LIEMAL: 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.
LIEMAL
Largest movements
- Current investments +€439,117
up €439,117 (+87.5%), from €501,607 to €940,725
- Cash +€397,446
up €397,446 (+66.6%), from €596,620 to €994,066
mainly Net result for the year (+€759,164) and Tax, wage and social debts (+€60,545)
- Reserves +€759,164
up €759,164 (+46.7%), from €1.6m to €2.4m
of which Distributable reserves: +€759,164
- Tax, wage and social debts +€60,545
up €60,545 (+56610.4%), from €107 to €60,652
- Financial income +€483,842
up €483,842 (+173.4%), from €279,093 to €762,936
- Taxes +€42,765
up €42,765 (+70.8%), from €60,424 to €103,189
- Gross operating margin -€9,588
down €9,588 (-6.8%), from €140,441 to €130,853
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 | €1,903,463 | €2,723,172 | +€819,708 | +43.1% |
| Fixed assets | 21/28 | €805,236 | €788,381 | -€16,855 | -2.1% |
| Tangible fixed assets | 22/27 | €656,500 | €639,645 | -€16,855 | -2.6% |
| Land and buildings | 22 | €656,500 | €639,645 | -€16,855 | -2.6% |
| Financial fixed assets | 28 | €148,736 | €148,736 | = | 0.0% |
| Current assets | 29/58 | €1,098,227 | €1,934,790 | +€836,564 | +76.2% |
| Current investments | 50/53 | €501,607 | €940,725 | +€439,117 | +87.5% |
| Cash at bank and in hand | 54/58 | €596,620 | €994,066 | +€397,446 | +66.6% |
| Total equity and liabilities | 10/49 | €1,903,463 | €2,723,172 | +€819,708 | +43.1% |
| Equity | 10/15 | €1,900,348 | €2,659,511 | +€759,164 | +39.9% |
| Contributions | 10/11 | €275,000 | €275,000 | = | 0.0% |
| Capital | 10 | €275,000 | €275,000 | = | 0.0% |
| Issued capital | 100 | €275,000 | €275,000 | = | 0.0% |
| Reserves | 13 | €1,625,348 | €2,384,511 | +€759,164 | +46.7% |
| Non-distributable reserves | 130/1 | €27,500 | €27,500 | = | 0.0% |
| Legal reserve | 130 | €27,500 | €27,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,239 | €1,239 | = | 0.0% |
| Distributable reserves | 133 | €1,596,608 | €2,355,772 | +€759,164 | +47.5% |
| Amounts payable | 17/49 | €3,115 | €63,660 | +€60,545 | +1943.5% |
| Amounts payable within one year | 42/48 | €3,115 | €63,660 | +€60,545 | +1943.5% |
| Trade debts | 44 | €180 | €180 | = | 0.0% |
| Suppliers | 440/4 | €180 | €180 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €107 | €60,652 | +€60,545 | +56610.4% |
| Taxes | 450/3 | €107 | €60,652 | +€60,545 | +56610.4% |
| Other amounts payable | 47/48 | €2,828 | €2,828 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,058 | €16,855 | -€1,203 | -6.7% |
| Other operating charges | 640/8 | €13,303 | €14,552 | +€1,249 | +9.4% |
| Gross operating margin | 9900 | €140,441 | €130,853 | -€9,588 | -6.8% |
| Operating profit (loss) | 9901 | €109,081 | €99,446 | -€9,635 | -8.8% |
| Financial income | 75/76B | €279,093 | €762,936 | +€483,842 | +173.4% |
| Recurring financial income | 75 | €279,093 | €762,936 | +€483,842 | +173.4% |
| Financial charges | 65/66B | €24 | €29 | +€4 | +18.6% |
| Recurring financial charges | 65 | €24 | €29 | +€4 | +18.6% |
| Profit (loss) for the period before taxes | 9903 | €388,150 | €862,353 | +€474,203 | +122.2% |
| Income taxes | 67/77 | €60,424 | €103,189 | +€42,765 | +70.8% |
| Profit (loss) for the period | 9904 | €327,726 | €759,164 | +€431,438 | +131.6% |
| Profit (loss) for the period to be appropriated | 9905 | €327,726 | €759,164 | +€431,438 | +131.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.