LIANTHAN: 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.
LIANTHAN
Largest movements
- Cash -€34,744
down €34,744 (-22.5%), from €154,744 to €120,000
mainly Debts after one year (-€246,089) and Other debts (-€32,658)
- Tangible fixed assets -€33,441
down €33,441 (-2.9%), from €1.2m to €1.1m
of which Land and buildings: -€30,685
- Receivables within one year +€31,550
up €31,550, from €0 to €31,550
of which Trade receivables: +€30,000
- Debts after one year -€246,089
down €246,089 (-33.8%), from €729,116 to €483,027
- Current portion of long-term debt +€209,112
up €209,112 (+566%), from €36,977 to €246,089
- Profit (loss) carried forward +€48,839
up €48,839 (+20.4%), from -€239,184 to -€190,344
- Other debts -€32,658
down €32,658 (-4.3%), from €759,876 to €727,218
- Tax, wage and social debts -€19,085
down €19,085 (-98.2%), from €19,429 to €344
- Gross operating margin +€92,176
up €92,176 (+604%), from €15,261 to €107,437
- Financial charges -€58,903
down €58,903 (-75.8%), from €77,706 to €18,802
- Other operating charges -€2,031
down €2,031 (-31.2%), from €6,516 to €4,485
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 | €1,325,555 | €1,289,961 | -€35,595 | -2.7% |
| Formation expenses | 20 | €157 | €0 | -€157 | -100% |
| Fixed assets | 21/28 | €1,170,654 | €1,137,213 | -€33,441 | -2.9% |
| Tangible fixed assets | 22/27 | €1,170,404 | €1,136,963 | -€33,441 | -2.9% |
| Land and buildings | 22 | €1,155,003 | €1,124,317 | -€30,685 | -2.7% |
| Plant, machinery and equipment | 23 | €7,423 | €6,547 | -€877 | -11.8% |
| Furniture and vehicles | 24 | €7,978 | €6,099 | -€1,879 | -23.6% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €154,744 | €152,748 | -€1,997 | -1.3% |
| Amounts receivable within one year | 40/41 | €0 | €31,550 | +€31,550 | |
| Trade receivables | 40 | €0 | €30,000 | +€30,000 | |
| Other amounts receivable | 41 | €0 | €1,550 | +€1,550 | |
| Cash at bank and in hand | 54/58 | €154,744 | €120,000 | -€34,744 | -22.5% |
| Deferred charges and accrued income | 490/1 | €0 | €1,198 | +€1,198 | |
| Total equity and liabilities | 10/49 | €1,325,555 | €1,289,961 | -€35,595 | -2.7% |
| Equity | 10/15 | -€221,364 | -€172,524 | +€48,839 | +22.1% |
| Contributions | 10/11 | €16,200 | €16,200 | = | 0.0% |
| Reserves | 13 | €1,620 | €1,620 | = | 0.0% |
| Distributable reserves | 133 | €1,620 | €1,620 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€239,184 | -€190,344 | +€48,839 | +20.4% |
| Amounts payable | 17/49 | €1,546,919 | €1,462,485 | -€84,434 | -5.5% |
| Amounts payable after more than one year | 17 | €729,116 | €483,027 | -€246,089 | -33.8% |
| Financial debts | 170/4 | €729,116 | €483,027 | -€246,089 | -33.8% |
| Amounts payable within one year | 42/48 | €817,803 | €978,459 | +€160,656 | +19.6% |
| Current portion of amounts payable after more than one year | 42 | €36,977 | €246,089 | +€209,112 | +566% |
| Trade debts | 44 | €1,521 | €4,808 | +€3,287 | +216% |
| Suppliers | 440/4 | €1,521 | €4,808 | +€3,287 | +216% |
| Taxes, remuneration and social security | 45 | €19,429 | €344 | -€19,085 | -98.2% |
| Taxes | 450/3 | €19,429 | €344 | -€19,085 | -98.2% |
| Other amounts payable | 47/48 | €759,876 | €727,218 | -€32,658 | -4.3% |
| Accrued charges and deferred income | 492/3 | - | €998 | +€998 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,281 | €35,310 | +€29 | +0.1% |
| Other operating charges | 640/8 | €6,516 | €4,485 | -€2,031 | -31.2% |
| Gross operating margin | 9900 | €15,261 | €107,437 | +€92,176 | +604% |
| Operating profit (loss) | 9901 | -€26,537 | €67,642 | +€94,178 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €77,706 | €18,802 | -€58,903 | -75.8% |
| Recurring financial charges | 65 | €77,706 | €18,802 | -€58,903 | -75.8% |
| Profit (loss) for the period before taxes | 9903 | -€104,242 | €48,839 | +€153,082 | |
| Profit (loss) for the period | 9904 | -€104,242 | €48,839 | +€153,082 | |
| Profit (loss) for the period to be appropriated | 9905 | -€104,242 | €48,839 | +€153,082 |
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 15 October 2026 via checked.be.