LIEBEN LOWIE: 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.
LIEBEN LOWIE
Largest movements
- Current investments +€220,000
new in 2025: €220,000
- Cash -€107,843
down €107,843 (-51.4%), from €209,979 to €102,136
mainly Current investments (-€220,000) and Deferred charges and accrued income (-€17,282)
- Receivables within one year -€19,724
down €19,724 (-37.3%), from €52,912 to €33,188
of which Trade receivables: -€20,646
- Deferred charges and accrued income +€17,282
up €17,282 (+523%), from €3,301 to €20,584
- Tangible fixed assets -€8,631
down €8,631 (-32.0%), from €26,953 to €18,322
of which Plant, machinery and equipment: -€8,722
- Reserves +€90,831
up €90,831 (+76.8%), from €118,228 to €209,059
- Tax, wage and social debts +€12,976
up €12,976 (+31.6%), from €41,105 to €54,081
of which Taxes: +€19,065
- Accrued charges and deferred income +€7,078
up €7,078, from €0 to €7,078
- Other debts -€6,653
down €6,653 (-6.3%), from €106,027 to €99,374
- Trade debts -€5,396
down €5,396 (-14.7%), from €36,814 to €31,418
- Gross operating margin +€28,533
up €28,533 (+14.3%), from €199,794 to €228,328
- Staff costs +€7,521
up €7,521 (+10.8%), from €69,534 to €77,055
- Taxes +€4,014
up €4,014 (+19.6%), from €20,511 to €24,524
- Depreciation +€2,742
up €2,742 (+12.4%), from €22,084 to €24,826
- Financial income +€2,332
up €2,332 (+563%), from €414 to €2,746
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 | €307,175 | €406,010 | +€98,835 | +32.2% |
| Fixed assets | 21/28 | €40,983 | €30,102 | -€10,881 | -26.5% |
| Intangible fixed assets | 21 | €14,030 | €11,780 | -€2,250 | -16.0% |
| Tangible fixed assets | 22/27 | €26,953 | €18,322 | -€8,631 | -32.0% |
| Plant, machinery and equipment | 23 | €18,333 | €9,612 | -€8,722 | -47.6% |
| Furniture and vehicles | 24 | €8,619 | €8,711 | +€91 | +1.1% |
| Current assets | 29/58 | €266,192 | €375,908 | +€109,716 | +41.2% |
| Amounts receivable within one year | 40/41 | €52,912 | €33,188 | -€19,724 | -37.3% |
| Trade receivables | 40 | €52,771 | €32,126 | -€20,646 | -39.1% |
| Other amounts receivable | 41 | €141 | €1,063 | +€922 | +655% |
| Current investments | 50/53 | - | €220,000 | +€220,000 | |
| Cash at bank and in hand | 54/58 | €209,979 | €102,136 | -€107,843 | -51.4% |
| Deferred charges and accrued income | 490/1 | €3,301 | €20,584 | +€17,282 | +523% |
| Total equity and liabilities | 10/49 | €307,175 | €406,010 | +€98,835 | +32.2% |
| Equity | 10/15 | €123,228 | €214,059 | +€90,831 | +73.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €118,228 | €209,059 | +€90,831 | +76.8% |
| Distributable reserves | 133 | €118,228 | €209,059 | +€90,831 | +76.8% |
| Amounts payable | 17/49 | €183,947 | €191,951 | +€8,004 | +4.4% |
| Amounts payable within one year | 42/48 | €183,947 | €184,873 | +€926 | +0.5% |
| Trade debts | 44 | €36,814 | €31,418 | -€5,396 | -14.7% |
| Suppliers | 440/4 | €36,814 | €31,418 | -€5,396 | -14.7% |
| Taxes, remuneration and social security | 45 | €41,105 | €54,081 | +€12,976 | +31.6% |
| Taxes | 450/3 | €25,491 | €44,556 | +€19,065 | +74.8% |
| Remuneration and social security | 454/9 | €15,614 | €9,524 | -€6,090 | -39.0% |
| Other amounts payable | 47/48 | €106,027 | €99,374 | -€6,653 | -6.3% |
| Accrued charges and deferred income | 492/3 | €0 | €7,078 | +€7,078 | |
| Remuneration, social security and pensions | 62 | €69,534 | €77,055 | +€7,521 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,084 | €24,826 | +€2,742 | +12.4% |
| Other operating charges | 640/8 | €2,769 | €3,311 | +€541 | +19.5% |
| Gross operating margin | 9900 | €199,794 | €228,328 | +€28,533 | +14.3% |
| Operating profit (loss) | 9901 | €105,407 | €123,136 | +€17,729 | +16.8% |
| Financial income | 75/76B | €414 | €2,746 | +€2,332 | +563% |
| Recurring financial income | 75 | €414 | €2,746 | +€2,332 | +563% |
| Financial charges | 65/66B | €8,339 | €10,528 | +€2,188 | +26.2% |
| Recurring financial charges | 65 | €8,339 | €10,528 | +€2,188 | +26.2% |
| Profit (loss) for the period before taxes | 9903 | €97,482 | €115,355 | +€17,872 | +18.3% |
| Income taxes | 67/77 | €20,511 | €24,524 | +€4,014 | +19.6% |
| Profit (loss) for the period | 9904 | €76,972 | €90,831 | +€13,859 | +18.0% |
| Profit (loss) for the period to be appropriated | 9905 | €76,972 | €90,831 | +€13,859 | +18.0% |
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 26 October 2026 via checked.be.