LIBERSART: 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.
LIBERSART
Largest movements
- Tangible fixed assets -€321,441
down €321,441 (-10.9%), from €2.9m to €2.6m
of which Furniture and vehicles: -€180,679
- Receivables within one year -€148,654
down €148,654 (-72.0%), from €206,427 to €57,773
of which Other amounts receivable: -€81,079
- Trade debts -€200,597
down €200,597 (-55.8%), from €359,296 to €158,699
- Debts after one year -€191,363
down €191,363 (-16.7%), from €1.1m to €952,717
- Reserves +€171,570
up €171,570 (+30.4%), from €564,197 to €735,767
of which Distributable reserves: +€171,570
- Short-term financial debts -€100,000
down €100,000 (-25.0%), from €400,000 to €300,000
- Current portion of long-term debt -€94,470
down €94,470 (-31.7%), from €297,802 to €203,332
- Gross operating margin -€128,103
down €128,103 (-12.2%), from €1.0m to €920,929
- Taxes -€34,281
down €34,281 (-31.0%), from €110,516 to €76,235
- Depreciation +€24,750
up €24,750 (+5.4%), from €459,444 to €484,194
- Financial charges -€11,882
down €11,882 (-18.1%), from €65,500 to €53,618
of which Financial charges: -€8,201
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 | €3,592,236 | €3,118,474 | -€473,762 | -13.2% |
| Fixed assets | 21/28 | €2,941,260 | €2,619,820 | -€321,441 | -10.9% |
| Tangible fixed assets | 22/27 | €2,941,260 | €2,619,820 | -€321,441 | -10.9% |
| Land and buildings | 22 | €1,572,798 | €1,497,299 | -€75,499 | -4.8% |
| Plant, machinery and equipment | 23 | €946,561 | €881,299 | -€65,262 | -6.9% |
| Furniture and vehicles | 24 | €421,901 | €241,222 | -€180,679 | -42.8% |
| Current assets | 29/58 | €650,975 | €498,654 | -€152,321 | -23.4% |
| Stocks and contracts in progress | 3 | €400,000 | €396,000 | -€4,000 | -1.0% |
| Stocks | 30/36 | €400,000 | €396,000 | -€4,000 | -1.0% |
| Amounts receivable within one year | 40/41 | €206,427 | €57,773 | -€148,654 | -72.0% |
| Trade receivables | 40 | €87,026 | €19,451 | -€67,576 | -77.6% |
| Other amounts receivable | 41 | €119,401 | €38,323 | -€81,079 | -67.9% |
| Cash at bank and in hand | 54/58 | €40,509 | €41,402 | +€893 | +2.2% |
| Deferred charges and accrued income | 490/1 | €4,039 | €3,479 | -€560 | -13.9% |
| Total equity and liabilities | 10/49 | €3,592,236 | €3,118,474 | -€473,762 | -13.2% |
| Equity | 10/15 | €1,235,093 | €1,406,663 | +€171,570 | +13.9% |
| Contributions | 10/11 | €97,670 | €97,670 | = | 0.0% |
| Capital | 10 | €97,670 | €97,670 | = | 0.0% |
| Issued capital | 100 | €97,670 | €97,670 | = | 0.0% |
| Reserves | 13 | €564,197 | €735,767 | +€171,570 | +30.4% |
| Non-distributable reserves | 130/1 | €14,197 | €14,197 | = | 0.0% |
| Legal reserve | 130 | €14,197 | €14,197 | = | 0.0% |
| Distributable reserves | 133 | €550,000 | €721,570 | +€171,570 | +31.2% |
| Profit (loss) carried forward | 14 | €573,225 | €573,225 | = | 0.0% |
| Amounts payable | 17/49 | €2,357,143 | €1,711,812 | -€645,332 | -27.4% |
| Amounts payable after more than one year | 17 | €1,144,080 | €952,717 | -€191,363 | -16.7% |
| Financial debts | 170/4 | €1,144,080 | €952,717 | -€191,363 | -16.7% |
| Amounts payable within one year | 42/48 | €1,210,066 | €759,094 | -€450,971 | -37.3% |
| Current portion of amounts payable after more than one year | 42 | €297,802 | €203,332 | -€94,470 | -31.7% |
| Financial debts | 43 | €400,000 | €300,000 | -€100,000 | -25.0% |
| Credit institutions | 430/8 | €400,000 | €300,000 | -€100,000 | -25.0% |
| Trade debts | 44 | €359,296 | €158,699 | -€200,597 | -55.8% |
| Suppliers | 440/4 | €359,296 | €158,699 | -€200,597 | -55.8% |
| Taxes, remuneration and social security | 45 | €152,967 | €89,383 | -€63,584 | -41.6% |
| Taxes | 450/3 | €142,580 | €79,695 | -€62,886 | -44.1% |
| Remuneration and social security | 454/9 | €10,387 | €9,689 | -€699 | -6.7% |
| Other amounts payable | 47/48 | - | €7,680 | +€7,680 | |
| Accrued charges and deferred income | 492/3 | €2,998 | - | -€2,998 | |
| Remuneration, social security and pensions | 62 | €116,093 | €119,445 | +€3,352 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €459,444 | €484,194 | +€24,750 | +5.4% |
| Other operating charges | 640/8 | €22,934 | €15,876 | -€7,058 | -30.8% |
| Gross operating margin | 9900 | €1,049,032 | €920,929 | -€128,103 | -12.2% |
| Operating profit (loss) | 9901 | €450,561 | €301,413 | -€149,148 | -33.1% |
| Financial income | 75/76B | €163 | €10 | -€153 | -94.1% |
| Recurring financial income | 75 | €163 | €10 | -€153 | -94.1% |
| Financial charges | 65/66B | €65,500 | €53,618 | -€11,882 | -18.1% |
| Recurring financial charges | 65 | €60,165 | €51,965 | -€8,201 | -13.6% |
| Non-recurring financial charges | 66B | €5,335 | €1,653 | -€3,681 | -69.0% |
| Profit (loss) for the period before taxes | 9903 | €385,224 | €247,805 | -€137,419 | -35.7% |
| Income taxes | 67/77 | €110,516 | €76,235 | -€34,281 | -31.0% |
| Profit (loss) for the period | 9904 | €274,708 | €171,570 | -€103,139 | -37.5% |
| Profit (loss) for the period to be appropriated | 9905 | €274,708 | €171,570 | -€103,139 | -37.5% |
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 22 October 2026 via checked.be.