LIEMU: 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.
LIEMU
Largest movements
- Current investments +€65,024
new in 2025: €65,024
- Tangible fixed assets -€60,523
down €60,523 (-6.8%), from €890,180 to €829,657
- Cash -€57,544
down €57,544 (-31.3%), from €183,764 to €126,220
mainly Current investments (-€65,024) and Debts after one year (-€63,494)
- Debts after one year -€63,494
down €63,494 (-36.5%), from €173,723 to €110,229
- Financial income +€1,945
up €1,945 (+1542.9%), from €126 to €2,071
- Gross operating margin +€1,656
up €1,656 (+1.8%), from €94,370 to €96,027
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 | €1,073,944 | €1,021,557 | -€52,387 | -4.9% |
| Fixed assets | 21/28 | €890,180 | €829,657 | -€60,523 | -6.8% |
| Tangible fixed assets | 22/27 | €890,180 | €829,657 | -€60,523 | -6.8% |
| Land and buildings | 22 | €890,180 | €829,657 | -€60,523 | -6.8% |
| Current assets | 29/58 | €183,764 | €191,900 | +€8,136 | +4.4% |
| Amounts receivable within one year | 40/41 | - | €621 | +€621 | |
| Other amounts receivable | 41 | - | €621 | +€621 | |
| Current investments | 50/53 | - | €65,024 | +€65,024 | |
| Cash at bank and in hand | 54/58 | €183,764 | €126,220 | -€57,544 | -31.3% |
| Deferred charges and accrued income | 490/1 | - | €34 | +€34 | |
| Total equity and liabilities | 10/49 | €1,073,944 | €1,021,557 | -€52,387 | -4.9% |
| Equity | 10/15 | €837,612 | €847,084 | +€9,473 | +1.1% |
| Contributions | 10/11 | €850,000 | €850,000 | = | 0.0% |
| Contributions outside capital | 11 | €850,000 | - | -€850,000 | |
| Other | 1109/19 | €850,000 | - | -€850,000 | |
| Reserves | 13 | €1,389 | €1,389 | = | 0.0% |
| Distributable reserves | 133 | €1,389 | €1,389 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,777 | -€4,305 | +€9,473 | +68.8% |
| Amounts payable | 17/49 | €236,332 | €174,473 | -€61,859 | -26.2% |
| Amounts payable after more than one year | 17 | €173,723 | €110,229 | -€63,494 | -36.5% |
| Financial debts | 170/4 | €173,723 | €110,229 | -€63,494 | -36.5% |
| Amounts payable within one year | 42/48 | €62,609 | €64,244 | +€1,635 | +2.6% |
| Current portion of amounts payable after more than one year | 42 | €62,609 | €63,494 | +€885 | +1.4% |
| Trade debts | 44 | - | €750 | +€750 | |
| Suppliers | 440/4 | - | €750 | +€750 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,468 | €73,842 | +€374 | +0.5% |
| Other operating charges | 640/8 | €10,376 | €10,696 | +€320 | +3.1% |
| Gross operating margin | 9900 | €94,370 | €96,027 | +€1,656 | +1.8% |
| Operating profit (loss) | 9901 | €10,526 | €11,489 | +€962 | +9.1% |
| Financial income | 75/76B | €126 | €2,071 | +€1,945 | +1542.9% |
| Recurring financial income | 75 | €126 | €2,071 | +€1,945 | +1542.9% |
| Financial charges | 65/66B | €3,909 | €4,087 | +€178 | +4.5% |
| Recurring financial charges | 65 | €3,909 | €4,087 | +€178 | +4.5% |
| Profit (loss) for the period before taxes | 9903 | €6,743 | €9,473 | +€2,729 | +40.5% |
| Income taxes | 67/77 | €38 | - | -€38 | |
| Profit (loss) for the period | 9904 | €6,705 | €9,473 | +€2,767 | +41.3% |
| Profit (loss) for the period to be appropriated | 9905 | €6,705 | €9,473 | +€2,767 | +41.3% |
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 10 October 2026 via checked.be.