LIKALO: 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.
What changed
LIKALO
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€26,876
2024 · -€120,391+€147,267
Equity
€180,205
2024 · €153,329+€26,876
Cash
€74,661
2024 · €94,316-€19,655
Balance sheet total
€9.7m
2024 · €10.0m-€312,814
Largest movements
Assets
- Tangible fixed assets -€283,435
down €283,435 (-2.9%), from €9.9m to €9.7m
of which Land and buildings: -€263,889
Equity and liabilities
- Debts after one year -€214,650
down €214,650 (-2.3%), from €9.2m to €9.0m
- Other debts -€150,000
no longer reported in 2025 (was €150,000)
Income statement
- Gross operating margin +€184,782
up €184,782 (+23.0%), from €804,925 to €989,708
- Depreciation +€25,108
up €25,108 (+4.7%), from €536,579 to €561,687
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.
Result 2024
-€120,391
Gross operating margin
+€184,782
Depreciation
-€25,108
Other operating charges
-€1,925
Financial income
-€2,990
Financial charges
-€7,492
Result 2025
€26,876
raises the resultlowers the result
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.
From operations
+€458,297
Investment
-€278,252
Financing
-€199,700
Cash 2024
€94,316
From operations (derived)
+€458,297
Net result for the year
+€26,876
Depreciation
+€561,687
Receivables within one year
+€9,725
Trade debts
-€75,953
Other debts
-€150,000
Accrued charges and deferred income
+€85,962
Investment (derived)
-€278,252
Investment in fixed assets (net)
-€278,252
Financing
-€199,700
Debts after one year
-€214,650
Current portion of long-term debt
+€14,950
Cash 2025
€74,661
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,048,275 | €9,735,461 | -€312,814 | -3.1% |
| Fixed assets | 21/28 | €9,938,945 | €9,655,510 | -€283,435 | -2.9% |
| Tangible fixed assets | 22/27 | €9,938,945 | €9,655,510 | -€283,435 | -2.9% |
| Land and buildings | 22 | €9,793,082 | €9,529,192 | -€263,889 | -2.7% |
| Plant, machinery and equipment | 23 | €145,863 | €123,863 | -€22,000 | -15.1% |
| Assets under construction and advance payments | 27 | - | €2,455 | +€2,455 | |
| Current assets | 29/58 | €109,331 | €79,951 | -€29,380 | -26.9% |
| Amounts receivable within one year | 40/41 | €15,015 | €5,290 | -€9,725 | -64.8% |
| Trade receivables | 40 | - | €4,870 | +€4,870 | |
| Other amounts receivable | 41 | €15,015 | €420 | -€14,595 | -97.2% |
| Cash at bank and in hand | 54/58 | €94,316 | €74,661 | -€19,655 | -20.8% |
| Total equity and liabilities | 10/49 | €10,048,275 | €9,735,461 | -€312,814 | -3.1% |
| Equity | 10/15 | €153,329 | €180,205 | +€26,876 | +17.5% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €1,900 | €1,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | €132,429 | €159,305 | +€26,876 | +20.3% |
| Amounts payable | 17/49 | €9,894,947 | €9,555,256 | -€339,691 | -3.4% |
| Amounts payable after more than one year | 17 | €9,209,702 | €8,995,052 | -€214,650 | -2.3% |
| Financial debts | 170/4 | €9,209,702 | €8,995,052 | -€214,650 | -2.3% |
| Amounts payable within one year | 42/48 | €677,813 | €466,811 | -€211,003 | -31.1% |
| Current portion of amounts payable after more than one year | 42 | €449,700 | €464,650 | +€14,950 | +3.3% |
| Trade debts | 44 | €78,113 | €2,161 | -€75,953 | -97.2% |
| Suppliers | 440/4 | €78,113 | €2,161 | -€75,953 | -97.2% |
| Other amounts payable | 47/48 | €150,000 | - | -€150,000 | |
| Accrued charges and deferred income | 492/3 | €7,431 | €93,393 | +€85,962 | +1,157% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €536,579 | €561,687 | +€25,108 | +4.7% |
| Other operating charges | 640/8 | €64,852 | €66,777 | +€1,925 | +3.0% |
| Gross operating margin | 9900 | €804,925 | €989,708 | +€184,782 | +23.0% |
| Operating profit (loss) | 9901 | €203,494 | €361,244 | +€157,749 | +77.5% |
| Financial income | 75/76B | €3,264 | €274 | -€2,990 | -91.6% |
| Recurring financial income | 75 | €3,264 | €274 | -€2,990 | -91.6% |
| Financial charges | 65/66B | €327,149 | €334,642 | +€7,492 | +2.3% |
| Recurring financial charges | 65 | €327,149 | €334,642 | +€7,492 | +2.3% |
| Profit (loss) for the period before taxes | 9903 | -€120,391 | €26,876 | +€147,267 | |
| Profit (loss) for the period | 9904 | -€120,391 | €26,876 | +€147,267 | |
| Profit (loss) for the period to be appropriated | 9905 | -€120,391 | €26,876 | +€147,267 |
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 26 October 2026 via checked.be.