LIES DELOBEL: 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.
LIES DELOBEL
Largest movements
- Receivables after one year +€45,000
up €45,000 (+50.0%), from €90,000 to €135,000
- Tangible fixed assets +€30,695
up €30,695 (+2,222%), from €1,382 to €32,077
of which Furniture and vehicles: +€31,136
- Deferred charges and accrued income -€10,896
no longer reported in 2025 (was €10,896)
- Cash +€7,865
up €7,865 (+5.3%), from €147,836 to €155,701
mainly Net result for the year (+€70,995) and Other debts (+€22,599)
- Reserves +€49,043
up €49,043 (+24.4%), from €200,670 to €249,713
- Other debts +€22,599
up €22,599 (+4,576%), from €494 to €23,093
- Gross operating margin +€22,856
up €22,856 (+29.7%), from €77,016 to €99,872
- Taxes +€5,119
up €5,119 (+24.1%), from €21,232 to €26,351
- Depreciation +€2,226
up €2,226 (+55.5%), from €4,014 to €6,240
- Financial income +€1,377
up €1,377 (+49.1%), from €2,803 to €4,180
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 | €250,114 | €322,777 | +€72,663 | +29.1% |
| Fixed assets | 21/28 | €1,382 | €32,077 | +€30,695 | +2,222% |
| Tangible fixed assets | 22/27 | €1,382 | €32,077 | +€30,695 | +2,222% |
| Furniture and vehicles | 24 | €723 | €31,859 | +€31,136 | +4,304% |
| Other tangible fixed assets | 26 | €658 | €217 | -€441 | -67.0% |
| Current assets | 29/58 | €248,732 | €290,701 | +€41,968 | +16.9% |
| Amounts receivable after more than one year | 29 | €90,000 | €135,000 | +€45,000 | +50.0% |
| Other amounts receivable | 291 | €90,000 | €135,000 | +€45,000 | +50.0% |
| Cash at bank and in hand | 54/58 | €147,836 | €155,701 | +€7,865 | +5.3% |
| Deferred charges and accrued income | 490/1 | €10,896 | - | -€10,896 | |
| Total equity and liabilities | 10/49 | €250,114 | €322,777 | +€72,663 | +29.1% |
| Equity | 10/15 | €235,683 | €284,726 | +€49,043 | +20.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €200,670 | €249,713 | +€49,043 | +24.4% |
| Distributable reserves | 133 | €200,670 | €249,713 | +€49,043 | +24.4% |
| Profit (loss) carried forward | 14 | €28,814 | €28,814 | = | 0.0% |
| Amounts payable | 17/49 | €14,430 | €38,051 | +€23,620 | +164% |
| Amounts payable within one year | 42/48 | €14,430 | €38,051 | +€23,620 | +164% |
| Trade debts | 44 | €209 | - | -€209 | |
| Suppliers | 440/4 | €209 | - | -€209 | |
| Taxes, remuneration and social security | 45 | €13,727 | €14,958 | +€1,231 | +9.0% |
| Taxes | 450/3 | €13,727 | €14,958 | +€1,231 | +9.0% |
| Other amounts payable | 47/48 | €494 | €23,093 | +€22,599 | +4,576% |
| Non-recurring operating income | 76A | - | €9,859 | +€9,859 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,014 | €6,240 | +€2,226 | +55.5% |
| Other operating charges | 640/8 | €538 | €375 | -€163 | -30.3% |
| Gross operating margin | 9900 | €77,016 | €99,872 | +€22,856 | +29.7% |
| Operating profit (loss) | 9901 | €72,465 | €93,258 | +€20,793 | +28.7% |
| Financial income | 75/76B | €2,803 | €4,180 | +€1,377 | +49.1% |
| Recurring financial income | 75 | €2,803 | €4,180 | +€1,377 | +49.1% |
| Financial charges | 65/66B | €96 | €93 | -€4 | -3.6% |
| Recurring financial charges | 65 | €96 | €93 | -€4 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | €75,172 | €97,345 | +€22,174 | +29.5% |
| Income taxes | 67/77 | €21,232 | €26,351 | +€5,119 | +24.1% |
| Profit (loss) for the period | 9904 | €53,939 | €70,995 | +€17,055 | +31.6% |
| Profit (loss) for the period to be appropriated | 9905 | €53,939 | €70,995 | +€17,055 | +31.6% |
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 29 October 2026 via checked.be.