Limbulo: 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.
Limbulo
Largest movements
- Cash -€95,836
down €95,836 (-7.0%), from €1.4m to €1.3m
mainly Debts after one year (-€97,753) and Net result for the year (-€93,629)
- Financial fixed assets -€75,000
down €75,000 (-14.7%), from €510,500 to €435,500
- Debts after one year -€97,753
down €97,753 (-24.9%), from €393,265 to €295,512
- Profit (loss) carried forward -€93,629
down €93,629, from €12,336 to -€81,293
- Gross operating margin -€200,989
down €200,989, from €171,583 to -€29,406
- Purchases and services -€55,938
down €55,938 (-60.6%), from €92,238 to €36,300
- Depreciation -€26,098
down €26,098 (-81.0%), from €32,222 to €6,124
- Taxes -€24,774
no longer reported in 2025 (was €24,774)
- Financial charges -€7,638
down €7,638 (-25.9%), from €29,435 to €21,797
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 | €2,130,582 | €1,950,356 | -€180,226 | -8.5% |
| Fixed assets | 21/28 | €516,624 | €435,500 | -€81,124 | -15.7% |
| Tangible fixed assets | 22/27 | €6,124 | - | -€6,124 | |
| Land and buildings | 22 | €6,124 | - | -€6,124 | |
| Financial fixed assets | 28 | €510,500 | €435,500 | -€75,000 | -14.7% |
| Current assets | 29/58 | €1,613,958 | €1,514,856 | -€99,102 | -6.1% |
| Amounts receivable within one year | 40/41 | €19,575 | €16,309 | -€3,266 | -16.7% |
| Other amounts receivable | 41 | €19,575 | €16,309 | -€3,266 | -16.7% |
| Cash at bank and in hand | 54/58 | €1,376,918 | €1,281,081 | -€95,836 | -7.0% |
| Deferred charges and accrued income | 490/1 | €217,466 | €217,466 | = | 0.0% |
| Total equity and liabilities | 10/49 | €2,130,582 | €1,950,356 | -€180,226 | -8.5% |
| Equity | 10/15 | €1,477,862 | €1,384,233 | -€93,629 | -6.3% |
| Contributions | 10/11 | €738,814 | €738,814 | = | 0.0% |
| Capital | 10 | €738,814 | €738,814 | = | 0.0% |
| Issued capital | 100 | €738,814 | €738,814 | = | 0.0% |
| Reserves | 13 | €726,712 | €726,712 | = | 0.0% |
| Non-distributable reserves | 130/1 | €103,881 | €103,881 | = | 0.0% |
| Legal reserve | 130 | €103,881 | €103,881 | = | 0.0% |
| Distributable reserves | 133 | €622,831 | €622,831 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,336 | -€81,293 | -€93,629 | |
| Amounts payable | 17/49 | €652,721 | €566,123 | -€86,597 | -13.3% |
| Amounts payable after more than one year | 17 | €393,265 | €295,512 | -€97,753 | -24.9% |
| Financial debts | 170/4 | €393,265 | €295,512 | -€97,753 | -24.9% |
| Amounts payable within one year | 42/48 | €259,456 | €270,612 | +€11,156 | +4.3% |
| Current portion of amounts payable after more than one year | 42 | €35,655 | €51,371 | +€15,716 | +44.1% |
| Trade debts | 44 | €6,334 | €1,775 | -€4,560 | -72.0% |
| Suppliers | 440/4 | €6,334 | €1,775 | -€4,560 | -72.0% |
| Taxes, remuneration and social security | 45 | €217,466 | €217,466 | = | 0.0% |
| Remuneration and social security | 454/9 | €217,466 | €217,466 | = | 0.0% |
| Non-recurring operating income | 76A | €197,254 | €6,893 | -€190,361 | -96.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €92,238 | €36,300 | -€55,938 | -60.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,222 | €6,124 | -€26,098 | -81.0% |
| Other operating charges | 640/8 | €72,025 | €68,077 | -€3,948 | -5.5% |
| Gross operating margin | 9900 | €171,583 | -€29,406 | -€200,989 | |
| Operating profit (loss) | 9901 | €67,336 | -€103,608 | -€170,943 | |
| Financial income | 75/76B | €24,470 | €31,776 | +€7,305 | +29.9% |
| Recurring financial income | 75 | €24,470 | €31,776 | +€7,305 | +29.9% |
| Financial charges | 65/66B | €29,435 | €21,797 | -€7,638 | -25.9% |
| Recurring financial charges | 65 | €29,435 | €21,797 | -€7,638 | -25.9% |
| Profit (loss) for the period before taxes | 9903 | €62,371 | -€93,629 | -€156,000 | |
| Income taxes | 67/77 | €24,774 | - | -€24,774 | |
| Profit (loss) for the period | 9904 | €37,597 | -€93,629 | -€131,227 | |
| Profit (loss) for the period to be appropriated | 9905 | €37,597 | -€93,629 | -€131,227 |
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 2 October 2026 via checked.be.