LIEMER: 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.
LIEMER
Largest movements
- Current investments -€150,000
no longer reported in 2025 (was €150,000)
- Cash +€107,747
up €107,747 (+154%), from €70,091 to €177,838
mainly Other debts (+€211,247) and Current investments (+€150,000)
- Receivables within one year +€57,069
up €57,069 (+38.9%), from €146,643 to €203,712
of which Other amounts receivable: +€42,741
- Tangible fixed assets +€26,104
up €26,104 (+85.8%), from €30,413 to €56,516
- Other debts +€211,247
up €211,247 (+342%), from €61,746 to €272,993
- Reserves -€169,847
down €169,847 (-49.9%), from €340,703 to €170,856
- Financial income +€9,385
up €9,385 (+226%), from €4,160 to €13,545
- Depreciation +€2,670
up €2,670 (+16.4%), from €16,259 to €18,928
- Taxes +€2,361
up €2,361 (+10.7%), from €21,966 to €24,327
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 | €454,635 | €498,267 | +€43,632 | +9.6% |
| Fixed assets | 21/28 | €80,477 | €106,580 | +€26,104 | +32.4% |
| Tangible fixed assets | 22/27 | €30,413 | €56,516 | +€26,104 | +85.8% |
| Furniture and vehicles | 24 | €30,413 | €56,516 | +€26,104 | +85.8% |
| Financial fixed assets | 28 | €50,064 | €50,064 | = | 0.0% |
| Current assets | 29/58 | €374,158 | €391,687 | +€17,529 | +4.7% |
| Amounts receivable within one year | 40/41 | €146,643 | €203,712 | +€57,069 | +38.9% |
| Trade receivables | 40 | €14,520 | €28,848 | +€14,328 | +98.7% |
| Other amounts receivable | 41 | €132,123 | €174,865 | +€42,741 | +32.3% |
| Current investments | 50/53 | €150,000 | - | -€150,000 | |
| Cash at bank and in hand | 54/58 | €70,091 | €177,838 | +€107,747 | +154% |
| Deferred charges and accrued income | 490/1 | €7,423 | €10,136 | +€2,713 | +36.5% |
| Total equity and liabilities | 10/49 | €454,635 | €498,267 | +€43,632 | +9.6% |
| Equity | 10/15 | €360,703 | €190,856 | -€169,847 | -47.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €340,703 | €170,856 | -€169,847 | -49.9% |
| Distributable reserves | 133 | €340,703 | €170,856 | -€169,847 | -49.9% |
| Amounts payable | 17/49 | €93,932 | €307,411 | +€213,479 | +227% |
| Amounts payable within one year | 42/48 | €93,138 | €306,081 | +€212,943 | +229% |
| Trade debts | 44 | €5,989 | €7,528 | +€1,540 | +25.7% |
| Suppliers | 440/4 | €5,989 | €7,528 | +€1,540 | +25.7% |
| Taxes, remuneration and social security | 45 | €25,403 | €25,560 | +€157 | +0.6% |
| Taxes | 450/3 | €25,403 | €25,560 | +€157 | +0.6% |
| Other amounts payable | 47/48 | €61,746 | €272,993 | +€211,247 | +342% |
| Accrued charges and deferred income | 492/3 | €794 | €1,329 | +€536 | +67.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,259 | €18,928 | +€2,670 | +16.4% |
| Other operating charges | 640/8 | €2,394 | €1,512 | -€883 | -36.9% |
| Gross operating margin | 9900 | €112,928 | €112,942 | +€14 | 0.0% |
| Operating profit (loss) | 9901 | €94,275 | €92,502 | -€1,773 | -1.9% |
| Financial income | 75/76B | €4,160 | €13,545 | +€9,385 | +226% |
| Recurring financial income | 75 | €4,160 | €13,545 | +€9,385 | +226% |
| Financial charges | 65/66B | €1,078 | €1,566 | +€489 | +45.3% |
| Recurring financial charges | 65 | €1,078 | €1,566 | +€489 | +45.3% |
| Profit (loss) for the period before taxes | 9903 | €97,357 | €104,481 | +€7,123 | +7.3% |
| Income taxes | 67/77 | €21,966 | €24,327 | +€2,361 | +10.7% |
| Profit (loss) for the period | 9904 | €75,391 | €80,153 | +€4,762 | +6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €75,391 | €80,153 | +€4,762 | +6.3% |
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 14 October 2026 via checked.be.