LICENO: 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.
LICENO
Largest movements
- Tangible fixed assets -€97,460
down €97,460 (-14.8%), from €659,961 to €562,501
of which Plant, machinery and equipment: -€49,545
- Cash -€33,832
down €33,832 (-13.0%), from €261,050 to €227,218
mainly Contributions, distributions and other (-€169,978) and Debts after one year (-€85,053)
- Stocks and contracts +€10,817
up €10,817 (+47.8%), from €22,646 to €33,463
- Reserves -€169,978
down €169,978 (-100.0%), from €169,978 to €0
- Profit (loss) carried forward +€91,362
up €91,362, from €0 to €91,362
- Debts after one year -€85,053
down €85,053 (-20.3%), from €418,422 to €333,369
- Other debts +€82,624
up €82,624 (+42.9%), from €192,630 to €275,255
- Trade debts -€35,053
down €35,053 (-50.6%), from €69,300 to €34,248
- Gross operating margin -€52,850
down €52,850 (-16.4%), from €322,686 to €269,836
- Taxes -€12,368
down €12,368 (-33.3%), from €37,137 to €24,769
- Depreciation +€3,261
up €3,261 (+2.6%), from €126,988 to €130,249
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 | €959,664 | €842,055 | -€117,609 | -12.3% |
| Fixed assets | 21/28 | €659,961 | €562,501 | -€97,460 | -14.8% |
| Tangible fixed assets | 22/27 | €659,961 | €562,501 | -€97,460 | -14.8% |
| Land and buildings | 22 | €166,655 | €141,242 | -€25,413 | -15.2% |
| Plant, machinery and equipment | 23 | €417,030 | €367,485 | -€49,545 | -11.9% |
| Furniture and vehicles | 24 | €76,275 | €53,773 | -€22,502 | -29.5% |
| Current assets | 29/58 | €299,703 | €279,554 | -€20,150 | -6.7% |
| Stocks and contracts in progress | 3 | €22,646 | €33,463 | +€10,817 | +47.8% |
| Stocks | 30/36 | €22,646 | €33,463 | +€10,817 | +47.8% |
| Amounts receivable within one year | 40/41 | €13,472 | €13,257 | -€215 | -1.6% |
| Trade receivables | 40 | €165 | €292 | +€127 | +76.7% |
| Other amounts receivable | 41 | €13,307 | €12,965 | -€342 | -2.6% |
| Cash at bank and in hand | 54/58 | €261,050 | €227,218 | -€33,832 | -13.0% |
| Deferred charges and accrued income | 490/1 | €2,535 | €5,616 | +€3,081 | +121.5% |
| Total equity and liabilities | 10/49 | €959,664 | €842,055 | -€117,609 | -12.3% |
| Equity | 10/15 | €188,578 | €109,962 | -€78,617 | -41.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €169,978 | €0 | -€169,978 | -100.0% |
| Distributable reserves | 133 | €169,978 | €0 | -€169,978 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €91,362 | +€91,362 | |
| Amounts payable | 17/49 | €771,086 | €732,093 | -€38,993 | -5.1% |
| Amounts payable after more than one year | 17 | €418,422 | €333,369 | -€85,053 | -20.3% |
| Financial debts | 170/4 | €418,422 | €333,369 | -€85,053 | -20.3% |
| Amounts payable within one year | 42/48 | €351,033 | €397,724 | +€46,691 | +13.3% |
| Current portion of amounts payable after more than one year | 42 | €83,363 | €85,053 | +€1,690 | +2.0% |
| Trade debts | 44 | €69,300 | €34,248 | -€35,053 | -50.6% |
| Suppliers | 440/4 | €69,300 | €34,248 | -€35,053 | -50.6% |
| Taxes, remuneration and social security | 45 | €5,740 | €3,169 | -€2,571 | -44.8% |
| Taxes | 450/3 | €5,740 | €3,169 | -€2,571 | -44.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €192,630 | €275,255 | +€82,624 | +42.9% |
| Accrued charges and deferred income | 492/3 | €1,631 | €1,000 | -€631 | -38.7% |
| Non-recurring operating income | 76A | €450 | - | -€450 | |
| Remuneration, social security and pensions | 62 | -€2,788 | €275 | +€3,063 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,988 | €130,249 | +€3,261 | +2.6% |
| Other operating charges | 640/8 | €3,451 | €3,716 | +€265 | +7.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €322,686 | €269,836 | -€52,850 | -16.4% |
| Operating profit (loss) | 9901 | €195,035 | €135,596 | -€59,439 | -30.5% |
| Financial income | 75/76B | €0 | €2,115 | +€2,115 | +2114630.0% |
| Recurring financial income | 75 | €0 | €2,115 | +€2,115 | +2114630.0% |
| Financial charges | 65/66B | €20,315 | €21,580 | +€1,265 | +6.2% |
| Recurring financial charges | 65 | €20,315 | €21,580 | +€1,265 | +6.2% |
| Profit (loss) for the period before taxes | 9903 | €174,720 | €116,130 | -€58,589 | -33.5% |
| Income taxes | 67/77 | €37,137 | €24,769 | -€12,368 | -33.3% |
| Profit (loss) for the period | 9904 | €137,583 | €91,362 | -€46,221 | -33.6% |
| Profit (loss) for the period to be appropriated | 9905 | €137,583 | €91,362 | -€46,221 | -33.6% |
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 3 October 2026 via checked.be.