LIBO - G.V.d.B.: 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.
What changed
LIBO - G.V.d.B.
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€833,825
2024 · €1.4m-€568,898
Equity
€6.2m
2024 · €6.9m-€666,175
Cash
€110,518
2024 · €58,684+€51,835
Balance sheet total
€6.8m
2024 · €7.0m-€201,382
Largest movements
Assets
- Current investments -€760,000
down €760,000 (-36.2%), from €2.1m to €1.3m
- Receivables within one year +€629,514
up €629,514 (+140%), from €450,973 to €1.1m
of which Other amounts receivable: +€520,591
- Tangible fixed assets -€118,813
down €118,813 (-3.8%), from €3.1m to €3.0m
of which Land and buildings: -€103,406
Equity and liabilities
- Reserves -€669,448
down €669,448 (-10.9%), from €6.1m to €5.5m
of which Distributable reserves: -€665,000
- Other debts +€443,477
up €443,477 (+198,717%), from €223 to €443,700
Income statement
- Financial income -€540,670
down €540,670 (-42.1%), from €1.3m to €745,001
- Services and other goods +€185,314
up €185,314 (+67.4%), from €274,876 to €460,190
- Turnover +€137,653
up €137,653 (+13.9%), from €990,280 to €1.1m
- Other operating income +€34,543
up €34,543 (+22.9%), from €150,650 to €185,193
- Staff costs +€12,798
up €12,798 (+4.0%), from €323,431 to €336,229
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.
Result 2024
€1.4m
Turnover
+€137,653
Other operating income
+€34,543
Goods and materials
-€5,485
Services and other goods
-€185,314
Staff costs
-€12,798
Depreciation
-€982
Other operating charges
+€3,038
Other operating items
-€1,930
Financial income
-€540,670
Financial charges
-€30
Taxes
+€3,077
Result 2025
€833,825
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€864,924
Investment
+€686,910
Financing
-€1.5m
Cash 2024
€58,684
From operations (derived)
+€864,924
Net result for the year
+€833,825
Depreciation
+€193,938
Smaller working-capital items
-€1
Receivables within one year
-€629,514
Trade debts
+€23,199
Other debts
+€443,477
Investment (derived)
+€686,910
Investment in fixed assets (net)
-€73,090
Current investments
+€760,000
Financing
-€1.5m
Contributions, distributions and other
-€1.5m
Cash 2025
€110,518
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,018,604 | €6,817,222 | -€201,382 | -2.9% |
| Fixed assets | 21/28 | €4,396,922 | €4,276,074 | -€120,848 | -2.7% |
| Intangible fixed assets | 21 | €7,962 | €5,927 | -€2,035 | -25.6% |
| Tangible fixed assets | 22/27 | €3,137,968 | €3,019,155 | -€118,813 | -3.8% |
| Land and buildings | 22 | €3,077,550 | €2,974,144 | -€103,406 | -3.4% |
| Plant, machinery and equipment | 23 | €59,873 | €44,905 | -€14,968 | -25.0% |
| Furniture and vehicles | 24 | €544 | €106 | -€439 | -80.6% |
| Financial fixed assets | 28 | €1,250,992 | €1,250,992 | = | 0.0% |
| Affiliated companies | 280/1 | €1,250,992 | €1,250,992 | = | 0.0% |
| Participating interests | 280 | €1,250,992 | €1,250,992 | = | 0.0% |
| Current assets | 29/58 | €2,621,683 | €2,541,148 | -€80,534 | -3.1% |
| Amounts receivable after more than one year | 29 | €239 | - | -€239 | |
| Other amounts receivable | 291 | €239 | - | -€239 | |
| Amounts receivable within one year | 40/41 | €450,973 | €1,080,487 | +€629,514 | +140% |
| Trade receivables | 40 | €327,051 | €435,974 | +€108,923 | +33.3% |
| Other amounts receivable | 41 | €123,922 | €644,513 | +€520,591 | +420% |
| Current investments | 50/53 | €2,100,000 | €1,340,000 | -€760,000 | -36.2% |
| Other investments | 51/53 | €2,100,000 | €1,340,000 | -€760,000 | -36.2% |
| Cash at bank and in hand | 54/58 | €58,684 | €110,518 | +€51,835 | +88.3% |
| Deferred charges and accrued income | 490/1 | €11,787 | €10,143 | -€1,644 | -13.9% |
| Total equity and liabilities | 10/49 | €7,018,604 | €6,817,222 | -€201,382 | -2.9% |
| Equity | 10/15 | €6,870,469 | €6,204,295 | -€666,175 | -9.7% |
| Contributions | 10/11 | €720,179 | €720,179 | = | 0.0% |
| Capital | 10 | €720,000 | €720,000 | = | 0.0% |
| Issued capital | 100 | €720,000 | €720,000 | = | 0.0% |
| Contributions outside capital | 11 | €179 | €179 | = | 0.0% |
| Share premium | 1100/10 | €179 | €179 | = | 0.0% |
| Reserves | 13 | €6,145,897 | €5,476,450 | -€669,448 | -10.9% |
| Non-distributable reserves | 130/1 | €72,000 | €72,000 | = | 0.0% |
| Legal reserve | 130 | €72,000 | €72,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €28,897 | €24,450 | -€4,448 | -15.4% |
| Distributable reserves | 133 | €6,045,000 | €5,380,000 | -€665,000 | -11.0% |
| Profit (loss) carried forward | 14 | €4,392 | €7,665 | +€3,273 | +74.5% |
| Provisions and deferred taxes | 16 | €5,394 | €3,103 | -€2,290 | -42.5% |
| Deferred taxes | 168 | €5,394 | €3,103 | -€2,290 | -42.5% |
| Amounts payable | 17/49 | €142,742 | €609,824 | +€467,083 | +327% |
| Amounts payable after more than one year | 17 | €2,603 | €2,603 | = | 0.0% |
| Other amounts payable | 178/9 | €2,603 | €2,603 | = | 0.0% |
| Amounts payable within one year | 42/48 | €135,269 | €599,759 | +€464,490 | +343% |
| Trade debts | 44 | €87,616 | €110,816 | +€23,199 | +26.5% |
| Suppliers | 440/4 | €87,616 | €110,816 | +€23,199 | +26.5% |
| Taxes, remuneration and social security | 45 | €47,429 | €45,243 | -€2,186 | -4.6% |
| Taxes | 450/3 | €3,699 | €799 | -€2,900 | -78.4% |
| Remuneration and social security | 454/9 | €43,731 | €44,444 | +€713 | +1.6% |
| Other amounts payable | 47/48 | €223 | €443,700 | +€443,477 | +198,717% |
| Accrued charges and deferred income | 492/3 | €4,870 | €7,463 | +€2,593 | +53.2% |
| Operating income | 70/76A | €1,142,861 | €1,313,127 | +€170,266 | +14.9% |
| Turnover | 70 | €990,280 | €1,127,933 | +€137,653 | +13.9% |
| Other operating income | 74 | €150,650 | €185,193 | +€34,543 | +22.9% |
| Non-recurring operating income | 76A | €1,930 | - | -€1,930 | |
| Operating charges | 60/66A | €978,399 | €1,179,940 | +€201,541 | +20.6% |
| Goods for resale, raw materials and consumables | 60 | €26,323 | €31,808 | +€5,485 | +20.8% |
| Purchases | 600/8 | €26,323 | €31,808 | +€5,485 | +20.8% |
| Services and other goods | 61 | €274,876 | €460,190 | +€185,314 | +67.4% |
| Remuneration, social security and pensions | 62 | €323,431 | €336,229 | +€12,798 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €192,955 | €193,938 | +€982 | +0.5% |
| Other operating charges | 640/8 | €160,814 | €157,775 | -€3,038 | -1.9% |
| Operating profit (loss) | 9901 | €164,462 | €133,187 | -€31,275 | -19.0% |
| Financial income | 75/76B | €1,285,671 | €745,001 | -€540,670 | -42.1% |
| Recurring financial income | 75 | €1,285,671 | €745,001 | -€540,670 | -42.1% |
| Income from financial fixed assets | 750 | €1,260,401 | €700,000 | -€560,401 | -44.5% |
| Income from current assets | 751 | €25,269 | €44,801 | +€19,532 | +77.3% |
| Other financial income | 752/9 | €1 | €200 | +€199 | +29,312% |
| Financial charges | 65/66B | €146 | €176 | +€30 | +20.6% |
| Recurring financial charges | 65 | €146 | €176 | +€30 | +20.6% |
| Debt charges | 650 | €13 | €42 | +€29 | +221% |
| Other financial charges | 652/9 | €133 | €134 | +€1 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | €1,449,987 | €878,012 | -€571,975 | -39.4% |
| Transfer from deferred taxes | 780 | €2,290 | €2,290 | = | 0.0% |
| Income taxes | 67/77 | €49,554 | €46,477 | -€3,077 | -6.2% |
| Taxes | 670/3 | €50,924 | €46,477 | -€4,447 | -8.7% |
| Tax adjustments and reversals of tax provisions | 77 | €1,370 | - | -€1,370 | |
| Profit (loss) for the period | 9904 | €1,402,724 | €833,825 | -€568,898 | -40.6% |
| Transfer from tax-exempt reserves | 789 | €4,448 | €4,448 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,407,171 | €838,273 | -€568,898 | -40.4% |
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 25 October 2026 via checked.be.