LIBERG: 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.
LIBERG
Largest movements
- Stocks and contracts +€2.2m
up €2.2m (+3,171%), from €68,502 to €2.2m
- Receivables within one year -€46,067
down €46,067 (-29.3%), from €157,092 to €111,025
of which Trade receivables: -€50,909
- Debts after one year +€1.7m
up €1.7m (+248%), from €700,000 to €2.4m
- Trade debts +€371,308
up €371,308 (+691%), from €53,759 to €425,067
- Gross operating margin -€71,105
down €71,105 (-32.5%), from €219,021 to €147,916
- Other operating charges -€47,512
down €47,512 (-46.8%), from €101,625 to €54,113
- Taxes +€6,816
up €6,816 (+108%), from €6,300 to €13,116
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 | €1,829,725 | €3,978,371 | +€2.1m | +117% |
| Fixed assets | 21/28 | €1,592,906 | €1,592,906 | = | 0.0% |
| Tangible fixed assets | 22/27 | €1,592,906 | €1,592,906 | = | 0.0% |
| Other tangible fixed assets | 26 | €1,592,906 | €1,592,906 | = | 0.0% |
| Current assets | 29/58 | €236,819 | €2,385,465 | +€2.1m | +907% |
| Stocks and contracts in progress | 3 | €68,502 | €2,240,496 | +€2.2m | +3,171% |
| Stocks | 30/36 | €68,502 | €2,240,496 | +€2.2m | +3,171% |
| Amounts receivable within one year | 40/41 | €157,092 | €111,025 | -€46,067 | -29.3% |
| Trade receivables | 40 | €147,092 | €96,183 | -€50,909 | -34.6% |
| Other amounts receivable | 41 | €10,000 | €14,842 | +€4,842 | +48.4% |
| Cash at bank and in hand | 54/58 | €11,225 | €29,194 | +€17,969 | +160% |
| Deferred charges and accrued income | 490/1 | - | €4,750 | +€4,750 | |
| Total equity and liabilities | 10/49 | €1,829,725 | €3,978,371 | +€2.1m | +117% |
| Equity | 10/15 | €324,019 | €343,137 | +€19,118 | +5.9% |
| Contributions | 10/11 | €0 | - | = | |
| Reserves | 13 | €384,250 | €384,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €384,250 | €384,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€60,231 | -€41,113 | +€19,118 | +31.7% |
| Amounts payable | 17/49 | €1,505,707 | €3,635,234 | +€2.1m | +141% |
| Amounts payable after more than one year | 17 | €700,000 | €2,435,894 | +€1.7m | +248% |
| Financial debts | 170/4 | €700,000 | €2,435,894 | +€1.7m | +248% |
| Amounts payable within one year | 42/48 | €780,436 | €1,159,409 | +€378,973 | +48.6% |
| Financial debts | 43 | €715,769 | €715,769 | = | 0.0% |
| Credit institutions | 430/8 | €685,000 | €685,000 | = | 0.0% |
| Other loans | 439 | €30,769 | €30,769 | = | 0.0% |
| Trade debts | 44 | €53,759 | €425,067 | +€371,308 | +691% |
| Suppliers | 440/4 | €53,759 | €425,067 | +€371,308 | +691% |
| Taxes, remuneration and social security | 45 | €9,297 | €15,091 | +€5,795 | +62.3% |
| Taxes | 450/3 | €9,297 | €15,091 | +€5,795 | +62.3% |
| Other amounts payable | 47/48 | €1,611 | €3,482 | +€1,871 | +116% |
| Accrued charges and deferred income | 492/3 | €25,271 | €39,931 | +€14,660 | +58.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €101,625 | €54,113 | -€47,512 | -46.8% |
| Gross operating margin | 9900 | €219,021 | €147,916 | -€71,105 | -32.5% |
| Operating profit (loss) | 9901 | €117,396 | €93,803 | -€23,593 | -20.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €62,584 | €61,568 | -€1,015 | -1.6% |
| Recurring financial charges | 65 | €62,584 | €61,568 | -€1,015 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €54,812 | €32,235 | -€22,578 | -41.2% |
| Income taxes | 67/77 | €6,300 | €13,116 | +€6,816 | +108% |
| Profit (loss) for the period | 9904 | €48,512 | €19,118 | -€29,394 | -60.6% |
| Profit (loss) for the period to be appropriated | 9905 | €48,512 | €19,118 | -€29,394 | -60.6% |
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 15 October 2026 via checked.be.