LIEVEN MARES: 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.
LIEVEN MARES
Largest movements
- Receivables within one year -€90,000
down €90,000 (-34.9%), from €257,767 to €167,767
of which Trade receivables: -€91,568
- Cash +€31,637
up €31,637 (+41.7%), from €75,931 to €107,568
mainly Receivables within one year (+€90,000) and Depreciation (+€25,288)
- Tangible fixed assets -€21,892
down €21,892 (-35.4%), from €61,870 to €39,978
of which Plant, machinery and equipment: -€14,495
- Reserves -€53,531
down €53,531 (-35.9%), from €149,112 to €95,581
- Tax, wage and social debts -€14,877
down €14,877 (-69.8%), from €21,304 to €6,427
of which Taxes: -€8,877
- Other debts -€12,429
down €12,429 (-13.4%), from €92,935 to €80,506
- Trade debts +€4,624
up €4,624 (+176%), from €2,628 to €7,252
- Accrued charges and deferred income -€4,000
no longer reported in 2025 (was €4,000)
- Gross operating margin -€9,850
down €9,850 (-19.1%), from €51,546 to €41,696
- Depreciation -€4,374
down €4,374 (-14.7%), from €29,662 to €25,288
- Other operating charges -€2,392
down €2,392 (-50.3%), from €4,753 to €2,362
- Taxes -€918
down €918 (-18.2%), from €5,055 to €4,137
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 | €399,275 | €319,062 | -€80,213 | -20.1% |
| Fixed assets | 21/28 | €62,005 | €40,113 | -€21,892 | -35.3% |
| Tangible fixed assets | 22/27 | €61,870 | €39,978 | -€21,892 | -35.4% |
| Plant, machinery and equipment | 23 | €41,174 | €26,679 | -€14,495 | -35.2% |
| Furniture and vehicles | 24 | €20,472 | €11,742 | -€8,729 | -42.6% |
| Other tangible fixed assets | 26 | €224 | €1,556 | +€1,332 | +595% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €337,270 | €278,949 | -€58,322 | -17.3% |
| Stocks and contracts in progress | 3 | €1,000 | €1,000 | = | 0.0% |
| Stocks | 30/36 | €1,000 | €1,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €257,767 | €167,767 | -€90,000 | -34.9% |
| Trade receivables | 40 | €257,724 | €166,155 | -€91,568 | -35.5% |
| Other amounts receivable | 41 | €43 | €1,611 | +€1,568 | +3,636% |
| Cash at bank and in hand | 54/58 | €75,931 | €107,568 | +€31,637 | +41.7% |
| Deferred charges and accrued income | 490/1 | €2,572 | €2,614 | +€41 | +1.6% |
| Total equity and liabilities | 10/49 | €399,275 | €319,062 | -€80,213 | -20.1% |
| Equity | 10/15 | €278,408 | €224,876 | -€53,531 | -19.2% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €149,112 | €95,581 | -€53,531 | -35.9% |
| Distributable reserves | 133 | €149,112 | €95,581 | -€53,531 | -35.9% |
| Profit (loss) carried forward | 14 | €116,796 | €116,796 | = | 0.0% |
| Amounts payable | 17/49 | €120,867 | €94,185 | -€26,682 | -22.1% |
| Amounts payable within one year | 42/48 | €116,867 | €94,185 | -€22,682 | -19.4% |
| Trade debts | 44 | €2,628 | €7,252 | +€4,624 | +176% |
| Suppliers | 440/4 | €2,628 | €7,252 | +€4,624 | +176% |
| Taxes, remuneration and social security | 45 | €21,304 | €6,427 | -€14,877 | -69.8% |
| Taxes | 450/3 | €15,304 | €6,427 | -€8,877 | -58.0% |
| Remuneration and social security | 454/9 | €6,000 | - | -€6,000 | |
| Other amounts payable | 47/48 | €92,935 | €80,506 | -€12,429 | -13.4% |
| Accrued charges and deferred income | 492/3 | €4,000 | - | -€4,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,662 | €25,288 | -€4,374 | -14.7% |
| Other operating charges | 640/8 | €4,753 | €2,362 | -€2,392 | -50.3% |
| Gross operating margin | 9900 | €51,546 | €41,696 | -€9,850 | -19.1% |
| Operating profit (loss) | 9901 | €17,131 | €14,046 | -€3,084 | -18.0% |
| Financial income | 75/76B | €1,035 | €532 | -€503 | -48.6% |
| Recurring financial income | 75 | €1,035 | €532 | -€503 | -48.6% |
| Financial charges | 65/66B | €197 | €55 | -€142 | -72.3% |
| Recurring financial charges | 65 | €197 | €55 | -€142 | -72.3% |
| Profit (loss) for the period before taxes | 9903 | €17,969 | €14,524 | -€3,445 | -19.2% |
| Income taxes | 67/77 | €5,055 | €4,137 | -€918 | -18.2% |
| Profit (loss) for the period | 9904 | €12,914 | €10,387 | -€2,527 | -19.6% |
| Profit (loss) for the period to be appropriated | 9905 | €12,914 | €10,387 | -€2,527 | -19.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.