Limboerg & Partners: 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.
Limboerg & Partners
Largest movements
- Receivables within one year -€12,957
down €12,957 (-72.0%), from €18,000 to €5,043
of which Other amounts receivable: -€17,900
- Tangible fixed assets -€11,785
down €11,785 (-18.4%), from €63,903 to €52,118
of which Other tangible fixed assets: -€12,445
- Cash +€3,704
up €3,704 (+7.4%), from €50,219 to €53,923
mainly Depreciation (+€20,059) and Receivables within one year (+€12,957)
- Deferred charges and accrued income +€2,803
up €2,803 (+14.5%), from €19,386 to €22,189
- Other debts -€18,253
down €18,253 (-41.7%), from €43,822 to €25,569
- Reserves +€9,818
up €9,818 (+34.0%), from €28,846 to €38,663
- Short-term financial debts -€8,000
no longer reported in 2025 (was €8,000)
- Accrued charges and deferred income +€6,800
new in 2025: €6,800
- Debts after one year -€6,240
down €6,240 (-74.7%), from €8,353 to €2,113
- Gross operating margin -€20,346
down €20,346 (-14.8%), from €137,829 to €117,483
- Staff costs +€13,332
up €13,332 (+23.3%), from €57,184 to €70,516
- Other operating charges -€2,661
down €2,661 (-66.0%), from €4,033 to €1,372
- Depreciation +€2,441
up €2,441 (+13.9%), from €17,618 to €20,059
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 | €151,556 | €133,322 | -€18,234 | -12.0% |
| Fixed assets | 21/28 | €63,952 | €52,167 | -€11,785 | -18.4% |
| Tangible fixed assets | 22/27 | €63,903 | €52,118 | -€11,785 | -18.4% |
| Furniture and vehicles | 24 | €8,141 | €8,801 | +€660 | +8.1% |
| Other tangible fixed assets | 26 | €55,762 | €43,317 | -€12,445 | -22.3% |
| Financial fixed assets | 28 | €49 | €49 | = | 0.0% |
| Current assets | 29/58 | €87,604 | €81,155 | -€6,450 | -7.4% |
| Amounts receivable within one year | 40/41 | €18,000 | €5,043 | -€12,957 | -72.0% |
| Trade receivables | 40 | €0 | €4,943 | +€4,943 | |
| Other amounts receivable | 41 | €18,000 | €100 | -€17,900 | -99.4% |
| Cash at bank and in hand | 54/58 | €50,219 | €53,923 | +€3,704 | +7.4% |
| Deferred charges and accrued income | 490/1 | €19,386 | €22,189 | +€2,803 | +14.5% |
| Total equity and liabilities | 10/49 | €151,556 | €133,322 | -€18,234 | -12.0% |
| Equity | 10/15 | €53,551 | €63,369 | +€9,818 | +18.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €28,846 | €38,663 | +€9,818 | +34.0% |
| Distributable reserves | 133 | €28,846 | €38,663 | +€9,818 | +34.0% |
| Profit (loss) carried forward | 14 | €6,105 | €6,105 | = | 0.0% |
| Amounts payable | 17/49 | €98,005 | €69,953 | -€28,052 | -28.6% |
| Amounts payable after more than one year | 17 | €8,353 | €2,113 | -€6,240 | -74.7% |
| Financial debts | 170/4 | €8,353 | €2,113 | -€6,240 | -74.7% |
| Amounts payable within one year | 42/48 | €89,652 | €61,040 | -€28,612 | -31.9% |
| Current portion of amounts payable after more than one year | 42 | €10,197 | €6,240 | -€3,957 | -38.8% |
| Financial debts | 43 | €8,000 | - | -€8,000 | |
| Credit institutions | 430/8 | €8,000 | - | -€8,000 | |
| Trade debts | 44 | €3,611 | €1,369 | -€2,242 | -62.1% |
| Suppliers | 440/4 | €3,611 | €1,369 | -€2,242 | -62.1% |
| Taxes, remuneration and social security | 45 | €24,023 | €27,862 | +€3,839 | +16.0% |
| Taxes | 450/3 | €14,569 | €14,009 | -€560 | -3.8% |
| Remuneration and social security | 454/9 | €9,454 | €13,853 | +€4,399 | +46.5% |
| Other amounts payable | 47/48 | €43,822 | €25,569 | -€18,253 | -41.7% |
| Accrued charges and deferred income | 492/3 | - | €6,800 | +€6,800 | |
| Remuneration, social security and pensions | 62 | €57,184 | €70,516 | +€13,332 | +23.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,618 | €20,059 | +€2,441 | +13.9% |
| Other operating charges | 640/8 | €4,033 | €1,372 | -€2,661 | -66.0% |
| Gross operating margin | 9900 | €137,829 | €117,483 | -€20,346 | -14.8% |
| Operating profit (loss) | 9901 | €58,995 | €25,536 | -€33,459 | -56.7% |
| Financial income | 75/76B | €109 | €405 | +€295 | +270% |
| Recurring financial income | 75 | €109 | €405 | +€295 | +270% |
| Financial charges | 65/66B | €1,149 | €2,114 | +€965 | +84.0% |
| Recurring financial charges | 65 | €1,149 | €2,114 | +€965 | +84.0% |
| Profit (loss) for the period before taxes | 9903 | €57,956 | €23,827 | -€34,129 | -58.9% |
| Income taxes | 67/77 | €14,569 | €14,009 | -€560 | -3.8% |
| Profit (loss) for the period | 9904 | €43,387 | €9,818 | -€33,569 | -77.4% |
| Profit (loss) for the period to be appropriated | 9905 | €43,387 | €9,818 | -€33,569 | -77.4% |
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 1 November 2026 via checked.be.