LIEMAX: 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.
LIEMAX
Largest movements
- Receivables within one year -€16,656
down €16,656 (-74.8%), from €22,281 to €5,625
of which Trade receivables: -€16,340
- Tangible fixed assets -€4,668
down €4,668 (-34.6%), from €13,473 to €8,805
of which Furniture and vehicles: -€3,167
- Cash -€4,248
down €4,248 (-70.7%), from €6,005 to €1,757
mainly Trade debts (-€12,616) and Net result for the year (-€7,468)
- Trade debts -€12,616
down €12,616 (-80.2%), from €15,732 to €3,116
- Profit (loss) carried forward -€7,468
down €7,468, from €2,364 to -€5,104
- Other debts -€6,214
down €6,214 (-39.2%), from €15,838 to €9,624
- Tax, wage and social debts +€732
up €732 (+597%), from €123 to €855
- Gross operating margin -€3,676
down €3,676, from €1,929 to -€1,747
- Depreciation +€2,675
up €2,675 (+134%), from €1,993 to €4,668
- Other operating charges -€712
down €712 (-63.6%), from €1,120 to €408
- Financial charges -€674
down €674 (-56.2%), from €1,199 to €525
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 | €41,759 | €16,194 | -€25,565 | -61.2% |
| Fixed assets | 21/28 | €13,473 | €8,805 | -€4,668 | -34.6% |
| Tangible fixed assets | 22/27 | €13,473 | €8,805 | -€4,668 | -34.6% |
| Plant, machinery and equipment | 23 | €4,328 | €2,826 | -€1,502 | -34.7% |
| Furniture and vehicles | 24 | €9,145 | €5,979 | -€3,167 | -34.6% |
| Current assets | 29/58 | €28,286 | €7,389 | -€20,897 | -73.9% |
| Amounts receivable within one year | 40/41 | €22,281 | €5,625 | -€16,656 | -74.8% |
| Trade receivables | 40 | €21,964 | €5,625 | -€16,340 | -74.4% |
| Other amounts receivable | 41 | €316 | €0 | -€316 | -100% |
| Cash at bank and in hand | 54/58 | €6,005 | €1,757 | -€4,248 | -70.7% |
| Deferred charges and accrued income | 490/1 | €0 | €7 | +€7 | |
| Total equity and liabilities | 10/49 | €41,759 | €16,194 | -€25,565 | -61.2% |
| Equity | 10/15 | €10,068 | €2,600 | -€7,468 | -74.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €2,704 | €2,704 | = | 0.0% |
| Distributable reserves | 133 | €2,704 | €2,704 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,364 | -€5,104 | -€7,468 | |
| Amounts payable | 17/49 | €31,692 | €13,595 | -€18,097 | -57.1% |
| Amounts payable within one year | 42/48 | €31,692 | €13,595 | -€18,097 | -57.1% |
| Trade debts | 44 | €15,732 | €3,116 | -€12,616 | -80.2% |
| Suppliers | 440/4 | €15,732 | €3,116 | -€12,616 | -80.2% |
| Taxes, remuneration and social security | 45 | €123 | €855 | +€732 | +597% |
| Taxes | 450/3 | €123 | €855 | +€732 | +597% |
| Other amounts payable | 47/48 | €15,838 | €9,624 | -€6,214 | -39.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,993 | €4,668 | +€2,675 | +134% |
| Other operating charges | 640/8 | €1,120 | €408 | -€712 | -63.6% |
| Gross operating margin | 9900 | €1,929 | -€1,747 | -€3,676 | |
| Operating profit (loss) | 9901 | -€1,184 | -€6,823 | -€5,639 | -476% |
| Financial charges | 65/66B | €1,199 | €525 | -€674 | -56.2% |
| Recurring financial charges | 65 | €1,199 | €525 | -€674 | -56.2% |
| Profit (loss) for the period before taxes | 9903 | -€2,383 | -€7,348 | -€4,965 | -208% |
| Income taxes | 67/77 | €123 | €120 | -€3 | -2.1% |
| Profit (loss) for the period | 9904 | -€2,506 | -€7,468 | -€4,962 | -198% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,506 | -€7,468 | -€4,962 | -198% |
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 13 October 2026 via checked.be.