LIANG HAO: 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.
LIANG HAO
Largest movements
- Cash -€45,630
down €45,630 (-32.5%), from €140,568 to €94,938
mainly Receivables within one year (-€37,298) and Net result for the year (-€14,850)
- Receivables within one year +€37,298
up €37,298 (+23.1%), from €161,120 to €198,418
of which Other amounts receivable: +€34,897
- Tangible fixed assets -€12,466
down €12,466 (-60.5%), from €20,602 to €8,135
of which Furniture and vehicles: -€8,737
- Profit (loss) carried forward -€14,850
down €14,850 (-244%), from -€6,091 to -€20,940
- Tax, wage and social debts -€6,588
down €6,588 (-26.7%), from €24,686 to €18,098
of which Taxes: -€6,240
- Staff costs +€14,852
up €14,852 (+19.8%), from €74,831 to €89,683
- Gross operating margin -€5,931
down €5,931 (-5.8%), from €102,321 to €96,390
- Depreciation -€4,067
down €4,067 (-24.6%), from €16,533 to €12,466
- Taxes -€1,990
down €1,990 (-63.9%), from €3,114 to €1,123
- Financial charges +€1,201
up €1,201 (+28.5%), from €4,217 to €5,417
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 | €337,450 | €319,015 | -€18,435 | -5.5% |
| Fixed assets | 21/28 | €20,962 | €8,495 | -€12,466 | -59.5% |
| Tangible fixed assets | 22/27 | €20,602 | €8,135 | -€12,466 | -60.5% |
| Plant, machinery and equipment | 23 | €5,615 | €1,886 | -€3,729 | -66.4% |
| Furniture and vehicles | 24 | €14,987 | €6,250 | -€8,737 | -58.3% |
| Financial fixed assets | 28 | €360 | €360 | = | 0.0% |
| Current assets | 29/58 | €316,488 | €310,519 | -€5,969 | -1.9% |
| Stocks and contracts in progress | 3 | €11,527 | €11,908 | +€381 | +3.3% |
| Stocks | 30/36 | €11,527 | €11,908 | +€381 | +3.3% |
| Amounts receivable within one year | 40/41 | €161,120 | €198,418 | +€37,298 | +23.1% |
| Trade receivables | 40 | €54,191 | €56,592 | +€2,401 | +4.4% |
| Other amounts receivable | 41 | €106,929 | €141,826 | +€34,897 | +32.6% |
| Cash at bank and in hand | 54/58 | €140,568 | €94,938 | -€45,630 | -32.5% |
| Deferred charges and accrued income | 490/1 | €3,274 | €5,255 | +€1,982 | +60.5% |
| Total equity and liabilities | 10/49 | €337,450 | €319,015 | -€18,435 | -5.5% |
| Equity | 10/15 | €261,495 | €246,646 | -€14,850 | -5.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €248,986 | €248,986 | = | 0.0% |
| Distributable reserves | 133 | €248,986 | €248,986 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,091 | -€20,940 | -€14,850 | -244% |
| Amounts payable | 17/49 | €75,955 | €72,369 | -€3,586 | -4.7% |
| Amounts payable within one year | 42/48 | €75,955 | €72,369 | -€3,586 | -4.7% |
| Current portion of amounts payable after more than one year | 42 | €354 | - | -€354 | |
| Trade debts | 44 | €50,915 | €54,271 | +€3,356 | +6.6% |
| Suppliers | 440/4 | €50,915 | €54,271 | +€3,356 | +6.6% |
| Taxes, remuneration and social security | 45 | €24,686 | €18,098 | -€6,588 | -26.7% |
| Taxes | 450/3 | €12,243 | €6,003 | -€6,240 | -51.0% |
| Remuneration and social security | 454/9 | €12,443 | €12,095 | -€348 | -2.8% |
| Remuneration, social security and pensions | 62 | €74,831 | €89,683 | +€14,852 | +19.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,533 | €12,466 | -€4,067 | -24.6% |
| Other operating charges | 640/8 | €2,685 | €2,555 | -€129 | -4.8% |
| Gross operating margin | 9900 | €102,321 | €96,390 | -€5,931 | -5.8% |
| Operating profit (loss) | 9901 | €8,272 | -€8,315 | -€16,587 | |
| Financial income | 75/76B | €6 | €6 | +€0 | +0.7% |
| Recurring financial income | 75 | €6 | €6 | +€0 | +0.7% |
| Financial charges | 65/66B | €4,217 | €5,417 | +€1,201 | +28.5% |
| Recurring financial charges | 65 | €4,217 | €5,417 | +€1,201 | +28.5% |
| Profit (loss) for the period before taxes | 9903 | €4,062 | -€13,726 | -€17,788 | |
| Income taxes | 67/77 | €3,114 | €1,123 | -€1,990 | -63.9% |
| Profit (loss) for the period | 9904 | €948 | -€14,850 | -€15,797 | |
| Profit (loss) for the period to be appropriated | 9905 | €948 | -€14,850 | -€15,797 |
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.