LIEMA: 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.
What changed
LIEMA
NACE 42.110, Construction of roads and motorways
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€109,491
2024 · €108,089+€1,401
Equity
€1.9m
2024 · €1.8m+€109,491
Cash
€227,727
2024 · €164,893+€62,834
Balance sheet total
€7.8m
2024 · €6.1m+€1.7m
Largest movements
Assets
- Stocks and contracts +€1.3m
up €1.3m (+63.4%), from €2.0m to €3.2m
- Receivables within one year +€229,412
up €229,412 (+7.0%), from €3.3m to €3.5m
of which Other amounts receivable: +€999,954
- Tangible fixed assets +€131,701
up €131,701 (+19.9%), from €661,129 to €792,830
of which Furniture and vehicles: +€86,924
Equity and liabilities
- Other debts +€1.7m
up €1.7m (+148.4%), from €1.2m to €2.9m
- Trade debts -€263,542
down €263,542 (-9.6%), from €2.7m to €2.5m
- Provisions +€140,000
new in 2025: €140,000
- Profit (loss) carried forward +€109,491
up €109,491 (+27.7%), from €395,680 to €505,171
Income statement
- Turnover -€2.6m
down €2.6m (-17.6%), from €14.9m to €12.2m
- Services and other goods +€151,111
up €151,111 (+4.6%), from €3.3m to €3.4m
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.
Result 2024
€108,089
Turnover
-€2.6m
Other operating income
+€8,074
Goods and materials
-€88,208
Services and other goods
-€151,111
Staff costs
-€24,689
Depreciation
+€53,508
Write-downs
+€26,825
Other operating charges
-€31,850
Other operating items
+€2.8m
Financial income
+€18,164
Financial charges
-€45
Taxes
+€394
Result 2025
€109,491
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.
From operations
+€579,948
Investment
-€421,947
Financing
-€95,168
Cash 2024
€164,893
From operations (derived)
+€579,948
Net result for the year
+€109,491
Depreciation
+€290,245
Stocks and contracts
-€1.3m
Receivables within one year
-€229,412
Deferred charges and accrued income
-€5,269
Provisions
+€140,000
Trade debts
-€263,542
Tax, wage and social debts
+€696
Other debts
+€1.7m
Accrued charges and deferred income
+€48,779
Investment (derived)
-€421,947
Investment in fixed assets (net)
-€421,947
Financing
-€95,168
Debts after one year
-€64,499
Current portion of long-term debt
-€30,669
Cash 2025
€227,727
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,146,048 | €7,828,950 | +€1.7m | +27.4% |
| Fixed assets | 21/28 | €670,172 | €801,874 | +€131,701 | +19.7% |
| Tangible fixed assets | 22/27 | €661,129 | €792,830 | +€131,701 | +19.9% |
| Plant, machinery and equipment | 23 | €328,233 | €373,010 | +€44,777 | +13.6% |
| Furniture and vehicles | 24 | €332,896 | €419,820 | +€86,924 | +26.1% |
| Financial fixed assets | 28 | €9,043 | €9,043 | = | 0.0% |
| Other financial fixed assets | 284/8 | €9,043 | €9,043 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €9,043 | €9,043 | = | 0.0% |
| Current assets | 29/58 | €5,475,875 | €7,027,076 | +€1.6m | +28.3% |
| Stocks and contracts in progress | 3 | €1,976,676 | €3,230,362 | +€1.3m | +63.4% |
| Contracts in progress | 37 | €1,976,676 | €3,230,362 | +€1.3m | +63.4% |
| Amounts receivable within one year | 40/41 | €3,291,086 | €3,520,498 | +€229,412 | +7.0% |
| Trade receivables | 40 | €2,177,121 | €1,406,579 | -€770,542 | -35.4% |
| Other amounts receivable | 41 | €1,113,965 | €2,113,919 | +€999,954 | +89.8% |
| Cash at bank and in hand | 54/58 | €164,893 | €227,727 | +€62,834 | +38.1% |
| Deferred charges and accrued income | 490/1 | €43,219 | €48,489 | +€5,269 | +12.2% |
| Total equity and liabilities | 10/49 | €6,146,048 | €7,828,950 | +€1.7m | +27.4% |
| Equity | 10/15 | €1,824,040 | €1,933,530 | +€109,491 | +6.0% |
| Contributions | 10/11 | €932,185 | €932,185 | = | 0.0% |
| Reserves | 13 | €496,175 | €496,175 | = | 0.0% |
| Tax-exempt reserves | 132 | €402,956 | €402,956 | = | 0.0% |
| Distributable reserves | 133 | €93,219 | €93,219 | = | 0.0% |
| Profit (loss) carried forward | 14 | €395,680 | €505,171 | +€109,491 | +27.7% |
| Provisions and deferred taxes | 16 | - | €140,000 | +€140,000 | |
| Provisions for liabilities and charges | 160/5 | - | €140,000 | +€140,000 | |
| Other liabilities and charges | 164/5 | - | €140,000 | +€140,000 | |
| Amounts payable | 17/49 | €4,322,008 | €5,755,419 | +€1.4m | +33.2% |
| Amounts payable after more than one year | 17 | €64,499 | €0 | -€64,499 | -100.0% |
| Financial debts | 170/4 | €64,499 | €0 | -€64,499 | -100.0% |
| Credit institutions | 173 | €64,499 | €0 | -€64,499 | -100.0% |
| Amounts payable within one year | 42/48 | €4,147,678 | €5,596,811 | +€1.4m | +34.9% |
| Current portion of amounts payable after more than one year | 42 | €95,168 | €64,499 | -€30,669 | -32.2% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €2,731,433 | €2,467,891 | -€263,542 | -9.6% |
| Suppliers | 440/4 | €2,731,433 | €2,467,891 | -€263,542 | -9.6% |
| Taxes, remuneration and social security | 45 | €147,103 | €147,800 | +€696 | +0.5% |
| Taxes | 450/3 | €503 | €3,807 | +€3,304 | +656.6% |
| Remuneration and social security | 454/9 | €146,600 | €143,993 | -€2,607 | -1.8% |
| Other amounts payable | 47/48 | €1,173,974 | €2,916,621 | +€1.7m | +148.4% |
| Accrued charges and deferred income | 492/3 | €109,830 | €158,609 | +€48,779 | +44.4% |
| Operating income | 70/76A | €13,344,364 | €13,682,776 | +€338,412 | +2.5% |
| Turnover | 70 | €14,851,721 | €12,239,168 | -€2.6m | -17.6% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€1,755,505 | €1,253,686 | +€3.0m | |
| Other operating income | 74 | €180,271 | €188,345 | +€8,074 | +4.5% |
| Non-recurring operating income | 76A | €67,876 | €1,576 | -€66,300 | -97.7% |
| Operating charges | 60/66A | €13,154,061 | €13,509,584 | +€355,523 | +2.7% |
| Goods for resale, raw materials and consumables | 60 | €6,839,745 | €6,927,953 | +€88,208 | +1.3% |
| Purchases | 600/8 | €6,839,745 | €6,927,953 | +€88,208 | +1.3% |
| Services and other goods | 61 | €3,293,624 | €3,444,735 | +€151,111 | +4.6% |
| Remuneration, social security and pensions | 62 | €2,593,974 | €2,618,662 | +€24,689 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €343,754 | €290,245 | -€53,508 | -15.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €27,674 | €848 | -€26,825 | -96.9% |
| Other operating charges | 640/8 | €55,291 | €87,141 | +€31,850 | +57.6% |
| Non-recurring operating charges | 66A | - | €140,000 | +€140,000 | |
| Operating profit (loss) | 9901 | €190,303 | €173,191 | -€17,112 | -9.0% |
| Financial income | 75/76B | €41,341 | €59,505 | +€18,164 | +43.9% |
| Recurring financial income | 75 | €41,341 | €59,505 | +€18,164 | +43.9% |
| Income from current assets | 751 | €30,103 | €44,788 | +€14,685 | +48.8% |
| Other financial income | 752/9 | €11,238 | €14,716 | +€3,479 | +31.0% |
| Financial charges | 65/66B | €123,254 | €123,299 | +€45 | 0.0% |
| Recurring financial charges | 65 | €123,254 | €123,299 | +€45 | 0.0% |
| Debt charges | 650 | €80,244 | €84,450 | +€4,206 | +5.2% |
| Other financial charges | 652/9 | €43,010 | €38,850 | -€4,161 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €108,389 | €109,396 | +€1,007 | +0.9% |
| Income taxes | 67/77 | €300 | -€94 | -€394 | |
| Taxes | 670/3 | €300 | €0 | -€300 | -100.0% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | €94 | +€94 | |
| Profit (loss) for the period | 9904 | €108,089 | €109,491 | +€1,401 | +1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €108,089 | €109,491 | +€1,401 | +1.3% |
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 12 October 2026 via checked.be.