LIEVROUW: what changed
LIEVROUW
Largest movements
- Tangible fixed assets -€7,691
down €7,691 (-26.7%), from €28,851 to €21,160
of which Furniture and vehicles: -€4,347
- Receivables within one year +€4,300
up €4,300 (+46.1%), from €9,323 to €13,623
- Stocks and contracts -€3,903
down €3,903 (-3.8%), from €102,381 to €98,477
- Cash -€2,552
down €2,552 (-10.5%), from €24,204 to €21,651
mainly Net result for the year (-€5,334) and Receivables within one year (-€4,300)
- Reserves -€5,334
down €5,334 (-6.2%), from €85,939 to €80,605
of which Non-distributable reserves: -€4,338
- Trade debts +€4,491
up €4,491 (+319%), from €1,406 to €5,898
- Debts after one year -€4,052
down €4,052 (-41.6%), from €9,745 to €5,693
- Tax, wage and social debts -€3,778
down €3,778 (-87.2%), from €4,335 to €557
- Gross operating margin -€2,502
down €2,502 (-30.5%), from €8,203 to €5,701
- Financial income +€136
up €136 (+1,327%), from €10 to €146
- Financial charges -€126
down €126 (-7.3%), from €1,729 to €1,603
- Other operating charges -€114
down €114 (-6.7%), from €1,714 to €1,600
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €169,558 | €159,725 | -€9,833 | -5.8% |
| Fixed assets | 21/28 | €28,851 | €21,160 | -€7,691 | -26.7% |
| Tangible fixed assets | 22/27 | €28,851 | €21,160 | -€7,691 | -26.7% |
| Plant, machinery and equipment | 23 | €156 | €0 | -€156 | -100% |
| Furniture and vehicles | 24 | €8,573 | €4,225 | -€4,347 | -50.7% |
| Other tangible fixed assets | 26 | €20,123 | €16,935 | -€3,188 | -15.8% |
| Current assets | 29/58 | €140,706 | €138,564 | -€2,142 | -1.5% |
| Stocks and contracts in progress | 3 | €102,381 | €98,477 | -€3,903 | -3.8% |
| Stocks | 30/36 | €102,381 | €98,477 | -€3,903 | -3.8% |
| Amounts receivable within one year | 40/41 | €9,323 | €13,623 | +€4,300 | +46.1% |
| Trade receivables | 40 | €9,323 | €13,623 | +€4,300 | +46.1% |
| Cash at bank and in hand | 54/58 | €24,204 | €21,651 | -€2,552 | -10.5% |
| Deferred charges and accrued income | 490/1 | €4,799 | €4,812 | +€13 | +0.3% |
| Total equity and liabilities | 10/49 | €169,558 | €159,725 | -€9,833 | -5.8% |
| Equity | 10/15 | €129,320 | €123,986 | -€5,334 | -4.1% |
| Contributions | 10/11 | €43,381 | €43,381 | = | 0.0% |
| Reserves | 13 | €85,939 | €80,605 | -€5,334 | -6.2% |
| Non-distributable reserves | 130/1 | €4,338 | €0 | -€4,338 | -100% |
| Reserves not available under the articles | 1311 | €4,338 | €0 | -€4,338 | -100% |
| Tax-exempt reserves | 132 | €2,107 | €2,107 | = | 0.0% |
| Distributable reserves | 133 | €79,493 | €78,498 | -€996 | -1.3% |
| Amounts payable | 17/49 | €40,238 | €35,738 | -€4,499 | -11.2% |
| Amounts payable after more than one year | 17 | €9,745 | €5,693 | -€4,052 | -41.6% |
| Financial debts | 170/4 | €9,745 | €5,693 | -€4,052 | -41.6% |
| Amounts payable within one year | 42/48 | €30,493 | €30,045 | -€448 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €5,212 | €4,052 | -€1,161 | -22.3% |
| Trade debts | 44 | €1,406 | €5,898 | +€4,491 | +319% |
| Suppliers | 440/4 | €1,406 | €5,898 | +€4,491 | +319% |
| Taxes, remuneration and social security | 45 | €4,335 | €557 | -€3,778 | -87.2% |
| Taxes | 450/3 | €4,335 | €557 | -€3,778 | -87.2% |
| Other amounts payable | 47/48 | €19,539 | €19,539 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,734 | €7,691 | -€42 | -0.5% |
| Other operating charges | 640/8 | €1,714 | €1,600 | -€114 | -6.7% |
| Gross operating margin | 9900 | €8,203 | €5,701 | -€2,502 | -30.5% |
| Operating profit (loss) | 9901 | -€1,244 | -€3,590 | -€2,346 | -188% |
| Financial income | 75/76B | €10 | €146 | +€136 | +1,327% |
| Recurring financial income | 75 | €10 | €146 | +€136 | +1,327% |
| Financial charges | 65/66B | €1,729 | €1,603 | -€126 | -7.3% |
| Recurring financial charges | 65 | €1,729 | €1,603 | -€126 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | -€2,963 | -€5,047 | -€2,083 | -70.3% |
| Income taxes | 67/77 | €350 | €287 | -€63 | -18.0% |
| Profit (loss) for the period | 9904 | -€3,313 | -€5,334 | -€2,020 | -61.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,313 | -€5,334 | -€2,020 | -61.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.