LIEFRAN: 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.
LIEFRAN
Largest movements
- Current investments +€11,000
up €11,000 (+30.4%), from €36,184 to €47,184
- Receivables within one year +€6,557
up €6,557 (+130%), from €5,025 to €11,582
of which Trade receivables: +€5,536
- Cash -€2,280
down €2,280 (-36.3%), from €6,274 to €3,994
mainly Current investments (-€11,000) and Receivables within one year (-€6,557)
- Tangible fixed assets +€1,845
up €1,845 (+164%), from €1,127 to €2,972
- Deferred charges and accrued income +€856
new in 2025: €856
- Reserves +€18,211
up €18,211 (+49.0%), from €37,142 to €55,353
- Gross operating margin +€3,793
up €3,793 (+15.4%), from €24,571 to €28,364
- Taxes +€633
up €633 (+8.6%), from €7,346 to €7,979
- Other operating charges -€372
down €372 (-41.7%), from €892 to €520
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 | €48,610 | €66,588 | +€17,978 | +37.0% |
| Fixed assets | 21/28 | €1,127 | €2,972 | +€1,845 | +164% |
| Tangible fixed assets | 22/27 | €1,127 | €2,972 | +€1,845 | +164% |
| Furniture and vehicles | 24 | €1,127 | €2,972 | +€1,845 | +164% |
| Current assets | 29/58 | €47,483 | €63,616 | +€16,133 | +34.0% |
| Amounts receivable within one year | 40/41 | €5,025 | €11,582 | +€6,557 | +130% |
| Trade receivables | 40 | €5,025 | €10,561 | +€5,536 | +110% |
| Other amounts receivable | 41 | - | €1,021 | +€1,021 | |
| Current investments | 50/53 | €36,184 | €47,184 | +€11,000 | +30.4% |
| Cash at bank and in hand | 54/58 | €6,274 | €3,994 | -€2,280 | -36.3% |
| Deferred charges and accrued income | 490/1 | - | €856 | +€856 | |
| Total equity and liabilities | 10/49 | €48,610 | €66,588 | +€17,978 | +37.0% |
| Equity | 10/15 | €42,142 | €60,353 | +€18,211 | +43.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €37,142 | €55,353 | +€18,211 | +49.0% |
| Distributable reserves | 133 | €37,142 | €55,353 | +€18,211 | +49.0% |
| Amounts payable | 17/49 | €6,468 | €6,235 | -€233 | -3.6% |
| Amounts payable within one year | 42/48 | €6,468 | €6,235 | -€233 | -3.6% |
| Trade debts | 44 | €1,952 | €1,516 | -€437 | -22.4% |
| Suppliers | 440/4 | €1,952 | €1,516 | -€437 | -22.4% |
| Taxes, remuneration and social security | 45 | €2,997 | €2,959 | -€38 | -1.3% |
| Taxes | 450/3 | €2,997 | €2,959 | -€38 | -1.3% |
| Other amounts payable | 47/48 | €1,519 | €1,761 | +€242 | +15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €535 | €655 | +€121 | +22.5% |
| Other operating charges | 640/8 | €892 | €520 | -€372 | -41.7% |
| Gross operating margin | 9900 | €24,571 | €28,364 | +€3,793 | +15.4% |
| Operating profit (loss) | 9901 | €23,144 | €27,189 | +€4,045 | +17.5% |
| Financial income | 75/76B | €130 | €0 | -€130 | -100.0% |
| Recurring financial income | 75 | €130 | €0 | -€130 | -100.0% |
| Financial charges | 65/66B | €1,100 | €999 | -€101 | -9.1% |
| Recurring financial charges | 65 | €1,100 | €999 | -€101 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €22,174 | €26,190 | +€4,015 | +18.1% |
| Income taxes | 67/77 | €7,346 | €7,979 | +€633 | +8.6% |
| Profit (loss) for the period | 9904 | €14,828 | €18,211 | +€3,383 | +22.8% |
| Profit (loss) for the period to be appropriated | 9905 | €14,828 | €18,211 | +€3,383 | +22.8% |
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 19 October 2026 via checked.be.