LIP-E: 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.
LIP-E
Largest movements
- Receivables within one year -€3.8m
down €3.8m (-92.0%), from €4.2m to €331,210
of which Other amounts receivable: -€3.8m
- Stocks and contracts -€192,500
down €192,500 (-56.2%), from €342,500 to €150,000
- Cash -€88,909
down €88,909 (-91.8%), from €96,889 to €7,980
mainly Tax, wage and social debts (-€2.3m) and Trade debts (-€1.4m)
- Tax, wage and social debts -€2.3m
no longer reported in 2025 (was €2.3m)
- Trade debts -€1.4m
down €1.4m (-93.3%), from €1.5m to €104,419
- Reserves -€767,720
down €767,720 (-79.1%), from €970,343 to €202,623
- Profit (loss) carried forward +€529,418
no longer reported in 2025 (was -€529,418)
- Accrued charges and deferred income -€98,419
down €98,419 (-95.6%), from €102,934 to €4,515
- Financial charges -€332,910
down €332,910 (-99.7%), from €333,876 to €966
- Gross operating margin -€81,281
down €81,281 (-56.5%), from -€143,805 to -€225,085
- Financial income +€22,160
up €22,160 (+38,339%), from €58 to €22,218
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 | €4,595,413 | €511,557 | -€4.1m | -88.9% |
| Current assets | 29/58 | €4,595,413 | €511,557 | -€4.1m | -88.9% |
| Stocks and contracts in progress | 3 | €342,500 | €150,000 | -€192,500 | -56.2% |
| Stocks | 30/36 | €342,500 | €150,000 | -€192,500 | -56.2% |
| Amounts receivable within one year | 40/41 | €4,155,595 | €331,210 | -€3.8m | -92.0% |
| Trade receivables | 40 | €81,950 | €45,000 | -€36,950 | -45.1% |
| Other amounts receivable | 41 | €4,073,646 | €286,210 | -€3.8m | -93.0% |
| Cash at bank and in hand | 54/58 | €96,889 | €7,980 | -€88,909 | -91.8% |
| Deferred charges and accrued income | 490/1 | €428 | €22,367 | +€21,939 | +5,121% |
| Total equity and liabilities | 10/49 | €4,595,413 | €511,557 | -€4.1m | -88.9% |
| Equity | 10/15 | €640,925 | €402,623 | -€238,302 | -37.2% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €970,343 | €202,623 | -€767,720 | -79.1% |
| Distributable reserves | 133 | €970,343 | €202,623 | -€767,720 | -79.1% |
| Profit (loss) carried forward | 14 | -€529,418 | - | +€529,418 | |
| Amounts payable | 17/49 | €3,954,488 | €108,934 | -€3.8m | -97.2% |
| Amounts payable within one year | 42/48 | €3,851,554 | €104,419 | -€3.7m | -97.3% |
| Trade debts | 44 | €1,547,225 | €104,419 | -€1.4m | -93.3% |
| Suppliers | 440/4 | €1,547,225 | €104,419 | -€1.4m | -93.3% |
| Taxes, remuneration and social security | 45 | €2,304,329 | - | -€2.3m | |
| Taxes | 450/3 | €2,304,329 | - | -€2.3m | |
| Accrued charges and deferred income | 492/3 | €102,934 | €4,515 | -€98,419 | -95.6% |
| Other operating charges | 640/8 | €1,796 | €1,686 | -€110 | -6.1% |
| Non-recurring operating charges | 66A | €50,000 | €32,782 | -€17,218 | -34.4% |
| Gross operating margin | 9900 | -€143,805 | -€225,085 | -€81,281 | -56.5% |
| Operating profit (loss) | 9901 | -€195,601 | -€259,554 | -€63,953 | -32.7% |
| Financial income | 75/76B | €58 | €22,218 | +€22,160 | +38,339% |
| Recurring financial income | 75 | €58 | €22,218 | +€22,160 | +38,339% |
| Financial charges | 65/66B | €333,876 | €966 | -€332,910 | -99.7% |
| Recurring financial charges | 65 | €333,876 | €966 | -€332,910 | -99.7% |
| Profit (loss) for the period before taxes | 9903 | -€529,418 | -€238,301 | +€291,117 | +55.0% |
| Income taxes | 67/77 | - | €1 | +€1 | |
| Profit (loss) for the period | 9904 | -€529,418 | -€238,302 | +€291,117 | +55.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€529,418 | -€238,302 | +€291,117 | +55.0% |
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 22 October 2026 via checked.be.