LIAM CONCEPT: 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.
LIAM CONCEPT
Largest movements
- Receivables within one year +€81,148
up €81,148 (+220.6%), from €36,789 to €117,937
of which Trade receivables: +€70,452
- Tangible fixed assets -€76,364
down €76,364 (-20.8%), from €367,397 to €291,033
of which Other tangible fixed assets: -€58,053
- Cash -€46,789
down €46,789 (-29.8%), from €157,252 to €110,462
mainly Trade debts (-€107,790) and Receivables within one year (-€81,148)
- Trade debts -€107,790
down €107,790 (-90.7%), from €118,798 to €11,008
- Profit (loss) carried forward +€106,309
up €106,309 (+38.1%), from €278,915 to €385,225
- Other debts -€25,553
down €25,553 (-46.8%), from €54,589 to €29,036
- Debts after one year -€20,840
down €20,840 (-22.2%), from €93,668 to €72,828
- Tax, wage and social debts +€8,929
up €8,929 (+10.9%), from €82,084 to €91,013
of which Remuneration and social security: +€11,397
- Gross operating margin +€126,565
up €126,565 (+41.2%), from €307,513 to €434,078
- Staff costs +€66,981
up €66,981 (+63.5%), from €105,410 to €172,390
- Taxes +€14,687
up €14,687 (+53.2%), from €27,603 to €42,289
- Depreciation +€6,789
up €6,789 (+7.3%), from €92,923 to €99,712
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 | €642,245 | €603,204 | -€39,041 | -6.1% |
| Fixed assets | 21/28 | €430,060 | €353,696 | -€76,364 | -17.8% |
| Tangible fixed assets | 22/27 | €367,397 | €291,033 | -€76,364 | -20.8% |
| Plant, machinery and equipment | 23 | €22,156 | €25,295 | +€3,139 | +14.2% |
| Furniture and vehicles | 24 | €52,768 | €26,982 | -€25,786 | -48.9% |
| Leasing and similar rights | 25 | €7,368 | €11,703 | +€4,335 | +58.8% |
| Other tangible fixed assets | 26 | €285,105 | €227,053 | -€58,053 | -20.4% |
| Financial fixed assets | 28 | €62,663 | €62,663 | = | 0.0% |
| Current assets | 29/58 | €212,185 | €249,508 | +€37,323 | +17.6% |
| Stocks and contracts in progress | 3 | €11,039 | €17,036 | +€5,997 | +54.3% |
| Stocks | 30/36 | €11,039 | €17,036 | +€5,997 | +54.3% |
| Amounts receivable within one year | 40/41 | €36,789 | €117,937 | +€81,148 | +220.6% |
| Trade receivables | 40 | €17,504 | €87,957 | +€70,452 | +402.5% |
| Other amounts receivable | 41 | €19,284 | €29,980 | +€10,696 | +55.5% |
| Cash at bank and in hand | 54/58 | €157,252 | €110,462 | -€46,789 | -29.8% |
| Deferred charges and accrued income | 490/1 | €7,106 | €4,073 | -€3,033 | -42.7% |
| Total equity and liabilities | 10/49 | €642,245 | €603,204 | -€39,041 | -6.1% |
| Equity | 10/15 | €285,115 | €391,425 | +€106,309 | +37.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €278,915 | €385,225 | +€106,309 | +38.1% |
| Amounts payable | 17/49 | €357,130 | €211,780 | -€145,350 | -40.7% |
| Amounts payable after more than one year | 17 | €93,668 | €72,828 | -€20,840 | -22.2% |
| Financial debts | 170/4 | €93,668 | €72,828 | -€20,840 | -22.2% |
| Amounts payable within one year | 42/48 | €262,835 | €138,564 | -€124,270 | -47.3% |
| Current portion of amounts payable after more than one year | 42 | €7,364 | €7,507 | +€143 | +1.9% |
| Trade debts | 44 | €118,798 | €11,008 | -€107,790 | -90.7% |
| Suppliers | 440/4 | €118,798 | €11,008 | -€107,790 | -90.7% |
| Taxes, remuneration and social security | 45 | €82,084 | €91,013 | +€8,929 | +10.9% |
| Taxes | 450/3 | €81,960 | €79,492 | -€2,468 | -3.0% |
| Remuneration and social security | 454/9 | €125 | €11,521 | +€11,397 | +9154.1% |
| Other amounts payable | 47/48 | €54,589 | €29,036 | -€25,553 | -46.8% |
| Accrued charges and deferred income | 492/3 | €627 | €387 | -€240 | -38.3% |
| Remuneration, social security and pensions | 62 | €105,410 | €172,390 | +€66,981 | +63.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,923 | €99,712 | +€6,789 | +7.3% |
| Other operating charges | 640/8 | €16,014 | €12,244 | -€3,770 | -23.5% |
| Gross operating margin | 9900 | €307,513 | €434,078 | +€126,565 | +41.2% |
| Operating profit (loss) | 9901 | €93,166 | €149,731 | +€56,566 | +60.7% |
| Financial income | 75/76B | - | €130 | +€130 | |
| Recurring financial income | 75 | - | €130 | +€130 | |
| Financial charges | 65/66B | €4,573 | €1,262 | -€3,311 | -72.4% |
| Recurring financial charges | 65 | €4,573 | €1,262 | -€3,311 | -72.4% |
| Profit (loss) for the period before taxes | 9903 | €88,592 | €148,599 | +€60,006 | +67.7% |
| Income taxes | 67/77 | €27,603 | €42,289 | +€14,687 | +53.2% |
| Profit (loss) for the period | 9904 | €60,990 | €106,309 | +€45,320 | +74.3% |
| Profit (loss) for the period to be appropriated | 9905 | €60,990 | €106,309 | +€45,320 | +74.3% |
Source: filed annual accounts (NBB), fiscal years ended 29 February 2024 and 28 February 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.