LIPASO: 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.
LIPASO
Largest movements
- Receivables within one year +€65,711
up €65,711 (+1,053%), from €6,243 to €71,954
of which Trade receivables: +€67,150
- Cash -€17,029
down €17,029 (-11.6%), from €146,184 to €129,155
mainly Contributions, distributions and other (-€100,000) and Receivables within one year (-€65,711)
- Intangible fixed assets -€9,000
down €9,000 (-17.4%), from €51,750 to €42,750
- Tangible fixed assets -€3,146
down €3,146 (-34.8%), from €9,038 to €5,892
of which Plant, machinery and equipment: -€1,678
- Reserves -€100,000
down €100,000 (-85.4%), from €117,063 to €17,063
- Other debts +€90,592
up €90,592 (+2,904%), from €3,120 to €93,712
- Trade debts +€56,304
up €56,304 (+294%), from €19,157 to €75,460
- Debts after one year -€34,361
no longer reported in 2025 (was €34,361)
- Tax, wage and social debts +€24,072
up €24,072 (+121%), from €19,946 to €44,018
of which Taxes: +€22,887
- Gross operating margin -€28,367
down €28,367 (-31.5%), from €89,916 to €61,550
- Staff costs +€11,092
up €11,092 (+39.1%), from €28,400 to €39,491
- Taxes -€9,600
down €9,600 (-76.9%), from €12,482 to €2,882
- Financial income +€2,545
up €2,545 (+122,353%), from €2 to €2,547
- Other operating charges +€975
up €975 (+338%), from €289 to €1,263
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 | €216,506 | €252,633 | +€36,127 | +16.7% |
| Fixed assets | 21/28 | €61,183 | €49,037 | -€12,146 | -19.9% |
| Intangible fixed assets | 21 | €51,750 | €42,750 | -€9,000 | -17.4% |
| Tangible fixed assets | 22/27 | €9,038 | €5,892 | -€3,146 | -34.8% |
| Plant, machinery and equipment | 23 | €7,291 | €5,613 | -€1,678 | -23.0% |
| Furniture and vehicles | 24 | €198 | - | -€198 | |
| Other tangible fixed assets | 26 | €1,549 | €279 | -€1,270 | -82.0% |
| Financial fixed assets | 28 | €395 | €395 | = | 0.0% |
| Current assets | 29/58 | €155,322 | €203,596 | +€48,273 | +31.1% |
| Stocks and contracts in progress | 3 | €1,269 | €940 | -€329 | -25.9% |
| Stocks | 30/36 | €1,269 | €940 | -€329 | -25.9% |
| Amounts receivable within one year | 40/41 | €6,243 | €71,954 | +€65,711 | +1,053% |
| Trade receivables | 40 | €4,794 | €71,944 | +€67,150 | +1,401% |
| Other amounts receivable | 41 | €1,449 | €11 | -€1,439 | -99.3% |
| Cash at bank and in hand | 54/58 | €146,184 | €129,155 | -€17,029 | -11.6% |
| Deferred charges and accrued income | 490/1 | €1,627 | €1,546 | -€81 | -5.0% |
| Total equity and liabilities | 10/49 | €216,506 | €252,633 | +€36,127 | +16.7% |
| Equity | 10/15 | €129,063 | €32,504 | -€96,559 | -74.8% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Reserves | 13 | €117,063 | €17,063 | -€100,000 | -85.4% |
| Distributable reserves | 133 | €117,063 | €17,063 | -€100,000 | -85.4% |
| Profit (loss) carried forward | 14 | - | €3,441 | +€3,441 | |
| Amounts payable | 17/49 | €87,443 | €220,128 | +€132,686 | +152% |
| Amounts payable after more than one year | 17 | €34,361 | - | -€34,361 | |
| Financial debts | 170/4 | €34,361 | - | -€34,361 | |
| Amounts payable within one year | 42/48 | €53,081 | €220,128 | +€167,047 | +315% |
| Current portion of amounts payable after more than one year | 42 | €10,858 | - | -€10,858 | |
| Trade debts | 44 | €19,157 | €75,460 | +€56,304 | +294% |
| Suppliers | 440/4 | €19,157 | €75,460 | +€56,304 | +294% |
| Advances received on contracts in progress | 46 | - | €6,938 | +€6,938 | |
| Taxes, remuneration and social security | 45 | €19,946 | €44,018 | +€24,072 | +121% |
| Taxes | 450/3 | €12,694 | €35,581 | +€22,887 | +180% |
| Remuneration and social security | 454/9 | €7,252 | €8,438 | +€1,185 | +16.3% |
| Other amounts payable | 47/48 | €3,120 | €93,712 | +€90,592 | +2,904% |
| Remuneration, social security and pensions | 62 | €28,400 | €39,491 | +€11,092 | +39.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,065 | €13,452 | +€387 | +3.0% |
| Other operating charges | 640/8 | €289 | €1,263 | +€975 | +338% |
| Gross operating margin | 9900 | €89,916 | €61,550 | -€28,367 | -31.5% |
| Operating profit (loss) | 9901 | €48,162 | €7,342 | -€40,820 | -84.8% |
| Financial income | 75/76B | €2 | €2,547 | +€2,545 | +122,353% |
| Recurring financial income | 75 | €2 | €2,547 | +€2,545 | +122,353% |
| Financial charges | 65/66B | €4,402 | €3,566 | -€836 | -19.0% |
| Recurring financial charges | 65 | €4,402 | €3,566 | -€836 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | €43,762 | €6,323 | -€37,439 | -85.6% |
| Income taxes | 67/77 | €12,482 | €2,882 | -€9,600 | -76.9% |
| Profit (loss) for the period | 9904 | €31,280 | €3,441 | -€27,839 | -89.0% |
| Profit (loss) for the period to be appropriated | 9905 | €31,280 | €3,441 | -€27,839 | -89.0% |
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 13 October 2026 via checked.be.