LIETAER: 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.
LIETAER
Largest movements
- Cash +€14,826
up €14,826 (+21.0%), from €70,440 to €85,266
mainly Net result for the year (+€47,009) and Receivables within one year (+€12,710)
- Receivables within one year -€12,710
down €12,710 (-28.3%), from €44,924 to €32,214
of which Other amounts receivable: -€9,682
- Tangible fixed assets +€9,398
up €9,398 (+173%), from €5,423 to €14,820
- Deferred charges and accrued income +€6,636
up €6,636 (+882%), from €753 to €7,388
- Reserves +€17,687
up €17,687 (+38.7%), from €45,731 to €63,417
- Other debts +€9,173
up €9,173 (+50.8%), from €18,048 to €27,221
- Tax, wage and social debts -€6,435
down €6,435 (-32.5%), from €19,807 to €13,372
- Trade debts -€2,179
down €2,179 (-76.3%), from €2,857 to €678
- Gross operating margin +€33,452
up €33,452 (+91.2%), from €36,695 to €70,148
- Taxes +€10,950
up €10,950 (+123%), from €8,874 to €19,824
- Depreciation +€1,328
up €1,328 (+94.7%), from €1,403 to €2,731
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 | €121,539 | €139,689 | +€18,149 | +14.9% |
| Fixed assets | 21/28 | €5,423 | €14,820 | +€9,398 | +173% |
| Tangible fixed assets | 22/27 | €5,423 | €14,820 | +€9,398 | +173% |
| Furniture and vehicles | 24 | €5,423 | €14,820 | +€9,398 | +173% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €116,117 | €124,868 | +€8,751 | +7.5% |
| Amounts receivable within one year | 40/41 | €44,924 | €32,214 | -€12,710 | -28.3% |
| Trade receivables | 40 | €6,028 | €3,000 | -€3,028 | -50.2% |
| Other amounts receivable | 41 | €38,897 | €29,214 | -€9,682 | -24.9% |
| Cash at bank and in hand | 54/58 | €70,440 | €85,266 | +€14,826 | +21.0% |
| Deferred charges and accrued income | 490/1 | €753 | €7,388 | +€6,636 | +882% |
| Total equity and liabilities | 10/49 | €121,539 | €139,689 | +€18,149 | +14.9% |
| Equity | 10/15 | €80,731 | €98,417 | +€17,687 | +21.9% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Reserves | 13 | €45,731 | €63,417 | +€17,687 | +38.7% |
| Distributable reserves | 133 | €45,731 | €63,417 | +€17,687 | +38.7% |
| Amounts payable | 17/49 | €40,809 | €41,271 | +€462 | +1.1% |
| Amounts payable within one year | 42/48 | €40,809 | €41,271 | +€462 | +1.1% |
| Financial debts | 43 | €97 | - | -€97 | |
| Credit institutions | 430/8 | €97 | - | -€97 | |
| Trade debts | 44 | €2,857 | €678 | -€2,179 | -76.3% |
| Suppliers | 440/4 | €2,857 | €678 | -€2,179 | -76.3% |
| Taxes, remuneration and social security | 45 | €19,807 | €13,372 | -€6,435 | -32.5% |
| Taxes | 450/3 | €19,807 | €13,372 | -€6,435 | -32.5% |
| Other amounts payable | 47/48 | €18,048 | €27,221 | +€9,173 | +50.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,403 | €2,731 | +€1,328 | +94.7% |
| Other operating charges | 640/8 | €406 | €400 | -€7 | -1.6% |
| Gross operating margin | 9900 | €36,695 | €70,148 | +€33,452 | +91.2% |
| Operating profit (loss) | 9901 | €34,886 | €67,017 | +€32,131 | +92.1% |
| Financial income | 75/76B | €11 | €5 | -€6 | -53.7% |
| Recurring financial income | 75 | €11 | €5 | -€6 | -53.7% |
| Financial charges | 65/66B | €241 | €189 | -€51 | -21.4% |
| Recurring financial charges | 65 | €241 | €189 | -€51 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | €34,656 | €66,833 | +€32,177 | +92.8% |
| Income taxes | 67/77 | €8,874 | €19,824 | +€10,950 | +123% |
| Profit (loss) for the period | 9904 | €25,783 | €47,009 | +€21,227 | +82.3% |
| Profit (loss) for the period to be appropriated | 9905 | €25,783 | €47,009 | +€21,227 | +82.3% |
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 28 October 2026 via checked.be.