LIBRAL: 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.
LIBRAL
Largest movements
- Cash +€223,575
up €223,575 (+523%), from €42,766 to €266,342
mainly Depreciation (+€251,610) and Receivables after one year (+€100,000)
- Tangible fixed assets -€202,408
down €202,408 (-10.3%), from €2.0m to €1.8m
- Receivables after one year -€100,000
down €100,000 (-50.0%), from €200,000 to €100,000
- Intangible fixed assets -€40,080
down €40,080 (-33.3%), from €120,239 to €80,159
- Profit (loss) carried forward -€90,272
down €90,272 (-2,241%), from -€4,027 to -€94,299
- Debts after one year -€50,000
down €50,000 (-10.2%), from €489,967 to €439,967
of which Financial debts: -€50,000
- Trade debts +€40,581
up €40,581 (+442%), from €9,176 to €49,757
- Depreciation +€75,654
up €75,654 (+43.0%), from €175,955 to €251,610
- Gross operating margin -€19,596
down €19,596 (-9.8%), from €200,404 to €180,808
- Taxes -€14,490
down €14,490 (-100%), from €14,490 to €0
- Other operating charges +€7,257
up €7,257 (+68.9%), from €10,531 to €17,788
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 | €2,963,457 | €2,846,546 | -€116,911 | -3.9% |
| Fixed assets | 21/28 | €2,084,214 | €1,841,727 | -€242,487 | -11.6% |
| Intangible fixed assets | 21 | €120,239 | €80,159 | -€40,080 | -33.3% |
| Tangible fixed assets | 22/27 | €1,963,975 | €1,761,568 | -€202,408 | -10.3% |
| Land and buildings | 22 | €1,963,975 | €1,761,568 | -€202,408 | -10.3% |
| Current assets | 29/58 | €879,243 | €1,004,819 | +€125,576 | +14.3% |
| Amounts receivable after more than one year | 29 | €200,000 | €100,000 | -€100,000 | -50.0% |
| Other amounts receivable | 291 | €200,000 | €100,000 | -€100,000 | -50.0% |
| Amounts receivable within one year | 40/41 | €611,835 | €622,156 | +€10,321 | +1.7% |
| Trade receivables | 40 | €36,300 | €159,950 | +€123,650 | +341% |
| Other amounts receivable | 41 | €575,535 | €462,206 | -€113,329 | -19.7% |
| Cash at bank and in hand | 54/58 | €42,766 | €266,342 | +€223,575 | +523% |
| Deferred charges and accrued income | 490/1 | €24,641 | €16,321 | -€8,320 | -33.8% |
| Total equity and liabilities | 10/49 | €2,963,457 | €2,846,546 | -€116,911 | -3.9% |
| Equity | 10/15 | €2,319,556 | €2,224,394 | -€95,162 | -4.1% |
| Contributions | 10/11 | €81,874 | €81,874 | = | 0.0% |
| Reserves | 13 | €2,241,710 | €2,236,820 | -€4,890 | -0.2% |
| Non-distributable reserves | 130/1 | €8,187 | €8,187 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,187 | €8,187 | = | 0.0% |
| Tax-exempt reserves | 132 | €185,185 | €180,295 | -€4,890 | -2.6% |
| Distributable reserves | 133 | €2,048,337 | €2,048,337 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,027 | -€94,299 | -€90,272 | -2,241% |
| Provisions and deferred taxes | 16 | €69,912 | €66,811 | -€3,101 | -4.4% |
| Deferred taxes | 168 | €69,912 | €66,811 | -€3,101 | -4.4% |
| Amounts payable | 17/49 | €573,989 | €555,341 | -€18,648 | -3.2% |
| Amounts payable after more than one year | 17 | €489,967 | €439,967 | -€50,000 | -10.2% |
| Financial debts | 170/4 | €116,666 | €66,666 | -€50,000 | -42.9% |
| Other amounts payable | 178/9 | €373,300 | €373,300 | = | 0.0% |
| Amounts payable within one year | 42/48 | €82,672 | €113,976 | +€31,304 | +37.9% |
| Current portion of amounts payable after more than one year | 42 | €50,000 | €50,000 | = | 0.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €9,176 | €49,757 | +€40,581 | +442% |
| Suppliers | 440/4 | €9,176 | €49,757 | +€40,581 | +442% |
| Advances received on contracts in progress | 46 | - | €4,001 | +€4,001 | |
| Taxes, remuneration and social security | 45 | €18,953 | €5,337 | -€13,616 | -71.8% |
| Taxes | 450/3 | €18,953 | €5,337 | -€13,616 | -71.8% |
| Other amounts payable | 47/48 | €4,543 | €4,882 | +€339 | +7.5% |
| Accrued charges and deferred income | 492/3 | €1,350 | €1,398 | +€48 | +3.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €175,955 | €251,610 | +€75,654 | +43.0% |
| Other operating charges | 640/8 | €10,531 | €17,788 | +€7,257 | +68.9% |
| Gross operating margin | 9900 | €200,404 | €180,808 | -€19,596 | -9.8% |
| Operating profit (loss) | 9901 | €13,917 | -€88,590 | -€102,508 | |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €11,626 | €9,673 | -€1,953 | -16.8% |
| Recurring financial charges | 65 | €11,626 | €9,673 | -€1,953 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €2,291 | -€98,263 | -€100,555 | |
| Transfer from deferred taxes | 780 | €2,905 | €3,101 | +€196 | +6.7% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €14,490 | €0 | -€14,490 | -100% |
| Profit (loss) for the period | 9904 | -€9,293 | -€95,162 | -€85,869 | -924% |
| Transfer from tax-exempt reserves | 789 | €4,302 | €4,890 | +€588 | +13.7% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,991 | -€90,272 | -€85,281 | -1,709% |
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 25 October 2026 via checked.be.