Ligna: 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.
Ligna
Largest movements
- Tangible fixed assets -€175,062
down €175,062 (-15.0%), from €1.2m to €994,149
of which Land and buildings: -€174,828
- Cash +€163,233
up €163,233 (+204.4%), from €79,855 to €243,088
mainly Net result for the year (+€181,995) and Investment in fixed assets (net) (+€115,440)
- Profit (loss) carried forward +€194,475
up €194,475 (+421.1%), from €46,188 to €240,663
- Debts after one year -€157,000
down €157,000 (-100.0%), from €157,000 to €0
- Other debts -€82,733
down €82,733 (-13.4%), from €615,386 to €532,653
- Tax, wage and social debts +€44,797
new in 2025: €44,797
- Gross operating margin +€285,079
up €285,079 (+657.4%), from €43,366 to €328,444
- Taxes +€69,797
new in 2025: €69,797
- Other operating charges +€20,320
up €20,320 (+17220.5%), from €118 to €20,438
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 | €1,262,395 | €1,248,441 | -€13,955 | -1.1% |
| Fixed assets | 21/28 | €1,169,460 | €994,399 | -€175,062 | -15.0% |
| Tangible fixed assets | 22/27 | €1,169,210 | €994,149 | -€175,062 | -15.0% |
| Land and buildings | 22 | €1,168,180 | €993,352 | -€174,828 | -15.0% |
| Plant, machinery and equipment | 23 | €337 | €277 | -€60 | -17.8% |
| Furniture and vehicles | 24 | €693 | €520 | -€173 | -25.0% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €92,935 | €254,042 | +€161,107 | +173.4% |
| Amounts receivable within one year | 40/41 | €10,398 | €8,576 | -€1,821 | -17.5% |
| Trade receivables | 40 | €968 | €3,146 | +€2,179 | +225.2% |
| Other amounts receivable | 41 | €9,430 | €5,430 | -€4,000 | -42.4% |
| Cash at bank and in hand | 54/58 | €79,855 | €243,088 | +€163,233 | +204.4% |
| Deferred charges and accrued income | 490/1 | €2,682 | €2,377 | -€305 | -11.4% |
| Total equity and liabilities | 10/49 | €1,262,395 | €1,248,441 | -€13,955 | -1.1% |
| Equity | 10/15 | €408,456 | €590,451 | +€181,995 | +44.6% |
| Contributions | 10/11 | €63,050 | €63,050 | = | 0.0% |
| Reserves | 13 | €299,218 | €286,738 | -€12,480 | -4.2% |
| Non-distributable reserves | 130/1 | €347 | €347 | = | 0.0% |
| Reserves not available under the articles | 1311 | €347 | €347 | = | 0.0% |
| Tax-exempt reserves | 132 | €246,284 | €233,805 | -€12,480 | -5.1% |
| Distributable reserves | 133 | €52,587 | €52,587 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,188 | €240,663 | +€194,475 | +421.1% |
| Provisions and deferred taxes | 16 | €80,803 | €76,644 | -€4,160 | -5.1% |
| Deferred taxes | 168 | €80,803 | €76,644 | -€4,160 | -5.1% |
| Amounts payable | 17/49 | €773,136 | €581,346 | -€191,790 | -24.8% |
| Amounts payable after more than one year | 17 | €157,000 | €0 | -€157,000 | -100.0% |
| Financial debts | 170/4 | €157,000 | €0 | -€157,000 | -100.0% |
| Amounts payable within one year | 42/48 | €615,386 | €580,596 | -€34,790 | -5.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €0 | €3,146 | +€3,146 | |
| Suppliers | 440/4 | €0 | €3,146 | +€3,146 | |
| Taxes, remuneration and social security | 45 | - | €44,797 | +€44,797 | |
| Taxes | 450/3 | - | €44,797 | +€44,797 | |
| Other amounts payable | 47/48 | €615,386 | €532,653 | -€82,733 | -13.4% |
| Accrued charges and deferred income | 492/3 | €750 | €750 | = | 0.0% |
| Non-recurring operating income | 76A | - | €310,539 | +€310,539 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,298 | €59,622 | +€324 | +0.5% |
| Other operating charges | 640/8 | €118 | €20,438 | +€20,320 | +17220.5% |
| Gross operating margin | 9900 | €43,366 | €328,444 | +€285,079 | +657.4% |
| Operating profit (loss) | 9901 | -€16,050 | €248,384 | +€264,435 | |
| Financial income | 75/76B | €924 | €20 | -€904 | -97.8% |
| Recurring financial income | 75 | €924 | €20 | -€904 | -97.8% |
| Financial charges | 65/66B | €3,810 | €773 | -€3,037 | -79.7% |
| Recurring financial charges | 65 | €3,810 | €773 | -€3,037 | -79.7% |
| Profit (loss) for the period before taxes | 9903 | -€18,936 | €247,632 | +€266,568 | |
| Transfer from deferred taxes | 780 | €4,160 | €4,160 | -€0 | 0.0% |
| Income taxes | 67/77 | - | €69,797 | +€69,797 | |
| Profit (loss) for the period | 9904 | -€14,776 | €181,995 | +€196,771 | |
| Transfer from tax-exempt reserves | 789 | €12,480 | €12,480 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,296 | €194,475 | +€196,771 |
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 5 October 2026 via checked.be.