LIAN PROJECT: 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.
LIAN PROJECT
Largest movements
- Receivables within one year +€38,674
up €38,674 (+38.5%), from €100,337 to €139,011
of which Other amounts receivable: +€37,200
- Tangible fixed assets +€14,196
up €14,196 (+74.1%), from €19,165 to €33,361
of which Leasing and similar rights: +€32,590
- Cash -€3,578
down €3,578 (-81.9%), from €4,371 to €793
mainly Receivables within one year (-€38,674) and Investment in fixed assets (net) (-€16,849)
- Profit (loss) carried forward +€32,844
up €32,844 (+68.4%), from €48,029 to €80,872
- Debts after one year +€21,507
up €21,507 (+2212.6%), from €972 to €22,479
- Accrued charges and deferred income -€5,160
no longer reported in 2025 (was €5,160)
- Trade debts -€2,627
down €2,627 (-10.6%), from €24,751 to €22,124
- Other operating charges +€15,174
up €15,174 (+2690.4%), from €564 to €15,738
- Depreciation -€5,681
down €5,681 (-68.2%), from €8,334 to €2,654
- Gross operating margin -€4,484
down €4,484 (-7.4%), from €60,278 to €55,794
- Taxes +€3,647
up €3,647 (+70.5%), from €5,174 to €8,821
- Financial income +€2,483
up €2,483 (+71.0%), from €3,498 to €5,981
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 | €124,187 | €173,607 | +€49,421 | +39.8% |
| Fixed assets | 21/28 | €19,165 | €33,361 | +€14,196 | +74.1% |
| Tangible fixed assets | 22/27 | €19,165 | €33,361 | +€14,196 | +74.1% |
| Plant, machinery and equipment | 23 | €803 | €236 | -€567 | -70.6% |
| Furniture and vehicles | 24 | €18,362 | €535 | -€17,827 | -97.1% |
| Leasing and similar rights | 25 | - | €32,590 | +€32,590 | |
| Current assets | 29/58 | €105,021 | €140,246 | +€35,225 | +33.5% |
| Amounts receivable within one year | 40/41 | €100,337 | €139,011 | +€38,674 | +38.5% |
| Trade receivables | 40 | €26,879 | €28,353 | +€1,474 | +5.5% |
| Other amounts receivable | 41 | €73,459 | €110,659 | +€37,200 | +50.6% |
| Cash at bank and in hand | 54/58 | €4,371 | €793 | -€3,578 | -81.9% |
| Deferred charges and accrued income | 490/1 | €313 | €442 | +€128 | +40.9% |
| Total equity and liabilities | 10/49 | €124,187 | €173,607 | +€49,421 | +39.8% |
| Equity | 10/15 | €48,029 | €80,872 | +€32,844 | +68.4% |
| Profit (loss) carried forward | 14 | €48,029 | €80,872 | +€32,844 | +68.4% |
| Amounts payable | 17/49 | €76,158 | €92,735 | +€16,577 | +21.8% |
| Amounts payable after more than one year | 17 | €972 | €22,479 | +€21,507 | +2212.6% |
| Financial debts | 170/4 | €972 | €22,479 | +€21,507 | +2212.6% |
| Amounts payable within one year | 42/48 | €70,026 | €70,256 | +€231 | +0.3% |
| Current portion of amounts payable after more than one year | 42 | €5,377 | €6,637 | +€1,260 | +23.4% |
| Trade debts | 44 | €24,751 | €22,124 | -€2,627 | -10.6% |
| Suppliers | 440/4 | €24,751 | €22,124 | -€2,627 | -10.6% |
| Taxes, remuneration and social security | 45 | €12,398 | €13,996 | +€1,598 | +12.9% |
| Taxes | 450/3 | €12,398 | €13,996 | +€1,598 | +12.9% |
| Other amounts payable | 47/48 | €27,500 | €27,500 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €5,160 | - | -€5,160 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,334 | €2,654 | -€5,681 | -68.2% |
| Other operating charges | 640/8 | €564 | €15,738 | +€15,174 | +2690.4% |
| Gross operating margin | 9900 | €60,278 | €55,794 | -€4,484 | -7.4% |
| Operating profit (loss) | 9901 | €51,380 | €37,403 | -€13,977 | -27.2% |
| Financial income | 75/76B | €3,498 | €5,981 | +€2,483 | +71.0% |
| Recurring financial income | 75 | €3,498 | €5,981 | +€2,483 | +71.0% |
| Financial charges | 65/66B | €2,710 | €1,719 | -€991 | -36.6% |
| Recurring financial charges | 65 | €2,710 | €1,719 | -€991 | -36.6% |
| Profit (loss) for the period before taxes | 9903 | €52,168 | €41,665 | -€10,503 | -20.1% |
| Income taxes | 67/77 | €5,174 | €8,821 | +€3,647 | +70.5% |
| Profit (loss) for the period | 9904 | €46,993 | €32,844 | -€14,150 | -30.1% |
| Profit (loss) for the period to be appropriated | 9905 | €46,993 | €32,844 | -€14,150 | -30.1% |
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 12 October 2026 via checked.be.