LIEM PHAN: 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.
LIEM PHAN
Largest movements
- Current investments -€23,503
no longer reported in 2025 (was €23,503)
- Cash +€13,495
up €13,495 (+329.8%), from €4,092 to €17,587
mainly Current investments (+€23,503) and Net result for the year (+€8,573)
- Receivables within one year -€2,220
down €2,220 (-32.2%), from €6,899 to €4,680
of which Trade receivables: -€3,354
- Tangible fixed assets -€2,047
no longer reported in 2025 (was €2,047)
- Other debts -€10,622
down €10,622 (-42.7%), from €24,897 to €14,275
- Current portion of long-term debt -€2,129
no longer reported in 2025 (was €2,129)
- Reserves -€1,500
down €1,500 (-33.3%), from €4,500 to €3,000
- Tax, wage and social debts -€479
down €479 (-9.4%), from €5,098 to €4,619
- Gross operating margin -€4,036
down €4,036 (-21.5%), from €18,787 to €14,751
- Depreciation -€1,146
down €1,146 (-35.9%), from €3,193 to €2,047
- Financial income -€1,016
down €1,016 (-83.8%), from €1,213 to €197
- Taxes -€799
down €799 (-19.5%), from €4,094 to €3,295
- Other operating charges +€285
up €285 (+44.2%), from €646 to €932
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 | €39,324 | €24,679 | -€14,645 | -37.2% |
| Fixed assets | 21/28 | €2,047 | - | -€2,047 | |
| Tangible fixed assets | 22/27 | €2,047 | - | -€2,047 | |
| Furniture and vehicles | 24 | €2,047 | - | -€2,047 | |
| Current assets | 29/58 | €37,277 | €24,679 | -€12,598 | -33.8% |
| Amounts receivable within one year | 40/41 | €6,899 | €4,680 | -€2,220 | -32.2% |
| Trade receivables | 40 | €6,899 | €3,545 | -€3,354 | -48.6% |
| Other amounts receivable | 41 | - | €1,135 | +€1,135 | |
| Current investments | 50/53 | €23,503 | - | -€23,503 | |
| Cash at bank and in hand | 54/58 | €4,092 | €17,587 | +€13,495 | +329.8% |
| Deferred charges and accrued income | 490/1 | €2,782 | €2,412 | -€370 | -13.3% |
| Total equity and liabilities | 10/49 | €39,324 | €24,679 | -€14,645 | -37.2% |
| Equity | 10/15 | €6,896 | €5,469 | -€1,427 | -20.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €4,500 | €3,000 | -€1,500 | -33.3% |
| Distributable reserves | 133 | €4,500 | €3,000 | -€1,500 | -33.3% |
| Profit (loss) carried forward | 14 | €396 | €469 | +€73 | +18.4% |
| Amounts payable | 17/49 | €32,428 | €19,210 | -€13,218 | -40.8% |
| Amounts payable within one year | 42/48 | €32,428 | €19,210 | -€13,218 | -40.8% |
| Current portion of amounts payable after more than one year | 42 | €2,129 | - | -€2,129 | |
| Trade debts | 44 | €304 | €316 | +€12 | +4.1% |
| Suppliers | 440/4 | €304 | €316 | +€12 | +4.1% |
| Taxes, remuneration and social security | 45 | €5,098 | €4,619 | -€479 | -9.4% |
| Taxes | 450/3 | €5,098 | €4,619 | -€479 | -9.4% |
| Other amounts payable | 47/48 | €24,897 | €14,275 | -€10,622 | -42.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,193 | €2,047 | -€1,146 | -35.9% |
| Other operating charges | 640/8 | €646 | €932 | +€285 | +44.2% |
| Gross operating margin | 9900 | €18,787 | €14,751 | -€4,036 | -21.5% |
| Operating profit (loss) | 9901 | €14,948 | €11,772 | -€3,175 | -21.2% |
| Financial income | 75/76B | €1,213 | €197 | -€1,016 | -83.8% |
| Recurring financial income | 75 | €1,213 | €197 | -€1,016 | -83.8% |
| Financial charges | 65/66B | €64 | €101 | +€38 | +59.1% |
| Recurring financial charges | 65 | €64 | €101 | +€38 | +59.1% |
| Profit (loss) for the period before taxes | 9903 | €16,097 | €11,868 | -€4,229 | -26.3% |
| Income taxes | 67/77 | €4,094 | €3,295 | -€799 | -19.5% |
| Profit (loss) for the period | 9904 | €12,002 | €8,573 | -€3,429 | -28.6% |
| Profit (loss) for the period to be appropriated | 9905 | €12,002 | €8,573 | -€3,429 | -28.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.