Libet: 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.
Libet
Largest movements
- Tangible fixed assets +€614,183
up €614,183 (+912%), from €67,365 to €681,548
of which Land and buildings: +€577,662
- Cash -€90,456
down €90,456 (-89.0%), from €101,653 to €11,196
mainly Investment in fixed assets (net) (-€655,593) and Net result for the year (-€91,514)
- Debts after one year +€585,775
up €585,775 (+396%), from €147,763 to €733,538
of which Financial debts: +€504,775
- Profit (loss) carried forward -€91,514
down €91,514 (-367%), from -€24,958 to -€116,472
- Current portion of long-term debt +€12,809
up €12,809 (+86.1%), from €14,883 to €27,692
- Trade debts +€10,951
up €10,951 (+308%), from €3,551 to €14,502
- Other debts +€10,127
up €10,127 (+39.5%), from €25,651 to €35,778
- Depreciation +€32,480
up €32,480 (+356%), from €9,120 to €41,600
- Financial charges +€20,719
up €20,719 (+1,337%), from €1,550 to €22,268
- Gross operating margin -€12,025
down €12,025 (-101%), from -€11,948 to -€23,973
- Other operating charges +€1,506
up €1,506 (+67.5%), from €2,231 to €3,737
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 | €174,214 | €707,858 | +€533,644 | +306% |
| Fixed assets | 21/28 | €71,078 | €685,072 | +€613,993 | +864% |
| Intangible fixed assets | 21 | €3,713 | €3,274 | -€439 | -11.8% |
| Tangible fixed assets | 22/27 | €67,365 | €681,548 | +€614,183 | +912% |
| Land and buildings | 22 | - | €577,662 | +€577,662 | |
| Furniture and vehicles | 24 | €15,560 | €62,568 | +€47,008 | +302% |
| Leasing and similar rights | 25 | €51,805 | €41,318 | -€10,487 | -20.2% |
| Financial fixed assets | 28 | - | €250 | +€250 | |
| Current assets | 29/58 | €103,135 | €22,787 | -€80,349 | -77.9% |
| Stocks and contracts in progress | 3 | - | €6,468 | +€6,468 | |
| Stocks | 30/36 | - | €6,468 | +€6,468 | |
| Amounts receivable within one year | 40/41 | €1,483 | €4,313 | +€2,830 | +191% |
| Trade receivables | 40 | €1,483 | €4,049 | +€2,566 | +173% |
| Other amounts receivable | 41 | - | €264 | +€264 | |
| Cash at bank and in hand | 54/58 | €101,653 | €11,196 | -€90,456 | -89.0% |
| Deferred charges and accrued income | 490/1 | - | €809 | +€809 | |
| Total equity and liabilities | 10/49 | €174,214 | €707,858 | +€533,644 | +306% |
| Equity | 10/15 | -€19,958 | -€111,472 | -€91,514 | -459% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,958 | -€116,472 | -€91,514 | -367% |
| Amounts payable | 17/49 | €194,172 | €819,330 | +€625,158 | +322% |
| Amounts payable after more than one year | 17 | €147,763 | €733,538 | +€585,775 | +396% |
| Financial debts | 170/4 | €147,763 | €652,538 | +€504,775 | +342% |
| Other amounts payable | 178/9 | - | €81,000 | +€81,000 | |
| Amounts payable within one year | 42/48 | €45,920 | €81,467 | +€35,547 | +77.4% |
| Current portion of amounts payable after more than one year | 42 | €14,883 | €27,692 | +€12,809 | +86.1% |
| Trade debts | 44 | €3,551 | €14,502 | +€10,951 | +308% |
| Suppliers | 440/4 | €3,551 | €14,502 | +€10,951 | +308% |
| Taxes, remuneration and social security | 45 | €1,835 | €3,495 | +€1,660 | +90.5% |
| Taxes | 450/3 | €1,835 | €3,495 | +€1,660 | +90.5% |
| Other amounts payable | 47/48 | €25,651 | €35,778 | +€10,127 | +39.5% |
| Accrued charges and deferred income | 492/3 | €488 | €4,324 | +€3,836 | +786% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,120 | €41,600 | +€32,480 | +356% |
| Other operating charges | 640/8 | €2,231 | €3,737 | +€1,506 | +67.5% |
| Gross operating margin | 9900 | -€11,948 | -€23,973 | -€12,025 | -101% |
| Operating profit (loss) | 9901 | -€23,299 | -€69,310 | -€46,011 | -197% |
| Financial income | 75/76B | €113 | €352 | +€239 | +211% |
| Recurring financial income | 75 | €113 | €352 | +€239 | +211% |
| Financial charges | 65/66B | €1,550 | €22,268 | +€20,719 | +1,337% |
| Recurring financial charges | 65 | €1,550 | €22,268 | +€20,719 | +1,337% |
| Profit (loss) for the period before taxes | 9903 | -€24,736 | -€91,227 | -€66,491 | -269% |
| Income taxes | 67/77 | €222 | €287 | +€65 | +29.3% |
| Profit (loss) for the period | 9904 | -€24,958 | -€91,514 | -€66,556 | -267% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,958 | -€91,514 | -€66,556 | -267% |
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 15 October 2026 via checked.be.