LIBELLEA: 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.
LIBELLEA
Largest movements
- Current investments +€50,270
new in 2025: €50,270
- Cash -€24,355
down €24,355 (-48.9%), from €49,791 to €25,436
mainly Contributions, distributions and other (-€98,704) and Current investments (-€50,270)
- Intangible fixed assets +€11,101
up €11,101 (+181%), from €6,141 to €17,243
- Stocks and contracts +€10,031
up €10,031 (+40.3%), from €24,861 to €34,893
- Receivables within one year -€5,421
down €5,421 (-78.3%), from €6,927 to €1,506
of which Other amounts receivable: -€4,916
- Other debts +€97,751
up €97,751 (+1,227%), from €7,967 to €105,718
- Profit (loss) carried forward -€65,398
down €65,398 (-99.9%), from €65,452 to €54
- Investment grants +€7,196
up €7,196 (+108%), from €6,640 to €13,835
- Tax, wage and social debts +€4,355
up €4,355 (+31.8%), from €13,683 to €18,038
- Gross operating margin +€13,887
up €13,887 (+33.5%), from €41,431 to €55,318
- Taxes +€6,701
up €6,701 (+206%), from €3,261 to €9,962
- Depreciation +€3,209
up €3,209 (+79.8%), from €4,019 to €7,229
- Financial income +€1,877
up €1,877 (+124%), from €1,508 to €3,385
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 | €103,594 | €146,480 | +€42,886 | +41.4% |
| Fixed assets | 21/28 | €18,496 | €28,887 | +€10,391 | +56.2% |
| Intangible fixed assets | 21 | €6,141 | €17,243 | +€11,101 | +181% |
| Tangible fixed assets | 22/27 | €10,704 | €9,994 | -€710 | -6.6% |
| Furniture and vehicles | 24 | €3,105 | €2,732 | -€373 | -12.0% |
| Other tangible fixed assets | 26 | €7,599 | €7,262 | -€337 | -4.4% |
| Financial fixed assets | 28 | €1,650 | €1,650 | = | 0.0% |
| Current assets | 29/58 | €85,098 | €117,593 | +€32,495 | +38.2% |
| Stocks and contracts in progress | 3 | €24,861 | €34,893 | +€10,031 | +40.3% |
| Stocks | 30/36 | €24,861 | €34,893 | +€10,031 | +40.3% |
| Amounts receivable within one year | 40/41 | €6,927 | €1,506 | -€5,421 | -78.3% |
| Trade receivables | 40 | €1,998 | €1,493 | -€505 | -25.3% |
| Other amounts receivable | 41 | €4,930 | €14 | -€4,916 | -99.7% |
| Current investments | 50/53 | - | €50,270 | +€50,270 | |
| Cash at bank and in hand | 54/58 | €49,791 | €25,436 | -€24,355 | -48.9% |
| Deferred charges and accrued income | 490/1 | €3,519 | €5,488 | +€1,969 | +56.0% |
| Total equity and liabilities | 10/49 | €103,594 | €146,480 | +€42,886 | +41.4% |
| Equity | 10/15 | €75,091 | €16,890 | -€58,202 | -77.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €65,452 | €54 | -€65,398 | -99.9% |
| Investment grants | 15 | €6,640 | €13,835 | +€7,196 | +108% |
| Amounts payable | 17/49 | €28,503 | €129,591 | +€101,088 | +355% |
| Amounts payable within one year | 42/48 | €28,401 | €129,591 | +€101,190 | +356% |
| Trade debts | 44 | €6,751 | €5,835 | -€917 | -13.6% |
| Suppliers | 440/4 | €6,751 | €5,835 | -€917 | -13.6% |
| Taxes, remuneration and social security | 45 | €13,683 | €18,038 | +€4,355 | +31.8% |
| Taxes | 450/3 | €13,683 | €18,038 | +€4,355 | +31.8% |
| Other amounts payable | 47/48 | €7,967 | €105,718 | +€97,751 | +1,227% |
| Accrued charges and deferred income | 492/3 | €102 | - | -€102 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,019 | €7,229 | +€3,209 | +79.8% |
| Other operating charges | 640/8 | €484 | €700 | +€216 | +44.7% |
| Gross operating margin | 9900 | €41,431 | €55,318 | +€13,887 | +33.5% |
| Operating profit (loss) | 9901 | €36,928 | €47,389 | +€10,461 | +28.3% |
| Financial income | 75/76B | €1,508 | €3,385 | +€1,877 | +124% |
| Recurring financial income | 75 | €1,508 | €3,385 | +€1,877 | +124% |
| Financial charges | 65/66B | €163 | €310 | +€147 | +90.4% |
| Recurring financial charges | 65 | €163 | €310 | +€147 | +90.4% |
| Profit (loss) for the period before taxes | 9903 | €38,274 | €50,464 | +€12,191 | +31.9% |
| Income taxes | 67/77 | €3,261 | €9,962 | +€6,701 | +206% |
| Profit (loss) for the period | 9904 | €35,013 | €40,502 | +€5,489 | +15.7% |
| Profit (loss) for the period to be appropriated | 9905 | €35,013 | €40,502 | +€5,489 | +15.7% |
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.