LIONS: 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.
LIONS
Largest movements
- Cash -€104,152
down €104,152 (-90.4%), from €115,259 to €11,107
mainly Debts after one year (-€264,413) and Current investments (-€75,000)
- Current investments +€75,000
new in 2025: €75,000
- Receivables within one year +€15,255
up €15,255 (+23.9%), from €63,947 to €79,202
of which Other amounts receivable: +€16,293
- Debts after one year -€264,413
down €264,413 (-99.6%), from €265,458 to €1,045
- Current portion of long-term debt +€252,216
up €252,216 (+2,068%), from €12,197 to €264,413
- Profit (loss) carried forward -€6,356
new in 2025: -€6,356
- Gross operating margin -€147,703
down €147,703 (-95.1%), from €155,339 to €7,636
- Other operating charges -€40,582
down €40,582 (-97.5%), from €41,612 to €1,030
- Taxes -€33,448
down €33,448 (-100%), from €33,448 to €0
- Financial charges -€1,917
down €1,917 (-15.6%), from €12,266 to €10,349
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 | €596,508 | €579,322 | -€17,186 | -2.9% |
| Fixed assets | 21/28 | €119,213 | €115,593 | -€3,620 | -3.0% |
| Tangible fixed assets | 22/27 | €119,213 | €115,593 | -€3,620 | -3.0% |
| Land and buildings | 22 | €113,320 | €110,700 | -€2,620 | -2.3% |
| Furniture and vehicles | 24 | €5,893 | €4,893 | -€1,000 | -17.0% |
| Current assets | 29/58 | €477,295 | €463,729 | -€13,566 | -2.8% |
| Stocks and contracts in progress | 3 | €297,500 | €297,500 | = | 0.0% |
| Stocks | 30/36 | €297,500 | €297,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €63,947 | €79,202 | +€15,255 | +23.9% |
| Trade receivables | 40 | €13,538 | €12,500 | -€1,038 | -7.7% |
| Other amounts receivable | 41 | €50,409 | €66,702 | +€16,293 | +32.3% |
| Current investments | 50/53 | - | €75,000 | +€75,000 | |
| Cash at bank and in hand | 54/58 | €115,259 | €11,107 | -€104,152 | -90.4% |
| Deferred charges and accrued income | 490/1 | €589 | €920 | +€331 | +56.2% |
| Total equity and liabilities | 10/49 | €596,508 | €579,322 | -€17,186 | -2.9% |
| Equity | 10/15 | €121,285 | €110,934 | -€10,351 | -8.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €115,085 | €111,090 | -€3,994 | -3.5% |
| Distributable reserves | 133 | €115,085 | €111,090 | -€3,994 | -3.5% |
| Profit (loss) carried forward | 14 | - | -€6,356 | -€6,356 | |
| Amounts payable | 17/49 | €475,223 | €468,388 | -€6,835 | -1.4% |
| Amounts payable after more than one year | 17 | €265,458 | €1,045 | -€264,413 | -99.6% |
| Financial debts | 170/4 | €265,458 | €1,045 | -€264,413 | -99.6% |
| Amounts payable within one year | 42/48 | €209,765 | €467,343 | +€257,578 | +123% |
| Current portion of amounts payable after more than one year | 42 | €12,197 | €264,413 | +€252,216 | +2,068% |
| Trade debts | 44 | €73 | €5,292 | +€5,219 | +7,135% |
| Suppliers | 440/4 | €73 | €5,292 | +€5,219 | +7,135% |
| Taxes, remuneration and social security | 45 | €33,146 | €33,288 | +€142 | +0.4% |
| Taxes | 450/3 | €33,146 | €33,288 | +€142 | +0.4% |
| Other amounts payable | 47/48 | €164,350 | €164,350 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | €13,449 | +€13,449 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,672 | €3,620 | -€52 | -1.4% |
| Other operating charges | 640/8 | €41,612 | €1,030 | -€40,582 | -97.5% |
| Non-recurring operating charges | 66A | - | €3,000 | +€3,000 | |
| Gross operating margin | 9900 | €155,339 | €7,636 | -€147,703 | -95.1% |
| Operating profit (loss) | 9901 | €110,055 | -€14 | -€110,069 | |
| Financial income | 75/76B | €1,007 | €12 | -€995 | -98.8% |
| Recurring financial income | 75 | €1,007 | €12 | -€995 | -98.8% |
| Financial charges | 65/66B | €12,266 | €10,349 | -€1,917 | -15.6% |
| Recurring financial charges | 65 | €12,266 | €10,349 | -€1,917 | -15.6% |
| Profit (loss) for the period before taxes | 9903 | €98,796 | -€10,351 | -€109,146 | |
| Income taxes | 67/77 | €33,448 | €0 | -€33,448 | -100% |
| Profit (loss) for the period | 9904 | €65,348 | -€10,351 | -€75,699 | |
| Profit (loss) for the period to be appropriated | 9905 | €65,348 | -€10,351 | -€75,699 |
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 15 October 2026 via checked.be.