LIEDENT: what changed
Two fiscal 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.
LIEDENT
Largest movements
- Cash +€494,395
up €494,395 (+122.0%), from €405,228 to €899,623
mainly Net result for the year (+€782,292) and Receivables within one year (+€370,557)
- Receivables within one year -€370,557
down €370,557 (-44.4%), from €834,571 to €464,014
of which Other amounts receivable: -€370,981
- Tangible fixed assets -€29,328
down €29,328 (-10.3%), from €283,521 to €254,194
of which Other tangible fixed assets: -€46,592
- Short-term financial debts +€150,421
new in 2025: €150,421
- Other debts -€100,582
down €100,582 (-11.8%), from €850,582 to €750,000
- Tax, wage and social debts +€42,264
up €42,264 (+24.0%), from €175,783 to €218,047
of which Remuneration and social security: +€29,764
- Reserves +€32,292
up €32,292 (+8.3%), from €389,216 to €421,509
of which Distributable reserves: +€32,292
- Current portion of long-term debt -€28,583
down €28,583 (-70.4%), from €40,620 to €12,037
- Gross operating margin +€183,898
up €183,898 (+10.4%), from €1.8m to €2.0m
- Staff costs +€98,595
up €98,595 (+14.4%), from €683,007 to €781,602
- Depreciation -€23,206
down €23,206 (-16.0%), from €144,711 to €121,505
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 | €1,534,521 | €1,627,347 | +€92,826 | +6.0% |
| Fixed assets | 21/28 | €283,521 | €254,194 | -€29,328 | -10.3% |
| Tangible fixed assets | 22/27 | €283,521 | €254,194 | -€29,328 | -10.3% |
| Plant, machinery and equipment | 23 | €216,243 | €240,279 | +€24,036 | +11.1% |
| Furniture and vehicles | 24 | €10,773 | €4,002 | -€6,772 | -62.9% |
| Other tangible fixed assets | 26 | €56,505 | €9,913 | -€46,592 | -82.5% |
| Current assets | 29/58 | €1,250,999 | €1,373,154 | +€122,154 | +9.8% |
| Amounts receivable within one year | 40/41 | €834,571 | €464,014 | -€370,557 | -44.4% |
| Trade receivables | 40 | - | €424 | +€424 | |
| Other amounts receivable | 41 | €834,571 | €463,591 | -€370,981 | -44.5% |
| Cash at bank and in hand | 54/58 | €405,228 | €899,623 | +€494,395 | +122.0% |
| Deferred charges and accrued income | 490/1 | €11,200 | €9,517 | -€1,683 | -15.0% |
| Total equity and liabilities | 10/49 | €1,534,521 | €1,627,347 | +€92,826 | +6.0% |
| Equity | 10/15 | €451,216 | €483,509 | +€32,292 | +7.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €389,216 | €421,509 | +€32,292 | +8.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €383,016 | €415,309 | +€32,292 | +8.4% |
| Amounts payable | 17/49 | €1,083,304 | €1,143,838 | +€60,534 | +5.6% |
| Amounts payable after more than one year | 17 | €12,037 | - | -€12,037 | |
| Financial debts | 170/4 | €12,037 | - | -€12,037 | |
| Amounts payable within one year | 42/48 | €1,070,806 | €1,143,838 | +€73,033 | +6.8% |
| Current portion of amounts payable after more than one year | 42 | €40,620 | €12,037 | -€28,583 | -70.4% |
| Financial debts | 43 | - | €150,421 | +€150,421 | |
| Credit institutions | 430/8 | - | €150,421 | +€150,421 | |
| Trade debts | 44 | €3,820 | €13,334 | +€9,514 | +249.1% |
| Suppliers | 440/4 | €3,820 | €13,334 | +€9,514 | +249.1% |
| Taxes, remuneration and social security | 45 | €175,783 | €218,047 | +€42,264 | +24.0% |
| Taxes | 450/3 | €98,000 | €110,500 | +€12,500 | +12.8% |
| Remuneration and social security | 454/9 | €77,783 | €107,547 | +€29,764 | +38.3% |
| Other amounts payable | 47/48 | €850,582 | €750,000 | -€100,582 | -11.8% |
| Accrued charges and deferred income | 492/3 | €461 | - | -€461 | |
| Remuneration, social security and pensions | 62 | €683,007 | €781,602 | +€98,595 | +14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €144,711 | €121,505 | -€23,206 | -16.0% |
| Other operating charges | 640/8 | €3,611 | €3,357 | -€254 | -7.0% |
| Gross operating margin | 9900 | €1,769,380 | €1,953,277 | +€183,898 | +10.4% |
| Operating profit (loss) | 9901 | €938,051 | €1,046,814 | +€108,763 | +11.6% |
| Financial income | 75/76B | €5,145 | €2,961 | -€2,184 | -42.5% |
| Recurring financial income | 75 | €5,145 | €2,961 | -€2,184 | -42.5% |
| Financial charges | 65/66B | €4,709 | €4,108 | -€601 | -12.8% |
| Recurring financial charges | 65 | €4,709 | €4,108 | -€601 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | €938,486 | €1,045,667 | +€107,180 | +11.4% |
| Income taxes | 67/77 | €249,626 | €263,374 | +€13,749 | +5.5% |
| Profit (loss) for the period | 9904 | €688,860 | €782,292 | +€93,432 | +13.6% |
| Profit (loss) for the period to be appropriated | 9905 | €688,860 | €782,292 | +€93,432 | +13.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.