LIEMA PROJECTS: 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.
LIEMA PROJECTS
Largest movements
- Receivables within one year +€10,679
up €10,679 (+26.6%), from €40,180 to €50,859
of which Trade receivables: +€8,809
- Cash +€5,387
up €5,387 (+201%), from €2,686 to €8,073
mainly Net result for the year (+€65,666) and Trade debts (+€19,109)
- Debts after one year -€41,618
down €41,618 (-17.8%), from €233,377 to €191,759
- Reserves +€30,957
up €30,957 (+18.6%), from €166,076 to €197,033
- Trade debts +€19,109
up €19,109 (+283%), from €6,743 to €25,852
- Tax, wage and social debts +€7,218
up €7,218 (+128%), from €5,650 to €12,868
of which Taxes: +€7,218
- Gross operating margin +€29,488
up €29,488 (+33.8%), from €87,270 to €116,759
- Taxes +€19,946
up €19,946 (+352%), from €5,661 to €25,607
- Financial charges -€2,507
down €2,507 (-24.9%), from €10,067 to €7,560
- Other operating charges -€1,348
down €1,348 (-40.1%), from €3,360 to €2,012
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 | €471,816 | €488,312 | +€16,496 | +3.5% |
| Fixed assets | 21/28 | €388,955 | €388,850 | -€105 | 0.0% |
| Tangible fixed assets | 22/27 | €388,818 | €388,712 | -€105 | 0.0% |
| Land and buildings | 22 | €339,502 | €331,602 | -€7,900 | -2.3% |
| Plant, machinery and equipment | 23 | €31,630 | €44,179 | +€12,549 | +39.7% |
| Furniture and vehicles | 24 | €15,217 | €10,802 | -€4,416 | -29.0% |
| Other tangible fixed assets | 26 | €2,469 | €2,130 | -€339 | -13.7% |
| Financial fixed assets | 28 | €138 | €138 | = | 0.0% |
| Current assets | 29/58 | €82,860 | €99,462 | +€16,601 | +20.0% |
| Amounts receivable after more than one year | 29 | €25,000 | €25,000 | = | 0.0% |
| Other amounts receivable | 291 | €25,000 | €25,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €40,180 | €50,859 | +€10,679 | +26.6% |
| Trade receivables | 40 | €23,631 | €32,440 | +€8,809 | +37.3% |
| Other amounts receivable | 41 | €16,549 | €18,419 | +€1,871 | +11.3% |
| Cash at bank and in hand | 54/58 | €2,686 | €8,073 | +€5,387 | +201% |
| Deferred charges and accrued income | 490/1 | €14,994 | €15,529 | +€535 | +3.6% |
| Total equity and liabilities | 10/49 | €471,816 | €488,312 | +€16,496 | +3.5% |
| Equity | 10/15 | €184,676 | €215,633 | +€30,957 | +16.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €166,076 | €197,033 | +€30,957 | +18.6% |
| Distributable reserves | 133 | €166,076 | €197,033 | +€30,957 | +18.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €287,140 | €272,679 | -€14,461 | -5.0% |
| Amounts payable after more than one year | 17 | €233,377 | €191,759 | -€41,618 | -17.8% |
| Financial debts | 170/4 | €233,377 | €191,759 | -€41,618 | -17.8% |
| Amounts payable within one year | 42/48 | €53,193 | €80,337 | +€27,144 | +51.0% |
| Current portion of amounts payable after more than one year | 42 | €40,801 | €41,618 | +€817 | +2.0% |
| Trade debts | 44 | €6,743 | €25,852 | +€19,109 | +283% |
| Suppliers | 440/4 | €6,743 | €25,852 | +€19,109 | +283% |
| Taxes, remuneration and social security | 45 | €5,650 | €12,868 | +€7,218 | +128% |
| Taxes | 450/3 | €2,850 | €10,068 | +€7,218 | +253% |
| Remuneration and social security | 454/9 | €2,800 | €2,800 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €570 | €583 | +€13 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,593 | €17,429 | +€836 | +5.0% |
| Other operating charges | 640/8 | €3,360 | €2,012 | -€1,348 | -40.1% |
| Non-recurring operating charges | 66A | €45,353 | €0 | -€45,353 | -100% |
| Gross operating margin | 9900 | €87,270 | €116,759 | +€29,488 | +33.8% |
| Operating profit (loss) | 9901 | €21,964 | €97,317 | +€75,353 | +343% |
| Financial income | 75/76B | €735 | €1,515 | +€781 | +106% |
| Recurring financial income | 75 | €735 | €1,515 | +€781 | +106% |
| Financial charges | 65/66B | €10,067 | €7,560 | -€2,507 | -24.9% |
| Recurring financial charges | 65 | €10,067 | €7,560 | -€2,507 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | €12,631 | €91,273 | +€78,641 | +623% |
| Income taxes | 67/77 | €5,661 | €25,607 | +€19,946 | +352% |
| Profit (loss) for the period | 9904 | €6,970 | €65,666 | +€58,695 | +842% |
| Profit (loss) for the period to be appropriated | 9905 | €6,970 | €65,666 | +€58,695 | +842% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.