LIBRETT: what changed
Two fiscal 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.
LIBRETT
Largest movements
- Tangible fixed assets +€457,788
up €457,788 (+2388.7%), from €19,164 to €476,953
of which Land and buildings: +€466,770
- Cash -€72,204
down €72,204 (-62.9%), from €114,725 to €42,520
mainly Investment in fixed assets (net) (-€478,803) and Other debts (-€29,469)
- Receivables within one year -€12,684
down €12,684 (-32.8%), from €38,728 to €26,044
of which Trade receivables: -€15,246
- Debts after one year +€348,336
new in 2025: €348,336
- Profit (loss) carried forward +€41,212
up €41,212 (+38.3%), from €107,723 to €148,935
- Other debts -€29,469
down €29,469 (-96.3%), from €30,600 to €1,131
- Current portion of long-term debt +€20,194
new in 2025: €20,194
- Tax, wage and social debts -€6,653
down €6,653 (-38.3%), from €17,382 to €10,730
of which Taxes: -€6,653
- Gross operating margin -€21,049
down €21,049 (-19.3%), from €108,838 to €87,789
- Depreciation +€13,282
up €13,282 (+171.8%), from €7,733 to €21,014
- Taxes -€9,128
down €9,128 (-43.4%), from €21,032 to €11,904
- Financial charges +€9,032
up €9,032 (+5846.3%), from €155 to €9,187
- Other operating charges +€3,232
up €3,232 (+259.3%), from €1,247 to €4,479
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 | €173,684 | €546,676 | +€372,991 | +214.8% |
| Fixed assets | 21/28 | €19,164 | €476,953 | +€457,788 | +2388.7% |
| Tangible fixed assets | 22/27 | €19,164 | €476,953 | +€457,788 | +2388.7% |
| Land and buildings | 22 | - | €466,770 | +€466,770 | |
| Plant, machinery and equipment | 23 | €3,011 | €2,442 | -€569 | -18.9% |
| Furniture and vehicles | 24 | €16,153 | €7,740 | -€8,413 | -52.1% |
| Current assets | 29/58 | €154,520 | €69,723 | -€84,797 | -54.9% |
| Amounts receivable within one year | 40/41 | €38,728 | €26,044 | -€12,684 | -32.8% |
| Trade receivables | 40 | €38,115 | €22,869 | -€15,246 | -40.0% |
| Other amounts receivable | 41 | €613 | €3,175 | +€2,562 | +418.1% |
| Cash at bank and in hand | 54/58 | €114,725 | €42,520 | -€72,204 | -62.9% |
| Deferred charges and accrued income | 490/1 | €1,068 | €1,159 | +€91 | +8.5% |
| Total equity and liabilities | 10/49 | €173,684 | €546,676 | +€372,991 | +214.8% |
| Equity | 10/15 | €123,325 | €164,537 | +€41,212 | +33.4% |
| Contributions | 10/11 | €15,602 | €15,602 | = | 0.0% |
| Profit (loss) carried forward | 14 | €107,723 | €148,935 | +€41,212 | +38.3% |
| Amounts payable | 17/49 | €50,359 | €382,138 | +€331,779 | +658.8% |
| Amounts payable after more than one year | 17 | - | €348,336 | +€348,336 | |
| Financial debts | 170/4 | - | €348,336 | +€348,336 | |
| Amounts payable within one year | 42/48 | €50,359 | €33,102 | -€17,257 | -34.3% |
| Current portion of amounts payable after more than one year | 42 | - | €20,194 | +€20,194 | |
| Trade debts | 44 | €2,377 | €1,048 | -€1,329 | -55.9% |
| Suppliers | 440/4 | €2,377 | €1,048 | -€1,329 | -55.9% |
| Taxes, remuneration and social security | 45 | €17,382 | €10,730 | -€6,653 | -38.3% |
| Taxes | 450/3 | €17,382 | €10,730 | -€6,653 | -38.3% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €30,600 | €1,131 | -€29,469 | -96.3% |
| Accrued charges and deferred income | 492/3 | - | €700 | +€700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,733 | €21,014 | +€13,282 | +171.8% |
| Other operating charges | 640/8 | €1,247 | €4,479 | +€3,232 | +259.3% |
| Gross operating margin | 9900 | €108,838 | €87,789 | -€21,049 | -19.3% |
| Operating profit (loss) | 9901 | €99,859 | €62,296 | -€37,562 | -37.6% |
| Financial income | 75/76B | €17 | €7 | -€10 | -59.2% |
| Recurring financial income | 75 | €17 | €7 | -€10 | -59.2% |
| Financial charges | 65/66B | €155 | €9,187 | +€9,032 | +5846.3% |
| Recurring financial charges | 65 | €155 | €9,187 | +€9,032 | +5846.3% |
| Profit (loss) for the period before taxes | 9903 | €99,721 | €53,116 | -€46,605 | -46.7% |
| Income taxes | 67/77 | €21,032 | €11,904 | -€9,128 | -43.4% |
| Profit (loss) for the period | 9904 | €78,689 | €41,212 | -€37,477 | -47.6% |
| Profit (loss) for the period to be appropriated | 9905 | €78,689 | €41,212 | -€37,477 | -47.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.