Liebrechts: 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.
Liebrechts
Largest movements
- Receivables within one year +€75,342
up €75,342 (+348%), from €21,666 to €97,008
of which Other amounts receivable: +€73,643
- Cash -€66,357
down €66,357 (-20.0%), from €331,867 to €265,510
mainly Contributions, distributions and other (-€231,584) and Receivables within one year (-€75,342)
- Tangible fixed assets -€50,243
down €50,243 (-16.1%), from €312,320 to €262,076
of which Plant, machinery and equipment: -€31,302
- Debts after one year -€37,635
down €37,635 (-37.2%), from €101,042 to €63,407
of which Financial debts: -€37,635
- Tax, wage and social debts +€25,673
up €25,673 (+53.9%), from €47,628 to €73,301
of which Taxes: +€21,689
- Advances received -€21,328
no longer reported in 2025 (was €21,328)
- Other debts -€14,086
down €14,086 (-3.5%), from €403,957 to €389,871
- Gross operating margin +€59,146
up €59,146 (+12.3%), from €481,470 to €540,616
- Staff costs +€39,801
up €39,801 (+28.4%), from €140,041 to €179,842
- Taxes -€24,205
down €24,205 (-37.5%), from €64,493 to €40,288
- Other operating charges +€9,570
up €9,570 (+458%), from €2,091 to €11,661
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 | €678,921 | €638,723 | -€40,198 | -5.9% |
| Fixed assets | 21/28 | €312,320 | €262,076 | -€50,243 | -16.1% |
| Tangible fixed assets | 22/27 | €312,320 | €262,076 | -€50,243 | -16.1% |
| Land and buildings | 22 | €152,261 | €147,935 | -€4,326 | -2.8% |
| Plant, machinery and equipment | 23 | €109,604 | €78,302 | -€31,302 | -28.6% |
| Furniture and vehicles | 24 | €50,455 | €35,839 | -€14,615 | -29.0% |
| Current assets | 29/58 | €366,601 | €376,646 | +€10,045 | +2.7% |
| Stocks and contracts in progress | 3 | €12,077 | €11,610 | -€467 | -3.9% |
| Stocks | 30/36 | €12,077 | €11,610 | -€467 | -3.9% |
| Amounts receivable within one year | 40/41 | €21,666 | €97,008 | +€75,342 | +348% |
| Trade receivables | 40 | €20,121 | €21,820 | +€1,699 | +8.4% |
| Other amounts receivable | 41 | €1,545 | €75,188 | +€73,643 | +4,766% |
| Cash at bank and in hand | 54/58 | €331,867 | €265,510 | -€66,357 | -20.0% |
| Deferred charges and accrued income | 490/1 | €992 | €2,518 | +€1,527 | +154% |
| Total equity and liabilities | 10/49 | €678,921 | €638,723 | -€40,198 | -5.9% |
| Equity | 10/15 | €21,252 | €21,252 | +€0 | 0.0% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,252 | €6,252 | +€0 | 0.0% |
| Amounts payable | 17/49 | €657,669 | €617,471 | -€40,199 | -6.1% |
| Amounts payable after more than one year | 17 | €101,042 | €63,407 | -€37,635 | -37.2% |
| Financial debts | 170/4 | €86,042 | €48,407 | -€37,635 | -43.7% |
| Other amounts payable | 178/9 | €15,000 | €15,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €556,628 | €552,982 | -€3,645 | -0.7% |
| Current portion of amounts payable after more than one year | 42 | €36,481 | €37,635 | +€1,154 | +3.2% |
| Trade debts | 44 | €47,233 | €52,175 | +€4,942 | +10.5% |
| Suppliers | 440/4 | €47,233 | €52,175 | +€4,942 | +10.5% |
| Advances received on contracts in progress | 46 | €21,328 | - | -€21,328 | |
| Taxes, remuneration and social security | 45 | €47,628 | €73,301 | +€25,673 | +53.9% |
| Taxes | 450/3 | €34,256 | €55,945 | +€21,689 | +63.3% |
| Remuneration and social security | 454/9 | €13,372 | €17,356 | +€3,984 | +29.8% |
| Other amounts payable | 47/48 | €403,957 | €389,871 | -€14,086 | -3.5% |
| Accrued charges and deferred income | 492/3 | - | €1,082 | +€1,082 | |
| Non-recurring operating income | 76A | - | €1,979 | +€1,979 | |
| Remuneration, social security and pensions | 62 | €140,041 | €179,842 | +€39,801 | +28.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,205 | €67,013 | -€193 | -0.3% |
| Other operating charges | 640/8 | €2,091 | €11,661 | +€9,570 | +458% |
| Gross operating margin | 9900 | €481,470 | €540,616 | +€59,146 | +12.3% |
| Operating profit (loss) | 9901 | €272,132 | €282,100 | +€9,968 | +3.7% |
| Financial income | 75/76B | €1,091 | €1,230 | +€139 | +12.7% |
| Recurring financial income | 75 | €1,091 | €1,230 | +€139 | +12.7% |
| Financial charges | 65/66B | €10,120 | €11,459 | +€1,339 | +13.2% |
| Recurring financial charges | 65 | €10,120 | €11,459 | +€1,339 | +13.2% |
| Profit (loss) for the period before taxes | 9903 | €263,103 | €271,871 | +€8,768 | +3.3% |
| Income taxes | 67/77 | €64,493 | €40,288 | -€24,205 | -37.5% |
| Profit (loss) for the period | 9904 | €198,610 | €231,584 | +€32,973 | +16.6% |
| Profit (loss) for the period to be appropriated | 9905 | €198,610 | €231,584 | +€32,973 | +16.6% |
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 16 October 2026 via checked.be.