LI-ME: 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-ME
Largest movements
- Stocks and contracts -€102,008
down €102,008 (-16.2%), from €628,038 to €526,030
- Cash -€37,749
down €37,749 (-45.7%), from €82,528 to €44,779
mainly Debts after one year (-€582,482) and Contributions, distributions and other (-€250,000)
- Tangible fixed assets -€28,736
down €28,736 (-2.9%), from €987,085 to €958,349
of which Land and buildings: -€32,839
- Debts after one year -€582,482
down €582,482 (-55.5%), from €1.0m to €467,346
of which Financial debts: -€582,482
- Current portion of long-term debt +€405,827
up €405,827 (+406.3%), from €99,895 to €505,722
- Profit (loss) carried forward -€160,909
down €160,909 (-27.5%), from €584,153 to €423,243
- Other debts +€130,530
up €130,530 (+2406.3%), from €5,425 to €135,955
- Tax, wage and social debts +€24,730
up €24,730 (+113.5%), from €21,779 to €46,508
- Other operating charges +€28,454
up €28,454 (+431.4%), from €6,595 to €35,050
- Financial charges +€18,879
up €18,879 (+80.0%), from €23,602 to €42,481
- Financial income +€14,610
up €14,610 (+36.4%), from €40,155 to €54,765
- Gross operating margin +€11,112
up €11,112 (+5.7%), from €195,021 to €206,133
- Taxes +€5,055
up €5,055 (+18.2%), from €27,786 to €32,841
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 | €1,764,584 | €1,595,548 | -€169,036 | -9.6% |
| Formation expenses | 20 | €87 | - | -€87 | |
| Fixed assets | 21/28 | €992,085 | €964,282 | -€27,803 | -2.8% |
| Tangible fixed assets | 22/27 | €987,085 | €958,349 | -€28,736 | -2.9% |
| Land and buildings | 22 | €917,811 | €884,972 | -€32,839 | -3.6% |
| Plant, machinery and equipment | 23 | €1,048 | €803 | -€245 | -23.4% |
| Furniture and vehicles | 24 | €68,226 | €72,575 | +€4,348 | +6.4% |
| Financial fixed assets | 28 | €5,000 | €5,933 | +€933 | +18.7% |
| Current assets | 29/58 | €772,412 | €631,266 | -€141,146 | -18.3% |
| Stocks and contracts in progress | 3 | €628,038 | €526,030 | -€102,008 | -16.2% |
| Stocks | 30/36 | €628,038 | €526,030 | -€102,008 | -16.2% |
| Amounts receivable within one year | 40/41 | €60,142 | €59,373 | -€768 | -1.3% |
| Trade receivables | 40 | €42,928 | €30,000 | -€12,928 | -30.1% |
| Other amounts receivable | 41 | €17,214 | €29,373 | +€12,159 | +70.6% |
| Cash at bank and in hand | 54/58 | €82,528 | €44,779 | -€37,749 | -45.7% |
| Deferred charges and accrued income | 490/1 | €1,705 | €1,084 | -€621 | -36.4% |
| Total equity and liabilities | 10/49 | €1,764,584 | €1,595,548 | -€169,036 | -9.6% |
| Equity | 10/15 | €585,653 | €424,743 | -€160,909 | -27.5% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €584,153 | €423,243 | -€160,909 | -27.5% |
| Amounts payable | 17/49 | €1,178,932 | €1,170,804 | -€8,127 | -0.7% |
| Amounts payable after more than one year | 17 | €1,049,828 | €467,346 | -€582,482 | -55.5% |
| Financial debts | 170/4 | €1,048,658 | €466,176 | -€582,482 | -55.5% |
| Other amounts payable | 178/9 | €1,170 | €1,170 | = | 0.0% |
| Amounts payable within one year | 42/48 | €129,104 | €702,734 | +€573,630 | +444.3% |
| Current portion of amounts payable after more than one year | 42 | €99,895 | €505,722 | +€405,827 | +406.3% |
| Trade debts | 44 | €2,006 | €14,549 | +€12,543 | +625.4% |
| Suppliers | 440/4 | €2,006 | €14,549 | +€12,543 | +625.4% |
| Taxes, remuneration and social security | 45 | €21,779 | €46,508 | +€24,730 | +113.5% |
| Taxes | 450/3 | €21,779 | €46,508 | +€24,730 | +113.5% |
| Other amounts payable | 47/48 | €5,425 | €135,955 | +€130,530 | +2406.3% |
| Accrued charges and deferred income | 492/3 | - | €725 | +€725 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,598 | €52,743 | +€3,145 | +6.3% |
| Other operating charges | 640/8 | €6,595 | €35,050 | +€28,454 | +431.4% |
| Non-recurring operating charges | 66A | €6,117 | €8,692 | +€2,575 | +42.1% |
| Gross operating margin | 9900 | €195,021 | €206,133 | +€11,112 | +5.7% |
| Operating profit (loss) | 9901 | €132,710 | €109,648 | -€23,062 | -17.4% |
| Financial income | 75/76B | €40,155 | €54,765 | +€14,610 | +36.4% |
| Recurring financial income | 75 | €40,155 | €54,765 | +€14,610 | +36.4% |
| Financial charges | 65/66B | €23,602 | €42,481 | +€18,879 | +80.0% |
| Recurring financial charges | 65 | €23,602 | €42,481 | +€18,879 | +80.0% |
| Profit (loss) for the period before taxes | 9903 | €149,264 | €121,932 | -€27,332 | -18.3% |
| Income taxes | 67/77 | €27,786 | €32,841 | +€5,055 | +18.2% |
| Profit (loss) for the period | 9904 | €121,478 | €89,091 | -€32,387 | -26.7% |
| Profit (loss) for the period to be appropriated | 9905 | €121,478 | €89,091 | -€32,387 | -26.7% |
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 11 October 2026 via checked.be.