LIBELLUM: 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.
LIBELLUM
Largest movements
- Cash +€19,039
up €19,039 (+27.5%), from €69,120 to €88,158
mainly Receivables within one year (+€15,254) and Net result for the year (+€11,764)
- Receivables within one year -€15,254
down €15,254 (-37.4%), from €40,740 to €25,486
of which Trade receivables: -€15,260
- Tax, wage and social debts -€12,767
down €12,767 (-72.4%), from €17,623 to €4,856
- Reserves +€11,764
up €11,764 (+14.5%), from €81,231 to €92,995
- Trade debts +€5,817
up €5,817 (+274.0%), from €2,123 to €7,940
- Gross operating margin -€68,111
down €68,111 (-81.3%), from €83,783 to €15,672
- Taxes -€13,620
down €13,620 (-81.9%), from €16,631 to €3,011
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 | €111,041 | €115,855 | +€4,814 | +4.3% |
| Fixed assets | 21/28 | - | €1,029 | +€1,029 | |
| Tangible fixed assets | 22/27 | - | €1,029 | +€1,029 | |
| Furniture and vehicles | 24 | - | €1,029 | +€1,029 | |
| Current assets | 29/58 | €111,041 | €114,826 | +€3,784 | +3.4% |
| Amounts receivable within one year | 40/41 | €40,740 | €25,486 | -€15,254 | -37.4% |
| Trade receivables | 40 | €40,735 | €25,475 | -€15,260 | -37.5% |
| Other amounts receivable | 41 | €5 | €11 | +€6 | +119.5% |
| Cash at bank and in hand | 54/58 | €69,120 | €88,158 | +€19,039 | +27.5% |
| Deferred charges and accrued income | 490/1 | €1,182 | €1,182 | +€0 | 0.0% |
| Total equity and liabilities | 10/49 | €111,041 | €115,855 | +€4,814 | +4.3% |
| Equity | 10/15 | €91,231 | €102,995 | +€11,764 | +12.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €81,231 | €92,995 | +€11,764 | +14.5% |
| Distributable reserves | 133 | €81,231 | €92,995 | +€11,764 | +14.5% |
| Amounts payable | 17/49 | €19,810 | €12,860 | -€6,950 | -35.1% |
| Amounts payable within one year | 42/48 | €19,810 | €12,860 | -€6,950 | -35.1% |
| Trade debts | 44 | €2,123 | €7,940 | +€5,817 | +274.0% |
| Suppliers | 440/4 | €2,123 | €7,940 | +€5,817 | +274.0% |
| Taxes, remuneration and social security | 45 | €17,623 | €4,856 | -€12,767 | -72.4% |
| Taxes | 450/3 | €17,623 | €4,856 | -€12,767 | -72.4% |
| Other amounts payable | 47/48 | €64 | €64 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €193 | +€193 | |
| Other operating charges | 640/8 | €534 | €678 | +€143 | +26.8% |
| Gross operating margin | 9900 | €83,783 | €15,672 | -€68,111 | -81.3% |
| Operating profit (loss) | 9901 | €83,248 | €14,801 | -€68,447 | -82.2% |
| Financial income | 75/76B | €45 | €50 | +€5 | +12.3% |
| Recurring financial income | 75 | €45 | €50 | +€5 | +12.3% |
| Financial charges | 65/66B | €139 | €77 | -€62 | -44.9% |
| Recurring financial charges | 65 | €139 | €77 | -€62 | -44.9% |
| Profit (loss) for the period before taxes | 9903 | €83,154 | €14,775 | -€68,380 | -82.2% |
| Income taxes | 67/77 | €16,631 | €3,011 | -€13,620 | -81.9% |
| Profit (loss) for the period | 9904 | €66,523 | €11,764 | -€54,760 | -82.3% |
| Profit (loss) for the period to be appropriated | 9905 | €66,523 | €11,764 | -€54,760 | -82.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.