LIAUR: 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.
LIAUR
Largest movements
- Cash -€20,055
down €20,055 (-70.6%), from €28,417 to €8,362
mainly Investment in fixed assets (net) (-€16,364) and Trade debts (-€16,158)
- Stocks and contracts -€16,800
down €16,800 (-27.3%), from €61,519 to €44,720
- Receivables within one year +€9,402
up €9,402 (+15.1%), from €62,143 to €71,546
of which Other amounts receivable: +€10,188
- Tangible fixed assets -€7,012
down €7,012 (-9.5%), from €73,873 to €66,861
of which Furniture and vehicles: -€8,628
- Trade debts -€16,158
down €16,158 (-36.4%), from €44,407 to €28,249
- Debts after one year -€12,239
down €12,239 (-31.6%), from €38,737 to €26,499
- Tax, wage and social debts -€8,535
down €8,535 (-24.0%), from €35,537 to €27,001
of which Taxes: -€5,532
- Profit (loss) carried forward +€2,562
up €2,562 (+212.1%), from €1,208 to €3,771
- Gross operating margin -€10,082
down €10,082 (-6.4%), from €158,635 to €148,553
- Taxes -€4,985
down €4,985 (-60.3%), from €8,272 to €3,287
- Depreciation +€2,960
up €2,960 (+14.5%), from €20,416 to €23,376
- Staff costs +€2,611
up €2,611 (+2.4%), from €109,759 to €112,370
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 | €227,700 | €193,206 | -€34,494 | -15.1% |
| Fixed assets | 21/28 | €74,013 | €67,001 | -€7,012 | -9.5% |
| Tangible fixed assets | 22/27 | €73,873 | €66,861 | -€7,012 | -9.5% |
| Land and buildings | 22 | €20,857 | €27,806 | +€6,949 | +33.3% |
| Plant, machinery and equipment | 23 | €9,764 | €7,748 | -€2,016 | -20.6% |
| Furniture and vehicles | 24 | €39,934 | €31,306 | -€8,628 | -21.6% |
| Leasing and similar rights | 25 | €3,318 | - | -€3,318 | |
| Financial fixed assets | 28 | €140 | €140 | = | 0.0% |
| Current assets | 29/58 | €153,688 | €126,206 | -€27,482 | -17.9% |
| Stocks and contracts in progress | 3 | €61,519 | €44,720 | -€16,800 | -27.3% |
| Stocks | 30/36 | €61,519 | €44,720 | -€16,800 | -27.3% |
| Amounts receivable within one year | 40/41 | €62,143 | €71,546 | +€9,402 | +15.1% |
| Trade receivables | 40 | €6,530 | €5,744 | -€786 | -12.0% |
| Other amounts receivable | 41 | €55,613 | €65,801 | +€10,188 | +18.3% |
| Cash at bank and in hand | 54/58 | €28,417 | €8,362 | -€20,055 | -70.6% |
| Deferred charges and accrued income | 490/1 | €1,608 | €1,579 | -€30 | -1.8% |
| Total equity and liabilities | 10/49 | €227,700 | €193,206 | -€34,494 | -15.1% |
| Equity | 10/15 | €84,748 | €87,311 | +€2,562 | +3.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €64,940 | €64,940 | = | 0.0% |
| Distributable reserves | 133 | €64,940 | €64,940 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,208 | €3,771 | +€2,562 | +212.1% |
| Amounts payable | 17/49 | €142,952 | €105,895 | -€37,057 | -25.9% |
| Amounts payable after more than one year | 17 | €38,737 | €26,499 | -€12,239 | -31.6% |
| Financial debts | 170/4 | €38,737 | €26,499 | -€12,239 | -31.6% |
| Amounts payable within one year | 42/48 | €103,109 | €79,151 | -€23,958 | -23.2% |
| Current portion of amounts payable after more than one year | 42 | €22,060 | €22,837 | +€777 | +3.5% |
| Trade debts | 44 | €44,407 | €28,249 | -€16,158 | -36.4% |
| Suppliers | 440/4 | €44,407 | €28,249 | -€16,158 | -36.4% |
| Taxes, remuneration and social security | 45 | €35,537 | €27,001 | -€8,535 | -24.0% |
| Taxes | 450/3 | €24,938 | €19,405 | -€5,532 | -22.2% |
| Remuneration and social security | 454/9 | €10,599 | €7,596 | -€3,003 | -28.3% |
| Other amounts payable | 47/48 | €1,106 | €1,064 | -€41 | -3.7% |
| Accrued charges and deferred income | 492/3 | €1,106 | €245 | -€860 | -77.8% |
| Non-recurring operating income | 76A | €7,672 | - | -€7,672 | |
| Remuneration, social security and pensions | 62 | €109,759 | €112,370 | +€2,611 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,416 | €23,376 | +€2,960 | +14.5% |
| Other operating charges | 640/8 | €936 | €874 | -€61 | -6.6% |
| Gross operating margin | 9900 | €158,635 | €148,553 | -€10,082 | -6.4% |
| Operating profit (loss) | 9901 | €27,524 | €11,933 | -€15,592 | -56.6% |
| Financial income | 75/76B | €5 | €39 | +€34 | +632.1% |
| Recurring financial income | 75 | €5 | €39 | +€34 | +632.1% |
| Financial charges | 65/66B | €4,937 | €6,122 | +€1,185 | +24.0% |
| Recurring financial charges | 65 | €4,937 | €6,122 | +€1,185 | +24.0% |
| Profit (loss) for the period before taxes | 9903 | €22,592 | €5,850 | -€16,743 | -74.1% |
| Income taxes | 67/77 | €8,272 | €3,287 | -€4,985 | -60.3% |
| Profit (loss) for the period | 9904 | €14,320 | €2,562 | -€11,758 | -82.1% |
| Profit (loss) for the period to be appropriated | 9905 | €14,320 | €2,562 | -€11,758 | -82.1% |
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 5 October 2026 via checked.be.