308 | +€19,325 | +11.6% |
| Amounts payable within one year | 42/48 | €170,564 | €164,986 | -€5,578 | -3.3% |
| Current portion of amounts payable after more than one year | 42 | €34,561 | €7,781 | -€26,780 | -77.5% |
| Trade debts | 44 | €11,818 | €16,753 | +€4,935 | +41.8% |
| Suppliers | 440/4 | €11,818 | €16,753 | +€4,935 | +41.8% |
| Other amounts payable | 47/48 | €124,185 | €140,452 | +€16,267 | +13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,208 | €8,919 | +€2,711 | +43.7% |
| Other operating charges | 640/8 | €1,639 | €2,299 | +€660 | +40.2% |
| Gross operating margin | 9900 | €5,883 | €9,414 | +€3,531 | +60.0% |
| Operating profit (loss) | 9901 | -€1,965 | -€1,804 | +€161 | +8.2% |
| Financial charges | 65/66B | €7,276 | €9,167 | +€1,891 | +26.0% |
| Recurring financial charges | 65 | €7,276 | €9,167 | +€1,891 | +26.0% |
| Profit (loss) for the period before taxes | 9903 | -€9,241 | -€10,971 | -€1,730 | -18.7% |
| Profit (loss) for the period | 9904 | -€9,241 | -€10,971 | -€1,730 | -18.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,241 | -€10,971 | -€1,730 | -18.7% |
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 26 October 2026 via checked.be.