LIBAERS GERT: 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.
LIBAERS GERT
Largest movements
- Current investments +€48,000
up €48,000 (+23.8%), from €202,000 to €250,000
- Cash +€24,166
up €24,166 (+21.2%), from €114,129 to €138,296
mainly Net result for the year (+€68,782) and Depreciation (+€11,782)
- Tangible fixed assets -€11,782
down €11,782 (-21.0%), from €56,151 to €44,369
of which Furniture and vehicles: -€11,175
- Receivables within one year +€8,402
up €8,402 (+20.9%), from €40,132 to €48,534
of which Other amounts receivable: +€14,691
- Reserves +€68,750
up €68,750 (+17.3%), from €398,100 to €466,850
- Gross operating margin -€42,709
down €42,709 (-30.0%), from €142,150 to €99,442
- Taxes -€14,671
down €14,671 (-35.9%), from €40,817 to €26,146
- Depreciation +€9,470
up €9,470 (+409.6%), from €2,312 to €11,782
- Financial income +€5,172
up €5,172 (+150.0%), from €3,448 to €8,620
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 | €413,673 | €482,478 | +€68,805 | +16.6% |
| Fixed assets | 21/28 | €56,151 | €44,369 | -€11,782 | -21.0% |
| Tangible fixed assets | 22/27 | €56,151 | €44,369 | -€11,782 | -21.0% |
| Land and buildings | 22 | €426 | €225 | -€201 | -47.2% |
| Plant, machinery and equipment | 23 | €1,954 | €1,548 | -€406 | -20.8% |
| Furniture and vehicles | 24 | €53,770 | €42,596 | -€11,175 | -20.8% |
| Current assets | 29/58 | €357,522 | €438,109 | +€80,587 | +22.5% |
| Amounts receivable within one year | 40/41 | €40,132 | €48,534 | +€8,402 | +20.9% |
| Trade receivables | 40 | €39,197 | €32,908 | -€6,289 | -16.0% |
| Other amounts receivable | 41 | €935 | €15,626 | +€14,691 | +1570.9% |
| Current investments | 50/53 | €202,000 | €250,000 | +€48,000 | +23.8% |
| Cash at bank and in hand | 54/58 | €114,129 | €138,296 | +€24,166 | +21.2% |
| Deferred charges and accrued income | 490/1 | €1,261 | €1,280 | +€19 | +1.5% |
| Total equity and liabilities | 10/49 | €413,673 | €482,478 | +€68,805 | +16.6% |
| Equity | 10/15 | €404,278 | €473,060 | +€68,782 | +17.0% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €398,100 | €466,850 | +€68,750 | +17.3% |
| Distributable reserves | 133 | €398,100 | €466,850 | +€68,750 | +17.3% |
| Profit (loss) carried forward | 14 | €178 | €210 | +€32 | +18.1% |
| Amounts payable | 17/49 | €9,395 | €9,418 | +€23 | +0.2% |
| Amounts payable within one year | 42/48 | €9,395 | €9,418 | +€23 | +0.2% |
| Trade debts | 44 | €838 | €728 | -€110 | -13.1% |
| Suppliers | 440/4 | €838 | €728 | -€110 | -13.1% |
| Taxes, remuneration and social security | 45 | €8,557 | €8,689 | +€132 | +1.5% |
| Taxes | 450/3 | €8,557 | €8,689 | +€132 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,312 | €11,782 | +€9,470 | +409.6% |
| Other operating charges | 640/8 | €704 | €1,115 | +€410 | +58.2% |
| Gross operating margin | 9900 | €142,150 | €99,442 | -€42,709 | -30.0% |
| Operating profit (loss) | 9901 | €139,134 | €86,545 | -€52,589 | -37.8% |
| Financial income | 75/76B | €3,448 | €8,620 | +€5,172 | +150.0% |
| Recurring financial income | 75 | €3,448 | €8,620 | +€5,172 | +150.0% |
| Financial charges | 65/66B | €352 | €237 | -€115 | -32.6% |
| Recurring financial charges | 65 | €352 | €237 | -€115 | -32.6% |
| Profit (loss) for the period before taxes | 9903 | €142,230 | €94,928 | -€47,302 | -33.3% |
| Income taxes | 67/77 | €40,817 | €26,146 | -€14,671 | -35.9% |
| Profit (loss) for the period | 9904 | €101,413 | €68,782 | -€32,631 | -32.2% |
| Profit (loss) for the period to be appropriated | 9905 | €101,413 | €68,782 | -€32,631 | -32.2% |
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 8 October 2026 via checked.be.