LIERMAN VASTGOED: what changed
LIERMAN VASTGOED
Largest movements
- Tangible fixed assets +€663,846
up €663,846 (+214%), from €310,588 to €974,433
of which Land and buildings: +€586,467
- Stocks and contracts -€386,141
no longer reported in 2025 (was €386,141)
- Receivables within one year +€85,680
up €85,680 (+95.4%), from €89,767 to €175,446
- Cash +€55,498
up €55,498 (+125%), from €44,575 to €100,073
mainly Stocks and contracts (+€386,141) and Debts after one year (+€235,543)
- Debts after one year +€235,543
up €235,543 (+45.9%), from €513,127 to €748,670
- Reserves +€162,748
up €162,748 (+134%), from €121,769 to €284,517
- Other debts -€76,905
down €76,905 (-89.8%), from €85,655 to €8,750
- Trade debts +€55,002
up €55,002 (+98.3%), from €55,952 to €110,954
- Current portion of long-term debt +€25,000
up €25,000 (+174%), from €14,333 to €39,333
- Gross operating margin +€175,639
up €175,639 (+52.5%), from €334,483 to €510,122
- Staff costs +€34,538
up €34,538 (+25.0%), from €138,215 to €172,753
- Depreciation +€25,614
up €25,614 (+138%), from €18,500 to €44,114
- Taxes +€24,560
up €24,560 (+68.8%), from €35,712 to €60,272
- Write-downs +€19,482
new in 2025: €19,482
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €833,023 | €1,250,385 | +€417,361 | +50.1% |
| Fixed assets | 21/28 | €310,588 | €974,433 | +€663,846 | +214% |
| Tangible fixed assets | 22/27 | €310,588 | €974,433 | +€663,846 | +214% |
| Land and buildings | 22 | €266,701 | €853,168 | +€586,467 | +220% |
| Furniture and vehicles | 24 | €33,940 | €24,743 | -€9,197 | -27.1% |
| Other tangible fixed assets | 26 | €9,946 | €96,522 | +€86,576 | +870% |
| Current assets | 29/58 | €522,436 | €275,951 | -€246,484 | -47.2% |
| Stocks and contracts in progress | 3 | €386,141 | - | -€386,141 | |
| Stocks | 30/36 | €386,141 | - | -€386,141 | |
| Amounts receivable within one year | 40/41 | €89,767 | €175,446 | +€85,680 | +95.4% |
| Trade receivables | 40 | €89,767 | €175,446 | +€85,680 | +95.4% |
| Cash at bank and in hand | 54/58 | €44,575 | €100,073 | +€55,498 | +125% |
| Deferred charges and accrued income | 490/1 | €1,953 | €432 | -€1,521 | -77.9% |
| Total equity and liabilities | 10/49 | €833,023 | €1,250,385 | +€417,361 | +50.1% |
| Equity | 10/15 | €126,769 | €289,517 | +€162,748 | +128% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €121,769 | €284,517 | +€162,748 | +134% |
| Distributable reserves | 133 | €121,769 | €284,517 | +€162,748 | +134% |
| Amounts payable | 17/49 | €706,254 | €960,867 | +€254,613 | +36.1% |
| Amounts payable after more than one year | 17 | €513,127 | €748,670 | +€235,543 | +45.9% |
| Financial debts | 170/4 | €513,127 | €748,670 | +€235,543 | +45.9% |
| Amounts payable within one year | 42/48 | €193,127 | €212,197 | +€19,070 | +9.9% |
| Current portion of amounts payable after more than one year | 42 | €14,333 | €39,333 | +€25,000 | +174% |
| Trade debts | 44 | €55,952 | €110,954 | +€55,002 | +98.3% |
| Suppliers | 440/4 | €55,952 | €110,954 | +€55,002 | +98.3% |
| Taxes, remuneration and social security | 45 | €37,187 | €53,160 | +€15,972 | +43.0% |
| Taxes | 450/3 | €26,673 | €22,066 | -€4,607 | -17.3% |
| Remuneration and social security | 454/9 | €10,515 | €31,094 | +€20,579 | +196% |
| Other amounts payable | 47/48 | €85,655 | €8,750 | -€76,905 | -89.8% |
| Non-recurring operating income | 76A | - | €38,859 | +€38,859 | |
| Remuneration, social security and pensions | 62 | €138,215 | €172,753 | +€34,538 | +25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,500 | €44,114 | +€25,614 | +138% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €19,482 | +€19,482 | |
| Other operating charges | 640/8 | €8,922 | €6,725 | -€2,197 | -24.6% |
| Non-recurring operating charges | 66A | €7,641 | - | -€7,641 | |
| Gross operating margin | 9900 | €334,483 | €510,122 | +€175,639 | +52.5% |
| Operating profit (loss) | 9901 | €161,203 | €267,047 | +€105,844 | +65.7% |
| Financial income | 75/76B | €0 | €0 | +€0 | +3,900% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +3,900% |
| Financial charges | 65/66B | €32,465 | €44,027 | +€11,562 | +35.6% |
| Recurring financial charges | 65 | €32,465 | €44,027 | +€11,562 | +35.6% |
| Profit (loss) for the period before taxes | 9903 | €128,738 | €223,020 | +€94,283 | +73.2% |
| Income taxes | 67/77 | €35,712 | €60,272 | +€24,560 | +68.8% |
| Profit (loss) for the period | 9904 | €93,026 | €162,748 | +€69,722 | +74.9% |
| Profit (loss) for the period to be appropriated | 9905 | €93,026 | €162,748 | +€69,722 | +74.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.