Lietho: 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.
Lietho
Largest movements
- Tangible fixed assets +€173,558
up €173,558 (+6.6%), from €2.6m to €2.8m
of which Land and buildings: +€205,815
- Cash +€81,208
up €81,208 (+29.0%), from €280,420 to €361,628
mainly Other debts (+€440,707) and Net result for the year (+€362,076)
- Receivables within one year -€49,845
down €49,845 (-89.0%), from €56,008 to €6,163
of which Trade receivables: -€52,727
- Other debts +€440,707
up €440,707 (+79.2%), from €556,526 to €997,233
- Debts after one year -€157,935
down €157,935 (-6.3%), from €2.5m to €2.3m
- Reserves -€124,000
down €124,000 (-26.6%), from €465,860 to €341,860
- Gross operating margin -€50,935
down €50,935 (-5.4%), from €939,380 to €888,444
- Taxes -€36,010
down €36,010 (-22.0%), from €164,035 to €128,025
- Other operating charges +€30,293
up €30,293 (+322.3%), from €9,399 to €39,692
- Staff costs +€29,849
up €29,849 (+29.5%), from €101,263 to €131,111
- Depreciation +€23,102
up €23,102 (+18.6%), from €124,396 to €147,498
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 | €3,829,633 | €4,015,913 | +€186,280 | +4.9% |
| Fixed assets | 21/28 | €2,788,713 | €2,942,271 | +€153,558 | +5.5% |
| Intangible fixed assets | 21 | €141,644 | €121,644 | -€20,000 | -14.1% |
| Tangible fixed assets | 22/27 | €2,647,019 | €2,820,578 | +€173,558 | +6.6% |
| Land and buildings | 22 | €2,515,201 | €2,721,017 | +€205,815 | +8.2% |
| Furniture and vehicles | 24 | €131,818 | €99,561 | -€32,257 | -24.5% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €1,040,920 | €1,073,641 | +€32,721 | +3.1% |
| Stocks and contracts in progress | 3 | €187,480 | €186,152 | -€1,328 | -0.7% |
| Stocks | 30/36 | €187,480 | €186,152 | -€1,328 | -0.7% |
| Amounts receivable within one year | 40/41 | €56,008 | €6,163 | -€49,845 | -89.0% |
| Trade receivables | 40 | €55,196 | €2,469 | -€52,727 | -95.5% |
| Other amounts receivable | 41 | €812 | €3,694 | +€2,882 | +354.9% |
| Current investments | 50/53 | €503,705 | €507,716 | +€4,011 | +0.8% |
| Cash at bank and in hand | 54/58 | €280,420 | €361,628 | +€81,208 | +29.0% |
| Deferred charges and accrued income | 490/1 | €13,306 | €11,982 | -€1,324 | -10.0% |
| Total equity and liabilities | 10/49 | €3,829,633 | €4,015,913 | +€186,280 | +4.9% |
| Equity | 10/15 | €486,892 | €362,892 | -€124,000 | -25.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €465,860 | €341,860 | -€124,000 | -26.6% |
| Distributable reserves | 133 | €465,860 | €341,860 | -€124,000 | -26.6% |
| Profit (loss) carried forward | 14 | €2,432 | €2,432 | = | 0.0% |
| Amounts payable | 17/49 | €3,342,741 | €3,653,021 | +€310,280 | +9.3% |
| Amounts payable after more than one year | 17 | €2,493,378 | €2,335,443 | -€157,935 | -6.3% |
| Financial debts | 170/4 | €2,493,378 | €2,335,443 | -€157,935 | -6.3% |
| Amounts payable within one year | 42/48 | €849,363 | €1,316,777 | +€467,414 | +55.0% |
| Current portion of amounts payable after more than one year | 42 | €116,751 | €152,367 | +€35,616 | +30.5% |
| Trade debts | 44 | €69,644 | €65,608 | -€4,036 | -5.8% |
| Suppliers | 440/4 | €69,644 | €65,608 | -€4,036 | -5.8% |
| Advances received on contracts in progress | 46 | €2,639 | €2,639 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €103,803 | €98,930 | -€4,873 | -4.7% |
| Taxes | 450/3 | €85,122 | €87,251 | +€2,129 | +2.5% |
| Remuneration and social security | 454/9 | €18,681 | €11,679 | -€7,002 | -37.5% |
| Other amounts payable | 47/48 | €556,526 | €997,233 | +€440,707 | +79.2% |
| Accrued charges and deferred income | 492/3 | - | €801 | +€801 | |
| Non-recurring operating income | 76A | €9,773 | €1,555 | -€8,219 | -84.1% |
| Remuneration, social security and pensions | 62 | €101,263 | €131,111 | +€29,849 | +29.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,396 | €147,498 | +€23,102 | +18.6% |
| Other operating charges | 640/8 | €9,399 | €39,692 | +€30,293 | +322.3% |
| Gross operating margin | 9900 | €939,380 | €888,444 | -€50,935 | -5.4% |
| Operating profit (loss) | 9901 | €704,322 | €570,143 | -€134,179 | -19.1% |
| Financial income | 75/76B | €8,094 | €8,418 | +€325 | +4.0% |
| Recurring financial income | 75 | €8,094 | €8,418 | +€325 | +4.0% |
| Financial charges | 65/66B | €91,898 | €88,460 | -€3,438 | -3.7% |
| Recurring financial charges | 65 | €91,898 | €88,460 | -€3,438 | -3.7% |
| Profit (loss) for the period before taxes | 9903 | €620,517 | €490,101 | -€130,416 | -21.0% |
| Income taxes | 67/77 | €164,035 | €128,025 | -€36,010 | -22.0% |
| Profit (loss) for the period | 9904 | €456,482 | €362,076 | -€94,406 | -20.7% |
| Profit (loss) for the period to be appropriated | 9905 | €456,482 | €362,076 | -€94,406 | -20.7% |
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 11 October 2026 via checked.be.