LIGIREST: 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.
LIGIREST
Largest movements
- Cash +€229,955
up €229,955 (+75.0%), from €306,632 to €536,587
mainly Other debts (+€305,001) and Net result for the year (+€297,900)
- Tangible fixed assets -€126,460
down €126,460 (-16.1%), from €785,687 to €659,227
of which Land and buildings: -€136,183
- Current investments -€125,000
no longer reported in 2025 (was €125,000)
- Deferred charges and accrued income +€51,311
up €51,311 (+266%), from €19,276 to €70,587
- Other debts +€305,001
up €305,001 (+29,433%), from €1,036 to €306,038
- Reserves -€167,100
down €167,100 (-98.8%), from €169,100 to €2,000
- Debts after one year -€135,670
down €135,670 (-19.0%), from €715,390 to €579,719
- Tax, wage and social debts +€19,052
up €19,052 (+28.3%), from €67,226 to €86,278
of which Remuneration and social security: +€15,922
- Financial income +€150,056
up €150,056 (+5,793%), from €2,590 to €152,646
- Staff costs +€45,065
up €45,065 (+9.6%), from €470,996 to €516,061
- Gross operating margin +€43,064
up €43,064 (+5.1%), from €836,743 to €879,807
- Other operating charges +€9,640
up €9,640 (+2,255%), from €428 to €10,068
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 | €1,360,657 | €1,398,456 | +€37,798 | +2.8% |
| Fixed assets | 21/28 | €867,534 | €734,885 | -€132,649 | -15.3% |
| Intangible fixed assets | 21 | €33,847 | €27,658 | -€6,189 | -18.3% |
| Tangible fixed assets | 22/27 | €785,687 | €659,227 | -€126,460 | -16.1% |
| Land and buildings | 22 | €768,713 | €632,530 | -€136,183 | -17.7% |
| Plant, machinery and equipment | 23 | €16,974 | €17,615 | +€641 | +3.8% |
| Furniture and vehicles | 24 | - | €9,083 | +€9,083 | |
| Financial fixed assets | 28 | €48,000 | €48,000 | = | 0.0% |
| Current assets | 29/58 | €493,124 | €663,571 | +€170,447 | +34.6% |
| Stocks and contracts in progress | 3 | €19,483 | €21,047 | +€1,564 | +8.0% |
| Stocks | 30/36 | €19,483 | €21,047 | +€1,564 | +8.0% |
| Amounts receivable within one year | 40/41 | €22,733 | €35,349 | +€12,617 | +55.5% |
| Trade receivables | 40 | - | €7,876 | +€7,876 | |
| Other amounts receivable | 41 | €22,733 | €27,473 | +€4,741 | +20.9% |
| Current investments | 50/53 | €125,000 | - | -€125,000 | |
| Cash at bank and in hand | 54/58 | €306,632 | €536,587 | +€229,955 | +75.0% |
| Deferred charges and accrued income | 490/1 | €19,276 | €70,587 | +€51,311 | +266% |
| Total equity and liabilities | 10/49 | €1,360,657 | €1,398,456 | +€37,798 | +2.8% |
| Equity | 10/15 | €269,100 | €102,000 | -€167,100 | -62.1% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €169,100 | €2,000 | -€167,100 | -98.8% |
| Distributable reserves | 133 | €169,100 | €2,000 | -€167,100 | -98.8% |
| Amounts payable | 17/49 | €1,091,558 | €1,296,455 | +€204,898 | +18.8% |
| Amounts payable after more than one year | 17 | €715,390 | €579,719 | -€135,670 | -19.0% |
| Financial debts | 170/4 | €715,390 | €579,719 | -€135,670 | -19.0% |
| Amounts payable within one year | 42/48 | €376,168 | €711,736 | +€335,568 | +89.2% |
| Current portion of amounts payable after more than one year | 42 | €125,624 | €130,670 | +€5,046 | +4.0% |
| Trade debts | 44 | €182,281 | €188,750 | +€6,469 | +3.5% |
| Suppliers | 440/4 | €182,281 | €188,750 | +€6,469 | +3.5% |
| Taxes, remuneration and social security | 45 | €67,226 | €86,278 | +€19,052 | +28.3% |
| Taxes | 450/3 | €4,340 | €7,470 | +€3,130 | +72.1% |
| Remuneration and social security | 454/9 | €62,886 | €78,808 | +€15,922 | +25.3% |
| Other amounts payable | 47/48 | €1,036 | €306,038 | +€305,001 | +29,433% |
| Accrued charges and deferred income | 492/3 | - | €5,000 | +€5,000 | |
| Remuneration, social security and pensions | 62 | €470,996 | €516,061 | +€45,065 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €149,807 | €156,810 | +€7,003 | +4.7% |
| Other operating charges | 640/8 | €428 | €10,068 | +€9,640 | +2,255% |
| Gross operating margin | 9900 | €836,743 | €879,807 | +€43,064 | +5.1% |
| Operating profit (loss) | 9901 | €215,512 | €196,868 | -€18,643 | -8.7% |
| Financial income | 75/76B | €2,590 | €152,646 | +€150,056 | +5,793% |
| Recurring financial income | 75 | €2,590 | €152,646 | +€150,056 | +5,793% |
| Financial charges | 65/66B | €20,702 | €18,118 | -€2,584 | -12.5% |
| Recurring financial charges | 65 | €20,702 | €18,118 | -€2,584 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | €197,400 | €331,397 | +€133,997 | +67.9% |
| Income taxes | 67/77 | €35,736 | €33,496 | -€2,240 | -6.3% |
| Profit (loss) for the period | 9904 | €161,664 | €297,900 | +€136,237 | +84.3% |
| Profit (loss) for the period to be appropriated | 9905 | €161,664 | €297,900 | +€136,237 | +84.3% |
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 13 October 2026 via checked.be.