LIEMAR: 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.
LIEMAR
Largest movements
- Tangible fixed assets -€21,787
down €21,787 (-2.9%), from €743,133 to €721,346
of which Land and buildings: -€17,829
- Debts after one year -€8,476
down €8,476 (-1.2%), from €709,987 to €701,511
- Gross operating margin +€9,733
up €9,733 (+51.2%), from €19,014 to €28,748
- Depreciation -€5,592
down €5,592 (-20.4%), from €27,379 to €21,787
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 | €827,080 | €806,733 | -€20,347 | -2.5% |
| Fixed assets | 21/28 | €743,133 | €721,346 | -€21,787 | -2.9% |
| Tangible fixed assets | 22/27 | €743,133 | €721,346 | -€21,787 | -2.9% |
| Land and buildings | 22 | €729,092 | €711,262 | -€17,829 | -2.4% |
| Plant, machinery and equipment | 23 | €9,758 | €7,739 | -€2,019 | -20.7% |
| Furniture and vehicles | 24 | €4,284 | €2,345 | -€1,939 | -45.3% |
| Current assets | 29/58 | €83,947 | €85,387 | +€1,440 | +1.7% |
| Amounts receivable within one year | 40/41 | €561 | €642 | +€81 | +14.4% |
| Other amounts receivable | 41 | €561 | €642 | +€81 | +14.4% |
| Current investments | 50/53 | €71,269 | €72,713 | +€1,444 | +2.0% |
| Cash at bank and in hand | 54/58 | €12,116 | €12,031 | -€85 | -0.7% |
| Total equity and liabilities | 10/49 | €827,080 | €806,733 | -€20,347 | -2.5% |
| Equity | 10/15 | €109,286 | €104,303 | -€4,983 | -4.6% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | €74,368 | €74,368 | = | 0.0% |
| Issued capital | 100 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €34,918 | €29,935 | -€4,983 | -14.3% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Legal reserve | 130 | €7,437 | €7,437 | = | 0.0% |
| Distributable reserves | 133 | €27,481 | €22,498 | -€4,983 | -18.1% |
| Amounts payable | 17/49 | €717,794 | €702,430 | -€15,364 | -2.1% |
| Amounts payable after more than one year | 17 | €709,987 | €701,511 | -€8,476 | -1.2% |
| Financial debts | 170/4 | €709,987 | €701,511 | -€8,476 | -1.2% |
| Amounts payable within one year | 42/48 | €7,807 | €919 | -€6,888 | -88.2% |
| Trade debts | 44 | €2,306 | €919 | -€1,387 | -60.2% |
| Suppliers | 440/4 | €2,306 | €919 | -€1,387 | -60.2% |
| Taxes, remuneration and social security | 45 | €5,501 | - | -€5,501 | |
| Taxes | 450/3 | €5,501 | - | -€5,501 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,379 | €21,787 | -€5,592 | -20.4% |
| Other operating charges | 640/8 | €13,876 | €14,039 | +€163 | +1.2% |
| Gross operating margin | 9900 | €19,014 | €28,748 | +€9,733 | +51.2% |
| Operating profit (loss) | 9901 | -€22,241 | -€7,079 | +€15,162 | +68.2% |
| Financial income | 75/76B | €1,872 | €2,141 | +€269 | +14.4% |
| Recurring financial income | 75 | €1,872 | €2,141 | +€269 | +14.4% |
| Financial charges | 65/66B | €45 | €45 | = | 0.0% |
| Recurring financial charges | 65 | €45 | €45 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€20,414 | -€4,983 | +€15,431 | +75.6% |
| Profit (loss) for the period | 9904 | -€20,414 | -€4,983 | +€15,431 | +75.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,414 | -€4,983 | +€15,431 | +75.6% |
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 7 October 2026 via checked.be.