LIELO: 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.
LIELO
Largest movements
- Cash -€103,629
down €103,629 (-90.0%), from €115,112 to €11,482
mainly Investment in fixed assets (net) (-€148,468) and Net result for the year (-€43,418)
- Tangible fixed assets +€95,429
up €95,429 (+21.8%), from €437,262 to €532,691
of which Land and buildings: +€338,662
- Receivables within one year +€23,043
up €23,043 (+69.8%), from €33,033 to €56,076
of which Other amounts receivable: +€12,974
- Debts after one year +€107,903
up €107,903 (+36.1%), from €299,156 to €407,059
- Reserves -€43,418
down €43,418 (-65.5%), from €66,248 to €22,830
- Other debts -€29,888
down €29,888 (-26.4%), from €113,216 to €83,328
- Tax, wage and social debts -€20,908
down €20,908 (-50.5%), from €41,435 to €20,527
- Accrued charges and deferred income +€7,548
new in 2025: €7,548
- Gross operating margin -€83,758
down €83,758 (-53.8%), from €155,829 to €72,070
- Other operating charges +€22,788
up €22,788 (+1,292%), from €1,764 to €24,552
- Taxes -€19,776
down €19,776 (-98.5%), from €20,068 to €292
- Financial charges +€7,631
up €7,631 (+65.3%), from €11,688 to €19,319
- Depreciation -€3,971
down €3,971 (-7.0%), from €57,010 to €53,039
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 | €585,406 | €600,249 | +€14,842 | +2.5% |
| Fixed assets | 21/28 | €437,262 | €532,691 | +€95,429 | +21.8% |
| Tangible fixed assets | 22/27 | €437,262 | €532,691 | +€95,429 | +21.8% |
| Land and buildings | 22 | - | €338,662 | +€338,662 | |
| Plant, machinery and equipment | 23 | €1,164 | €900 | -€264 | -22.7% |
| Furniture and vehicles | 24 | €7,691 | €10,898 | +€3,207 | +41.7% |
| Leasing and similar rights | 25 | €287,718 | €100,104 | -€187,614 | -65.2% |
| Other tangible fixed assets | 26 | €140,688 | €82,126 | -€58,562 | -41.6% |
| Current assets | 29/58 | €148,145 | €67,558 | -€80,587 | -54.4% |
| Amounts receivable within one year | 40/41 | €33,033 | €56,076 | +€23,043 | +69.8% |
| Trade receivables | 40 | €31,979 | €42,048 | +€10,069 | +31.5% |
| Other amounts receivable | 41 | €1,054 | €14,028 | +€12,974 | +1,231% |
| Cash at bank and in hand | 54/58 | €115,112 | €11,482 | -€103,629 | -90.0% |
| Total equity and liabilities | 10/49 | €585,406 | €600,249 | +€14,842 | +2.5% |
| Equity | 10/15 | €68,748 | €25,330 | -€43,418 | -63.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €66,248 | €22,830 | -€43,418 | -65.5% |
| Distributable reserves | 133 | €66,248 | €22,830 | -€43,418 | -65.5% |
| Amounts payable | 17/49 | €516,658 | €574,919 | +€58,260 | +11.3% |
| Amounts payable after more than one year | 17 | €299,156 | €407,059 | +€107,903 | +36.1% |
| Financial debts | 170/4 | €299,156 | €407,059 | +€107,903 | +36.1% |
| Amounts payable within one year | 42/48 | €217,503 | €160,312 | -€57,191 | -26.3% |
| Current portion of amounts payable after more than one year | 42 | €57,065 | €50,881 | -€6,184 | -10.8% |
| Trade debts | 44 | €5,787 | €5,575 | -€212 | -3.7% |
| Suppliers | 440/4 | €5,787 | €5,575 | -€212 | -3.7% |
| Taxes, remuneration and social security | 45 | €41,435 | €20,527 | -€20,908 | -50.5% |
| Taxes | 450/3 | €41,435 | €20,527 | -€20,908 | -50.5% |
| Other amounts payable | 47/48 | €113,216 | €83,328 | -€29,888 | -26.4% |
| Accrued charges and deferred income | 492/3 | - | €7,548 | +€7,548 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,010 | €53,039 | -€3,971 | -7.0% |
| Other operating charges | 640/8 | €1,764 | €24,552 | +€22,788 | +1,292% |
| Non-recurring operating charges | 66A | €348 | €18,287 | +€17,938 | +5,150% |
| Gross operating margin | 9900 | €155,829 | €72,070 | -€83,758 | -53.8% |
| Operating profit (loss) | 9901 | €96,705 | -€23,808 | -€120,513 | |
| Financial income | 75/76B | €1,298 | €1 | -€1,297 | -99.9% |
| Recurring financial income | 75 | €1,298 | €1 | -€1,297 | -99.9% |
| Financial charges | 65/66B | €11,688 | €19,319 | +€7,631 | +65.3% |
| Recurring financial charges | 65 | €11,688 | €19,319 | +€7,631 | +65.3% |
| Profit (loss) for the period before taxes | 9903 | €86,315 | -€43,126 | -€129,442 | |
| Income taxes | 67/77 | €20,068 | €292 | -€19,776 | -98.5% |
| Profit (loss) for the period | 9904 | €66,248 | -€43,418 | -€109,666 | |
| Profit (loss) for the period to be appropriated | 9905 | €66,248 | -€43,418 | -€109,666 |
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 14 October 2026 via checked.be.