LIKO: 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.
LIKO
Largest movements
- Stocks and contracts -€31,261
down €31,261 (-32.1%), from €97,387 to €66,126
- Cash -€28,380
down €28,380 (-55.0%), from €51,593 to €23,213
mainly Trade debts (-€187,076) and Investment in fixed assets (net) (-€33,658)
- Receivables within one year -€6,758
down €6,758 (-8.6%), from €79,025 to €72,266
of which Trade receivables: -€6,895
- Tangible fixed assets -€4,631
down €4,631 (-5.8%), from €79,778 to €75,147
of which Furniture and vehicles: -€4,820
- Trade debts -€187,076
down €187,076 (-56.7%), from €330,204 to €143,128
- Other debts +€75,968
up €75,968 (+30.4%), from €250,162 to €326,130
- Tax, wage and social debts +€32,118
up €32,118 (+34.1%), from €94,118 to €126,237
of which Remuneration and social security: +€21,501
- Profit (loss) carried forward +€7,960
up €7,960 (+1.8%), from -€434,455 to -€426,496
- Gross operating margin +€377,049
up €377,049 (+214%), from €176,353 to €553,402
- Staff costs +€275,286
up €275,286 (+126%), from €217,802 to €493,088
- Depreciation +€23,723
up €23,723 (+163%), from €14,567 to €38,289
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 | €308,229 | €237,198 | -€71,031 | -23.0% |
| Fixed assets | 21/28 | €80,224 | €75,593 | -€4,631 | -5.8% |
| Tangible fixed assets | 22/27 | €79,778 | €75,147 | -€4,631 | -5.8% |
| Plant, machinery and equipment | 23 | €67,790 | €68,299 | +€509 | +0.8% |
| Furniture and vehicles | 24 | €10,278 | €5,458 | -€4,820 | -46.9% |
| Other tangible fixed assets | 26 | €1,709 | €1,389 | -€320 | -18.7% |
| Financial fixed assets | 28 | €446 | €446 | = | 0.0% |
| Current assets | 29/58 | €228,005 | €161,606 | -€66,400 | -29.1% |
| Stocks and contracts in progress | 3 | €97,387 | €66,126 | -€31,261 | -32.1% |
| Stocks | 30/36 | €97,387 | €66,126 | -€31,261 | -32.1% |
| Amounts receivable within one year | 40/41 | €79,025 | €72,266 | -€6,758 | -8.6% |
| Trade receivables | 40 | €78,889 | €71,994 | -€6,895 | -8.7% |
| Other amounts receivable | 41 | €136 | €272 | +€136 | +100% |
| Cash at bank and in hand | 54/58 | €51,593 | €23,213 | -€28,380 | -55.0% |
| Total equity and liabilities | 10/49 | €308,229 | €237,198 | -€71,031 | -23.0% |
| Equity | 10/15 | -€366,255 | -€358,296 | +€7,960 | +2.2% |
| 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 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€434,455 | -€426,496 | +€7,960 | +1.8% |
| Amounts payable | 17/49 | €674,484 | €595,494 | -€78,990 | -11.7% |
| Amounts payable within one year | 42/48 | €674,484 | €595,494 | -€78,990 | -11.7% |
| Trade debts | 44 | €330,204 | €143,128 | -€187,076 | -56.7% |
| Suppliers | 440/4 | €330,204 | €143,128 | -€187,076 | -56.7% |
| Taxes, remuneration and social security | 45 | €94,118 | €126,237 | +€32,118 | +34.1% |
| Taxes | 450/3 | €40,522 | €51,138 | +€10,617 | +26.2% |
| Remuneration and social security | 454/9 | €53,597 | €75,098 | +€21,501 | +40.1% |
| Other amounts payable | 47/48 | €250,162 | €326,130 | +€75,968 | +30.4% |
| Non-recurring operating income | 76A | - | €16,250 | +€16,250 | |
| Remuneration, social security and pensions | 62 | €217,802 | €493,088 | +€275,286 | +126% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,567 | €38,289 | +€23,723 | +163% |
| Other operating charges | 640/8 | €259 | €264 | +€6 | +2.2% |
| Gross operating margin | 9900 | €176,353 | €553,402 | +€377,049 | +214% |
| Operating profit (loss) | 9901 | -€56,274 | €21,760 | +€78,035 | |
| Financial charges | 65/66B | €17,015 | €12,645 | -€4,371 | -25.7% |
| Recurring financial charges | 65 | €17,015 | €12,645 | -€4,371 | -25.7% |
| Profit (loss) for the period before taxes | 9903 | -€73,290 | €9,116 | +€82,405 | |
| Income taxes | 67/77 | €264 | €1,156 | +€892 | +338% |
| Profit (loss) for the period | 9904 | -€73,553 | €7,960 | +€81,513 | |
| Profit (loss) for the period to be appropriated | 9905 | -€73,553 | €7,960 | +€81,513 |
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 18 October 2026 via checked.be.