LIBEERLAW: 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.
LIBEERLAW
Largest movements
- Cash +€324,474
up €324,474 (+31.6%), from €1.0m to €1.4m
mainly Net result for the year (+€383,595) and Tax, wage and social debts (+€78,507)
- Reserves +€325,679
up €325,679 (+35.3%), from €922,216 to €1.2m
of which Distributable reserves: +€325,679
- Tax, wage and social debts +€78,507
up €78,507 (+242%), from €32,455 to €110,961
of which Taxes: +€78,507
- Other debts -€52,429
down €52,429 (-38.4%), from €136,418 to €83,989
- Trade debts -€28,747
down €28,747 (-94.5%), from €30,407 to €1,660
- Staff costs -€8,945
down €8,945 (-100%), from €8,945 to €0
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 | €1,133,896 | €1,456,905 | +€323,009 | +28.5% |
| Fixed assets | 21/28 | €35,886 | €27,526 | -€8,360 | -23.3% |
| Tangible fixed assets | 22/27 | €35,886 | €27,526 | -€8,360 | -23.3% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €35,886 | €27,526 | -€8,360 | -23.3% |
| Current assets | 29/58 | €1,098,009 | €1,429,379 | +€331,369 | +30.2% |
| Amounts receivable within one year | 40/41 | €64,382 | €76,169 | +€11,787 | +18.3% |
| Trade receivables | 40 | €58,189 | €76,169 | +€17,979 | +30.9% |
| Other amounts receivable | 41 | €6,193 | €0 | -€6,193 | -100% |
| Cash at bank and in hand | 54/58 | €1,026,604 | €1,351,078 | +€324,474 | +31.6% |
| Deferred charges and accrued income | 490/1 | €7,023 | €2,132 | -€4,891 | -69.6% |
| Total equity and liabilities | 10/49 | €1,133,896 | €1,456,905 | +€323,009 | +28.5% |
| Equity | 10/15 | €934,616 | €1,260,295 | +€325,679 | +34.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €922,216 | €1,247,895 | +€325,679 | +35.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €922,216 | €1,247,895 | +€325,679 | +35.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €199,280 | €196,610 | -€2,670 | -1.3% |
| Amounts payable within one year | 42/48 | €199,280 | €196,610 | -€2,670 | -1.3% |
| Trade debts | 44 | €30,407 | €1,660 | -€28,747 | -94.5% |
| Suppliers | 440/4 | €30,407 | €1,660 | -€28,747 | -94.5% |
| Taxes, remuneration and social security | 45 | €32,455 | €110,961 | +€78,507 | +242% |
| Taxes | 450/3 | €32,455 | €110,961 | +€78,507 | +242% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €136,418 | €83,989 | -€52,429 | -38.4% |
| Remuneration, social security and pensions | 62 | €8,945 | €0 | -€8,945 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,589 | €8,360 | +€2,772 | +49.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,890 | €0 | +€2,890 | |
| Other operating charges | 640/8 | €14,829 | €9,800 | -€5,029 | -33.9% |
| Gross operating margin | 9900 | €586,513 | €587,206 | +€692 | +0.1% |
| Operating profit (loss) | 9901 | €560,040 | €569,046 | +€9,005 | +1.6% |
| Financial income | 75/76B | €21 | €0 | -€21 | -100% |
| Recurring financial income | 75 | €21 | €0 | -€21 | -100% |
| Financial charges | 65/66B | €961 | €747 | -€215 | -22.3% |
| Recurring financial charges | 65 | €961 | €747 | -€215 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | €559,101 | €568,299 | +€9,199 | +1.6% |
| Income taxes | 67/77 | €180,455 | €184,704 | +€4,249 | +2.4% |
| Profit (loss) for the period | 9904 | €378,646 | €383,595 | +€4,949 | +1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €378,646 | €383,595 | +€4,949 | +1.3% |
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 31 October 2026 via checked.be.