LIEN MAAS: 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.
LIEN MAAS
Largest movements
- Current investments +€111,063
up €111,063 (+83.8%), from €132,560 to €243,622
- Cash -€37,998
down €37,998 (-19.0%), from €199,977 to €161,979
mainly Contributions, distributions and other (-€460,000) and Current investments (-€111,063)
- Tangible fixed assets -€13,992
down €13,992 (-24.8%), from €56,348 to €42,356
of which Furniture and vehicles: -€21,855
- Receivables within one year -€5,513
down €5,513 (-9.3%), from €59,133 to €53,620
of which Other amounts receivable: -€2,920
- Other debts +€390,891
up €390,891 (+18,767%), from €2,083 to €392,974
- Profit (loss) carried forward -€332,836
down €332,836 (-79.5%), from €418,868 to €86,032
- Gross operating margin +€47,685
up €47,685 (+37.8%), from €126,158 to €173,843
- Taxes +€13,076
up €13,076 (+56.1%), from €23,289 to €36,364
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 | €448,017 | €502,851 | +€54,835 | +12.2% |
| Fixed assets | 21/28 | €56,348 | €42,356 | -€13,992 | -24.8% |
| Tangible fixed assets | 22/27 | €56,348 | €42,356 | -€13,992 | -24.8% |
| Plant, machinery and equipment | 23 | - | €7,863 | +€7,863 | |
| Furniture and vehicles | 24 | €56,348 | €34,493 | -€21,855 | -38.8% |
| Current assets | 29/58 | €391,669 | €460,496 | +€68,826 | +17.6% |
| Amounts receivable within one year | 40/41 | €59,133 | €53,620 | -€5,513 | -9.3% |
| Trade receivables | 40 | €22,687 | €20,094 | -€2,593 | -11.4% |
| Other amounts receivable | 41 | €36,446 | €33,526 | -€2,920 | -8.0% |
| Current investments | 50/53 | €132,560 | €243,622 | +€111,063 | +83.8% |
| Cash at bank and in hand | 54/58 | €199,977 | €161,979 | -€37,998 | -19.0% |
| Deferred charges and accrued income | 490/1 | - | €1,275 | +€1,275 | |
| Total equity and liabilities | 10/49 | €448,017 | €502,851 | +€54,835 | +12.2% |
| Equity | 10/15 | €439,273 | €106,437 | -€332,836 | -75.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €418,868 | €86,032 | -€332,836 | -79.5% |
| Amounts payable | 17/49 | €8,744 | €396,414 | +€387,671 | +4,434% |
| Amounts payable within one year | 42/48 | €6,944 | €396,414 | +€389,471 | +5,609% |
| Trade debts | 44 | €2,761 | €1,341 | -€1,421 | -51.5% |
| Suppliers | 440/4 | €2,761 | €1,341 | -€1,421 | -51.5% |
| Taxes, remuneration and social security | 45 | €2,100 | €2,100 | = | 0.0% |
| Remuneration and social security | 454/9 | €2,100 | €2,100 | = | 0.0% |
| Other amounts payable | 47/48 | €2,083 | €392,974 | +€390,891 | +18,767% |
| Accrued charges and deferred income | 492/3 | €1,800 | - | -€1,800 | |
| Non-recurring operating income | 76A | €12,000 | - | -€12,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,674 | €15,322 | +€648 | +4.4% |
| Other operating charges | 640/8 | €62 | €125 | +€63 | +102% |
| Gross operating margin | 9900 | €126,158 | €173,843 | +€47,685 | +37.8% |
| Operating profit (loss) | 9901 | €111,422 | €158,396 | +€46,973 | +42.2% |
| Financial income | 75/76B | €6,082 | €5,428 | -€654 | -10.8% |
| Recurring financial income | 75 | €6,082 | €5,428 | -€654 | -10.8% |
| Financial charges | 65/66B | €433 | €295 | -€138 | -31.9% |
| Recurring financial charges | 65 | €433 | €295 | -€138 | -31.9% |
| Profit (loss) for the period before taxes | 9903 | €117,072 | €163,528 | +€46,457 | +39.7% |
| Income taxes | 67/77 | €23,289 | €36,364 | +€13,076 | +56.1% |
| Profit (loss) for the period | 9904 | €93,783 | €127,164 | +€33,381 | +35.6% |
| Profit (loss) for the period to be appropriated | 9905 | €93,783 | €127,164 | +€33,381 | +35.6% |
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 15 October 2026 via checked.be.