LIEVERAEDT: 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.
LIEVERAEDT
Largest movements
- Receivables within one year -€78,051
down €78,051 (-94.3%), from €82,807 to €4,757
of which Other amounts receivable: -€77,211
- Current investments -€50,000
no longer reported in 2025 (was €50,000)
- Cash -€46,818
down €46,818 (-63.3%), from €73,978 to €27,160
mainly Net result for the year (-€137,466) and Investment in fixed assets (net) (-€38,811)
- Intangible fixed assets +€23,638
new in 2025: €23,638
- Tangible fixed assets +€9,713
up €9,713 (+79.1%), from €12,283 to €21,997
of which Furniture and vehicles: +€12,113
- Profit (loss) carried forward -€135,606
new in 2025: -€135,606
- Tax, wage and social debts -€2,803
down €2,803 (-59.0%), from €4,753 to €1,950
- Other debts -€2,395
down €2,395 (-17.9%), from €13,376 to €10,982
- Gross operating margin -€68,122
down €68,122, from €16,661 to -€51,461
- Financial charges +€14,909
up €14,909 (+7,323%), from €204 to €15,112
of which Non-recurring financial charges: +€15,000
- Taxes -€3,779
down €3,779 (-95.8%), from €3,946 to €167
- Depreciation +€1,959
up €1,959 (+56.0%), from €3,500 to €5,459
- Financial income +€1,925
up €1,925 (+149%), from €1,295 to €3,220
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 | €220,778 | €78,775 | -€142,003 | -64.3% |
| Fixed assets | 21/28 | €12,283 | €45,635 | +€33,352 | +272% |
| Intangible fixed assets | 21 | - | €23,638 | +€23,638 | |
| Tangible fixed assets | 22/27 | €12,283 | €21,997 | +€9,713 | +79.1% |
| Furniture and vehicles | 24 | €3,900 | €16,013 | +€12,113 | +311% |
| Other tangible fixed assets | 26 | €8,384 | €5,984 | -€2,400 | -28.6% |
| Current assets | 29/58 | €208,495 | €33,140 | -€175,355 | -84.1% |
| Amounts receivable within one year | 40/41 | €82,807 | €4,757 | -€78,051 | -94.3% |
| Trade receivables | 40 | €2,202 | €1,362 | -€840 | -38.1% |
| Other amounts receivable | 41 | €80,605 | €3,394 | -€77,211 | -95.8% |
| Current investments | 50/53 | €50,000 | - | -€50,000 | |
| Cash at bank and in hand | 54/58 | €73,978 | €27,160 | -€46,818 | -63.3% |
| Deferred charges and accrued income | 490/1 | €1,710 | €1,224 | -€486 | -28.4% |
| Total equity and liabilities | 10/49 | €220,778 | €78,775 | -€142,003 | -64.3% |
| Equity | 10/15 | €201,255 | €63,788 | -€137,466 | -68.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €195,055 | €193,195 | -€1,860 | -1.0% |
| Distributable reserves | 133 | €195,055 | €193,195 | -€1,860 | -1.0% |
| Profit (loss) carried forward | 14 | - | -€135,606 | -€135,606 | |
| Amounts payable | 17/49 | €19,523 | €14,987 | -€4,537 | -23.2% |
| Amounts payable within one year | 42/48 | €19,523 | €14,987 | -€4,537 | -23.2% |
| Trade debts | 44 | €1,395 | €2,055 | +€661 | +47.4% |
| Suppliers | 440/4 | €1,395 | €2,055 | +€661 | +47.4% |
| Taxes, remuneration and social security | 45 | €4,753 | €1,950 | -€2,803 | -59.0% |
| Taxes | 450/3 | €4,753 | €1,950 | -€2,803 | -59.0% |
| Other amounts payable | 47/48 | €13,376 | €10,982 | -€2,395 | -17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,500 | €5,459 | +€1,959 | +56.0% |
| Other operating charges | 640/8 | €840 | €1,393 | +€553 | +65.8% |
| Non-recurring operating charges | 66A | - | €67,094 | +€67,094 | |
| Gross operating margin | 9900 | €16,661 | -€51,461 | -€68,122 | |
| Operating profit (loss) | 9901 | €12,320 | -€125,407 | -€137,727 | |
| Financial income | 75/76B | €1,295 | €3,220 | +€1,925 | +149% |
| Recurring financial income | 75 | €1,295 | €3,220 | +€1,925 | +149% |
| Financial charges | 65/66B | €204 | €15,112 | +€14,909 | +7,323% |
| Recurring financial charges | 65 | €204 | €112 | -€91 | -44.8% |
| Non-recurring financial charges | 66B | - | €15,000 | +€15,000 | |
| Profit (loss) for the period before taxes | 9903 | €13,412 | -€137,300 | -€150,711 | |
| Income taxes | 67/77 | €3,946 | €167 | -€3,779 | -95.8% |
| Profit (loss) for the period | 9904 | €9,466 | -€137,466 | -€146,932 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,466 | -€137,466 | -€146,932 |
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 16 October 2026 via checked.be.