LICODE: what changed
LICODE
Largest movements
- Receivables within one year +€245,912
up €245,912 (+480%), from €51,185 to €297,098
of which Trade receivables: +€141,389
- Tangible fixed assets +€29,773
up €29,773 (+150%), from €19,895 to €49,668
of which Plant, machinery and equipment: +€34,088
- Cash +€27,618
up €27,618 (+73.1%), from €37,798 to €65,416
mainly Net result for the year (+€172,737) and Tax, wage and social debts (+€67,119)
- Deferred charges and accrued income +€7,579
up €7,579 (+20.6%), from €36,777 to €44,356
- Profit (loss) carried forward +€172,737
up €172,737 (+191%), from €90,481 to €263,217
- Tax, wage and social debts +€67,119
up €67,119 (+148%), from €45,215 to €112,334
of which Taxes: +€68,851
- Debts after one year +€56,250
new in 2025: €56,250
- Current portion of long-term debt +€18,750
new in 2025: €18,750
- Gross operating margin +€168,023
up €168,023 (+129%), from €130,509 to €298,532
- Staff costs +€37,683
up €37,683 (+409%), from €9,204 to €46,887
- Taxes +€32,032
up €32,032 (+121%), from €26,441 to €58,473
- Financial charges +€8,452
up €8,452 (+483%), from €1,750 to €10,202
- Depreciation +€6,545
up €6,545 (+249%), from €2,633 to €9,178
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €145,655 | €456,538 | +€310,882 | +213% |
| Fixed assets | 21/28 | €19,895 | €49,668 | +€29,773 | +150% |
| Tangible fixed assets | 22/27 | €19,895 | €49,668 | +€29,773 | +150% |
| Plant, machinery and equipment | 23 | - | €34,088 | +€34,088 | |
| Furniture and vehicles | 24 | €19,895 | €15,581 | -€4,314 | -21.7% |
| Current assets | 29/58 | €125,760 | €406,869 | +€281,109 | +224% |
| Amounts receivable within one year | 40/41 | €51,185 | €297,098 | +€245,912 | +480% |
| Trade receivables | 40 | €27,134 | €168,523 | +€141,389 | +521% |
| Other amounts receivable | 41 | €24,051 | €128,574 | +€104,523 | +435% |
| Cash at bank and in hand | 54/58 | €37,798 | €65,416 | +€27,618 | +73.1% |
| Deferred charges and accrued income | 490/1 | €36,777 | €44,356 | +€7,579 | +20.6% |
| Total equity and liabilities | 10/49 | €145,655 | €456,538 | +€310,882 | +213% |
| Equity | 10/15 | €91,481 | €264,217 | +€172,737 | +189% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €90,481 | €263,217 | +€172,737 | +191% |
| Amounts payable | 17/49 | €54,174 | €192,320 | +€138,146 | +255% |
| Amounts payable after more than one year | 17 | - | €56,250 | +€56,250 | |
| Financial debts | 170/4 | - | €56,250 | +€56,250 | |
| Amounts payable within one year | 42/48 | €54,174 | €136,070 | +€81,896 | +151% |
| Current portion of amounts payable after more than one year | 42 | - | €18,750 | +€18,750 | |
| Trade debts | 44 | €8,959 | €4,986 | -€3,973 | -44.3% |
| Suppliers | 440/4 | €8,959 | €4,986 | -€3,973 | -44.3% |
| Taxes, remuneration and social security | 45 | €45,215 | €112,334 | +€67,119 | +148% |
| Taxes | 450/3 | €41,665 | €110,516 | +€68,851 | +165% |
| Remuneration and social security | 454/9 | €3,550 | €1,819 | -€1,732 | -48.8% |
| Remuneration, social security and pensions | 62 | €9,204 | €46,887 | +€37,683 | +409% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,633 | €9,178 | +€6,545 | +249% |
| Other operating charges | 640/8 | - | €1,056 | +€1,056 | |
| Gross operating margin | 9900 | €130,509 | €298,532 | +€168,023 | +129% |
| Operating profit (loss) | 9901 | €118,672 | €241,412 | +€122,740 | +103% |
| Financial charges | 65/66B | €1,750 | €10,202 | +€8,452 | +483% |
| Recurring financial charges | 65 | €1,750 | €10,202 | +€8,452 | +483% |
| Profit (loss) for the period before taxes | 9903 | €116,922 | €231,210 | +€114,288 | +97.7% |
| Income taxes | 67/77 | €26,441 | €58,473 | +€32,032 | +121% |
| Profit (loss) for the period | 9904 | €90,481 | €172,737 | +€82,256 | +90.9% |
| Profit (loss) for the period to be appropriated | 9905 | €90,481 | €172,737 | +€82,256 | +90.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.