LIBER AVEM: 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.
LIBER AVEM
Largest movements
- Tangible fixed assets -€39,258
down €39,258 (-3.5%), from €1.1m to €1.1m
of which Land and buildings: -€28,952
- Receivables within one year -€31,106
down €31,106 (-37.4%), from €83,157 to €52,051
of which Trade receivables: -€30,213
- Cash +€13,398
up €13,398 (+103%), from €13,052 to €26,450
mainly Depreciation (+€41,506) and Current portion of long-term debt (+€40,060)
- Debts after one year -€77,810
down €77,810 (-6.9%), from €1.1m to €1.1m
of which Financial debts: -€78,360
- Current portion of long-term debt +€40,060
up €40,060 (+1,279%), from €3,132 to €43,192
- Trade debts -€35,539
down €35,539 (-71.1%), from €49,957 to €14,418
- Profit (loss) carried forward +€23,366
up €23,366 (+15.4%), from -€151,560 to -€128,194
- Depreciation -€80,157
down €80,157 (-65.9%), from €121,663 to €41,506
- Gross operating margin +€76,087
up €76,087 (+176%), from €43,156 to €119,243
- Financial charges +€36,415
up €36,415 (+357%), from €10,209 to €46,624
- Staff costs -€2,408
down €2,408 (-92.5%), from €2,602 to €194
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 | €1,236,357 | €1,178,008 | -€58,349 | -4.7% |
| Fixed assets | 21/28 | €1,138,895 | €1,098,277 | -€40,618 | -3.6% |
| Intangible fixed assets | 21 | €3,338 | €1,978 | -€1,360 | -40.7% |
| Tangible fixed assets | 22/27 | €1,135,557 | €1,096,299 | -€39,258 | -3.5% |
| Land and buildings | 22 | €1,082,648 | €1,053,696 | -€28,952 | -2.7% |
| Furniture and vehicles | 24 | €52,909 | €42,603 | -€10,306 | -19.5% |
| Current assets | 29/58 | €97,462 | €79,730 | -€17,732 | -18.2% |
| Amounts receivable within one year | 40/41 | €83,157 | €52,051 | -€31,106 | -37.4% |
| Trade receivables | 40 | €70,598 | €40,385 | -€30,213 | -42.8% |
| Other amounts receivable | 41 | €12,559 | €11,666 | -€893 | -7.1% |
| Cash at bank and in hand | 54/58 | €13,052 | €26,450 | +€13,398 | +103% |
| Deferred charges and accrued income | 490/1 | €1,253 | €1,229 | -€24 | -1.9% |
| Total equity and liabilities | 10/49 | €1,236,357 | €1,178,008 | -€58,349 | -4.7% |
| Equity | 10/15 | -€139,160 | -€115,794 | +€23,366 | +16.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€151,560 | -€128,194 | +€23,366 | +15.4% |
| Amounts payable | 17/49 | €1,375,517 | €1,293,802 | -€81,715 | -5.9% |
| Amounts payable after more than one year | 17 | €1,133,745 | €1,055,935 | -€77,810 | -6.9% |
| Financial debts | 170/4 | €1,133,745 | €1,055,385 | -€78,360 | -6.9% |
| Other amounts payable | 178/9 | - | €550 | +€550 | |
| Amounts payable within one year | 42/48 | €238,021 | €234,241 | -€3,779 | -1.6% |
| Current portion of amounts payable after more than one year | 42 | €3,132 | €43,192 | +€40,060 | +1,279% |
| Trade debts | 44 | €49,957 | €14,418 | -€35,539 | -71.1% |
| Suppliers | 440/4 | €49,957 | €14,418 | -€35,539 | -71.1% |
| Taxes, remuneration and social security | 45 | €17,492 | €13,235 | -€4,257 | -24.3% |
| Taxes | 450/3 | €17,492 | €13,235 | -€4,257 | -24.3% |
| Other amounts payable | 47/48 | €167,439 | €163,397 | -€4,042 | -2.4% |
| Accrued charges and deferred income | 492/3 | €3,751 | €3,625 | -€126 | -3.3% |
| Remuneration, social security and pensions | 62 | €2,602 | €194 | -€2,408 | -92.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €121,663 | €41,506 | -€80,157 | -65.9% |
| Other operating charges | 640/8 | €8,660 | €7,555 | -€1,106 | -12.8% |
| Non-recurring operating charges | 66A | €25,470 | - | -€25,470 | |
| Gross operating margin | 9900 | €43,156 | €119,243 | +€76,087 | +176% |
| Operating profit (loss) | 9901 | -€115,239 | €69,988 | +€185,227 | |
| Financial income | 75/76B | €14 | €2 | -€12 | -84.7% |
| Recurring financial income | 75 | €14 | €2 | -€12 | -84.7% |
| Financial charges | 65/66B | €10,209 | €46,624 | +€36,415 | +357% |
| Recurring financial charges | 65 | €10,209 | €46,624 | +€36,415 | +357% |
| Profit (loss) for the period before taxes | 9903 | -€125,434 | €23,366 | +€148,800 | |
| Income taxes | 67/77 | €1 | - | -€1 | |
| Profit (loss) for the period | 9904 | -€125,435 | €23,366 | +€148,801 | |
| Profit (loss) for the period to be appropriated | 9905 | -€125,435 | €23,366 | +€148,801 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.