LIETAR LOCATION: 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.
LIETAR LOCATION
Largest movements
- Cash +€328,157
up €328,157 (+123.6%), from €265,402 to €593,559
mainly Depreciation (+€1.4m) and Net result for the year (+€402,335)
- Stocks and contracts -€141,623
down €141,623 (-16.2%), from €874,735 to €733,113
- Receivables within one year +€100,001
up €100,001 (+13.1%), from €765,963 to €865,964
of which Trade receivables: +€71,368
- Deferred charges and accrued income -€67,415
down €67,415 (-44.5%), from €151,634 to €84,220
- Tangible fixed assets +€49,888
up €49,888 (+2.0%), from €2.5m to €2.6m
of which Plant, machinery and equipment: +€71,964
- Current portion of long-term debt +€184,475
up €184,475 (+32.3%), from €571,963 to €756,438
- Other debts +€183,632
up €183,632 (+29.7%), from €617,875 to €801,507
- Trade debts -€106,685
down €106,685 (-26.8%), from €398,259 to €291,574
- Debts after one year +€49,454
up €49,454 (+5.2%), from €955,494 to €1.0m
of which Financial debts: +€229,454
- Gross operating margin -€223,366
down €223,366 (-5.7%), from €3.9m to €3.7m
- Staff costs +€140,244
up €140,244 (+9.6%), from €1.5m to €1.6m
- Write-downs -€105,251
down €105,251, from €80,624 to -€24,628
- Taxes -€40,290
down €40,290 (-21.4%), from €188,320 to €148,030
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 | €4,565,397 | €4,834,406 | +€269,009 | +5.9% |
| Fixed assets | 21/28 | €2,507,663 | €2,557,550 | +€49,888 | +2.0% |
| Tangible fixed assets | 22/27 | €2,507,663 | €2,557,550 | +€49,888 | +2.0% |
| Plant, machinery and equipment | 23 | €2,337,847 | €2,409,812 | +€71,964 | +3.1% |
| Furniture and vehicles | 24 | €123,135 | €110,368 | -€12,767 | -10.4% |
| Other tangible fixed assets | 26 | €46,680 | €37,371 | -€9,309 | -19.9% |
| Current assets | 29/58 | €2,057,734 | €2,276,856 | +€219,121 | +10.6% |
| Stocks and contracts in progress | 3 | €874,735 | €733,113 | -€141,623 | -16.2% |
| Stocks | 30/36 | €874,735 | €733,113 | -€141,623 | -16.2% |
| Amounts receivable within one year | 40/41 | €765,963 | €865,964 | +€100,001 | +13.1% |
| Trade receivables | 40 | €751,845 | €823,213 | +€71,368 | +9.5% |
| Other amounts receivable | 41 | €14,118 | €42,751 | +€28,633 | +202.8% |
| Cash at bank and in hand | 54/58 | €265,402 | €593,559 | +€328,157 | +123.6% |
| Deferred charges and accrued income | 490/1 | €151,634 | €84,220 | -€67,415 | -44.5% |
| Total equity and liabilities | 10/49 | €4,565,397 | €4,834,406 | +€269,009 | +5.9% |
| Equity | 10/15 | €1,653,806 | €1,654,141 | +€335 | 0.0% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €619,672 | €619,672 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,102 | €6,102 | = | 0.0% |
| Distributable reserves | 133 | €588,570 | €588,570 | = | 0.0% |
| Profit (loss) carried forward | 14 | €784,134 | €784,469 | +€335 | 0.0% |
| Amounts payable | 17/49 | €2,911,591 | €3,180,265 | +€268,674 | +9.2% |
| Amounts payable after more than one year | 17 | €955,494 | €1,004,948 | +€49,454 | +5.2% |
| Financial debts | 170/4 | €775,494 | €1,004,948 | +€229,454 | +29.6% |
| Other amounts payable | 178/9 | €180,000 | €0 | -€180,000 | -100.0% |
| Amounts payable within one year | 42/48 | €1,956,098 | €2,175,318 | +€219,220 | +11.2% |
| Current portion of amounts payable after more than one year | 42 | €571,963 | €756,438 | +€184,475 | +32.3% |
| Trade debts | 44 | €398,259 | €291,574 | -€106,685 | -26.8% |
| Suppliers | 440/4 | €398,259 | €291,574 | -€106,685 | -26.8% |
| Taxes, remuneration and social security | 45 | €368,001 | €325,799 | -€42,202 | -11.5% |
| Taxes | 450/3 | €195,648 | €117,444 | -€78,205 | -40.0% |
| Remuneration and social security | 454/9 | €172,353 | €208,355 | +€36,003 | +20.9% |
| Other amounts payable | 47/48 | €617,875 | €801,507 | +€183,632 | +29.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €367,403 | €461,294 | +€93,891 | +25.6% |
| Remuneration, social security and pensions | 62 | €1,459,276 | €1,599,520 | +€140,244 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,481,858 | €1,446,128 | -€35,730 | -2.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €80,624 | -€24,628 | -€105,251 | |
| Other operating charges | 640/8 | €21,415 | €19,911 | -€1,504 | -7.0% |
| Non-recurring operating charges | 66A | €72,403 | €30,200 | -€42,203 | -58.3% |
| Gross operating margin | 9900 | €3,931,536 | €3,708,170 | -€223,366 | -5.7% |
| Operating profit (loss) | 9901 | €815,960 | €637,039 | -€178,921 | -21.9% |
| Financial income | 75/76B | €119 | €2,623 | +€2,504 | +2102.7% |
| Recurring financial income | 75 | €119 | €2,623 | +€2,504 | +2102.7% |
| Financial charges | 65/66B | €99,806 | €89,297 | -€10,509 | -10.5% |
| Recurring financial charges | 65 | €99,806 | €89,297 | -€10,509 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | €716,273 | €550,365 | -€165,908 | -23.2% |
| Income taxes | 67/77 | €188,320 | €148,030 | -€40,290 | -21.4% |
| Profit (loss) for the period | 9904 | €527,953 | €402,335 | -€125,618 | -23.8% |
| Profit (loss) for the period to be appropriated | 9905 | €527,953 | €402,335 | -€125,618 | -23.8% |
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 3 October 2026 via checked.be.