LIEBERT GROUP: what changed
What changed
LIEBERT GROUP
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
-€2,843
2024 · €72,582-€75,425
Equity
€551,203
2024 · €554,046-€2,843
Cash
€182,091
2024 · €164,136+€17,955
Balance sheet total
€1.0m
2024 · €557,607+€468,494
Largest movements
Assets
- Tangible fixed assets +€471,850
up €471,850 (+12,861%), from €3,669 to €475,519
of which Assets under construction and advance payments: +€283,064
- Receivables within one year -€18,107
down €18,107 (-66.6%), from €27,200 to €9,093
- Cash +€17,955
up €17,955 (+10.9%), from €164,136 to €182,091
mainly Debts after one year (+€453,111) and Depreciation (+€31,760)
Equity and liabilities
- Debts after one year +€453,111
new in 2025: €453,111
- Current portion of long-term debt +€16,409
new in 2025: €16,409
Income statement
- Financial income -€49,713
down €49,713 (-95.0%), from €52,314 to €2,601
- Depreciation +€29,930
up €29,930 (+1,635%), from €1,831 to €31,760
- Financial charges +€9,749
up €9,749 (+232%), from €4,198 to €13,947
- Gross operating margin +€7,274
up €7,274 (+21.4%), from €34,027 to €41,301
- Taxes -€6,641
no longer reported in 2025 (was €6,641)
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.
Result 2024
€72,582
Gross operating margin
+€7,274
Depreciation
-€29,930
Other operating charges
+€52
Financial income
-€49,713
Financial charges
-€9,749
Taxes
+€6,641
Result 2025
-€2,843
raises the resultlowers the result
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.
From operations
+€52,046
Investment
-€503,611
Financing
+€469,519
Cash 2024
€164,136
From operations (derived)
+€52,046
Net result for the year
-€2,843
Depreciation
+€31,760
Receivables within one year
+€18,107
Deferred charges and accrued income
+€3,204
Smaller working-capital items
+€547
Accrued charges and deferred income
+€1,270
Investment (derived)
-€503,611
Investment in fixed assets (net)
-€503,611
Financing
+€469,519
Debts after one year
+€453,111
Current portion of long-term debt
+€16,409
Cash 2025
€182,091
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €557,607 | €1,026,101 | +€468,494 | +84.0% |
| Fixed assets | 21/28 | €352,736 | €824,586 | +€471,850 | +134% |
| Tangible fixed assets | 22/27 | €3,669 | €475,519 | +€471,850 | +12,861% |
| Land and buildings | 22 | - | €187,700 | +€187,700 | |
| Furniture and vehicles | 24 | €3,669 | €4,755 | +€1,087 | +29.6% |
| Assets under construction and advance payments | 27 | - | €283,064 | +€283,064 | |
| Financial fixed assets | 28 | €349,067 | €349,067 | = | 0.0% |
| Current assets | 29/58 | €204,872 | €201,515 | -€3,357 | -1.6% |
| Amounts receivable within one year | 40/41 | €27,200 | €9,093 | -€18,107 | -66.6% |
| Other amounts receivable | 41 | €27,200 | €9,093 | -€18,107 | -66.6% |
| Cash at bank and in hand | 54/58 | €164,136 | €182,091 | +€17,955 | +10.9% |
| Deferred charges and accrued income | 490/1 | €13,536 | €10,331 | -€3,204 | -23.7% |
| Total equity and liabilities | 10/49 | €557,607 | €1,026,101 | +€468,494 | +84.0% |
| Equity | 10/15 | €554,046 | €551,203 | -€2,843 | -0.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €541,646 | €538,803 | -€2,843 | -0.5% |
| Distributable reserves | 133 | €541,646 | €538,803 | -€2,843 | -0.5% |
| Amounts payable | 17/49 | €3,561 | €474,898 | +€471,337 | +13,236% |
| Amounts payable after more than one year | 17 | - | €453,111 | +€453,111 | |
| Financial debts | 170/4 | - | €453,111 | +€453,111 | |
| Amounts payable within one year | 42/48 | €3,330 | €20,286 | +€16,955 | +509% |
| Current portion of amounts payable after more than one year | 42 | - | €16,409 | +€16,409 | |
| Trade debts | 44 | €976 | €1,606 | +€630 | +64.6% |
| Suppliers | 440/4 | €976 | €1,606 | +€630 | +64.6% |
| Taxes, remuneration and social security | 45 | €2,186 | €2,098 | -€89 | -4.1% |
| Taxes | 450/3 | €2,186 | €2,098 | -€89 | -4.1% |
| Other amounts payable | 47/48 | €168 | €174 | +€5 | +3.2% |
| Accrued charges and deferred income | 492/3 | €231 | €1,501 | +€1,270 | +551% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,831 | €31,760 | +€29,930 | +1,635% |
| Other operating charges | 640/8 | €1,090 | €1,038 | -€52 | -4.8% |
| Gross operating margin | 9900 | €34,027 | €41,301 | +€7,274 | +21.4% |
| Operating profit (loss) | 9901 | €31,106 | €8,503 | -€22,603 | -72.7% |
| Financial income | 75/76B | €52,314 | €2,601 | -€49,713 | -95.0% |
| Recurring financial income | 75 | €52,314 | €2,601 | -€49,713 | -95.0% |
| Financial charges | 65/66B | €4,198 | €13,947 | +€9,749 | +232% |
| Recurring financial charges | 65 | €4,198 | €13,947 | +€9,749 | +232% |
| Profit (loss) for the period before taxes | 9903 | €79,223 | -€2,843 | -€82,066 | |
| Income taxes | 67/77 | €6,641 | - | -€6,641 | |
| Profit (loss) for the period | 9904 | €72,582 | -€2,843 | -€75,425 | |
| Profit (loss) for the period to be appropriated | 9905 | €72,582 | -€2,843 | -€75,425 |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
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 8 November 2026 via checked.be.