LiègeGraniPierre: 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.
LiègeGraniPierre
Largest movements
- Cash +€326,962
up €326,962 (+422%), from €77,466 to €404,428
mainly Current investments (+€299,324) and Depreciation (+€102,598)
- Current investments -€299,324
down €299,324 (-99.5%), from €300,766 to €1,442
- Tangible fixed assets -€87,895
down €87,895 (-35.2%), from €249,487 to €161,592
of which Plant, machinery and equipment: -€59,542
- Intangible fixed assets +€73,576
new in 2025: €73,576
- Receivables within one year +€16,238
up €16,238 (+17.6%), from €92,209 to €108,447
of which Trade receivables: +€16,238
- Other debts +€31,194
up €31,194 (+199%), from €15,695 to €46,889
- Trade debts +€24,161
up €24,161 (+37.7%), from €64,051 to €88,212
- Debts after one year -€14,064
down €14,064 (-34.2%), from €41,102 to €27,038
- Profit (loss) carried forward +€13,729
up €13,729 (+3.2%), from €429,827 to €443,556
- Tax, wage and social debts -€12,003
down €12,003 (-20.1%), from €59,571 to €47,568
of which Remuneration and social security: -€7,727
- Staff costs +€59,578
up €59,578 (+35.7%), from €167,044 to €226,622
- Taxes -€22,011
down €22,011 (-98.7%), from €22,300 to €289
- Gross operating margin -€19,633
down €19,633 (-5.4%), from €363,424 to €343,791
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 | €748,680 | €785,336 | +€36,656 | +4.9% |
| Fixed assets | 21/28 | €251,460 | €237,141 | -€14,319 | -5.7% |
| Intangible fixed assets | 21 | - | €73,576 | +€73,576 | |
| Tangible fixed assets | 22/27 | €249,487 | €161,592 | -€87,895 | -35.2% |
| Land and buildings | 22 | - | €2,685 | +€2,685 | |
| Plant, machinery and equipment | 23 | €162,929 | €103,387 | -€59,542 | -36.5% |
| Furniture and vehicles | 24 | €73,408 | €46,593 | -€26,815 | -36.5% |
| Assets under construction and advance payments | 27 | €13,150 | €8,927 | -€4,223 | -32.1% |
| Financial fixed assets | 28 | €1,973 | €1,973 | = | 0.0% |
| Current assets | 29/58 | €497,220 | €548,195 | +€50,975 | +10.3% |
| Stocks and contracts in progress | 3 | €18,100 | €24,600 | +€6,500 | +35.9% |
| Stocks | 30/36 | €18,100 | €24,600 | +€6,500 | +35.9% |
| Amounts receivable within one year | 40/41 | €92,209 | €108,447 | +€16,238 | +17.6% |
| Trade receivables | 40 | €86,453 | €102,691 | +€16,238 | +18.8% |
| Other amounts receivable | 41 | €5,756 | €5,756 | = | 0.0% |
| Current investments | 50/53 | €300,766 | €1,442 | -€299,324 | -99.5% |
| Cash at bank and in hand | 54/58 | €77,466 | €404,428 | +€326,962 | +422% |
| Deferred charges and accrued income | 490/1 | €8,679 | €9,278 | +€599 | +6.9% |
| Total equity and liabilities | 10/49 | €748,680 | €785,336 | +€36,656 | +4.9% |
| Equity | 10/15 | €515,997 | €529,726 | +€13,729 | +2.7% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €24,197 | €24,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €24,197 | €24,197 | = | 0.0% |
| Legal reserve | 130 | €24,197 | €24,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | €429,827 | €443,556 | +€13,729 | +3.2% |
| Amounts payable | 17/49 | €232,683 | €255,610 | +€22,927 | +9.9% |
| Amounts payable after more than one year | 17 | €41,102 | €27,038 | -€14,064 | -34.2% |
| Financial debts | 170/4 | €41,102 | €27,038 | -€14,064 | -34.2% |
| Amounts payable within one year | 42/48 | €189,081 | €224,165 | +€35,084 | +18.6% |
| Current portion of amounts payable after more than one year | 42 | €35,309 | €37,996 | +€2,687 | +7.6% |
| Financial debts | 43 | €9 | - | -€9 | |
| Credit institutions | 430/8 | €9 | - | -€9 | |
| Trade debts | 44 | €64,051 | €88,212 | +€24,161 | +37.7% |
| Suppliers | 440/4 | €64,051 | €88,212 | +€24,161 | +37.7% |
| Advances received on contracts in progress | 46 | €14,446 | €3,500 | -€10,946 | -75.8% |
| Taxes, remuneration and social security | 45 | €59,571 | €47,568 | -€12,003 | -20.1% |
| Taxes | 450/3 | €35,812 | €31,536 | -€4,276 | -11.9% |
| Remuneration and social security | 454/9 | €23,759 | €16,032 | -€7,727 | -32.5% |
| Other amounts payable | 47/48 | €15,695 | €46,889 | +€31,194 | +199% |
| Accrued charges and deferred income | 492/3 | €2,500 | €4,407 | +€1,907 | +76.3% |
| Non-recurring operating income | 76A | €10,040 | €23,188 | +€13,148 | +131% |
| Remuneration, social security and pensions | 62 | €167,044 | €226,622 | +€59,578 | +35.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99,899 | €102,598 | +€2,699 | +2.7% |
| Other operating charges | 640/8 | €1,308 | €1,268 | -€40 | -3.1% |
| Non-recurring operating charges | 66A | €14,053 | - | -€14,053 | |
| Gross operating margin | 9900 | €363,424 | €343,791 | -€19,633 | -5.4% |
| Operating profit (loss) | 9901 | €81,120 | €13,303 | -€67,817 | -83.6% |
| Financial income | 75/76B | €2,798 | €4,961 | +€2,163 | +77.3% |
| Recurring financial income | 75 | €2,798 | €4,961 | +€2,163 | +77.3% |
| Financial charges | 65/66B | €3,664 | €4,246 | +€582 | +15.9% |
| Recurring financial charges | 65 | €3,664 | €4,246 | +€582 | +15.9% |
| Profit (loss) for the period before taxes | 9903 | €80,254 | €14,018 | -€66,236 | -82.5% |
| Income taxes | 67/77 | €22,300 | €289 | -€22,011 | -98.7% |
| Profit (loss) for the period | 9904 | €57,954 | €13,729 | -€44,225 | -76.3% |
| Profit (loss) for the period to be appropriated | 9905 | €57,954 | €13,729 | -€44,225 | -76.3% |
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 31 October 2026 via checked.be.