LICU: 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.
LICU
Largest movements
- Tangible fixed assets +€123,488
up €123,488 (+251.0%), from €49,189 to €172,678
of which Furniture and vehicles: +€110,711
- Receivables within one year +€10,837
up €10,837 (+47.4%), from €22,851 to €33,687
of which Trade receivables: +€11,389
- Stocks and contracts +€8,052
up €8,052 (+73.5%), from €10,951 to €19,003
- Reserves +€75,569
up €75,569 (+99.9%), from €75,670 to €151,239
- Current portion of long-term debt +€21,391
new in 2025: €21,391
- Other debts +€17,063
up €17,063 (+7324.3%), from €233 to €17,296
- Debts after one year +€12,478
new in 2025: €12,478
- Tax, wage and social debts +€8,103
up €8,103 (+69.4%), from €11,673 to €19,775
- Gross operating margin +€48,901
up €48,901 (+67.7%), from €72,283 to €121,184
- Taxes +€8,102
up €8,102 (+50.0%), from €16,208 to €24,310
- Depreciation +€7,493
up €7,493 (+64.1%), from €11,693 to €19,186
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 | €90,843 | €232,112 | +€141,269 | +155.5% |
| Fixed assets | 21/28 | €49,189 | €172,728 | +€123,538 | +251.1% |
| Tangible fixed assets | 22/27 | €49,189 | €172,678 | +€123,488 | +251.0% |
| Plant, machinery and equipment | 23 | €14,825 | €27,406 | +€12,581 | +84.9% |
| Furniture and vehicles | 24 | €13,109 | €123,820 | +€110,711 | +844.5% |
| Other tangible fixed assets | 26 | €21,255 | €21,451 | +€196 | +0.9% |
| Financial fixed assets | 28 | - | €50 | +€50 | |
| Current assets | 29/58 | €41,654 | €59,384 | +€17,731 | +42.6% |
| Stocks and contracts in progress | 3 | €10,951 | €19,003 | +€8,052 | +73.5% |
| Stocks | 30/36 | €10,951 | €19,003 | +€8,052 | +73.5% |
| Amounts receivable within one year | 40/41 | €22,851 | €33,687 | +€10,837 | +47.4% |
| Trade receivables | 40 | €21,642 | €33,031 | +€11,389 | +52.6% |
| Other amounts receivable | 41 | €1,209 | €656 | -€552 | -45.7% |
| Cash at bank and in hand | 54/58 | €6,442 | €4,720 | -€1,723 | -26.7% |
| Deferred charges and accrued income | 490/1 | €1,410 | €1,974 | +€564 | +40.0% |
| Total equity and liabilities | 10/49 | €90,843 | €232,112 | +€141,269 | +155.5% |
| Equity | 10/15 | €78,170 | €153,739 | +€75,569 | +96.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €75,670 | €151,239 | +€75,569 | +99.9% |
| Distributable reserves | 133 | €75,670 | €151,239 | +€75,569 | +99.9% |
| Amounts payable | 17/49 | €12,673 | €78,373 | +€65,700 | +518.4% |
| Amounts payable after more than one year | 17 | - | €12,478 | +€12,478 | |
| Financial debts | 170/4 | - | €12,478 | +€12,478 | |
| Amounts payable within one year | 42/48 | €12,162 | €64,087 | +€51,925 | +426.9% |
| Current portion of amounts payable after more than one year | 42 | - | €21,391 | +€21,391 | |
| Trade debts | 44 | €257 | €5,625 | +€5,368 | +2092.8% |
| Suppliers | 440/4 | €257 | €5,625 | +€5,368 | +2092.8% |
| Taxes, remuneration and social security | 45 | €11,673 | €19,775 | +€8,103 | +69.4% |
| Taxes | 450/3 | €11,673 | €19,775 | +€8,103 | +69.4% |
| Other amounts payable | 47/48 | €233 | €17,296 | +€17,063 | +7324.3% |
| Accrued charges and deferred income | 492/3 | €511 | €1,807 | +€1,296 | +253.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,693 | €19,186 | +€7,493 | +64.1% |
| Other operating charges | 640/8 | €619 | €1,532 | +€913 | +147.4% |
| Non-recurring operating charges | 66A | - | €15 | +€15 | |
| Gross operating margin | 9900 | €72,283 | €121,184 | +€48,901 | +67.7% |
| Operating profit (loss) | 9901 | €59,971 | €100,451 | +€40,480 | +67.5% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €603 | €572 | -€30 | -5.0% |
| Recurring financial charges | 65 | €603 | €572 | -€30 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | €59,368 | €99,878 | +€40,510 | +68.2% |
| Income taxes | 67/77 | €16,208 | €24,310 | +€8,102 | +50.0% |
| Profit (loss) for the period | 9904 | €43,161 | €75,569 | +€32,408 | +75.1% |
| Profit (loss) for the period to be appropriated | 9905 | €43,161 | €75,569 | +€32,408 | +75.1% |
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 12 October 2026 via checked.be.