LIEGAL: 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.
LIEGAL
Largest movements
- Cash +€248,811
up €248,811 (+60.1%), from €414,097 to €662,908
mainly Net result for the year (+€483,969) and Depreciation (+€19,817)
- Profit (loss) carried forward +€425,145
up €425,145 (+15.2%), from €2.8m to €3.2m
- Debts after one year -€200,000
down €200,000 (-20.0%), from €1.0m to €800,000
- Financial income -€647,500
no longer reported in 2025 (was €647,500)
- Gross operating margin +€572,876
up €572,876, from -€53,385 to €519,491
- Depreciation +€12,843
up €12,843 (+184.1%), from €6,975 to €19,817
- Financial charges -€9,762
down €9,762 (-43.2%), from €22,615 to €12,854
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 | €5,123,922 | €5,345,197 | +€221,275 | +4.3% |
| Fixed assets | 21/28 | €4,697,100 | €4,678,483 | -€18,617 | -0.4% |
| Tangible fixed assets | 22/27 | €97,100 | €78,483 | -€18,617 | -19.2% |
| Plant, machinery and equipment | 23 | €2,462 | €2,210 | -€252 | -10.2% |
| Furniture and vehicles | 24 | €94,638 | €76,273 | -€18,365 | -19.4% |
| Financial fixed assets | 28 | €4,600,000 | €4,600,000 | = | 0.0% |
| Current assets | 29/58 | €426,821 | €666,714 | +€239,892 | +56.2% |
| Amounts receivable within one year | 40/41 | €9,483 | €1,336 | -€8,148 | -85.9% |
| Other amounts receivable | 41 | €9,483 | €1,336 | -€8,148 | -85.9% |
| Cash at bank and in hand | 54/58 | €414,097 | €662,908 | +€248,811 | +60.1% |
| Deferred charges and accrued income | 490/1 | €3,241 | €2,470 | -€771 | -23.8% |
| Total equity and liabilities | 10/49 | €5,123,922 | €5,345,197 | +€221,275 | +4.3% |
| Equity | 10/15 | €2,813,931 | €3,239,076 | +€425,145 | +15.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,793,471 | €3,218,616 | +€425,145 | +15.2% |
| Amounts payable | 17/49 | €2,309,991 | €2,106,120 | -€203,870 | -8.8% |
| Amounts payable after more than one year | 17 | €1,000,000 | €800,000 | -€200,000 | -20.0% |
| Financial debts | 170/4 | €1,000,000 | €800,000 | -€200,000 | -20.0% |
| Amounts payable within one year | 42/48 | €1,309,991 | €1,306,120 | -€3,870 | -0.3% |
| Trade debts | 44 | €552 | €90 | -€462 | -83.7% |
| Suppliers | 440/4 | €552 | €90 | -€462 | -83.7% |
| Taxes, remuneration and social security | 45 | €8,378 | €6,030 | -€2,347 | -28.0% |
| Taxes | 450/3 | €8,378 | €5,057 | -€3,321 | -39.6% |
| Remuneration and social security | 454/9 | - | €973 | +€973 | |
| Other amounts payable | 47/48 | €1,301,062 | €1,300,000 | -€1,062 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,975 | €19,817 | +€12,843 | +184.1% |
| Other operating charges | 640/8 | €918 | €2,542 | +€1,624 | +176.9% |
| Gross operating margin | 9900 | -€53,385 | €519,491 | +€572,876 | |
| Operating profit (loss) | 9901 | -€61,278 | €497,131 | +€558,410 | |
| Financial income | 75/76B | €647,500 | - | -€647,500 | |
| Recurring financial income | 75 | €647,500 | - | -€647,500 | |
| Financial charges | 65/66B | €22,615 | €12,854 | -€9,762 | -43.2% |
| Recurring financial charges | 65 | €22,615 | €12,854 | -€9,762 | -43.2% |
| Profit (loss) for the period before taxes | 9903 | €563,607 | €484,278 | -€79,329 | -14.1% |
| Income taxes | 67/77 | -€1,251 | €309 | +€1,560 | |
| Profit (loss) for the period | 9904 | €564,858 | €483,969 | -€80,889 | -14.3% |
| Profit (loss) for the period to be appropriated | 9905 | €564,858 | €483,969 | -€80,889 | -14.3% |
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 6 October 2026 via checked.be.