LIGOPTIC: 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.
LIGOPTIC
Largest movements
- Tangible fixed assets -€34,894
down €34,894 (-5.4%), from €644,271 to €609,377
- Receivables within one year -€24,344
down €24,344 (-44.2%), from €55,088 to €30,745
of which Trade receivables: -€31,795
- Stocks and contracts +€11,446
up €11,446 (+19.3%), from €59,170 to €70,615
- Debts after one year -€29,244
down €29,244 (-5.2%), from €557,717 to €528,473
- Trade debts -€21,396
down €21,396 (-33.4%), from €64,019 to €42,623
- Reserves -€18,000
down €18,000 (-15.9%), from €112,860 to €94,860
of which Distributable reserves: -€18,000
- Gross operating margin -€47,349
down €47,349 (-19.1%), from €247,538 to €200,189
- Write-downs -€15,694
down €15,694, from €15,648 to -€46
- Staff costs +€13,939
up €13,939 (+16.4%), from €84,877 to €98,816
- Depreciation -€13,652
down €13,652 (-21.9%), from €62,427 to €48,775
- Taxes +€5,307
up €5,307 (+894.1%), from €594 to €5,901
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 | €806,882 | €752,839 | -€54,043 | -6.7% |
| Fixed assets | 21/28 | €644,471 | €609,577 | -€34,894 | -5.4% |
| Tangible fixed assets | 22/27 | €644,271 | €609,377 | -€34,894 | -5.4% |
| Land and buildings | 22 | €427,574 | €414,824 | -€12,750 | -3.0% |
| Plant, machinery and equipment | 23 | €183,158 | €169,211 | -€13,947 | -7.6% |
| Furniture and vehicles | 24 | €33,540 | €25,342 | -€8,198 | -24.4% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €162,411 | €143,262 | -€19,149 | -11.8% |
| Stocks and contracts in progress | 3 | €59,170 | €70,615 | +€11,446 | +19.3% |
| Stocks | 30/36 | €59,170 | €70,615 | +€11,446 | +19.3% |
| Amounts receivable within one year | 40/41 | €55,088 | €30,745 | -€24,344 | -44.2% |
| Trade receivables | 40 | €33,947 | €2,152 | -€31,795 | -93.7% |
| Other amounts receivable | 41 | €21,142 | €28,593 | +€7,451 | +35.2% |
| Cash at bank and in hand | 54/58 | €46,209 | €38,270 | -€7,939 | -17.2% |
| Deferred charges and accrued income | 490/1 | €1,944 | €3,632 | +€1,688 | +86.9% |
| Total equity and liabilities | 10/49 | €806,882 | €752,839 | -€54,043 | -6.7% |
| Equity | 10/15 | €112,282 | €94,705 | -€17,577 | -15.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €112,860 | €94,860 | -€18,000 | -15.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €111,000 | €93,000 | -€18,000 | -16.2% |
| Profit (loss) carried forward | 14 | -€12,978 | -€12,555 | +€423 | +3.3% |
| Amounts payable | 17/49 | €694,600 | €658,134 | -€36,466 | -5.2% |
| Amounts payable after more than one year | 17 | €557,717 | €528,473 | -€29,244 | -5.2% |
| Financial debts | 170/4 | €557,717 | €528,473 | -€29,244 | -5.2% |
| Amounts payable within one year | 42/48 | €136,883 | €128,811 | -€8,072 | -5.9% |
| Current portion of amounts payable after more than one year | 42 | €38,959 | €42,784 | +€3,826 | +9.8% |
| Trade debts | 44 | €64,019 | €42,623 | -€21,396 | -33.4% |
| Suppliers | 440/4 | €64,019 | €42,623 | -€21,396 | -33.4% |
| Taxes, remuneration and social security | 45 | €18,905 | €22,695 | +€3,790 | +20.0% |
| Taxes | 450/3 | €9,953 | €15,625 | +€5,673 | +57.0% |
| Remuneration and social security | 454/9 | €8,952 | €7,070 | -€1,882 | -21.0% |
| Other amounts payable | 47/48 | €15,000 | €20,708 | +€5,708 | +38.1% |
| Accrued charges and deferred income | 492/3 | - | €850 | +€850 | |
| Remuneration, social security and pensions | 62 | €84,877 | €98,816 | +€13,939 | +16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,427 | €48,775 | -€13,652 | -21.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €15,648 | -€46 | -€15,694 | |
| Other operating charges | 640/8 | €6,152 | €9,983 | +€3,832 | +62.3% |
| Non-recurring operating charges | 66A | €65,178 | €9,927 | -€55,251 | -84.8% |
| Gross operating margin | 9900 | €247,538 | €200,189 | -€47,349 | -19.1% |
| Operating profit (loss) | 9901 | €13,257 | €32,734 | +€19,477 | +146.9% |
| Financial income | 75/76B | €2,834 | €2,658 | -€176 | -6.2% |
| Recurring financial income | 75 | €2,834 | €2,658 | -€176 | -6.2% |
| Financial charges | 65/66B | €28,978 | €29,068 | +€90 | +0.3% |
| Recurring financial charges | 65 | €28,978 | €29,068 | +€90 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | -€12,887 | €6,324 | +€19,211 | |
| Income taxes | 67/77 | €594 | €5,901 | +€5,307 | +894.1% |
| Profit (loss) for the period | 9904 | -€13,480 | €423 | +€13,903 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,480 | €423 | +€13,903 |
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.