LIEMAQS: 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.
LIEMAQS
Largest movements
- Receivables within one year +€43,327
up €43,327 (+77.5%), from €55,883 to €99,210
of which Trade receivables: +€26,383
- Cash +€4,859
up €4,859 (+5.7%), from €85,871 to €90,730
mainly Net result for the year (+€94,561) and Other debts (+€89,466)
- Other debts +€89,466
up €89,466 (+232.3%), from €38,505 to €127,971
- Reserves -€52,471
down €52,471 (-58.5%), from €89,683 to €37,211
- Tax, wage and social debts +€17,690
up €17,690 (+88.9%), from €19,904 to €37,595
- Contributions -€2,990
down €2,990 (-99.7%), from €3,000 to €10
- Gross operating margin +€39,954
up €39,954 (+41.3%), from €96,859 to €136,813
- Taxes +€10,383
up €10,383 (+42.0%), from €24,701 to €35,083
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 | €169,285 | €219,884 | +€50,599 | +29.9% |
| Fixed assets | 21/28 | €25,192 | €26,124 | +€931 | +3.7% |
| Tangible fixed assets | 22/27 | €25,192 | €26,124 | +€931 | +3.7% |
| Plant, machinery and equipment | 23 | €3,343 | €4,010 | +€667 | +19.9% |
| Furniture and vehicles | 24 | €14,521 | €15,233 | +€712 | +4.9% |
| Other tangible fixed assets | 26 | €7,328 | €6,881 | -€447 | -6.1% |
| Current assets | 29/58 | €144,093 | €193,760 | +€49,667 | +34.5% |
| Amounts receivable within one year | 40/41 | €55,883 | €99,210 | +€43,327 | +77.5% |
| Trade receivables | 40 | €17,601 | €43,984 | +€26,383 | +149.9% |
| Other amounts receivable | 41 | €38,282 | €55,226 | +€16,944 | +44.3% |
| Cash at bank and in hand | 54/58 | €85,871 | €90,730 | +€4,859 | +5.7% |
| Deferred charges and accrued income | 490/1 | €2,338 | €3,820 | +€1,482 | +63.4% |
| Total equity and liabilities | 10/49 | €169,285 | €219,884 | +€50,599 | +29.9% |
| Equity | 10/15 | €92,683 | €37,221 | -€55,461 | -59.8% |
| Contributions | 10/11 | €3,000 | €10 | -€2,990 | -99.7% |
| Reserves | 13 | €89,683 | €37,211 | -€52,471 | -58.5% |
| Distributable reserves | 133 | €89,683 | €37,211 | -€52,471 | -58.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €76,603 | €182,663 | +€106,060 | +138.5% |
| Amounts payable after more than one year | 17 | €11,241 | €10,324 | -€917 | -8.2% |
| Financial debts | 170/4 | €11,241 | €10,324 | -€917 | -8.2% |
| Amounts payable within one year | 42/48 | €65,111 | €172,339 | +€107,228 | +164.7% |
| Current portion of amounts payable after more than one year | 42 | €2,310 | €3,612 | +€1,301 | +56.3% |
| Trade debts | 44 | €4,392 | €3,161 | -€1,230 | -28.0% |
| Suppliers | 440/4 | €4,392 | €3,161 | -€1,230 | -28.0% |
| Taxes, remuneration and social security | 45 | €19,904 | €37,595 | +€17,690 | +88.9% |
| Taxes | 450/3 | €19,904 | €37,595 | +€17,690 | +88.9% |
| Other amounts payable | 47/48 | €38,505 | €127,971 | +€89,466 | +232.3% |
| Accrued charges and deferred income | 492/3 | €250 | €0 | -€250 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,548 | €6,993 | +€445 | +6.8% |
| Other operating charges | 640/8 | €1,728 | €1,484 | -€244 | -14.1% |
| Gross operating margin | 9900 | €96,859 | €136,813 | +€39,954 | +41.3% |
| Operating profit (loss) | 9901 | €88,583 | €128,336 | +€39,754 | +44.9% |
| Financial income | 75/76B | €1,436 | €2,485 | +€1,049 | +73.0% |
| Recurring financial income | 75 | €1,436 | €2,485 | +€1,049 | +73.0% |
| Financial charges | 65/66B | €993 | €1,177 | +€185 | +18.6% |
| Recurring financial charges | 65 | €993 | €1,177 | +€185 | +18.6% |
| Profit (loss) for the period before taxes | 9903 | €89,026 | €129,645 | +€40,618 | +45.6% |
| Income taxes | 67/77 | €24,701 | €35,083 | +€10,383 | +42.0% |
| Profit (loss) for the period | 9904 | €64,326 | €94,561 | +€30,235 | +47.0% |
| Profit (loss) for the period to be appropriated | 9905 | €64,326 | €94,561 | +€30,235 | +47.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.