LIESL: what changed
Two fiscal 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.
LIESL
Largest movements
- Tangible fixed assets -€7,254
down €7,254 (-30.8%), from €23,551 to €16,297
- Cash -€1,192
down €1,192 (-42.0%), from €2,836 to €1,644
mainly Debts after one year (-€9,434) and Net result for the year (-€5,200)
- Debts after one year -€9,434
down €9,434 (-79.8%), from €11,816 to €2,382
- Other debts +€5,806
up €5,806 (+42.2%), from €13,753 to €19,559
- Profit (loss) carried forward -€5,200
down €5,200 (-47.3%), from -€10,993 to -€16,193
- Gross operating margin -€4,106
down €4,106 (-54.0%), from €7,609 to €3,503
- Financial charges -€215
down €215 (-22.1%), from €971 to €756
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 | €26,977 | €18,576 | -€8,401 | -31.1% |
| Fixed assets | 21/28 | €23,551 | €16,297 | -€7,254 | -30.8% |
| Tangible fixed assets | 22/27 | €23,551 | €16,297 | -€7,254 | -30.8% |
| Furniture and vehicles | 24 | €23,551 | €16,297 | -€7,254 | -30.8% |
| Current assets | 29/58 | €3,427 | €2,280 | -€1,147 | -33.5% |
| Cash at bank and in hand | 54/58 | €2,836 | €1,644 | -€1,192 | -42.0% |
| Deferred charges and accrued income | 490/1 | €591 | €635 | +€44 | +7.5% |
| Total equity and liabilities | 10/49 | €26,977 | €18,576 | -€8,401 | -31.1% |
| Equity | 10/15 | -€9,993 | -€15,193 | -€5,200 | -52.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,993 | -€16,193 | -€5,200 | -47.3% |
| Amounts payable | 17/49 | €36,970 | €33,769 | -€3,201 | -8.7% |
| Amounts payable after more than one year | 17 | €11,816 | €2,382 | -€9,434 | -79.8% |
| Financial debts | 170/4 | €11,816 | €2,382 | -€9,434 | -79.8% |
| Amounts payable within one year | 42/48 | €25,154 | €31,387 | +€6,233 | +24.8% |
| Current portion of amounts payable after more than one year | 42 | €9,289 | €9,434 | +€145 | +1.6% |
| Financial debts | 43 | - | €17 | +€17 | |
| Credit institutions | 430/8 | - | €17 | +€17 | |
| Trade debts | 44 | €1,891 | €2,138 | +€248 | +13.1% |
| Suppliers | 440/4 | €1,891 | €2,138 | +€248 | +13.1% |
| Taxes, remuneration and social security | 45 | €222 | €239 | +€17 | +7.7% |
| Taxes | 450/3 | €222 | €239 | +€17 | +7.7% |
| Other amounts payable | 47/48 | €13,753 | €19,559 | +€5,806 | +42.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,254 | €7,254 | = | 0.0% |
| Other operating charges | 640/8 | €614 | €560 | -€53 | -8.7% |
| Gross operating margin | 9900 | €7,609 | €3,503 | -€4,106 | -54.0% |
| Operating profit (loss) | 9901 | -€259 | -€4,311 | -€4,053 | -1566.4% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €971 | €756 | -€215 | -22.1% |
| Recurring financial charges | 65 | €971 | €756 | -€215 | -22.1% |
| Profit (loss) for the period before taxes | 9903 | -€1,230 | -€5,068 | -€3,838 | -312.1% |
| Income taxes | 67/77 | €107 | €132 | +€25 | +23.7% |
| Profit (loss) for the period | 9904 | -€1,337 | -€5,200 | -€3,863 | -289.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,337 | -€5,200 | -€3,863 | -289.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.