Liberty Work: 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.
Liberty Work
Largest movements
- Receivables within one year +€353,914
up €353,914 (+371.3%), from €95,323 to €449,237
of which Trade receivables: +€354,184
- Cash -€54,405
down €54,405 (-55.0%), from €98,993 to €44,588
mainly Receivables within one year (-€353,914) and Net result for the year (-€166,666)
- Tangible fixed assets -€32,271
down €32,271 (-28.3%), from €114,021 to €81,750
of which Plant, machinery and equipment: -€23,692
- Intangible fixed assets +€17,136
new in 2025: €17,136
- Other debts +€236,917
up €236,917 (+298.5%), from €79,371 to €316,288
- Profit (loss) carried forward -€166,666
down €166,666 (-26.8%), from -€621,686 to -€788,352
- Trade debts +€162,403
up €162,403 (+543.0%), from €29,911 to €192,314
- Tax, wage and social debts +€76,069
up €76,069 (+97.2%), from €78,264 to €154,333
of which Taxes: +€40,139
- Accrued charges and deferred income -€25,626
down €25,626 (-100.0%), from €25,626 to €0
- Staff costs -€658,056
down €658,056 (-78.0%), from €844,034 to €185,978
- Gross operating margin -€600,893
down €600,893 (-91.2%), from €659,111 to €58,218
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 | €391,486 | €674,583 | +€283,098 | +72.3% |
| Fixed assets | 21/28 | €195,894 | €180,759 | -€15,135 | -7.7% |
| Intangible fixed assets | 21 | - | €17,136 | +€17,136 | |
| Tangible fixed assets | 22/27 | €114,021 | €81,750 | -€32,271 | -28.3% |
| Plant, machinery and equipment | 23 | €71,071 | €47,379 | -€23,692 | -33.3% |
| Furniture and vehicles | 24 | €15,954 | €9,970 | -€5,984 | -37.5% |
| Other tangible fixed assets | 26 | €26,996 | €24,400 | -€2,596 | -9.6% |
| Financial fixed assets | 28 | €81,873 | €81,873 | = | 0.0% |
| Current assets | 29/58 | €195,592 | €493,825 | +€298,233 | +152.5% |
| Amounts receivable within one year | 40/41 | €95,323 | €449,237 | +€353,914 | +371.3% |
| Trade receivables | 40 | €95,053 | €449,237 | +€354,184 | +372.6% |
| Other amounts receivable | 41 | €270 | €0 | -€270 | -100.0% |
| Cash at bank and in hand | 54/58 | €98,993 | €44,588 | -€54,405 | -55.0% |
| Deferred charges and accrued income | 490/1 | €1,275 | €0 | -€1,275 | -100.0% |
| Total equity and liabilities | 10/49 | €391,486 | €674,583 | +€283,098 | +72.3% |
| Equity | 10/15 | -€421,686 | -€588,352 | -€166,666 | -39.5% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€621,686 | -€788,352 | -€166,666 | -26.8% |
| Amounts payable | 17/49 | €813,172 | €1,262,935 | +€449,763 | +55.3% |
| Amounts payable after more than one year | 17 | €600,000 | €600,000 | = | 0.0% |
| Financial debts | 170/4 | €600,000 | €600,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €187,546 | €662,935 | +€475,389 | +253.5% |
| Trade debts | 44 | €29,911 | €192,314 | +€162,403 | +543.0% |
| Suppliers | 440/4 | €29,911 | €192,314 | +€162,403 | +543.0% |
| Taxes, remuneration and social security | 45 | €78,264 | €154,333 | +€76,069 | +97.2% |
| Taxes | 450/3 | €6,943 | €47,081 | +€40,139 | +578.1% |
| Remuneration and social security | 454/9 | €71,322 | €107,252 | +€35,930 | +50.4% |
| Other amounts payable | 47/48 | €79,371 | €316,288 | +€236,917 | +298.5% |
| Accrued charges and deferred income | 492/3 | €25,626 | €0 | -€25,626 | -100.0% |
| Remuneration, social security and pensions | 62 | €844,034 | €185,978 | -€658,056 | -78.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,150 | €37,259 | +€3,109 | +9.1% |
| Other operating charges | 640/8 | €2,472 | €912 | -€1,560 | -63.1% |
| Non-recurring operating charges | 66A | €4,738 | €3,950 | -€788 | -16.6% |
| Gross operating margin | 9900 | €659,111 | €58,218 | -€600,893 | -91.2% |
| Operating profit (loss) | 9901 | -€226,283 | -€169,880 | +€56,403 | +24.9% |
| Financial income | 75/76B | €2,539 | €5,137 | +€2,598 | +102.3% |
| Recurring financial income | 75 | €2,539 | €5,137 | +€2,598 | +102.3% |
| Financial charges | 65/66B | €2,131 | €1,483 | -€648 | -30.4% |
| Recurring financial charges | 65 | €2,131 | €1,483 | -€648 | -30.4% |
| Profit (loss) for the period before taxes | 9903 | -€225,876 | -€166,226 | +€59,649 | +26.4% |
| Income taxes | 67/77 | €788 | €440 | -€348 | -44.2% |
| Profit (loss) for the period | 9904 | -€226,664 | -€166,666 | +€59,998 | +26.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€226,664 | -€166,666 | +€59,998 | +26.5% |
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 12 October 2026 via checked.be.