LIBEERT: 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.
What changed
LIBEERT
NACE 10.820, Manufacture of cocoa, chocolate and sugar confectionery
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€4.1m
2024 · €3.8m+€338,284
Equity
€14.6m
2024 · €10.8m+€3.9m
Cash
€248,790
2024 · €4.0m-€3.8m
Balance sheet total
€37.0m
2024 · €23.0m+€14.0m
Largest movements
Assets
- Receivables within one year +€9.4m
up €9.4m (+211.0%), from €4.4m to €13.8m
of which Trade receivables: +€7.0m
- Current investments +€7.8m
new in 2025: €7.8m
- Cash -€3.8m
down €3.8m (-93.8%), from €4.0m to €248,790
mainly Receivables within one year (-€9.4m) and Current investments (-€7.8m)
- Tangible fixed assets +€478,396
up €478,396 (+5.1%), from €9.5m to €9.9m
of which Assets under construction and advance payments: +€953,437
Equity and liabilities
- Trade debts +€11.1m
up €11.1m (+253.7%), from €4.4m to €15.5m
- Reserves +€4.0m
up €4.0m (+48.3%), from €8.2m to €12.2m
of which Distributable reserves: +€4.0m
- Debts after one year -€468,539
down €468,539 (-14.6%), from €3.2m to €2.7m
Income statement
- Turnover +€14.9m
up €14.9m (+29.5%), from €50.4m to €65.3m
- Goods and materials +€9.1m
up €9.1m (+33.9%), from €26.9m to €36.0m
of which Purchases: +€10.1m
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.
Result 2024
€3.8m
Turnover
+€14.9m
Other operating income
-€646,726
Goods and materials
-€9.1m
Services and other goods
-€214,791
Staff costs
+€174,194
Depreciation
-€21,489
Write-downs
+€646,487
Other operating charges
-€3,203
Other operating items
-€5.2m
Financial income
+€70,742
Financial charges
+€14,836
Taxes
-€190,024
Result 2025
€4.1m
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.
From operations
+€7.2m
Investment
-€10.0m
Financing
-€999,989
Cash 2024
€4.0m
From operations (derived)
+€7.2m
Net result for the year
+€4.1m
Depreciation
+€1.7m
Stocks and contracts
-€32,761
Receivables within one year
-€9.4m
Deferred charges and accrued income
-€87,914
Provisions
-€22,434
Trade debts
+€11.1m
Tax, wage and social debts
-€116,574
Other debts
-€225,697
Accrued charges and deferred income
+€139,129
Investment (derived)
-€10.0m
Investment in fixed assets (net)
-€2.2m
Current investments
-€7.8m
Financing
-€999,989
Debts after one year
-€468,539
Current portion of long-term debt
+€15,547
Short-term financial debts
-€292,090
Contributions, distributions and other
-€254,908
Cash 2025
€248,790
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €22,979,534 | €37,019,434 | +€14.0m | +61.1% |
| Fixed assets | 21/28 | €9,464,238 | €9,933,438 | +€469,200 | +5.0% |
| Tangible fixed assets | 22/27 | €9,450,436 | €9,928,832 | +€478,396 | +5.1% |
| Land and buildings | 22 | €2,229,378 | €2,399,515 | +€170,137 | +7.6% |
| Plant, machinery and equipment | 23 | €3,904,061 | €3,664,258 | -€239,803 | -6.1% |
| Furniture and vehicles | 24 | €76,478 | €64,396 | -€12,083 | -15.8% |
| Leasing and similar rights | 25 | €3,236,283 | €2,842,991 | -€393,293 | -12.2% |
| Assets under construction and advance payments | 27 | €4,236 | €957,673 | +€953,437 | +22507.2% |
| Financial fixed assets | 28 | €13,801 | €4,605 | -€9,196 | -66.6% |
| Other financial fixed assets | 284/8 | €13,801 | €4,605 | -€9,196 | -66.6% |
| Amounts receivable and cash guarantees | 285/8 | €13,801 | €4,605 | -€9,196 | -66.6% |
| Current assets | 29/58 | €13,515,297 | €27,085,996 | +€13.6m | +100.4% |
| Stocks and contracts in progress | 3 | €4,942,574 | €4,975,335 | +€32,761 | +0.7% |
| Stocks | 30/36 | €4,942,574 | €4,975,335 | +€32,761 | +0.7% |
| Raw materials and consumables | 30/31 | €1,506,413 | €2,757,565 | +€1.3m | +83.1% |
| Finished goods | 33 | €3,285,345 | €2,013,914 | -€1.3m | -38.7% |
| Goods purchased for resale | 34 | €150,817 | €203,856 | +€53,040 | +35.2% |
| Amounts receivable within one year | 40/41 | €4,449,433 | €13,836,952 | +€9.4m | +211.0% |
| Trade receivables | 40 | €3,376,288 | €10,356,538 | +€7.0m | +206.7% |
| Other amounts receivable | 41 | €1,073,145 | €3,480,414 | +€2.4m | +224.3% |
| Current investments | 50/53 | - | €7,831,476 | +€7.8m | |
| Other investments | 51/53 | - | €7,831,476 | +€7.8m | |
| Cash at bank and in hand | 54/58 | €4,017,760 | €248,790 | -€3.8m | -93.8% |
| Deferred charges and accrued income | 490/1 | €105,530 | €193,444 | +€87,914 | +83.3% |
| Total equity and liabilities | 10/49 | €22,979,534 | €37,019,434 | +€14.0m | +61.1% |
| Equity | 10/15 | €10,780,463 | €14,647,459 | +€3.9m | +35.9% |
| Contributions | 10/11 | €1,792,593 | €1,792,593 | = | 0.0% |
| Capital | 10 | €1,790,000 | €1,790,000 | = | 0.0% |
| Issued capital | 100 | €1,790,000 | €1,790,000 | = | 0.0% |
| Outside capital | 11 | €2,593 | €2,593 | = | 0.0% |
| Share premium | 1100/10 | €2,593 | €2,593 | = | 0.0% |
| Reserves | 13 | €8,231,081 | €12,202,985 | +€4.0m | +48.3% |
| Non-distributable reserves | 130/1 | €179,000 | €179,000 | = | 0.0% |
| Legal reserve | 130 | €179,000 | €179,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,471,170 | €2,477,669 | +€6,498 | +0.3% |
| Distributable reserves | 133 | €5,580,911 | €9,546,316 | +€4.0m | +71.1% |
| Investment grants | 15 | €756,788 | €651,880 | -€104,908 | -13.9% |
| Provisions and deferred taxes | 16 | €198,832 | €176,398 | -€22,434 | -11.3% |
| Deferred taxes | 168 | €198,832 | €176,398 | -€22,434 | -11.3% |
| Amounts payable | 17/49 | €12,000,239 | €22,195,577 | +€10.2m | +85.0% |
| Amounts payable after more than one year | 17 | €3,215,359 | €2,746,820 | -€468,539 | -14.6% |
| Financial debts | 170/4 | €3,215,359 | €2,746,820 | -€468,539 | -14.6% |
| Subordinated loans | 170 | €214,286 | €71,429 | -€142,857 | -66.7% |
| Leasing and similar obligations | 172 | €1,776,458 | €1,326,789 | -€449,669 | -25.3% |
| Credit institutions | 173 | €1,224,616 | €1,348,603 | +€123,987 | +10.1% |
| Amounts payable within one year | 42/48 | €7,329,138 | €17,853,886 | +€10.5m | +143.6% |
| Current portion of amounts payable after more than one year | 42 | €912,573 | €928,121 | +€15,547 | +1.7% |
| Financial debts | 43 | €375,811 | €83,721 | -€292,090 | -77.7% |
| Credit institutions | 430/8 | €375,811 | €83,721 | -€292,090 | -77.7% |
| Trade debts | 44 | €4,392,584 | €15,536,145 | +€11.1m | +253.7% |
| Suppliers | 440/4 | €4,392,584 | €15,536,145 | +€11.1m | +253.7% |
| Taxes, remuneration and social security | 45 | €1,260,641 | €1,144,068 | -€116,574 | -9.2% |
| Taxes | 450/3 | €206,838 | €87,659 | -€119,179 | -57.6% |
| Remuneration and social security | 454/9 | €1,053,804 | €1,056,409 | +€2,605 | +0.2% |
| Other amounts payable | 47/48 | €387,529 | €161,832 | -€225,697 | -58.2% |
| Accrued charges and deferred income | 492/3 | €1,455,741 | €1,594,870 | +€139,129 | +9.6% |
| Operating income | 70/76A | €52,955,422 | €65,505,397 | +€12.5m | +23.7% |
| Turnover | 70 | €50,448,179 | €65,311,497 | +€14.9m | +29.5% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €1,570,309 | -€1,446,308 | -€3.0m | |
| Other operating income | 74 | €936,934 | €290,208 | -€646,726 | -69.0% |
| Non-recurring operating income | 76A | - | €1,350,000 | +€1.4m | |
| Operating charges | 60/66A | €48,242,517 | €60,349,761 | +€12.1m | +25.1% |
| Goods for resale, raw materials and consumables | 60 | €26,874,701 | €35,983,056 | +€9.1m | +33.9% |
| Purchases | 600/8 | €27,064,111 | €37,194,191 | +€10.1m | +37.4% |
| Change in stocks: decrease (increase) | 609 | -€189,409 | -€1,211,136 | -€1.0m | -539.4% |
| Services and other goods | 61 | €10,023,727 | €10,238,518 | +€214,791 | +2.1% |
| Remuneration, social security and pensions | 62 | €8,931,683 | €8,757,489 | -€174,194 | -2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,695,244 | €1,716,733 | +€21,489 | +1.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €378,554 | -€267,933 | -€646,487 | |
| Other operating charges | 640/8 | €103,329 | €106,532 | +€3,203 | +3.1% |
| Non-recurring operating charges | 66A | €235,278 | €3,815,366 | +€3.6m | +1521.6% |
| Operating profit (loss) | 9901 | €4,712,905 | €5,155,636 | +€442,731 | +9.4% |
| Financial income | 75/76B | €283,377 | €354,118 | +€70,742 | +25.0% |
| Recurring financial income | 75 | €283,377 | €354,118 | +€70,742 | +25.0% |
| Income from current assets | 751 | €117,233 | €124,322 | +€7,090 | +6.0% |
| Other financial income | 752/9 | €166,144 | €229,796 | +€63,652 | +38.3% |
| Financial charges | 65/66B | €449,752 | €434,917 | -€14,836 | -3.3% |
| Recurring financial charges | 65 | €449,752 | €434,917 | -€14,836 | -3.3% |
| Debt charges | 650 | €275,923 | €218,787 | -€57,135 | -20.7% |
| Other financial charges | 652/9 | €173,829 | €216,129 | +€42,300 | +24.3% |
| Profit (loss) for the period before taxes | 9903 | €4,546,529 | €5,074,838 | +€528,309 | +11.6% |
| Transfer from deferred taxes | 780 | €22,434 | €22,434 | = | 0.0% |
| Income taxes | 67/77 | €785,344 | €975,368 | +€190,024 | +24.2% |
| Taxes | 670/3 | €807,512 | €1,038,061 | +€230,549 | +28.6% |
| Tax adjustments and reversals of tax provisions | 77 | €22,168 | €62,693 | +€40,525 | +182.8% |
| Profit (loss) for the period | 9904 | €3,783,619 | €4,121,904 | +€338,284 | +8.9% |
| Transfer from tax-exempt reserves | 789 | €67,302 | €993,502 | +€926,200 | +1376.2% |
| Transfer to tax-exempt reserves | 689 | €999,997 | €1,000,000 | +€3 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,850,924 | €4,115,406 | +€1.3m | +44.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.