Lievens Project: 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.
Lievens Project
Largest movements
- Stocks and contracts +€182,258
up €182,258 (+38.5%), from €473,413 to €655,671
- Other debts +€163,136
up €163,136 (+78.8%), from €206,899 to €370,036
- Trade debts +€43,010
up €43,010 (+1042.3%), from €4,126 to €47,136
- Profit (loss) carried forward -€14,011
new in 2025: -€14,011
- Tax, wage and social debts -€6,911
no longer reported in 2025 (was €6,911)
- Gross operating margin -€169,215
down €169,215, from €163,085 to -€6,130
- Taxes -€46,911
no longer reported in 2025 (was €46,911)
- Financial charges -€6,066
down €6,066 (-45.2%), from €13,418 to €7,353
- Other operating charges -€1,725
down €1,725 (-76.6%), from €2,253 to €528
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 | €493,966 | €679,191 | +€185,225 | +37.5% |
| Current assets | 29/58 | €493,966 | €679,191 | +€185,225 | +37.5% |
| Stocks and contracts in progress | 3 | €473,413 | €655,671 | +€182,258 | +38.5% |
| Stocks | 30/36 | €473,413 | €655,671 | +€182,258 | +38.5% |
| Amounts receivable within one year | 40/41 | €12,752 | €11,219 | -€1,532 | -12.0% |
| Other amounts receivable | 41 | €12,752 | €11,219 | -€1,532 | -12.0% |
| Cash at bank and in hand | 54/58 | €7,801 | €12,301 | +€4,499 | +57.7% |
| Total equity and liabilities | 10/49 | €493,966 | €679,191 | +€185,225 | +37.5% |
| Equity | 10/15 | €276,029 | €262,019 | -€14,011 | -5.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €269,829 | €269,829 | = | 0.0% |
| Distributable reserves | 133 | €269,829 | €269,829 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€14,011 | -€14,011 | |
| Amounts payable | 17/49 | €217,936 | €417,172 | +€199,236 | +91.4% |
| Amounts payable within one year | 42/48 | €217,936 | €417,172 | +€199,236 | +91.4% |
| Trade debts | 44 | €4,126 | €47,136 | +€43,010 | +1042.3% |
| Suppliers | 440/4 | €4,126 | €47,136 | +€43,010 | +1042.3% |
| Taxes, remuneration and social security | 45 | €6,911 | - | -€6,911 | |
| Taxes | 450/3 | €6,911 | - | -€6,911 | |
| Other amounts payable | 47/48 | €206,899 | €370,036 | +€163,136 | +78.8% |
| Other operating charges | 640/8 | €2,253 | €528 | -€1,725 | -76.6% |
| Gross operating margin | 9900 | €163,085 | -€6,130 | -€169,215 | |
| Operating profit (loss) | 9901 | €160,832 | -€6,658 | -€167,490 | |
| Financial income | 75/76B | €20 | - | -€20 | |
| Recurring financial income | 75 | €20 | - | -€20 | |
| Financial charges | 65/66B | €13,418 | €7,353 | -€6,066 | -45.2% |
| Recurring financial charges | 65 | €13,418 | €7,353 | -€6,066 | -45.2% |
| Profit (loss) for the period before taxes | 9903 | €147,433 | -€14,011 | -€161,444 | |
| Income taxes | 67/77 | €46,911 | - | -€46,911 | |
| Profit (loss) for the period | 9904 | €100,523 | -€14,011 | -€114,533 | |
| Profit (loss) for the period to be appropriated | 9905 | €100,523 | -€14,011 | -€114,533 |
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 6 October 2026 via checked.be.