LIEBEN-RASKINET: 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-RASKINET
Largest movements
- Tangible fixed assets +€49,825
up €49,825 (+36.3%), from €137,227 to €187,052
- Receivables within one year +€10,687
up €10,687 (+125%), from €8,532 to €19,219
of which Other amounts receivable: +€6,451
- Other debts +€45,949
up €45,949 (+135%), from €34,100 to €80,049
- Profit (loss) carried forward -€37,255
down €37,255 (-1,541%), from -€2,418 to -€39,673
- Debts after one year +€29,096
new in 2025: €29,096
- Trade debts +€25,468
up €25,468 (+692%), from €3,682 to €29,151
- Current portion of long-term debt +€3,146
up €3,146 (+70.2%), from €4,482 to €7,628
- Gross operating margin -€50,664
down €50,664, from €30,995 to -€19,669
- Staff costs -€20,478
no longer reported in 2025 (was €20,478)
- Write-downs -€4,378
no longer reported in 2025 (was €4,378)
- Financial charges -€2,548
down €2,548 (-47.2%), from €5,396 to €2,848
- Other operating charges -€1,871
down €1,871 (-36.2%), from €5,172 to €3,301
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 | €145,966 | €207,141 | +€61,174 | +41.9% |
| Fixed assets | 21/28 | €137,227 | €187,052 | +€49,825 | +36.3% |
| Tangible fixed assets | 22/27 | €137,227 | €187,052 | +€49,825 | +36.3% |
| Land and buildings | 22 | €137,227 | €187,052 | +€49,825 | +36.3% |
| Current assets | 29/58 | €8,740 | €20,089 | +€11,349 | +130% |
| Amounts receivable within one year | 40/41 | €8,532 | €19,219 | +€10,687 | +125% |
| Trade receivables | 40 | €1,337 | €5,573 | +€4,236 | +317% |
| Other amounts receivable | 41 | €7,195 | €13,646 | +€6,451 | +89.7% |
| Cash at bank and in hand | 54/58 | - | €812 | +€812 | |
| Deferred charges and accrued income | 490/1 | €207 | €58 | -€150 | -72.2% |
| Total equity and liabilities | 10/49 | €145,966 | €207,141 | +€61,174 | +41.9% |
| Equity | 10/15 | €99,247 | €60,373 | -€38,874 | -39.2% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €50,329 | €50,329 | = | 0.0% |
| Distributable reserves | 133 | €50,329 | €50,329 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,418 | -€39,673 | -€37,255 | -1,541% |
| Investment grants | 15 | €11,337 | €9,717 | -€1,620 | -14.3% |
| Amounts payable | 17/49 | €46,719 | €146,768 | +€100,049 | +214% |
| Amounts payable after more than one year | 17 | - | €29,096 | +€29,096 | |
| Financial debts | 170/4 | - | €29,096 | +€29,096 | |
| Amounts payable within one year | 42/48 | €46,086 | €117,252 | +€71,167 | +154% |
| Current portion of amounts payable after more than one year | 42 | €4,482 | €7,628 | +€3,146 | +70.2% |
| Financial debts | 43 | €2,771 | €425 | -€2,346 | -84.7% |
| Credit institutions | 430/8 | €2,771 | €425 | -€2,346 | -84.7% |
| Trade debts | 44 | €3,682 | €29,151 | +€25,468 | +692% |
| Suppliers | 440/4 | €3,682 | €29,151 | +€25,468 | +692% |
| Taxes, remuneration and social security | 45 | €1,050 | - | -€1,050 | |
| Taxes | 450/3 | €985 | - | -€985 | |
| Remuneration and social security | 454/9 | €65 | - | -€65 | |
| Other amounts payable | 47/48 | €34,100 | €80,049 | +€45,949 | +135% |
| Accrued charges and deferred income | 492/3 | €633 | €419 | -€214 | -33.8% |
| Remuneration, social security and pensions | 62 | €20,478 | - | -€20,478 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,315 | €13,063 | +€747 | +6.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,378 | - | -€4,378 | |
| Other operating charges | 640/8 | €5,172 | €3,301 | -€1,871 | -36.2% |
| Gross operating margin | 9900 | €30,995 | -€19,669 | -€50,664 | |
| Operating profit (loss) | 9901 | -€11,348 | -€36,032 | -€24,684 | -218% |
| Financial income | 75/76B | €1,629 | €1,626 | -€3 | -0.2% |
| Recurring financial income | 75 | €1,629 | €1,626 | -€3 | -0.2% |
| Financial charges | 65/66B | €5,396 | €2,848 | -€2,548 | -47.2% |
| Recurring financial charges | 65 | €5,396 | €2,848 | -€2,548 | -47.2% |
| Profit (loss) for the period before taxes | 9903 | -€15,115 | -€37,255 | -€22,139 | -146% |
| Income taxes | 67/77 | €195 | - | -€195 | |
| Profit (loss) for the period | 9904 | -€15,310 | -€37,255 | -€21,945 | -143% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,310 | -€37,255 | -€21,945 | -143% |
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 13 October 2026 via checked.be.