LIHAN: 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.
LIHAN
Largest movements
- Current investments +€566,228
up €566,228 (+30.3%), from €1.9m to €2.4m
- Cash -€292,453
down €292,453 (-20.6%), from €1.4m to €1.1m
mainly Current investments (-€566,228) and Contributions, distributions and other (-€261,677)
- Receivables within one year -€215,208
down €215,208 (-14.0%), from €1.5m to €1.3m
of which Other amounts receivable: -€213,846
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€321,754
down €321,754 (-50.9%), from €632,480 to €310,726
- Taxes -€109,949
down €109,949 (-55.2%), from €199,143 to €89,194
- Financial income -€22,667
down €22,667 (-18.1%), from €124,959 to €102,292
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,993,233 | €6,045,776 | +€52,544 | +0.9% |
| Fixed assets | 21/28 | €1,126,134 | €1,127,347 | +€1,213 | +0.1% |
| Tangible fixed assets | 22/27 | €382,454 | €383,666 | +€1,213 | +0.3% |
| Land and buildings | 22 | €382,454 | €377,846 | -€4,608 | -1.2% |
| Furniture and vehicles | 24 | - | €5,820 | +€5,820 | |
| Financial fixed assets | 28 | €743,681 | €743,681 | = | 0.0% |
| Current assets | 29/58 | €4,867,098 | €4,918,430 | +€51,331 | +1.1% |
| Amounts receivable within one year | 40/41 | €1,537,952 | €1,322,743 | -€215,208 | -14.0% |
| Trade receivables | 40 | €1,362 | - | -€1,362 | |
| Other amounts receivable | 41 | €1,536,590 | €1,322,743 | -€213,846 | -13.9% |
| Current investments | 50/53 | €1,868,019 | €2,434,247 | +€566,228 | +30.3% |
| Cash at bank and in hand | 54/58 | €1,422,301 | €1,129,848 | -€292,453 | -20.6% |
| Deferred charges and accrued income | 490/1 | €38,826 | €31,591 | -€7,235 | -18.6% |
| Total equity and liabilities | 10/49 | €5,993,233 | €6,045,776 | +€52,544 | +0.9% |
| Equity | 10/15 | €4,416,368 | €4,424,046 | +€7,678 | +0.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €4,354,368 | €4,362,046 | +€7,678 | +0.2% |
| Non-distributable reserves | 130/1 | €3,971,126 | €4,069,804 | +€98,678 | +2.5% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Other | 1319 | €3,964,926 | €4,063,604 | +€98,678 | +2.5% |
| Distributable reserves | 133 | €383,242 | €292,242 | -€91,000 | -23.7% |
| Provisions and deferred taxes | 16 | €729,583 | €729,583 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €729,583 | €729,583 | = | 0.0% |
| Other liabilities and charges | 164/5 | €729,583 | €729,583 | = | 0.0% |
| Amounts payable | 17/49 | €847,282 | €892,147 | +€44,866 | +5.3% |
| Amounts payable within one year | 42/48 | €806,270 | €852,161 | +€45,891 | +5.7% |
| Trade debts | 44 | - | €6,506 | +€6,506 | |
| Suppliers | 440/4 | - | €6,506 | +€6,506 | |
| Taxes, remuneration and social security | 45 | €39,676 | €21,378 | -€18,298 | -46.1% |
| Taxes | 450/3 | €39,676 | €21,378 | -€18,298 | -46.1% |
| Other amounts payable | 47/48 | €766,594 | €824,277 | +€57,683 | +7.5% |
| Accrued charges and deferred income | 492/3 | €41,012 | €39,986 | -€1,026 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,608 | €5,155 | +€548 | +11.9% |
| Other operating charges | 640/8 | €13,091 | €11,738 | -€1,353 | -10.3% |
| Gross operating margin | 9900 | €632,480 | €310,726 | -€321,754 | -50.9% |
| Operating profit (loss) | 9901 | €614,781 | €293,833 | -€320,949 | -52.2% |
| Financial income | 75/76B | €124,959 | €102,292 | -€22,667 | -18.1% |
| Recurring financial income | 75 | €124,959 | €102,292 | -€22,667 | -18.1% |
| Financial charges | 65/66B | €36,563 | €37,576 | +€1,013 | +2.8% |
| Recurring financial charges | 65 | €36,563 | €37,576 | +€1,013 | +2.8% |
| Profit (loss) for the period before taxes | 9903 | €703,177 | €358,549 | -€344,628 | -49.0% |
| Income taxes | 67/77 | €199,143 | €89,194 | -€109,949 | -55.2% |
| Profit (loss) for the period | 9904 | €504,035 | €269,355 | -€234,680 | -46.6% |
| Profit (loss) for the period to be appropriated | 9905 | €504,035 | €269,355 | -€234,680 | -46.6% |
Source: filed annual accounts (NBB), financial years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.