LIADVO: 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.
LIADVO
Largest movements
- Cash +€36,465
up €36,465 (+387.0%), from €9,422 to €45,888
mainly Net result for the year (+€44,915) and Depreciation (+€9,429)
- Tangible fixed assets -€3,833
down €3,833 (-10.9%), from €35,087 to €31,254
of which Furniture and vehicles: -€8,791
- Reserves +€40,000
up €40,000 (+72.7%), from €55,000 to €95,000
- Debts after one year -€8,776
down €8,776 (-39.9%), from €21,996 to €13,220
- Tax, wage and social debts -€5,147
down €5,147 (-20.6%), from €25,010 to €19,863
- Profit (loss) carried forward +€4,915
up €4,915 (+92.0%), from €5,344 to €10,259
- Gross operating margin +€14,761
up €14,761 (+25.8%), from €57,279 to €72,040
- Taxes +€4,184
up €4,184 (+32.8%), from €12,763 to €16,947
- Financial income +€778
up €778 (+144.8%), from €537 to €1,315
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 | €136,788 | €168,259 | +€31,471 | +23.0% |
| Fixed assets | 21/28 | €35,087 | €31,254 | -€3,833 | -10.9% |
| Tangible fixed assets | 22/27 | €35,087 | €31,254 | -€3,833 | -10.9% |
| Plant, machinery and equipment | 23 | €772 | €417 | -€355 | -46.0% |
| Furniture and vehicles | 24 | €29,795 | €21,003 | -€8,791 | -29.5% |
| Other tangible fixed assets | 26 | €4,520 | €9,833 | +€5,313 | +117.6% |
| Current assets | 29/58 | €101,701 | €137,006 | +€35,305 | +34.7% |
| Amounts receivable within one year | 40/41 | €91,909 | €90,953 | -€957 | -1.0% |
| Trade receivables | 40 | €51,909 | €50,953 | -€957 | -1.8% |
| Other amounts receivable | 41 | €40,000 | €40,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €9,422 | €45,888 | +€36,465 | +387.0% |
| Deferred charges and accrued income | 490/1 | €370 | €166 | -€204 | -55.2% |
| Total equity and liabilities | 10/49 | €136,788 | €168,259 | +€31,471 | +23.0% |
| Equity | 10/15 | €62,844 | €107,759 | +€44,915 | +71.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €55,000 | €95,000 | +€40,000 | +72.7% |
| Distributable reserves | 133 | €55,000 | €95,000 | +€40,000 | +72.7% |
| Profit (loss) carried forward | 14 | €5,344 | €10,259 | +€4,915 | +92.0% |
| Amounts payable | 17/49 | €73,944 | €60,500 | -€13,444 | -18.2% |
| Amounts payable after more than one year | 17 | €21,996 | €13,220 | -€8,776 | -39.9% |
| Financial debts | 170/4 | €21,996 | €13,220 | -€8,776 | -39.9% |
| Amounts payable within one year | 42/48 | €51,948 | €47,280 | -€4,668 | -9.0% |
| Current portion of amounts payable after more than one year | 42 | €8,275 | €8,601 | +€326 | +3.9% |
| Trade debts | 44 | €13,211 | €12,807 | -€404 | -3.1% |
| Suppliers | 440/4 | €13,211 | €12,807 | -€404 | -3.1% |
| Taxes, remuneration and social security | 45 | €25,010 | €19,863 | -€5,147 | -20.6% |
| Taxes | 450/3 | €25,010 | €19,863 | -€5,147 | -20.6% |
| Other amounts payable | 47/48 | €5,453 | €6,010 | +€557 | +10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,084 | €9,429 | +€345 | +3.8% |
| Other operating charges | 640/8 | €667 | €864 | +€197 | +29.5% |
| Gross operating margin | 9900 | €57,279 | €72,040 | +€14,761 | +25.8% |
| Operating profit (loss) | 9901 | €47,527 | €61,746 | +€14,219 | +29.9% |
| Financial income | 75/76B | €537 | €1,315 | +€778 | +144.8% |
| Recurring financial income | 75 | €537 | €1,315 | +€778 | +144.8% |
| Financial charges | 65/66B | €1,495 | €1,200 | -€295 | -19.8% |
| Recurring financial charges | 65 | €1,495 | €1,200 | -€295 | -19.8% |
| Profit (loss) for the period before taxes | 9903 | €46,569 | €61,862 | +€15,293 | +32.8% |
| Income taxes | 67/77 | €12,763 | €16,947 | +€4,184 | +32.8% |
| Profit (loss) for the period | 9904 | €33,807 | €44,915 | +€11,109 | +32.9% |
| Profit (loss) for the period to be appropriated | 9905 | €33,807 | €44,915 | +€11,109 | +32.9% |
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 3 October 2026 via checked.be.