LIBAGE: 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.
LIBAGE
Largest movements
- Cash +€74,625
up €74,625 (+27.0%), from €276,683 to €351,308
mainly Net result for the year (+€104,753) and Depreciation (+€47,932)
- Tangible fixed assets -€27,932
down €27,932 (-5.9%), from €470,667 to €442,736
of which Land and buildings: -€20,137
- Intangible fixed assets -€20,000
down €20,000 (-28.6%), from €69,808 to €49,808
- Receivables after one year -€19,578
no longer reported in 2025 (was €19,578)
- Receivables within one year +€9,330
up €9,330 (+15.2%), from €61,438 to €70,767
of which Other amounts receivable: +€9,330
- Profit (loss) carried forward +€24,753
up €24,753 (+1,822%), from €1,359 to €26,112
- Reserves +€22,000
up €22,000 (+3.4%), from €650,000 to €672,000
- Debts after one year -€17,953
down €17,953 (-11.1%), from €161,504 to €143,551
- Current portion of long-term debt -€15,090
down €15,090 (-45.7%), from €33,043 to €17,953
- Financial income +€125,722
up €125,722 (+1,752%), from €7,175 to €132,897
- Gross operating margin -€95,516
down €95,516 (-48.8%), from €195,864 to €100,348
- Taxes -€16,721
down €16,721 (-66.6%), from €25,095 to €8,375
- Staff costs +€8,327
up €8,327 (+15.5%), from €53,658 to €61,986
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 | €902,662 | €923,718 | +€21,057 | +2.3% |
| Fixed assets | 21/28 | €541,676 | €493,444 | -€48,232 | -8.9% |
| Intangible fixed assets | 21 | €69,808 | €49,808 | -€20,000 | -28.6% |
| Tangible fixed assets | 22/27 | €470,667 | €442,736 | -€27,932 | -5.9% |
| Land and buildings | 22 | €452,087 | €431,949 | -€20,137 | -4.5% |
| Plant, machinery and equipment | 23 | €8,003 | €5,263 | -€2,740 | -34.2% |
| Furniture and vehicles | 24 | €10,578 | €5,523 | -€5,054 | -47.8% |
| Financial fixed assets | 28 | €1,200 | €900 | -€300 | -25.0% |
| Current assets | 29/58 | €360,986 | €430,275 | +€69,288 | +19.2% |
| Amounts receivable after more than one year | 29 | €19,578 | - | -€19,578 | |
| Other amounts receivable | 291 | €19,578 | - | -€19,578 | |
| Amounts receivable within one year | 40/41 | €61,438 | €70,767 | +€9,330 | +15.2% |
| Trade receivables | 40 | €24,500 | €24,500 | = | 0.0% |
| Other amounts receivable | 41 | €36,938 | €46,267 | +€9,330 | +25.3% |
| Current investments | 50/53 | - | €4,915 | +€4,915 | |
| Cash at bank and in hand | 54/58 | €276,683 | €351,308 | +€74,625 | +27.0% |
| Deferred charges and accrued income | 490/1 | €3,288 | €3,285 | -€3 | -0.1% |
| Total equity and liabilities | 10/49 | €902,662 | €923,718 | +€21,057 | +2.3% |
| Equity | 10/15 | €671,359 | €718,112 | +€46,753 | +7.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €650,000 | €672,000 | +€22,000 | +3.4% |
| Distributable reserves | 133 | €650,000 | €672,000 | +€22,000 | +3.4% |
| Profit (loss) carried forward | 14 | €1,359 | €26,112 | +€24,753 | +1,822% |
| Amounts payable | 17/49 | €231,303 | €205,607 | -€25,697 | -11.1% |
| Amounts payable after more than one year | 17 | €161,504 | €143,551 | -€17,953 | -11.1% |
| Financial debts | 170/4 | €161,504 | €143,551 | -€17,953 | -11.1% |
| Amounts payable within one year | 42/48 | €69,800 | €62,056 | -€7,743 | -11.1% |
| Current portion of amounts payable after more than one year | 42 | €33,043 | €17,953 | -€15,090 | -45.7% |
| Trade debts | 44 | €1,562 | €2,536 | +€975 | +62.4% |
| Suppliers | 440/4 | €1,562 | €2,536 | +€975 | +62.4% |
| Taxes, remuneration and social security | 45 | €24,018 | €33,091 | +€9,073 | +37.8% |
| Taxes | 450/3 | €4,417 | €9,874 | +€5,457 | +124% |
| Remuneration and social security | 454/9 | €19,601 | €23,217 | +€3,616 | +18.4% |
| Other amounts payable | 47/48 | €11,177 | €8,476 | -€2,701 | -24.2% |
| Non-recurring operating income | 76A | €14,000 | €171 | -€13,829 | -98.8% |
| Remuneration, social security and pensions | 62 | €53,658 | €61,986 | +€8,327 | +15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,416 | €47,932 | -€1,484 | -3.0% |
| Other operating charges | 640/8 | €3,018 | €3,337 | +€319 | +10.6% |
| Non-recurring operating charges | 66A | €534 | - | -€534 | |
| Gross operating margin | 9900 | €195,864 | €100,348 | -€95,516 | -48.8% |
| Operating profit (loss) | 9901 | €89,237 | -€12,907 | -€102,144 | |
| Financial income | 75/76B | €7,175 | €132,897 | +€125,722 | +1,752% |
| Recurring financial income | 75 | €7,175 | €132,897 | +€125,722 | +1,752% |
| Financial charges | 65/66B | €8,446 | €6,862 | -€1,584 | -18.7% |
| Recurring financial charges | 65 | €8,446 | €6,862 | -€1,584 | -18.7% |
| Profit (loss) for the period before taxes | 9903 | €87,966 | €113,128 | +€25,162 | +28.6% |
| Income taxes | 67/77 | €25,095 | €8,375 | -€16,721 | -66.6% |
| Profit (loss) for the period | 9904 | €62,871 | €104,753 | +€41,882 | +66.6% |
| Profit (loss) for the period to be appropriated | 9905 | €62,871 | €104,753 | +€41,882 | +66.6% |
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.