LION: 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.
LION
Largest movements
- Receivables after one year +€160,000
up €160,000 (+9.7%), from €1.6m to €1.8m
- Tangible fixed assets -€107,156
down €107,156 (-7.5%), from €1.4m to €1.3m
of which Land and buildings: -€109,241
- Cash +€70,221
up €70,221 (+17.1%), from €409,657 to €479,878
mainly Net result for the year (+€275,499) and Depreciation (+€109,999)
- Receivables within one year +€56,049
up €56,049 (+30.5%), from €183,886 to €239,935
of which Other amounts receivable: +€55,999
- Reserves +€275,499
up €275,499 (+9.7%), from €2.8m to €3.1m
of which Distributable reserves: +€275,499
- Tax, wage and social debts -€114,651
down €114,651 (-69.2%), from €165,702 to €51,051
of which Taxes: -€115,195
- Gross operating margin +€82,045
up €82,045 (+13.0%), from €631,914 to €713,959
- Other operating charges +€80,971
up €80,971 (+7459.2%), from €1,086 to €82,057
- Taxes +€18,282
up €18,282 (+23.7%), from €77,032 to €95,314
- Staff costs +€8,889
up €8,889 (+7.1%), from €124,478 to €133,366
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 | €4,106,590 | €4,286,144 | +€179,554 | +4.4% |
| Fixed assets | 21/28 | €1,869,400 | €1,762,244 | -€107,156 | -5.7% |
| Tangible fixed assets | 22/27 | €1,421,593 | €1,314,437 | -€107,156 | -7.5% |
| Land and buildings | 22 | €1,421,362 | €1,312,121 | -€109,241 | -7.7% |
| Plant, machinery and equipment | 23 | €231 | €2,316 | +€2,085 | +901.8% |
| Financial fixed assets | 28 | €447,806 | €447,806 | = | 0.0% |
| Current assets | 29/58 | €2,237,191 | €2,523,900 | +€286,709 | +12.8% |
| Amounts receivable after more than one year | 29 | €1,643,000 | €1,803,000 | +€160,000 | +9.7% |
| Other amounts receivable | 291 | €1,643,000 | €1,803,000 | +€160,000 | +9.7% |
| Amounts receivable within one year | 40/41 | €183,886 | €239,935 | +€56,049 | +30.5% |
| Trade receivables | 40 | - | €50 | +€50 | |
| Other amounts receivable | 41 | €183,886 | €239,885 | +€55,999 | +30.5% |
| Cash at bank and in hand | 54/58 | €409,657 | €479,878 | +€70,221 | +17.1% |
| Deferred charges and accrued income | 490/1 | €648 | €1,087 | +€439 | +67.8% |
| Total equity and liabilities | 10/49 | €4,106,590 | €4,286,144 | +€179,554 | +4.4% |
| Equity | 10/15 | €3,008,797 | €3,284,295 | +€275,499 | +9.2% |
| Contributions | 10/11 | €168,600 | €168,600 | = | 0.0% |
| Reserves | 13 | €2,840,197 | €3,115,695 | +€275,499 | +9.7% |
| Non-distributable reserves | 130/1 | €16,860 | €16,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €16,860 | €16,860 | = | 0.0% |
| Distributable reserves | 133 | €2,823,337 | €3,098,835 | +€275,499 | +9.8% |
| Amounts payable | 17/49 | €1,097,793 | €1,001,848 | -€95,945 | -8.7% |
| Amounts payable after more than one year | 17 | €548,146 | €548,146 | = | 0.0% |
| Other amounts payable | 178/9 | €548,146 | €548,146 | = | 0.0% |
| Amounts payable within one year | 42/48 | €493,171 | €396,037 | -€97,134 | -19.7% |
| Taxes, remuneration and social security | 45 | €165,702 | €51,051 | -€114,651 | -69.2% |
| Taxes | 450/3 | €150,509 | €35,314 | -€115,195 | -76.5% |
| Remuneration and social security | 454/9 | €15,192 | €15,736 | +€544 | +3.6% |
| Other amounts payable | 47/48 | €327,469 | €344,986 | +€17,517 | +5.3% |
| Accrued charges and deferred income | 492/3 | €56,477 | €57,666 | +€1,189 | +2.1% |
| Remuneration, social security and pensions | 62 | €124,478 | €133,366 | +€8,889 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €109,687 | €109,999 | +€312 | +0.3% |
| Other operating charges | 640/8 | €1,086 | €82,057 | +€80,971 | +7459.2% |
| Gross operating margin | 9900 | €631,914 | €713,959 | +€82,045 | +13.0% |
| Operating profit (loss) | 9901 | €396,663 | €388,537 | -€8,126 | -2.0% |
| Financial charges | 65/66B | €18,621 | €17,724 | -€897 | -4.8% |
| Recurring financial charges | 65 | €18,621 | €17,724 | -€897 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €378,042 | €370,813 | -€7,229 | -1.9% |
| Income taxes | 67/77 | €77,032 | €95,314 | +€18,282 | +23.7% |
| Profit (loss) for the period | 9904 | €301,010 | €275,499 | -€25,512 | -8.5% |
| Profit (loss) for the period to be appropriated | 9905 | €301,010 | €275,499 | -€25,512 | -8.5% |
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 7 October 2026 via checked.be.